It's a paradox. In the past year and a half, the Obama Administration has tackled a number of "third-rail" issues o other president has been at all succ..."/>
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REAL WORLD EVENT DISCUSSIONS
Obama Paradox
Saturday, July 24, 2010 9:23 AM
NIKI2
Gettin' old, but still a hippie at heart...
Saturday, July 24, 2010 9:48 AM
WHOZIT
Quote:Originally posted by Niki2: It's a paradox. In the past year and a half, the Obama Administration has tackled a number of "third-rail" issues o other president has been at all successful in dealing with...if they even tried. They've made strides in financial reform, health care, student loan reform, stimulus package, DADT, and at least tried on energy. And don't forget the Lilly Ledbetter. Yet all we hear is how "evil" they are. You may not agree with what they've done--certainly I don't, in that the final bills have been so watered down as to be ineffective, and in some cases will have the opposite effect than intended, but it's a START, and some of it IS good. So why do we hear nothing about that? Why is the grinding cry "bad President, bad President" ALL the time? Yeah, he's caved on too much, he hasn't done enough to repair the damages Dumbya left us with, and he's too wishy-washy. But how many Presidents have even TRIED this much in this short a time? And how much of it, now that it's law, can we improve to make what he (and we) wanted...which is the first step? The hatred of Obama seems to be so strong that NOTHING is being seen as positive. Not only that, but the Repubs "party of no" tactics have made sure the bills ended up being only semi-helpful, even tho' they BACKED some of the ideas until he came into office. Anyone know who FIRST was in favor of Cap and Trade...who used it as a campaign promise? Clinton failed at health care; all Repub Presidents have wanted to do is privatize Social Security, Medicare, and keep the health-insurance companies Big Oil and Wall Street fat and happy. All three had carte blanche during Dumbya's time; Obama TRIED to get a moratorium to make sure things were safe and revisit the issue (anyone notice that judge's affiliations with Big Oil?). Just think how GOOD those bills could have been if the Republicans had participated. As it was, a lot of their suggestions were incorporated, and still they voted "no". What exactly is their platform on these issues, how do they suggest fixing things? I haven't heard anything from them except "Obama Bad"...I'd like to know what ideas they have, if any, to show their being in power would have improved this or WOULD improve things in the future. Mind you, I am NOT happy, but I'm willing to give the man his due, and applaud him for at least TRYING. Here are a few things he's begun or accomplished thus far: â˘"Returning science to its rightful place" by lifting the Bush restrictions on federally funded embryonic stem cell research. â˘Signing laws to expand children's health insurance (financed by a 61-cent per pack increase in the federal cigarette tax the adviser did not tout). â˘Signing a law meant to improve the ability of women who allege pay discrimination to sue their employer. â˘Lifting travel and remittance restrictions for Cuban Americans who seek to travel more frequently to the island and send more US currency to their immediate family. â˘signed a law supporting increased financial aid to severely injured war veterans, and their caretakers. â˘Put a hold on Artic oil exploratory digging until environmental impacts are clear. â˘Passed health care reform. â˘signed a hate crime bill. â˘passed financial reform. â˘Passing the "largest" economic stimulus bill in American history. â˘Established a National Performance Officer charged with saving the federal government money and making federal operations more efficient. Reports to the deputy director of the Office of Management and Budgets. Specific duties require finding new efficient ways of operating. â˘Ordered all federal agencies to undertake a study and make recommendations for ways to cut future spending. â˘Ordered a review of all federal operations to identify and cut wasteful spending and practices. â˘Initiated changes in federal procurement policies and procedures. â˘Implemented 'PayGo' procedures by telling congress that no bill will be signed if there is not a way to pay for it. â˘Placed limits on lobbyist's access to the White House. â˘Placed limits on White House aides working for lobbyists after their tenure