[Guest post by DRJ]
The original Obama Administration-CBO projected deficit chart:
From Doug Ross, the updated deficit chart shows the deficit is 25% higher than the original forecasts:
The Cloward/Piven strategy is working. This is total economic meltdown.
— DRJ
Pronounced "Patter-EE-koh"
E-mail: Just use my moniker Patterico, followed by the @ symbol, followed by gmail.com
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Yeah, but think of all the money we are going to cut from the deficit once Obama/Pelosi/Reidcare is passed.
[crickets]
Hello, is this thing on?
JVW (0fe413) — 12/6/2009 @ 8:27 pmDoes that include dirty socialist whore economist Mark Zandi’s third stimulus package that he’s paid to advocate for? Him and Jeannine Aversa have been working the pole really hard for that.
happyfeet (2c63dd) — 12/6/2009 @ 8:35 pmonce they regulate CO2, there won’t be an economy to tax anyway, so none of this really matters, does it?
redc1c4 (fb8750) — 12/6/2009 @ 8:42 pmSo, when we tax what’s left of American heavy industry into the ground with CO2 taxes and the Dems need monies for a third “stimulus” bill……
Will the Chinese pull the financial plug?
Techie (482700) — 12/6/2009 @ 8:47 pmThese people are shameless. Baucus nominates his girlfriend to be uS attorney for Montana and there is no scandal. They are destroying the dollar and there is no scandal. I hate to think of my kids living ion the world these people are making but three of them voted for Obama. I guess they deserve it.
Mike K (2cf494) — 12/6/2009 @ 8:48 pmAll I would say, Dr. K., is that things are seldom as terrible as we fear, or as wonderful as we hope. I keep thinking about the “Teapot Dome,” or FDR’s policies. Lots of other examples here.
Eric Blair (91356a) — 12/6/2009 @ 8:52 pm#6 Eric Blair:
And there. The Stasi. The Politburo. The Young Pioneers. The Starvation of the Kulaks.
EW1(SG) (edc268) — 12/6/2009 @ 9:10 pmSo, Barcky’s best year is much worse than Bush’s worst year, but Bush’s deficits were evil.
JD (f9ce34) — 12/6/2009 @ 9:20 pm#8 JD: Denounce yourself as an unbeliever in teh narrative.
/And the O!ne was gonna bring you a unicorn for MidWinter Holiday, too.
EW1(SG) (edc268) — 12/6/2009 @ 9:25 pmSo you are happy because “we have a president that can put two sentences together.” But sooner or later you’ll be no better off than a junky. So have fun now because sooner or later you’re no better than a pathetic hype.
Alta Bob (e8af2b) — 12/6/2009 @ 10:17 pmI wonder if that red ink contains allocations for all of the body bags that will be needed for the coming revolution;
AD - RtR/OS! (f2588c) — 12/6/2009 @ 10:28 pmor, will they just leave the bodies of the Progressives rotting in the sun?
The only things that held value through the Carter inflation were houses and stocks. Oh, and fixed-rate mortgages; those were really rather good.
Kevin Murphy (3c3db0) — 12/6/2009 @ 11:36 pmThey will blame it on Bush, you know. If enough network newspeople say it, it might stick.
Kevin Murphy (3c3db0) — 12/6/2009 @ 11:38 pmI hate to think of my kids living ion the world these people are making but three of them voted for Obama. I guess they deserve it.
In a similar vein, I’m reminded of all the residents of California who — based on polls — say their state is headed in the wrong direction, and whose better days have come and gone, and yet are the very ones who’ve allowed the state’s government to be dominated by liberals/Democrats.
When blame is to be assessed, such people — such voters — had better point the finger (middle one or otherwise) towards themselves.
Mark (411533) — 12/6/2009 @ 11:43 pm“I wonder if that red ink contains allocations for all of the body bags that will be needed for the coming revolution;
or, will they just leave the bodies of the Progressives rotting in the sun?”
First we allocate a copy of hte Turner Diaries to every wingnut.
imdw (2e60b1) — 12/7/2009 @ 4:31 amImdw – What do you have to say about Barcky’s crushing deficits?
JD (b1f7fc) — 12/7/2009 @ 4:56 amHow crushing are they? I’ve previously said we need deficits during bad times and we need to get rid of them during good times, and all of this should be done based on what has goo multipliers. So we’d need more information to be able to tell. Or we could just predict the revolution based on it.
imdw (017d51) — 12/7/2009 @ 5:06 amthat should be ‘good multipliers.’
imdw (017d51) — 12/7/2009 @ 5:07 amWhat do you consider to be a good multiplier?
