Bush administration projects record 2009 deficit

[MTK]

WASHINGTON (AP) — The next president will inherit a record budget deficit of $482 billion, according to a new Bush administration estimate released Monday.

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[dmek25]

here we go again

[firstdown]

Goverment as a whole has grown and grown and grown. Bush has done somethings I agree with but his spending and exspanding of goverment is not one of them. Its time to reduce all goverment (federal, state, and local) back to what they where suppose to be. I don't think that will happen anytime soon because Obama & McCain seem to be promising the moon to get elected. I guess we will see. Now if Obama wins the Dems can just blame Bush like they say some blame Clinton. Then this can go on and on from election to election until people realise goverment is the problem and not the solution.

[dmek25]

Originally Posted by firstdown

Goverment as a whole has grown and grown and grown. Bush has done somethings I agree with but his spending and exspanding of goverment is not one of them. Its time to reduce all goverment (federal, state, and local) back to what they where suppose to be. I don't think that will happen anytime soon because Obama & McCain seem to be promising the moon to get elected. I guess we will see. Now if Obama wins the Dems can just blame Bush like they say some blame Clinton. Then this can go on and on from election to election until people realise goverment is the problem and not the solution.

can you say homeland security? and wasteful spending is the earmark this administration has lived by

[Slingin Sammy 33]

Originally Posted by dmek25

can you say homeland security? and wasteful spending is the earmark this administration has lived by

Budget has to be approved by Congress....after loading it with earmarks. Both sides of the aisle are to blame.

[firstdown]

Originally Posted by dmek25

can you say homeland security? and wasteful spending is the earmark this administration has lived by

And everyone else who has been to DC in the past years Bush is just part of spending problem. Funny how you pick homeland security as thats one thing I did not consider a waist of taxpayers money. I'm positive there has been plenty of waisted money spent for homeland security but the program its self was not a waist. But I'm sure if Obama gets elected we can just go back to pre 9/11 days as these guys won't hait us anymore and we can just cut all military and homeland security spending and have one hugh hugggggg.

[GhettoDogAllStars]

Bush has exploited this country and its people to the fullest. He's reckless and ignorant -- a dangerous combination. Homeland Security is the biggest waste of tax dollars I have ever seen. Those of you who think Bush is not to blame for our current situation are just fooling yourselves. Bush is responsible for damn near every problem we face today. It will be such a relief to have him out of office. It still blows my mind that people elected him into office twice. Fools.

[Slingin Sammy 33]

Originally Posted by GhettoDogAllStars

Bush has exploited this country and its people to the fullest. He's reckless and ignorant -- a dangerous combination. Homeland Security is the biggest waste of tax dollars I have ever seen. Those of you who think Bush is not to blame for our current situation are just fooling yourselves. Bush is responsible for damn near every problem we face today. It will be such a relief to have him out of office. It still blows my mind that people elected him into office twice. Fools.

IMO here are the biggest problems we face today:

1) Dependency on foreign oil

2) Threat of terrorist strikes

3) Overspending by government (pork, unnecessary regulation & programs)

4) Social programs (SS & Welfare) that will either bankrupt the government or go bankrupt themselves unless real solutions are implemented.

There are many more, but these are the first major ones that come to mind. How is President Bush responsible for these problems? Has he contributed to some, certainly, but there is a Congress. Bush is not a monarch. Don't we as the people that elect Congress and the President bear some of the responsibility as well?

[70Chip]

The fault is not in the stars but in ourselves. We don't care about fiscal responsibilty so of course our representatives dont either.

Cassius:
"The fault, dear Brutus, is not in our stars,
But in ourselves, that we are underlings."

[GTripp0012]

At some point in Bush's first term, they just decided that a balanced budget isn't all that important. I totally disagree with that, but this wasn't a case of presidential incompetence, just that no one bothered to even attempt to balance expenses with revenue (a conscience decision).

If this debt never really comes back to bite us, we can say that congress and the Bush Administration were right on this one. But, I'm pretty sure it will bite us in the balls sooner or later.

[The Goat]

Sort of coincidental really. A thread started earlier had a link singing the praises of the voodoo theory of supply-side economics. Any honest person who pays attention to public policy knows that since supply-side was adopted by the conservative movement this country has been heaped w/ $10 trillion in debt (was about $1 trillion prior to supply-side). Yet, there's still a large, and somehow growing cohort of Americans, who promote tax cuts for the rich, very rich and unfathomably rich. Then when a report of even bigger deficits is released most people scratch their head and point to programs like Social Security and Medicare, which are separate from the regular budget and funded by the middle class for the middle class (at different stages of life albeit).