in the administration. â˘Required lobbyists to be removed from federal advisory study panels. â˘Suspended acquisition of expensive fleet of 28 new (foreign built) Marine One helicopters that was projected to be over budget by billions of dollars. A new domestically produced modified version of current production civilian helicopters is being looked at by the Pentagon. â˘Limited salaries of senior White House aides and cut maximum salary to $100,000. â˘Initiated housing rescue plan. â˘Improved loan guarantees to small businesses and lowered small business loan interest rates. â˘Initiated policies that allow the public to meet with federal housing insurers to refinance a mortgage if they are having trouble paying. Has further reinforced the policy to improve usage of the program. â˘Instituted a new focus on reducing mortgage fraud. Closed offshore tax safe havens. â˘Negotiated deal with Swiss banks to permit US government to gain access to records of tax evaders and criminals. â˘Ended the previous policy of offering tax benefits to corporations who outsource American jobs. Initiated a new policy is to promote in-sourcing to bring jobs back. â˘Ended the previous practice of protecting credit card companies. Replaced it with new consumer protections from credit card industry's predatory practices. Moved dates of implementation forward when credit card companies arbitrarily upped rates ahead of planned reform date. â˘Increased student loans while reducing the costs to the federal government by 87 billion dollars over ten years. â˘Increasing opportunities in AmeriCorps program. â˘Provided new funds for school construction in stimulus program. â˘Ended the previous stop-loss policy that kept soldiers in Iraq and Afghanistan longer than their enlistment date. â˘Insured that better body armor is now provided to our troops. â˘Increasing pay and benefits for military personnel. â˘Ended media blackout on covering the return of fallen soldiers to Dover AFB. â˘Proposed increasing the amount of government and private money spent on scientific research to three percent of the nation's economic output. â˘Ended previous practice of having White House aides rewrite scientific and environmental rules, regulations, and reports. Increased infrastructure spending (roads, bridges, power plants) after years of neglect. â˘Initiated efforts to expand broadband Internet access to rural areas. â˘Ended the previous practice of forbidding Medicare from negotiating with drug manufacturers for cheaper drugs. The federal government is now realizing hundreds of millions in savings thus lowering the drug costs for seniors. â˘Re-established diplomacy and the state department as a significant factor in foreign policy. â˘Visited more countries and met with more world leaders than any president in his first six months in office. Re-establishing good relations with both friends and others. â˘Ended the previous administration's torture policy and returned US to compliance with the Geneva Convention standards. â˘Restarted the nuclear nonproliferation talks and building back up the nuclear inspection infrastructure and protocols. As to the two wars: â˘Ordering the closing of Guantanamo Bay military detention facility and abolishing "enhanced interrogation techniques." â˘Setting a fixed timetable for withdrawing U.S. combat forces from Iraq. We'll have to wait and see how those turn out. You might not agree with any of those, but doesn't he get credit for SOME of them? Why is he so universally considered the "Evil Overlord" and why does nobody mind the Repubs styming everything they can yet offering nothing of substance in return? I don't get it. I know we're supposed to hate whatever government is in office, but I happen to think some of these are GOOD things. Hippie Operative Nikovich Nikita Nicovna Talibani, Contracted Agent of __________________, code name âNikeâ, signing off
Saturday, July 24, 2010 11:35 AM
GEEZER
Keep the Shiny side up
Saturday, July 24, 2010 1:42 PM
FUTUREMRSFILLION
Saturday, July 24, 2010 2:21 PM
Saturday, July 24, 2010 2:26 PM
KPO
Sometimes you own the libs. Sometimes, the libs own you.
Saturday, July 24, 2010 3:42 PM
Sunday, July 25, 2010 1:02 AM
RIVERLOVE
Sunday, July 25, 2010 1:20 AM
Sunday, July 25, 2010 2:14 AM
AURAPTOR
America loves a winner!
Sunday, July 25, 2010 2:16 AM
Sunday, July 25, 2010 2:20 AM
Quote:Originally posted by FutureMrsFIllion: Bottom line? Because he is a black man ane white conservative amwrica can't handle it.