JD (b1f7fc) — 12/7/2009 @ 5:14 amA good multiplier? I think that’s where you lose a few dollars on each transaction, but make it up in volume. As predicted, losses pile up quickly, causing the business to fail. In Federal Government terms, you need to create losses in each government program. We’re now getting synergy around this process; collective results will lead to the expected and desired economic collapse. Followed by a flattening of the classes, making all of us equal; joy will abound as we enter utopia.
Corwin (ea9428) — 12/7/2009 @ 5:40 amWell, if underestimating/overspending on the projected deficit is fine and necessary for economic recovery, why stop?
Surely 50% overshoot would do twice as much good then?
Techie (482700) — 12/7/2009 @ 7:10 amI’ve previously said we need deficits during bad times and we need to get rid of them during good times
By the logic you display here, Congress should just eliminate the debt ceiling and run up a $50 trillion dollar deficit. Hey, we’re not going to pay back that current $12 trillion defict anytime soon, right?
We can call it a “strategic default,” and Argentina and Iceland won’t have to feel so alone anymore in the Fiscally Busted Countries Hall of Fame.
Another Chris (2d8013) — 12/7/2009 @ 7:30 amJapan’s “lost decade” and FDR’s “great depression extended several years” is proof Keynesian macroeconomics works for certain groups. Just not groups called nations.
John Hitchcock (3fd153) — 12/7/2009 @ 7:47 amSo we’d need more information to be able to tell.
Translation – I’m not going to offer a definitive opinion as is my usual MO, and instead engage in elliptic responses and fatuous analogies.
Dmac (a964d5) — 12/7/2009 @ 8:22 amThe Democrats have turned a bad recession into an economic disaster that will take a generation to reverse … assuming that the electorate realizes just how badly they’ve been screwed by Democrats.
SPQR (26be8b) — 12/7/2009 @ 8:57 am“What do you consider to be a good multiplier?”
Things that higher, rather than lower numbers on table 2 here:
http://cbo.gov/ftpdocs/106xx/doc10682/11-30-ARRA.pdf
imdw (2f4178) — 12/7/2009 @ 9:47 amObama changed his travel plans so he could go to Oslo for the International Jihadi award ceremony.
He’s getting the prize for this year’s Most Promising Newcomer in the continuing series category, Devastating Blows to the Great Satan’s Economy. He also got Honorable Mention for his contributions in two other areas: Undermining US Military Operations, and Openly Pandering to Saudi Arabian Potentates.
Some voting members of the Cloward/Priven Academy wanted to put Barack Obama’s gilded likeness on a high central pedestal so all attending sycophants will be able to worship the Golden One simultaneously in a show of solidarity with the goals of International ACORN and SEIU.
However, it proved too difficult to reconcile Islamic objections to the use of godlike Idols with Obama’s demand that his statue be larger and more splendid that the Statue of Liberty, in keeping with his pledge to bring light to the world, before he ended capitalism, set the 9/11 jihadis free, and closed GITMO.
ropelight (79cdd5) — 12/7/2009 @ 10:31 amThanks for the link imdw. I love this sentence in regards to the number of jobs created or saved: “…it is impossible to determine how many of the reported jobs would have existed in the absence of the stimulus package.” That about sums up our Federal Government’s ability to create a program and monitor its effectiveness.
Corwin (ea9428) — 12/7/2009 @ 10:50 amComment by imdw — 12/7/2009 @ 4:31 am
The only thing “wrong” about The Turner Diaries was the extreme anti-Semitism, which made it sound like it was written by a Progressive.
AD - RtR/OS! (e77d9d) — 12/7/2009 @ 12:54 pm“Things that higher (sic), rather than lower numbers on table 2 here:…”
How’s that Remedial English class getting along?
AD - RtR/OS! (e77d9d) — 12/7/2009 @ 12:56 pmCheney to Treasury: “Deficits don’t matter”
Former Treasury Secretary Paul O’Neill was told “deficits don’t matter” when he warned of a looming fiscal crisis.
O’Neill, fired in a shakeup of Bush’s economic team in December 2002, raised objections to a new round of tax cuts and said the president balked at his more aggressive plan to combat corporate crime after a string of accounting scandals because of opposition from “the corporate crowd,” a key constituency.
O’Neill said he tried to warn Vice President Dick Cheney that growing budget deficits-expected to top $500 billion this fiscal year alone-posed a threat to the economy.
Cheney cut him off. “You know, Paul, Reagan proved deficits don’t matter,” he said, according to excerpts. Cheney continued: “We won the midterms (congressional elections). This is our due.” A month later, Cheney told the Treasury secretary he was fired.
