President Obama!
- Thread starter passerby
- Start date
BABA, finally! YOU ARE CORRECT on something! Reagan DIDNT spend his entire first term blaming JIMMY CARTER! In fact, he spent BOTH TERMS BLAMING JIMMY CARTER!
This is a quote from RONALD REAGAN in 1983 ( psst.. three years into his term )
"The problems we inherited were far worse than most inside and out of government had expected; the recession was deeper than most inside and out of government had predicted. Curing those problems has taken more time and a higher toll than any of us wanted." ~Ronald Reagan
In Reagan's 1982 State of the Union, he went after his predecessor for blame plenty of times:
"To understand the State of the Union, we must look not only at where we are and where we're going but where we've been. The situation at this time last year was truly ominous."~Ronald Reagan
Reagan speaking in 1982:
"In the last six months of 1980, as an example, the money supply increased at the fastest rate in postwar history 13 percent. Inflation remained in double digits and Government spending increased at an annual rate of 17 percent. Interest rates reached a s taggering 21 1/2 percent. There were eight million unemployed."~ Ronald Reagan
Reagan speaking in 1984:
"First, we must understand what's happening at the moment to the economy. Our current problems are not the product of the recovery program that's only just now getting under way, as some would have you believe; they are the inheritance of decades of tax and tax, and spend"~Ronald Reagan
Reagan speaking at state of the union 1984:
"Now the budget deficit this year will exceed our earlier expectations. The recession did that. It lowered revenues and increased costs."~Ronald Reagan
It makes me laugh, when I see things like this picture posted. Reagan blamed Carter over two terms for the problems of the country.
Nice try.
Peace
TOS
island1fox
Well-Known Member
Ask Hoffa and Hall what they think about OBAMACARE !!!
island1fox
Well-Known Member
I believe it is only Bagels and TOS still singing the praises on Obamacare
Upsmule
Well-Known Member
Yet ostriches like yourself will ignore the truth in his words that were more than backed up with ACTION and RESULTS. For the sake of some bleeding heart agenda that mommy and daddy voted for so you may as well also. Did you enjoy waiting in gas lines during the 70's or were you still having your @ss powdered by mommy?
Upsmule
Well-Known Member
728ups
All Trash No Trailer
That danged ole pinkocommiekenyanmuslimsocialist recorded a HUGE budget surplus in June 2013
ASHINGTON -- The federal government on Thursday reported a rare surplus of $116.5 billion in June, the largest for a single month in five years. The gain kept the nation on track for its lowest annual deficit in five years.[/COLOR]
The June surplus was due in part to $66.3 billion in dividend payments from Fannie Mae and Freddie Mac. The mortgage giants were taken over by the government at the height of the 2008 financial crisis and are now repaying taxpayers for the support they received.
Through the first eight months of the budget year, the deficit has totaled $509.8 billion, according to the Treasury. That's nearly $400 billion lower than the same period last year.
The Congressional Budget Office forecasts the annual deficit will be $670 billion when the budget year ends on Sept. 30. If correct, that would be well below last year's deficit of $1.09 trillion and the lowest since President Barack Obama took office. It would still be the fifth-largest deficit in U.S. history.
The Obama administration also estimates a lower annual deficit, although it projects a slightly higher figure of $759 billion.
Steady economic growth and higher tax rates have boosted the government's tax revenue this year. At the same time, government spending has fallen. The dividend payments from Fannie and Freddie have also helped.
The government has collected $2.09 trillion in revenue so far this budget year, according to the June report. That's 14 percent more than the first eight months of the previous budget year.
It has spent $2.6 trillion so far, or nearly 5 percent less than the same stretch last year. The decline partly reflects the impact of the automatic spending cuts that began in March. Defense spending is down 7 percent. A better job market has also helped lower spending for unemployment benefits almost 25 percent.
Interest payments on debt are 4 percent lower than the same period last year. The improvement reflects the break the government is getting from record-low interest rates. But those payments will rise in coming years as the Federal Reserve allows interest rates to return to more normal levels.