Monday, July 26, 2010 6:13 AM
Monday, July 26, 2010 6:25 AM
WULFENSTAR
http://youtu.be/VUnGTXRxGHg
Monday, July 26, 2010 6:41 AM
Monday, July 26, 2010 6:59 AM
DREAMTROVE
Monday, July 26, 2010 7:27 AM
Monday, July 26, 2010 7:38 AM
Monday, July 26, 2010 9:18 AM
Monday, July 26, 2010 11:56 AM
Monday, July 26, 2010 12:25 PM
Quote:attending town hall meetings, asking sincere and honest questions of their Representatives
Monday, July 26, 2010 12:47 PM
Quote:Of the possible challenges ahead for the Tea Party movement the two main ones are not from the left, but from the right. The first comes from social conservatives, or the religious right. The Tea Party movement is dominated by fiscal conservatives and leaders like Eric Odom of the American Liberty Alliance, who say social issues like abortion and gay marriage should be avoided. When asked about abortion, for instance, Tina Dupont of the Tea Party of West Michigan says the group does not discuss it. "Most of us are probably pro-lifers," she said. "But we avoid the topic because it is so divisive." This has been noted by some on the religious right. "At the national level you have people saying it is all about fiscal issues and not about social issues because they say they are divisive," said Tony Perkins, president of Christian lobby group the Family Research Council. Chris Merrill said while Tea Partiers can avoid divisive issues at meetings, they cannot if they run for office. "Running a campaign is different," he said. "At some point they have to take a stand on social issues." Some say a showdown between social and fiscal conservative groups may be inevitable. "Fiscal conservatives want to limit the size of government, social conservatives want to use government to further their agenda," Henson said. "That will likely cause problems."
Quote:Such is the zeal in portions of the âtea partyâ that it is not enough to sweep out living members of the establishment, such as U.S. Sen. John McCain, R-Ariz. A brisk, ideological scrubbing must be applied to history as well. So, Glenn Beck, speaking at the Conservative Political Action Conference this month, identified a great enemy of human freedom as ... Teddy Roosevelt. Beck highlighted this damning quote of the occupant of the Oval Office in 1901-1909: âWe grudge no man a fortune in civil life if it is honorably obtained and well used.â You donât discern the scandal in this statement? Look closer. âThis is not our Foundersâ idea of America,â explains Beck. âAnd this is the cancer thatâs eating at America. It is big government â itâs a socialist utopia.â Evidently, Beck believes ârealâ conservatives defend wealth that is dishonorably gained and then wasted. TR picked a number of fights with conservative Republicans, fight-picking being his favorite sport. But, he was a Republican who hated socialism. âIt would spell sheer destruction,â he said. âIt would produce grosser wrong and outrage, fouler immorality, than any existing system.â Modern corporate capitalism, he believed, was inevitable, even admirable. He also believed that overly centralized and unaccountable power in a capitalist system creates destructive clashes of labor and capital, rich and poor. So, he busted monopolistic trusts, imposed health standards on filthy meat-packing plants and promoted a more professional, merit-based civil service. Rooseveltâs progressivism could sound a bit like socialism. When courts struck down laws allowing strikes and limiting maximum work hours, Roosevelt warned, âIf the spirit which lies behind these ... decisions obtained in all the actions of the ... courts, we should not only have a revolution, but it would be absolutely necessary to have a revolution because the condition of the worker would become intolerable.â It was Rooseveltâs political purpose to avoid a revolution. He sought to preserve the market system by regulating its health, safety and fairness. This is an authentic conservative tradition: the use of incremental reform to diffuse radicalism. And, few today would wish to return to 19th century labor, health and antitrust standards. Those few, however, seemed to be in attendance at the conservative conference, determined to sharp-en an ideological debate. In the name of constitutional purity, they propose a great undoing. Not just the undoing of President Barack Obama. Also, undo Medicare and Social Security. Undo the American global commitments that proceeded from World War II and the Cold War. Undo progressive-era economic regulations. Undo it all â until America is left with a government appropriate to an isolated, 18th century farming republic. This is a proposal for time travel, not a policy agenda. The federal government could not shed these accumulated responsibilities without massive suffering and global instability. It is a decidedly radical and not conservative approach to governing. The alternative is a reform conservatism, of which Roosevelt is a distinguished ancestor. Since the repeal of modernity is not an option, make modern institutions work. Update Medicare and Social Security to encourage market choices and ownership. Bust the public education trust with competition. Diffuse radicalism with reform. The debate between conservative doers and undoers is ideologically interesting, but in the political realm there is little debate. A candidate running recently in Virginia, New Jersey or Massachusetts on a Beck/Paul platform would have duplicated Paulâs results during his 1988 presidential run. Paul gained less than one-half of 1 percent of the vote. All the Republican winners in these states promised reform of government, not its abolition. But, I fear that the undoers may resemble Teddy Roosevelt in one disturbing aspect. This I have against the Rough Rider: In the 1912 election, he betrayed his friend, William H. Taft, and his party by running as a third-party candidate. In his hubris, he believed that neither party met his exacting standards of purity. The attitude is familiar today.
