CBO tallies 2012 deficit at $1.1T

[markomalley]

From the AP:
A new estimate puts the deficit for the just-completed 2012 budget year at $1.1 trillion, the fourth straight year of trillion dollar deficits on President Barack Obama’s watch.

The result was a slight, $207 billion improvement from the 2011 deficit of $1.3 trillion.

The bleak figures from the Congressional Budget Office, while expected, add fodder for the heated presidential campaign, in which Obama’s handling of the economy and the budget is a main topic. Friday’s release came as the government announced that the unemployment rate dropped to 7.8 percent last month, matching the rate when Obama took office.
I could see, maybe, being as charitable as possible, perhaps blaming Bush for part of the '09 deficit.

But as to the rest?

 

[_Abyssinia]

Obama promised to cut deficit by 1/2 by 2012

 

[jediliz]

Obama promised to cut deficit by 1/2 by 2012

Did he make that promise on opposite day?

 

[austenbosten]

This is coming from the man who cries about Romney’s mythical “$5 Trillion tax cut” hurting the budget. Meanwhile he spends $1.1 Trillion this year.

 

[edwest2]

And where is the money for the HHS Mandate going to come from? Anyone?

Meanwhile, certain US companies are hoarding around the same amount:

reuters.com/article/2012/07/16/us-column-dcjohnston-idlecash-idUSBRE86F0GK20120716

Peace,
Ed

 

[Luigi_Daniele]

And where is the money for the HHS Mandate going to come from? Anyone?

China.

 

[JonNC]

And where is the money for the HHS Mandate going to come from? Anyone?

Meanwhile, certain US companies are hoarding around the same amount:

reuters.com/article/2012/07/16/us-column-dcjohnston-idlecash-idUSBRE86F0GK20120716

Peace,
Ed

Its their money. They can do with it as they please.
Jon

 

[jilly4ski]

And where is the money for the HHS Mandate going to come from? Anyone?

Peace,
Ed

Medicare

 

[Luigi_Daniele]

Medicare

Nicely done:thumbsup:

 

[ProVobis]

Medicare

Actually Medicare Advantage, which I personally won’t miss.

 

[EmperorNapoleon]

Meanwhile he spends $1.1 Trillion this year.

Yeah, all by his lonesome. The Republican dominated Congress had absolutely nothing to do with it.

 

[ProVobis]

Yeah, all by his lonesome. The Republican dominated Congress had absolutely nothing to do with it.

Actually he had help from Bernanke, who has put the taxpayer on the hook for about $2 trillion just by printing money, which is still unlent and unspent. QE3 and perhaps QE4 will just make it worse, regardless of whether Romney or Obama is in there.

 

[austenbosten]

Yeah, all by his lonesome. The Republican dominated Congress had absolutely nothing to do with it.

111th US Congress
Duration: January 3, 2009 – January 3, 2011
Senate Majority: Democratic Party
House Majority: Democratic Party

Voting Share Senate
Dem:58%
GOP:42%

Voting Share House
Dem:58.8%
GOP:41.2%

112th US Congress
Duration: January 3, 2011 – January 3, 2013
Senate Majority: Democratic Party
House Majority: Republican Party

Voting Share Senate
Dem:53%
GOP:47%

Voting Share House
Dem:44.2%
GOP:55.8%

“Hello…I’m Earth, have we met?”

 

[Dawnia]

Yeah, all by his lonesome. The Republican dominated Congress had absolutely nothing to do with it.

Congress isn’t dominated by Republicans and there has been a default budget in place for the past 4 years.

Do you live in an alternative reality?

 

[EmperorNapoleon]

So who on the Republican side do you think shares blame with Obama? Nobody?

 

[edwest2]

China.

Ohhhhhh… riiiight. Silly me.

Ed

 

[edwest2]

Its their money. They can do with it as they please.
Jon

No they can’t. >>>>>> I always wanted to write something like that

Ed

 

[austenbosten]

So who on the Republican side do you think shares blame with Obama? Nobody?

Okay if we are gonna live in fantasy-land, I’ll play along

Obama is a Martian from the planet Hooptydoopty who has come to make America poor so he can confiscate all of America’s chocolate Hershey bars to take back in his Studebaker rocket ship powered by unicorn tears…because Hooptydoopty desperately needs Hershey bars. Since Obama became Prime Minister of the United Kingdom of Arghh-merica, land of the patriotic pirates. He has been holed up in the Pink Shack over in Omaha, Nebraska the capitol of the Arghh-merica.

We must vote for Gary Johnson because only he of the Shnazi Party can save Arghh-merica from losing all of its chocolate We also cannot allow the Scientologists to continue their terrorist attacks of blowing up Pepsi vending machines because it insults the prophet of Coca-Cola. We also cannot allow the Scientologist nation of Luxembourg from getting the mucho-grande explosivo because it would be disastrous to the nation of Liechtenstein.

Bob Gless Arghh-merica!

:dancing::whacky::hypno:

 

[EmperorNapoleon]

Do you live in an alternative reality?

Apparently you’ve been missing the fact that the Republican House cut a deal and enacted a budget for the remainder of this year through March of next year back in July. Remember what happened before that? Don’t pretend that the Republican Congress has nothing to do with government expenditures.

 

[Dawnia]

Apparently you’ve been missing the fact that the Republican House has been cutting deals and enacting short-term budgets all year.

Nope…didn’t miss it. Dems have been far more stubborn in their game of chicken and Republicans have caved.

Republicans are currently getting raked over the coals for not just going along with the Dems on the massive farm bill. They wants cuts that Dems won’t agree with.