Doesn't make a lot of sense. But it does say something about where we're headed.

In other news our lousy neighbors to the north are set to be completely debt-free by I believe 2014. Debt reduction was written in to Canada's federal law last year. Bastards!

[GhettoDogAllStars]

Originally Posted by Slingin Sammy 33

IMO here are the biggest problems we face today:

1) Dependency on foreign oil

2) Threat of terrorist strikes

3) Overspending by government (pork, unnecessary regulation & programs)

4) Social programs (SS & Welfare) that will either bankrupt the government or go bankrupt themselves unless real solutions are implemented.

I wouldn't say the threat of terrorist strikes is one of our biggest problems. However, it is made to look like our biggest problem, so that the powers can control the people through fear.

So, that would leave:

1.) Foreign Oil
-- The price of oil has risen more dramatically during Bush's term than at any other time in history. Demand is through the roof. I would guess a lot of the demand for oil is coming from our government and their operations in Iraq. The Bush administration lied about Iraq. That one's on them -- not the American public. While Bush isn't responsible for all of the increased demand, he's certainly responsible for a large part of it, and he's not doing anything to help the situation. He's only made it worse.

2.) Government Overspending
-- From the article:
"House Budget Committee Chairman John Spratt, D-S.C., said the new deficit figure confirms 'the dismal legacy of the Bush administration: under its policies, the largest surpluses in history have been converted into the largest deficits in history.'"

This administration spent $482 Billion (with a 'B') over the budget -- in one year! Never has this country overspent so much -- never. The previous record of $413 Billion was also set by Bush, in 2004.

It's hard to imagine how anyone could excuse Bush for that.

3.) Social Programs
-- I wouldn't just say social programs are one of our biggest problems. It's too general. Social programs can be great, and it's a shame that most of America's social programs are worthless. This is definitely not Bush's fault, but this problem pales in comparison to the previous two.

Originally Posted by Slingin Sammy 33

There are many more, but these are the first major ones that come to mind. How is President Bush responsible for these problems? Has he contributed to some, certainly, but there is a Congress. Bush is not a monarch. Don't we as the people that elect Congress and the President bear some of the responsibility as well?

I agree that the public is ultimately responsible. However, our government doesn't work the way it is supposed to, and what we are left with is what I like to call a "Virtual Monarchy". The people who make most of the important executive decisions -- the Presidential Cabinet -- are appointed, not elected. In addition, for any citizen to truly do their duty as a participant in the democracy, they would have to spend all of their time doing it. There is far too much going on in government every day.

[firstdown]

Originally Posted by GhettoDogAllStars

Bush has exploited this country and its people to the fullest. He's reckless and ignorant -- a dangerous combination. Homeland Security is the biggest waste of tax dollars I have ever seen. Those of you who think Bush is not to blame for our current situation are just fooling yourselves. Bush is responsible for damn near every problem we face today. It will be such a relief to have him out of office. It still blows my mind that people elected him into office twice. Fools.

I have conceed that its both parties and everyone in DC which has grown goverment way past what it should have ever been. But if you want to play the blame game then OK. 2007 def was 170 bil this year 468 (something like that) and who controls spending now? If we look at when gas started shooting up in price, housing going to sh!t, economy, it was after the dems took control of congress. They also voted on all these spending bills which have us at such a deficit. Do I believe they are to blame for all of this? No, but I'm using your blame game. Maybe the dems are willing to let all of this happen so they can use it to win an election.

[GhettoDogAllStars]

Originally Posted by firstdown

I have conceed that its both parties and everyone in DC which has grown goverment way past what it should have ever been. But if you want to play the blame game then OK. 2007 def was 170 bil this year 468 (something like that) and who controls spending now? If we look at when gas started shooting up in price, housing going to sh!t, economy, it was after the dems took control of congress. They also voted on all these spending bills which have us at such a deficit. Do I believe they are to blame for all of this? No, but I'm using your blame game. Maybe the dems are willing to let all of this happen so they can use it to win an election.

Well, I guess your reasoning doesn't work very well, considering that Republicans controlled both the Senate and the House (as well as the Presidency) during 2004 -- the worst budget deficit since 2008.

Republicans controlled the Senate and House from 2003 to 2007. When exactly do you think the housing market and gas prices started going to shit? Dems have had control for one year, the previous 4 years controlled by Republicans, and you want to blame the Dems? LOL.

For the record, I consider myself a Republican. However, I'm not partisan, and I blame those who I think are responsible -- regardless of political affiliation.

[That Guy]

as a % it's not the biggest, but that is a pretty big number.

that doesn't even account for the 35 TRILLION in unfunded obligations to medicare...
washingtonpost.com