Monday, July 26, 2010 1:06 PM
Quote: Well, we will see how it works. There are always other ways.
Quote:The Patriot Act? Do we want comtinie the wars in Afghanistand and Iraq? GitMo?
Monday, July 26, 2010 1:14 PM
Monday, July 26, 2010 1:35 PM
KWICKO
"We'll know our disinformation program is complete when everything the American public believes is false." -- William Casey, Reagan's presidential campaign manager & CIA Director (from first staff meeting in 1981)
Quote:Originally posted by Wulfenstar: The Tea Party people deserve the blame for standing up against a tyranical government, and doing it in the most democratic way, while allowing for their identities to be known. Silly them. Trying to affect change in a non-violent way. Well, we will see how it works. There are always other ways. "Being called a racist by a Liberal is a badge of honor."
Monday, July 26, 2010 1:42 PM
Quote:Originally posted by AURaptor: The Tea Parties deserves [sic] the "blame" for daring to stand up to the ever expanding , free spending , hyper taxing Imperial Federal Gov't.
Quote: The Tea Party deserves the "blame" for attending town hall meetings, asking sincere and honest questions of their Representatives, and daring to not be treated like little children by over paid, glorified public servants.
Monday, July 26, 2010 1:47 PM
Monday, July 26, 2010 1:56 PM
ANTHONYT
Freedom is Important because People are Important
Monday, July 26, 2010 4:44 PM
Quote:Originally posted by Wulfenstar: Aww Kwick.. are we bothering you? Ok. We'll stop trying to make things better. For you.
Quote: You poor thing. It must be tough. People have woken up and really, REALLY dont like your "savior". Its tough for hard core liberalistas right now... I sympathize. I really do. People arnt buying the whole government being your parent thingy... and its driving those who desperatly WANT the government to be their parent.... mad.
Quote: There there little one. You might, just MIGHT, have to grow up if we finally win.
Monday, July 26, 2010 6:33 PM
ANTIMASON
Tuesday, July 27, 2010 1:37 AM
KANEMAN
Quote:Originally posted by Niki2: You're forgetting a couple of things, Wulf: a) She's not "my girl"...she's just the one journalist I've noted who has her people do her homoework, so I trust her more than I trust a lot of MSM. I don't trust the MSM in general, but history has shown she's pretty reliable most of the time. I believe there's enough blame to go all around, from Obama to administration, Republicans, and the Tea Party. Hippie Operative Nikovich Nikita Nicovna Talibani, Contracted Agent of __________________, code name âNikeâ, signing off
Tuesday, July 27, 2010 1:43 AM
Quote:Originally posted by antimason: this talking point on the left to blame "Dumbya" for this abysmal, non existent 'recovery' just isn't holding water anymore. Obama isn't cleaning up any mess that the democrats weren't also equally responsable for. the democrats have had majorities in the house and senate for 4 years, and total control for almost 2 years now. not coincidentally, the deficits have exploded exponentially since then(although in conjunction with liberal republicans). but just under the current president, the trillion dollar stimulus was a failure, the healthcare bill is a nightmare, and financial reform and cap and trade will all be huge tax increases on everybody. and the Bush tax cuts expire soon, on top of everything. in other words, we've basically turned a crash, similar to '29, into what will become a another 15 year long great depression. and, just as it was then, this is the fault of flawed economic theories, wich will result in the same predictable outcome. so because i fundementally disagree with the agenda of the current party in power, i don't see a whole lot to be praiseworthy about towards president Obama and the dems if he was a libertarian, as charasmatic a person as he is, you want to like him- he could be one of the greatest presidents in modern history. and how oppertune a time, when we need his abilities of persuasion and charisma to advocate the principles liberty. you notice he never talks about these concepts though.. he truly believes in a command and control, top down centralized society. and you just cant run peoples lives, in will never work about the surpluses under Clinton, does any of that credit go to the republican party, who took control of the house and senate for the first time in 20-30 years? it was a generation of Reagan era conservatives who did that. eventually the power corrupted them though, and they became socially conservative liberals. but when Bush was elected in 2000, republicans had an oppertunity to decentralize this top heavy authoritarian government, purge the beauracracy and return back to classical laissez faire capitalism, and they blew it! and this perception among the left of massive deregulation during this period, what are you talking about? in fact, what regulations were put in place, such as in housing and banking, turned out to be counterproductive and harmful to the economy, as evidenced by our current situation. and on the Bush tax cuts, if they were indeed only for the super rich, which is untrue but the common myth among the left, what is the left admitting is wrong with that? its an admission in premise that a tax cut is a benefit to people. why then does the left demonize the Bush tax cuts, which benefit a broad range of people of all tax and income brackets? or, why not propose tax cuts greater then 'Bushs'? i dont get it.. and out of pure partisanship you will let them expire, and punish everyone. but if you think letting these cuts expire will result in greater revenues to the federal government(maybe in hopes to pay off this massive deficit), you've got an important lesson in economics coming to you
Tuesday, July 27, 2010 5:58 AM
Quote:Originally posted by AnthonyT: P.S. Any chance we can cut out the tea-bagger stuff? Slapping folks who are already polarized isn't gonna mellow 'em out.