The vice president’s office had no immediate comment, but John Snow, who replaced O’Neill, insisted that deficits “do matter” to the administration. Source: [X-ref O’Neill] Adam Entous, Reuters, 1/11/04
DCSCA (9d1bb3) — 12/7/2009 @ 12:58 pmComparing the Reagan/Bush-43 deficits to the red-ink generated by Teh One, is as comparing an ant-hill to Mt.Everest.
You really should seek professional help for your astigmatism.
AD - RtR/OS! (e77d9d) — 12/7/2009 @ 2:10 pm“The only thing “wrong” about The Turner Diaries was the extreme anti-Semitism, which made it sound like it was written by a Progressive.”
So wikipedia describes it as “The Turner Diaries depicts a violent revolution in the United States which leads to the overthrow of the United States federal government, nuclear war, and, ultimately, to the extermination of all Jews and non-whites.”
So to AD, the only problem here is the ‘anti-semitisim’ All those non-whites, well….
It’s fiction. Eliminationist wingnut porn. And it’s got some function, as it brings morons like you out of their closet.
imdw (75923b) — 12/7/2009 @ 3:08 pmThe IMP parodies himself again.
SPQR (26be8b) — 12/7/2009 @ 3:11 pmWell, the Anti-Semitism is of a part with the Racism found in the Progressive Movement.
You can deny it all you want, buy who are you going to believe, me or your lying eyes (which in this case are).
And, I don’t have to rely on Wiki for info on “Turner” as I read it during the Clinton Administration,
and found the denigration of minorities of all stripes abominable – YMMV!
But, just as the “racism” found in Huckelberry Finn does not negate its’ story, neither does the racism found in Turner negate its’ story of the struggle for Freedom & Liberty against a Totalitarian State.
AD - RtR/OS! (e77d9d) — 12/7/2009 @ 3:23 pm“Well, the Anti-Semitism is of a part with the Racism found in the Progressive Movement.”
How’d like that “cohen act” ?
“And, I don’t have to rely on Wiki for info on “Turner” as I read it during the Clinton Administration,and found the denigration of minorities of all stripes abominable – YMMV!”
So we’ve moved on from “the only thing wrong”…
“But, just as the “racism” found in Huckelberry Finn does not negate its’ story, neither does the racism found in Turner negate its’ story of the struggle for Freedom & Liberty against a Totalitarian State.”
This one is good.
imdw (16ff1a) — 12/7/2009 @ 7:48 pmLeave the troll to beclown itself. Maybe it should turn over it’s paycheck for some sort of “multiplier” to be decided later.
Techie (482700) — 12/7/2009 @ 9:04 pm[…] case you’ve forgotten (via Patterico), here’s the adjusted projected 10 year Obama […]
White House Job Summit Results? Spend More Borrowed Money | QandO (4844f0) — 12/8/2009 @ 5:44 am“Sen. Ben Nelson (D-Neb.) unveiled the “United States War Bonds Act of 2009″ early this afternoon, which would authorize the Treasury Department to begin selling bonds to fund the wars.”
Translation: “Don’t tax, borrow more!”
“Comparing the Reagan/Bush-43 deficits to the red-ink generated by Teh One”
http://www.nytimes.com/2009/06/10/business/economy/10leonhardt.html
Where does the deficit come from?
“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.”
Congratulations, you take yourself seriously. Aren’t you proud?
bored again (1d5327) — 12/8/2009 @ 12:19 pmAbject idiocy, boring always.
JD (2f79db) — 12/8/2009 @ 12:29 pm“Comparing the Reagan/Bush-43 deficits to the red-ink generated by Teh One”
LOL.
The New York Times compares the two?
Bush freed 26 million people. Reagan freeds hundreds of millions of people. Both led us in booms until the democrat congress got involved. Neither added as much to the deficit as Obama did. In fact, Obama added more to the deficit than all other US presidents combined, and even voted for the worst of Bush’s spending levels.
The right routinely criticized Bush 43’s spending. From day one. And they can’t criticize Reagan’s since he had to negotiate with the democrats in congress. It is deeply irrational to blame the president for what congress does, but this is the only way to exonerate the 2006-2008 Congress for destroying the US Economy. The democrats inherited a safer, wealthier nation, and plundered it. Obama’s deficits are simply in an entirely worse category than all other US Presidents, aside from perhaps FDR, who actually used the money to beat the Nazis.
The other real difference: Obama’s insane spending have made the world worse, while Reagan and Bush made the world a lot better.
Dustin (44f8cb) — 12/8/2009 @ 12:31 pm[…] this spending boondoggle that's worked so well in dampening unemployment.In case you've forgotten (via Patterico), here's the adjusted projected 10 year Obama budget:The dark red CBO shows the actual cost, not […]
WH Job Summit Results: Spend More Borrowed Money | Right Wing News (c8efe7) — 12/8/2009 @ 8:40 pm