UnThreaded | Threaded | Whole Thread (31) | Ignore Thread Prev Thread | Prev | Next | Next Thread
Author: CryingofLot49 Big funky green star, 20000 posts Feste Award Nominee! Old School Fool CAPS All Star Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 2002  
Subject: Re: So, how about that Date: 9/9/2011 11:37 AM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 3
Where was Naj when Bush was doubling spending

Posting about how unhappy I was about the overspending during 2003-04 in his first term [if not earlier, but circa 2003ish], and also posting about how unhappy I was about the Prescription Drug benefit, and also writing letters to the WH complaining about them, in addition to posting all those complaints right here at TMF.

Saying 'Where were...' just makes you sound like an ignoramus if you're calling to call people out and be 100% wrong about it, but assume the worst anyway. Try to act more adult -- I know's it's hard for you!


So, yeah, I dislike the overspending by the stuttering idiot of a epic failure in the WH these past years, just as I hated it when the previous POTUS did it.

The difference, is under Bush the deficit was a trivial percentage of GDP, not 10% year after year. And, of course, some would say the deficit spending during the 2002 recession was necessary - Keynesians among them.

But I still vociferously complained about the 8%+ growth in spending during Bush's first two years in office.

Of course, Bush didn't cut taxes at all, he lowered tax rates. Taxes collected went up by almost $500Bn after the 2003 change in marginal tax rates, and that's after the 30% increase the CBO assumed would occur after the spurring of economic growth. Nevertheless, you prefer to wallow in ignorance and unfounded, incorrect accusations.

You're such a sad, sad little man. We've even been over this before a few months ago:

http://boards.fool.com/your-repeated-innumeracy-and-blatant-...

CBO predictions of Tax Revenue in August 2003, post the passing of tax cuts, note the 1-yr lag before things really get going, economy-wise:

In $Billions 2004 2005 2006 2007*

Predicted $1,825 $2,064 $2,276 $2,421

Actual $1,880 $2,153 $2,407 $2,568 Total

Unexpected Surplus $55 $89 $131 $147 $422bn


The CBO was off by almost half-a-billion in just the past 3 years. And they projected 30% growth to begin with!
http://www.cbo.gov/ftpdocs/44xx/doc4493/08-26-Report.pdf

Additionally, in the first 3 years of the Tax Cut, growth averaged 4%, and an ALLTIME US RECORD OF 12 quarters of 3%+ GDP growth in a row.

The 2004 budget deficit was ~ $412Bn, 2007's deficit was $162Bn, or a $250bn improvement since tax cuts were passed in 3 years.


'Oct. 11, 2007 (Bloomberg) -- The U.S. government posted the smallest budget deficit in five years as tax revenue reached a record and spending rose at the slowest pace in George W. Bush's presidency.

The deficit narrowed to $162.8 billion in the fiscal year that ended Sept. 30, the third straight annual decline...the Treasury Department said today in Washington. '

I know this is hard for you because you've been brainwashed, but Bush's policies on this front actually worked and LOWERED the Deficit by a huge amount. All the way down to 1.7%.

The reason Barry is now widely seen as a failure, esp on the economic front, is that HIS ECONOMIC POLICIES AND SPENDULUS HAVE FAILED!

His entire administration is seen as extremely anti-business - both by business leaders and the media and commentators outside the US as seen by his attacks on various industries from banking to oil to pharma to insurance to guitar-making, to his appointments to the NLRB who say that Boeing can't build a new plant in South Carolina!
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (31) | Ignore Thread Prev Thread | Prev | Next | Next Thread

Announcements

Pencils of Promise - Back to School Drive
"Pencils of Promise works with communities across the globe to build schools and create programs that provide education opportunities for children."
Post of the Day:
Apple

Wal-Mart Nixes Apple Pay
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement