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Thread: "A formula for the decline of the United States"

  1. #1
    Join Date
    Feb 2001
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    9,507

    Post "A formula for the decline of the United States"

    That's what Senate budget Committe Chairman Kent Conrad called it if Republicans get their way on extending all of the Bush tax cuts.

    Check out the Center for Budget and Policy Priorities projections:
    The light blue area represents the U.S. debt forecast if Congress does nothing and all the tax cuts expire. The dark blue area is the debt forecast if Republicans get their way and make the tax cuts permanent. But if Obama gets his way, we'll get something in between -- and debts will continue to rise nonetheless.
    Before Obama was sworn in, the Tax Policy Center said he was too deferential to the Bush tax cuts and that his "claims of fiscal responsibility measure up only in comparison to that reckless yardstick." Something will eventually have to give.

  2. #2
    Join Date
    Jun 2003
    Posts
    3,781

    Re: "A formula for the decline of the United States"

    bush tax cuts, the 2 wars and all discretionary spending account for 15% of the budget... 65% going towards entitlement programs..

    way to stay focused on the big picture and jobs lefties!

  3. #3
    Join Date
    Feb 2001
    Posts
    9,507

    Post Re: "A formula for the decline of the United States"

    LOL... I'm not sure why your party insists on blaming President Obama and the Democrats for our budget problems. You can see from this analysis that 33% of our deficit can be attributed directly to Bush... as opposed to 10% for Obama.

    Causes of change in CBO forecasts

    Causes for Changes in CBO Forecasts



    The U.S. budget situation has deteriorated significantly since 2001, when the Congressional Budget Office (CBO) forecast average annual surpluses of approximately $850 billion from 20092012. The average deficit forecast in each of those years is now approximately $1,215 billion. The NY Times analyzed this roughly $2 trillion "swing," separating the causes into four major categories along with their share:
    • Recessions or the business cycle (37%);
    • Policies enacted by President Bush (33%);
    • Policies enacted by President Bush and supported or extended by President Obama (20%); and
    • New policies from President Obama (10%).
    CBO data is based only on current law, so policy proposals that have yet to be made law are not included in their analysis. The article concluded that President Obama's decisions accounted for only a "sliver" of the deterioration.

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