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View Diary: Three Charts To Email To Your Right-Wing Brother-In-Law (244 comments)

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  •  re: 2009 spending (0+ / 0-)

    They'll say it was Obama's because most of it came from the stimulus bill.  And that's correct.

    •  Very little of it from stimulus in 09 budget (10+ / 0-)

      Maybe a few billion had been spent by then.

      See http://www.nytimes.com/...

      "About 7 percent comes from the stimulus bill that Mr. Obama signed in February. "

      --
      Seeing The Forest -- Who is our economy FOR, anyway? Twitter: @dcjohnson

      by davej on Sun Aug 28, 2011 at 02:03:45 PM PDT

      [ Parent ]

      •  I think they're saying that 7% of the (8+ / 0-)

        "deficit" is from the stimulus.  They aren't saying that 7% of the total spending is from the stimulus.  Which, IMHO, is better for our argument.

        And...the lions share of the deficit increase came from Bush's policies:

        The first category — the business cycle — accounts for 37 percent of the $2 trillion swing. It’s a reflection of the fact that both the 2001 recession and the current one reduced tax revenue, required more spending on safety-net programs and changed economists’ assumptions about how much in taxes the government would collect in future years.

        About 33 percent of the swing stems from new legislation signed by Mr. Bush. That legislation, like his tax cuts and the Medicare prescription drug benefit, not only continue to cost the government but have also increased interest payments on the national debt.

        Mr. Obama’s main contribution to the deficit is his extension of several Bush policies, like the Iraq war and tax cuts for households making less than $250,000. Such policies — together with the Wall Street bailout, which was signed by Mr. Bush and supported by Mr. Obama — account for 20 percent of the swing.

        About 7 percent comes from the stimulus bill that Mr. Obama signed in February. And only 3 percent comes from Mr. Obama’s agenda on health care, education, energy and other areas.

        Join us at the Amateur Radio Group. Serving the Left Side of the Dial since 2011.

        by briefer on Sun Aug 28, 2011 at 02:28:31 PM PDT

        [ Parent ]

        •  Great point (3+ / 0-)

          Thanks.

          --
          Seeing The Forest -- Who is our economy FOR, anyway? Twitter: @dcjohnson

          by davej on Sun Aug 28, 2011 at 02:31:38 PM PDT

          [ Parent ]

          •  I don't think Obama can win on the economy. (3+ / 0-)
            Recommended by:
            Bluefin, briefer, Brooke In Seattle

            He bet on private sector job growth to put people back to work who lost their jobs in the Great Recession, and it hasn't come close.  Eyeballing Chart 3, the recent 17 straight months of private sector job growth roughly equals the number of jobs lost in just the first three months of his administration.

            Given the catastrophe that the crash was, is, and will be even more when the Euro blows up, a policy to re-employ people that depended on the private sector was doomed to fail.  The stimulus was never meant to employ people beyond stabilizing the private business climate, or else it (a) would have been as big as the TARP, or (b) it would not have been designed to lapse.

            The history books will record this was bad policy, especially with the lessons of the Great Depression available to him.  Now the political window is closed when once it was open, and he's stuck hitting up for money the same people he saved and then declined to indict.  It has been terribly disappointing for the country to witness, and the polls on this are plain.  (I bet further he's damn glad he didn't have to deliver his MLK speech on the heels of this debt ceiling debacle, with the Reverend looking sternly down on him...).  If Obama runs on his economic record, he will lose.

            Obama's best bet is to run on his foreign policy, the assassination of Bin Laden and decimation of AQ South Asia, and his contributions to the Arab Spring.  But that's for another discussion.  That's one that might silence the right-wing brother-in-law for a time, if not convince him to come over.

            "And now we know that government by organized money is just as dangerous as government by organized mob." -- FDR

            by Mogolori on Sun Aug 28, 2011 at 04:45:22 PM PDT

            [ Parent ]

        •  In anticipation of challenges..... (0+ / 0-)

          So the stimulus spending is included in the 2010 data?
          Just want to make sure stimulus spending was not counted separately.

          Any spending data excluded here, like perhaps, returns from the TARP money?

    •  Absolutely not true (0+ / 0-)

      As others have pointed out, very little of the stimulus bill actually got spent in FY 2009.

      And the deficit was already projected to be pretty much where it ended that year in January before Obama took office.  For example, here's an article from Jan 8, 2009....almost two full weeks before Bush left office, almost two full months before the stimulus bill was passed into law:

      http://www.csmonitor.com/...

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