Tuesday, July 27, 2010 6:28 AM
Tuesday, July 27, 2010 7:51 AM
MAL4PREZ
Tuesday, July 27, 2010 7:55 AM
Quote: But if one takes into account how it got there, and that it was grown without any attention to infrastructure, with tax cuts and benefits to the rich, and by trashing the economy, that leaves a lot for anyone following Bush to âfixâ.
Quote: And yes, those âflawed economic theoriesâ were begun under Bush, copying Reaganâs âvoo doo economicsâ, as even Pappa Bush realized. You cannot damn any one party without taking history into account, much as youâd like to, I know. No President acts within a vaccum.
Quote: I fully agree with your second paragraph, DT, except I think the reasons are different, as I posted before. Most of the third as well, except for the tax cuts part. Iâve shown over and over that trickle-down does NOT work; so thereâs no debating, since you are convinced despite hefty evidence that it does. Tax cuts do increase the deficit, thatâs also been shown over and over, despite Republican talking points that they âpay for themselvesââthey simply do NOT. Notice how the debt/GDP ratio was RAISED under Reagan, Bush I and Bush IIâReagan was the big believer in Tricke-Down, so if it works so well and tax cuts work so well, why is that the case?
Tuesday, July 27, 2010 8:03 AM
Quote:Originally posted by Kwicko: Quote:Originally posted by AnthonyT: P.S. Any chance we can cut out the tea-bagger stuff? Slapping folks who are already polarized isn't gonna mellow 'em out. Shall I use Tea Party-backed candidate Ken Buck's words for them, and just call them "those dumbasses in the Tea Party"? After all, they still seem to be backing him, even after he referred to them as "dumbasses" when he was discussing them with a Democrat colleague. AURaptor's Greatest Hits: Friday, May 28, 2010 - 20:32 To AnthonyT: Go fuck yourself. On this matter, make no mistake. I want you to go fuck yourself long and hard, as well as anyone who agrees with you. I got no use for you. Friday, May 28, 2010 - 18:26 To President Obama: Mr. President, you're a god damn, mother fucking liar. Fuck you, you cock sucking community activist piece of shit. ... go fuck yourself, Mr. President.
Tuesday, July 27, 2010 8:16 AM
Quote:Originally posted by Niki2: Notice how the debt/GDP ratio was RAISED under Reagan, Bush I and Bush IIâReagan was the big believer in Tricke-Down, so if it works so well and tax cuts work so well, why is that the case? I already explained the blame I place on the Tea Party, so wonât repeat myself. And Iâll put Maddowâs fact checking up against ANY fact checking done by FauxNews, happily. To say otherwise is to ignore the facts, or to be ignorant of who checks them and who does not. To say she is all opinion is pure partisan bullshit unless proven otherwise, which is impossible. Itâs obvious such an opinion is garnered from other sources than actually checking anything out. Hippie Operative Nikovich Nikita Nicovna Talibani, Contracted Agent of __________________, code name âNikeâ, signing off
Tuesday, July 27, 2010 8:20 AM
Quote:Originally posted by kaneman: Quote:Originally posted by Kwicko: Quote:Originally posted by AnthonyT: P.S. Any chance we can cut out the tea-bagger stuff? Slapping folks who are already polarized isn't gonna mellow 'em out. Shall I use Tea Party-backed candidate Ken Buck's words for them, and just call them "those dumbasses in the Tea Party"? After all, they still seem to be backing him, even after he referred to them as "dumbasses" when he was discussing them with a Democrat colleague. AURaptor's Greatest Hits: Friday, May 28, 2010 - 20:32 To AnthonyT: Go fuck yourself. On this matter, make no mistake. I want you to go fuck yourself long and hard, as well as anyone who agrees with you. I got no use for you. Friday, May 28, 2010 - 18:26 To President Obama: Mr. President, you're a god damn, mother fucking liar. Fuck you, you cock sucking community activist piece of shit. ... go fuck yourself, Mr. President. "Those dumb-asses that keep asking me about birth certificates"....Tea party is not birthers....Only idiots believe he was talking about the tea party and not birthers who are their own one issue morons. Keep watching olberman and maddow. And next time when you use quotes don't make em up. You have zero credibility on this board. Why don't you go back and change your posts like you do with AuRaptor you little homosexual.