The federal deficit represents the annual difference between the government's spending and the tax revenues it takes in. Each deficit contributes to the national debt, currently $16.7 trillion.
The improving deficit picture has taken pressure off negotiations to raise the federal borrowing limit, although that battle is likely to resurface in the fall. Obama has remained at odds with Republicans over cutting benefit programs and imposing further tax increases.
The deficit reached a record $1.41 trillion in budget year 2009, which began four months before Obama took office. The Obama administration was forced to deal with a severe economic downturn that reduced revenues and boosted government spending in such areas as unemployment benefits and food stamps. The government also had to allocate billions of dollars to stabilize the financial system.
The budget gaps in the next three years were slightly lower as a gradually strengthening economy generated more tax revenue.
President George W. Bush also ran large deficits through most of his two terms in office after he won approval for broad tax cuts and launched wars in Afghanistan and Iraq.
The last time the government ran an annual surplus was in 2001.]US Government Records $116.5 Billion Surplus In June
ASHINGTON -- The federal government on Thursday reported a rare surplus of $116.5 billion in June, the largest for a single month in five years. The gain kept the nation on track for its lowest annual deficit in five years.[/COLOR]
The June surplus was due in part to $66.3 billion in dividend payments from Fannie Mae and Freddie Mac. The mortgage giants were taken over by the government at the height of the 2008 financial crisis and are now repaying taxpayers for the support they received.
Through the first eight months of the budget year, the deficit has totaled $509.8 billion, according to the Treasury. That's nearly $400 billion lower than the same period last year.
The Congressional Budget Office forecasts the annual deficit will be $670 billion when the budget year ends on Sept. 30. If correct, that would be well below last year's deficit of $1.09 trillion and the lowest since President Barack Obama took office. It would still be the fifth-largest deficit in U.S. history.
The Obama administration also estimates a lower annual deficit, although it projects a slightly higher figure of $759 billion.
Steady economic growth and higher tax rates have boosted the government's tax revenue this year. At the same time, government spending has fallen. The dividend payments from Fannie and Freddie have also helped.
The government has collected $2.09 trillion in revenue so far this budget year, according to the June report. That's 14 percent more than the first eight months of the previous budget year.
It has spent $2.6 trillion so far, or nearly 5 percent less than the same stretch last year. The decline partly reflects the impact of the automatic spending cuts that began in March. Defense spending is down 7 percent. A better job market has also helped lower spending for unemployment benefits almost 25 percent.
Interest payments on debt are 4 percent lower than the same period last year. The improvement reflects the break the government is getting from record-low interest rates. But those payments will rise in coming years as the Federal Reserve allows interest rates to return to more normal levels.
The federal deficit represents the annual difference between the government's spending and the tax revenues it takes in. Each deficit contributes to the national debt, currently $16.7 trillion.
The improving deficit picture has taken pressure off negotiations to raise the federal borrowing limit, although that battle is likely to resurface in the fall. Obama has remained at odds with Republicans over cutting benefit programs and imposing further tax increases.
The deficit reached a record $1.41 trillion in budget year 2009, which began four months before Obama took office. The Obama administration was forced to deal with a severe economic downturn that reduced revenues and boosted government spending in such areas as unemployment benefits and food stamps. The government also had to allocate billions of dollars to stabilize the financial system.
The budget gaps in the next three years were slightly lower as a gradually strengthening economy generated more tax revenue.
President George W. Bush also ran large deficits through most of his two terms in office after he won approval for broad tax cuts and launched wars in Afghanistan and Iraq.
The last time the government ran an annual surplus was in 2001.]US Government Records $116.5 Billion Surplus In June
Upsmule
Well-Known Member
Imagine if those damn Taliban
Radicals in The House would stop standing in his way! Oh, wait?
Any way, there is no surplus in real life when there's a $16 Trillion deficit. Thanks also to Fanny and Freddy....as for the deficit, It would still be the fifth-largest in U.S. history.
oldngray
nowhere special
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