Sick of "Obama inheriting a huge deficit from Bush"

[Boris Norris]

The Washington Post babbled again today about Obama inheriting a huge deficit from Bush, blah blah blah.
Amazingly enough, a lot of people swallow this nonsense. So once more, I'll try a short civics lesson.

Budgets do not come from the White House. They come from Congress, and the party that controlled Congress since January 2007 is the Democratic Party. They controlled the budget process for FY 2008 and FY 2009, as well as FY 2010 and FY 2011. In that first year, they had to contend with George Bush, which caused them to compromise on spending, when Bush somewhat belatedly got tough on spending increases.. For FY 2009, though, Nancy Pelosi and Harry Reid bypassed George Bush entirely, passing continuing resolutions to keep government running until Barack Obama could take office. At that time, they passed a massive omnibus spending bill to complete the FY 2009 budgets.

And where was Barack Obama during this time? He was a member of that very Congress that passed all of these massive spending bills, and he signed the omnibus bill as President to complete FY 2009.. Let's remember what the deficits looked like during that period:


If the Democrats inherited any deficit, it was the FY 2007 deficit, the last of the Republican budgets. That deficit was the lowest in five years, and the fourth straight decline in deficit spending. After that, Democrats in Congress took control of spending, and that includes Barack Obama, who voted for the budgets. If Obama inherited anything, he inherited it from himself.

In a nutshell, what Obama is saying is I inherited a deficit that I voted for and then I voted to expand that deficit four-fold since January 20th.

WAKE UP, AMERICA , BEFORE ITS TO LATE

Wake up to what you idiot?
Obama's supported Chinese takeover.
Can't wait for your next brilliantly researched predictions.

 

[Phoenix68]

The Washington Post babbled again today about Obama inheriting a huge deficit from Bush, blah blah blah.
Amazingly enough, a lot of people swallow this nonsense. So once more, I'll try a short civics lesson.

.

.
"U.S. Economy Screwed"
January 13, 2008
.​

"After blowing the last downturn, we've been worried this one since last summer. We also suspect that, given the importance of housing to the economy and debt to consumer spending, the recession will be deeper and more prolonged than people think."

.

.​

 

[Phoenix68]

These are details from one summary of Obama's tax hikes:

What ignorant victims of 'tax-the-rich' campaign speeches are usually unaware of is that the US has been 'taxing the rich' to the upper limit almost constantly since the invention of the IRS.

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President Obama’s Policies RESURRECTED The Economy!!!!
March 21, 2012
.

.​

 

[Boris Norris]

The Washington Post babbled again today about Obama inheriting a huge deficit from Bush, blah blah blah.
Amazingly enough, a lot of people swallow this nonsense. So once more, I'll try a short civics lesson.

Budgets do not come from the White House. They come from Congress, and the party that controlled Congress since January 2007 is the Democratic Party. They controlled the budget process for FY 2008 and FY 2009, as well as FY 2010 and FY 2011. In that first year, they had to contend with George Bush, which caused them to compromise on spending, when Bush somewhat belatedly got tough on spending increases.. For FY 2009, though, Nancy Pelosi and Harry Reid bypassed George Bush entirely, passing continuing resolutions to keep government running until Barack Obama could take office. At that time, they passed a massive omnibus spending bill to complete the FY 2009 budgets.

And where was Barack Obama during this time? He was a member of that very Congress that passed all of these massive spending bills, and he signed the omnibus bill as President to complete FY 2009.. Let's remember what the deficits looked like during that period:


If the Democrats inherited any deficit, it was the FY 2007 deficit, the last of the Republican budgets. That deficit was the lowest in five years, and the fourth straight decline in deficit spending. After that, Democrats in Congress took control of spending, and that includes Barack Obama, who voted for the budgets. If Obama inherited anything, he inherited it from himself.

In a nutshell, what Obama is saying is I inherited a deficit that I voted for and then I voted to expand that deficit four-fold since January 20th.

WAKE UP, AMERICA , BEFORE ITS TO LATE

Quite obviously you don't know shyt from.sugar.

That's exactly what happened.

 

[mark francis]

.
President Obama’s Policies RESURRECTED The Economy!!!!
March 21, 2012
.
View attachment 12613
.​

Yes, of course. Democrats cannot stop praising Obama for resurrecting the economy two years into the Trump administration after struggling for 8 years to turn things around during the great black hope's reign.

 

[Boris Norris]

Yes, of course. Democrats cannot stop praising Obama for resurrecting the economy two years into the Trump administration after struggling for 8 years to turn things around during the great black hope's reign.

Black was the only alternative. It was whites who got us there so it's unlikely more of the same would get us out.
Here's a graph to prove Obama's achievements which carried on into Trump's POTUS. None of it was done by Trump boy. Under his admin it flattened again.

Obama's Economic Legacy in 8 Charts

A snapshot of the outgoing president's impact on the economy.

www.investopedia.com

 

[mark francis]

Black was the only alternative. It was whites who got us there so it's unlikely more of the same would get us out.
Here's a graph to prove Obama's achievements which carried on into Trump's POTUS. None of it was done by Trump boy. Under his admin it flattened again.

Obama's Economic Legacy in 8 Charts

A snapshot of the outgoing president's impact on the economy.

www.investopedia.com

I'm not sure how you got the idea that whites were the ones running ACORN when ACORN lobbied the Clinton administration to lower home lending standards so more blacks could buy homes. Nevertheless, lowering lending standards in 2000 turned out to be a very bad idea when it caused the 2008 banking collapse.

 

[Boris Norris]

I'm not sure how you got the idea that whites were the ones running ACORN when ACORN lobbied the Clinton administration to lower home lending standards so more blacks could buy homes. Nevertheless, lowering lending standards in 2000 turned out to be a very bad idea when it caused the 2008 banking collapse.

Here's the real reason.

People also ask


What caused the US financial crisis 2008?


Predatory lending in the form of subprime mortgages targeting low-income homebuyers, excessive risk-taking by global financial institutions, a continuous buildup of toxic assets within banks, and the bursting of the United States housing bubble culminated in a "perfect storm", which led to the Great Recession.

nothing to do with ACORN. The banks were making such huge profits after gwb tax cuts they shovelled the money everywhere.

 

[Phoenix68]

Sick of "Obama inheriting a huge deficit from Bush"​

The Washington Post babbled again today about Obama inheriting a huge deficit from Bush, blah blah blah.
Amazingly enough, a lot of people swallow this nonsense. So once more, I'll try a short civics lesson.

.

.
Let me save you from the embarrassment.....
.
.
"U.S. Economy Screwed"
January 13, 2008
.​

"After blowing the last downturn, we've been worried about this one since last summer. We also suspect that, given the importance of housing to the economy and debt to consumer spending, the recession will be deeper and more prolonged than people think."

.​

 

[mark francis]

Here's the real reason.

People also ask


What caused the US financial crisis 2008?


Predatory lending in the form of subprime mortgages targeting low-income homebuyers, excessive risk-taking by global financial institutions, a continuous buildup of toxic assets within banks, and the bursting of the United States housing bubble culminated in a "perfect storm", which led to the Great Recession.

nothing to do with ACORN. The banks were making such huge profits after gwb tax cuts they shovelled the money everywhere.

That is about the stupidest false presentation of lies I have ever heard in defense of bad policies that resulted in massive disasters.

 

[Boris Norris]

That is about the stupidest false presentation of lies I have ever heard in defense of bad policies that resulted in massive disasters.

That could be but it's still the facts.