I was just talking to a friend about this, that Obama’s fixation on the deficit meant that Americans were deprived of social services at a time when they needed them the most. I don’t want to hear any crap about how “his hands were tied.” Bullshit. He validated this wingnut bullshit every time he opened his mouth, and I won’t ever forget it:
WASHINGTON–The U.S. government’s gap between spending and revenue will be narrower both this year and later in the decade compared with prior estimates, driven in part by reductions in near-term military spending and falling longer-run costs associated with the Affordable Care Act, the Congressional Budget Office said.
The CBO, a nonpartisan agency that advises Congress on budget policy, on Monday said the adjustments will lower its forecast for the 2014 deficit to $492 billion, or $23 billion less than it estimated two months ago. That’s equivalent to 2.8% of gross domestic product, marking the smallest deficit since 2007. Since 1980, the deficit has averaged roughly 3.2% of GDP.
CBO also reduced the government’s projected 10-year deficit by $286 billion, to $7.6 trillion, mainly because of lower subsidies related to the health-care law. Future Medicare spending was also revised lower.
The estimates come during a brief period of rapidly shrinking budget deficits, forcing both political parties to rethink their approaches to taxes and spending heading into the November midterm elections. The White House and Republican lawmakers have battled over the deficit for years, primarily through protracted debates over how much revenue to collect and how to structure government programs.
If Barry didn’t exist Wall Street would have invented him.
Adams, what makes you think Wall St didn’t invent Barry? They new that the administration of Bush the Stupid had destroyed the Repub brand and that pretty much any Dem was a shoo-in. Maybe they looked around at the Dem field and decided to invest in Barry futures. Wall St et al sure as hell gave tons of money to him pre-2008.
Well Tim Geitner and Cass Sunstein were on board, so it was a no-brainer really.
coloradoblue: Exactly. We’re on the same page.
secondharmonic: Please, don’t use those two names in the same sentence. I….can’t….take….it. ARrrrrgh…can’t breathe….. But above all don’t add the third one…….