Quote:"Will you tell those dumbasses at the Tea Party to stop asking questions about birth certificates?"
Tuesday, July 27, 2010 8:26 AM
STORYMARK
Quote:Originally posted by AURaptor: The Tea Parties deserves the "blame" for daring to stand up to the ever expanding , free spending , hyper taxing Imperial Federal Gov't. The Tea Party deserves the "blame" for attending town hall meetings, asking sincere and honest questions of their Representatives, and daring to not be treated like little children by over paid, glorified public servants.
Tuesday, July 27, 2010 10:33 AM
HERO
Quote:It's a paradox.
Tuesday, July 27, 2010 10:42 AM
Tuesday, July 27, 2010 10:53 AM
Quote:Originally posted by Wulfenstar: After ramming an illegal and unConstitutional ObamaCare down the peoples throats... after spending their money to bail out compainies undeserving of continuation... after attempting to socialize everything... the free American people hate us? How can THAT be?
Tuesday, July 27, 2010 11:12 AM
Quote: Some critics continue to assert that President George W. Bushâs policies bear little responsibility for the deficits the nation faces over the coming decade â that, instead, the new policies of President Barack Obama and the 111th Congress are to blame. Most recently, a Heritage Foundation paper downplayed the role of Bush-era policies (for more on that paper, see p. 4). Nevertheless, the fact remains: Together with the economic downturn, the Bush tax cuts and the wars in Afghanistan and Iraq explain virtually the entire deficit over the next ten years (see Figure 1). The deficit for fiscal year 2009 was $1.4 trillion and, at nearly 10 percent of Gross Domestic Product (GDP), was the largest deficit relative to the size of the economy since the end of World War II. If current policies are continued without changes, deficits will likely approach those figures in 2010 and remain near $1 trillion a year for the next decade. The events and policies that have pushed deficits to these high levels in the near term, however, were largely outside the new Administrationâs control. If not for the tax cuts enacted during the presidency of George W. Bush that Congress did not pay for, the cost of the wars in Iraq and Afghanistan that were initiated during that period, and the effects of the worst economic slump since the Great Depression (including the cost of steps necessary to combat it), we would not be facing these huge deficits in the near term. While President Obama inherited a dismal fiscal legacy, that does not diminish his responsibility to propose policies to address our fiscal imbalance and put the weight of his office behind them. Although policymakers should not tighten fiscal policy in the near term while the economy remains fragile, they and the nation at large must come to grips with the nationâs long-term deficit problem. But we should not mistake the causes of our predicament. Recession Caused Sharp Deterioration in Budget Outlook Whoever won the presidency in 2008 was going to face a grim fiscal situation, a fact already well known as the presidential campaign got underway. The Congressional Budget Office (CBO) presented a sobering outlook in its 2008 summer update,[1] and during the autumn, the news got relentlessly worse. Fannie Mae and Freddie Mac, the two government-sponsored enterprises (GSEs) that became embroiled in the housing meltdown, failed in early September; two big financial firms â AIG and Lehman Brothers â collapsed soon thereafter; and others teetered. In December 2008, the National Bureau of Economic Research confirmed that the nation was in recession and pegged the starting date as December 2007. By the time CBO issued its new projections on January 7, 2009 â two weeks before Inauguration Day â it had already put the 2009 deficit at well over $1 trillion.[2] The recession battered the budget, driving down tax revenues and swelling outlays for unemployment insurance, food stamps, and other safety-net programs.