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Which President is the smallest spender since Eisenhower?
- Thread starter Magnetic Poles
- Start date
I read this article the other day and found it most interesting. It will be interesting to see what the BB folk say ... some will not like it at all.
Magnetic Poles
New Member
They also probably don't like the middle class tax cut he got them. C'est la vie.
It is strange how folk defend tax cuts for the very rich and seemingly approve tax increases for us middle class folk.
Yet somehow he managed to increase our debt to 16 trillion dollars and has almost tripled the money supply.
http://www.metrowestdailynews.com/o...ndrix-Obama-is-really-to-blame-for-gas-prices
HankD
You are arguing apples when the subject is oranges. The article is about percentage increase in the federal budget.
The 2009 budget was from Bush and was in effect 4 months before Obama took office. G. Bush's average increase in the federal budget was 8.1% a year.
In the four years of Obama's budget the federal increase has averaged 1.4% a year and the projected budget for fiscal 2012 is a -1.3, an actual decrease in federal spending. That does not mean the budget will be in the black, but it will be a decrease in spending.
The debt will grow, but not as fast, percentage wise, as under former presidents.
OldRegular
Well-Known Member
It is a fact: When President Bush left office the Federal Debt was ~$10,000,000,000,000, that is $10 trillion dollars. It is now ~$16,000,000,000,000, that is $16 trillion dollars, an increase of $6 trillion dollars in less than four years. So no matter how our two apologists for Qbama, CTB and MP, try to slice it Qbama has been very successful in his efforts to bankrupt the country. This guy is bad news for the country and that is a fact!
saturneptune
New Member
The answer is, none of them. The President does not spend one dime. Only Congress is authorized to spend money.
OldRegular
Well-Known Member
And there hasn't been a budget in 3 years! Dirty Harry, or is it dingy Harry, won't pass one.
It's neither apples or oranges.
It's the economy of the United States of America.
Obama has maxed out our credit cards to a foreign nation - China (amongst others including ourselves).
We have become the nation with the highest debt of any nation in the history of the world.
Yes the chart measures rate of growth but how then is the current 16 trillion dollar debt explained when it grew from 9.8 to 16 trillion in under 4 years of the Obama administration?
It's a mystery. Probably because portions of the debt were conveniently not figured in the formula to produce the chart.
Bush II administration added 4.1 Trillion to the debt in 8 years.
Obama administration has added more than 6 trillion in less than 4 years.
"New math"?
http://www.cbsnews.com/8301-500803_162-4486228-500803.html
HankD
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OldRegular
Well-Known Member
The Republican simply want to extend the Qbama Tax Rates that were passed in 2010, Why are you whining CTB?
OldRegular
Well-Known Member
What middle class tax cuts? Speak up MP!
OldRegular
Well-Known Member
You can't be rational CTB. The national debt has increased by 60% in less than 4 years under your tin god Qbama!
OldRegular
Well-Known Member
Marxism/Socialism is insane but many people jump on the cart!
Robert Snow
New Member
Tell me fruit inspector, is the economy presently better or equal to what it was during Reagan's presidency? Never mind the percentages, is the country better off now than then?
Magnetic Poles
New Member
So Robert, you are making the point for raising taxes. If taxing the wealthy resulted in a healthy economy, let's raise them to where they were during the Reagan years.
From http://www.politicususa.com/reagan-tax-rates.html
In 1982-1986 the top marginal tax rate was 50%. In 1987 the tax rate dropped to 38.5%, so for the majority (7 out of 8 years) of Reagan’s terms the tax rate for the wealthiest Americans was well above the top tax rates of today. In fact the wealthy only kept HALF or less of their money under most of Reagan’s presidency, yet that was enough to stimulate the economy according to many conservatives who credit the tax rates for the economic expansion of the 1980s.
OldRegular
Well-Known Member
President Obama has cut taxes for middle-class families and small businesses. One of the first things he did in office was cut taxes for 95 percent of working families. He has also signed 18 tax cuts for small businesses and extended the payroll tax cut for all American workers and their families, putting an extra $1,000 in the typical middle-class family’s pocket.
For too long, the U.S. tax code has benefited the wealthy and well-connected at the expense of the vast majority of Americans. A third of the 400 highest income taxpayers paid an average rate of 15 percent or less in 2008.
That's why President Obama proposed the Buffett Rule, asking millionaires and billionaires to do their fair share. But if you're one of the 98 percent of American families who make under $250,000 a year, your taxes won’t go up.
The President has asked Congress to take action to reform our tax code and close tax loopholes for millionaires and billionaires, as well as hedge fund managers, private jet owners, and oil companies.
For too long, the U.S. tax code has benefited the wealthy and well-connected at the expense of the vast majority of Americans. A third of the 400 highest income taxpayers paid an average rate of 15 percent or less in 2008.
That's why President Obama proposed the Buffett Rule, asking millionaires and billionaires to do their fair share. But if you're one of the 98 percent of American families who make under $250,000 a year, your taxes won’t go up.
The President has asked Congress to take action to reform our tax code and close tax loopholes for millionaires and billionaires, as well as hedge fund managers, private jet owners, and oil companies.
I realize that Qbama and his fellow leftist/democrats don't pay much attention to the Constitution but all tax legislation must originate in the House of Representatives. that is the reason that Qbamacare will be ruled unconstitutional since it is a piece of tax legislation and originated in the Senate.
On a more somber note do you really think any sane man would believe anything posted on the Qbama web site?