[3] Using CBOâs August 2008 projections as a benchmark, we calculate that the changed economic outlook accounts for over $400 billion of the deficit each year in 2009 through 2011 and slightly smaller amounts in subsequent years. Those effects persist; even in 2018, the deterioration in the economy since the summer of 2008 will account for over $250 billion in added deficits, much of it in the form of additional debt-service costs. Bush Tax Cuts, War Costs Do Lasting Harm to Budget Outlook Some commentators blame recent legislation â the stimulus bill and the financial rescues â for todayâs record deficits. Yet those costs pale next to other policies enacted since 2001 that have swollen the deficit. Those other policies may be less conspicuous now, because many were enacted years ago and they have long since been absorbed into CBOâs and other organizationsâ budget projections. Just two policies dating from the Bush Administration â tax cuts and the wars in Iraq and Afghanistan â accounted for over $500 billion of the deficit in 2009 and will account for almost $7 trillion in deficits in 2009 through 2019, including the associated debt-service costs. [6] (The prescription drug benefit enacted in 2003 accounts for further substantial increases in deficits and debt, which we are unable to quantify due to data limitations.) These impacts easily dwarf the stimulus and financial rescues. Furthermore, unlike those temporary costs, these inherited policies (especially the tax cuts and the drug benefit) do not fade away as the economy recovers (see Figure 1). Without the economic downturn and the fiscal policies of the previous Administration, the budget would be roughly in balance over the next decade. That would have put the nation on a much sounder footing to address the demographic challenges and the cost pressures in health care that darken the long-run fiscal outlook.[7] The Effect of President Obamaâs Budget The key question is: where do we go from here? President Obamaâs 2011 budget proposes to reduce anticipated deficits over the next ten years, chiefly by letting the Bush tax cuts for high-income taxpayers expire on schedule, closing certain tax loopholes and reforming the international tax system, keeping estate taxes at their 2009 parameters, enacting health care reform, and freezing (in aggregate) most appropriations for non-security domestic programs for the next three years. The President also supports another round of temporary recovery measures that would boost the deficit in 2010 through 2012, a proposal that is appropriate in size and well targeted.[8] Center on Budget and Policy Prioritiesâ analyses have found that in aggregate, the Presidentâs proposals would reduce deficits over the 2011-2020 period by an estimated $1.3 trillion.[9] Like most fiscal analysts, we believe that the Administration and Congress will need to take considerably larger steps. The President himself acknowledges that his proposals do not fully put the budget on a sustainable footing and has established a bipartisan fiscal commission to recommend more substantial deficit reductions. First and foremost, policymakers will need to restrain the growth of health care costs. The health reform legislation begins that process. It takes important initial steps to restructure the health care payment and delivery systems and to move away from paying providers for more visits or procedures and toward rewarding effective, high-value health care. As we learn more about how to slow health care cost growth without endangering health care quality, strong additional measures will be essential. But restraining health care cost growth will not itself be sufficient to address the long-term fiscal problem. Other actions also will be needed, including steps to raise additional revenue and make changes in other programs.
Wednesday, July 28, 2010 4:07 AM
Wednesday, July 28, 2010 5:34 AM
Quote:Originally posted by Wulfenstar: 5. continuing unemployment benefits, and regulating business only DEEPEN our financial hole.
Wednesday, July 28, 2010 6:04 AM
Quote:What reasons do high RWAs give for giving equality short-shrift? Well, they say, ultimately complete equality is a pipe dream. Natural forces inevitably govern the worth of the individual. And people should have to earn their places in society, not get any free rides. The poor can pull themselves up by their bootstraps if they really want to. Lots of people have, havenât they? Given all of this, do you trust him when he says heâs in favor of a level playing field? Heâs against programs that would give the disadvantaged a better chance. Does he really believe the poor can pull themselves up by their bootstraps, or is he content to let them face an uphill struggle that very few can overcome? It doesnât bother the high RWA that masses of people are poor. Thatâs their tough luck. And some racial groups are just naturally inferior to others, he says.
Wednesday, July 28, 2010 6:15 AM
Wednesday, July 28, 2010 6:17 AM
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