Obama wants to cut U.S. deficit in half by 2013

[smartguy911]

"The deficit this administration inherited was $1.3 trillion or 9.2 percent of GDP. By 2013, the end of the president's first term, the budget cuts the deficit to $533 billion or 3.0 percent of GDP," said the official who spoke on condition of anonymity.

"Most of the savings will come from winding down the war in Iraq, increased revenue from those making more than $250,000 a year, and savings from making government work more efficiently and eliminating programs that do not work," the official added.

http://news.yahoo.com/s/nm/20090221/ts_nm/us_obama_budget

[sevin]

"Read my lips, no new taxes."

"I did not sleep with that woman, Monica Lewinsky."

"Saddam Hussein has weapons of mass destruction."

[Young Paleocon]

OH How ever will he do it?! You mean to tell me he is going to cut the deficit all the way down to 533 billion dollars in just four freakin years?!?!?! Uhh how crazy isn't that about the same as the Bush 2007 deficit? Hmmm...I love change.

[Xenophage]

LOL!

Off to a great start!

[xd9fan]

1 term'er period

[Ex Post Facto]

And he will do it by further inflating the currency. You see, the more money he prints the less the debt becomes based on the money in circulation. He certainly isn't cutting spending.

Pretty tricky guy. Not only that but he makes it sound like he isn't responsible for the other portion of debt. "Well, that debt wasn't mine."

[AdamT]

How is this even remotely possible with trillion dollar bailouts and an outsourced manufacturing infrastructure?

[Aratus]

if obama's people in 2013 expect half the debt we have now after the stimulus
has been distributed, which would i gather have us having a debt equal to the
one bill clinton handed g.w bush... okay... he maybe MIGHT get re-elected... if....

he can pull it off. normally you would expect the stimulus to bring about TWICE
the debt in the same 4 year timeframe. clinton's debt accumulation is half that
of g.w bush, and NORMALLY we would assume with the way bernanke & paulson
went to the senate and house, obama's debt will accumulate twice as fast as the "W"...

[Aratus]

----potus g.w bush DOUBLED our debt in his fast and furious eight years...
----despite the stimulus, obama is asking for half the debt in four years???

[JoshLowry]

and free health care for everyone!

[Aratus]

somehow, despite the stimulus & its follow~thru{s} we are to be at 1/2 our debt in 2013?

[tangent4ronpaul]

How is this even remotely possible with trillion dollar bailouts and an outsourced manufacturing infrastructure?

Accounting magic - you just transfer a lot of the bad numbers onto a different ledger and call them something else so you can ignore them. Like the deficit ledger vs the DEBT ledger! We need to deal with the DEBT! - the deficit is pocket change by comparison.

In reality - there should be no deficit. Deficit means we are adding to the DEBT and spending more money than we have. Any business that did that would quickly find themselves filing for bankruptcy. So he's really promising that we will not as as much to the debt every year as we have been, but we are still going to spend beyond our means. Whatever happened to PAYGO???

Not like he hasn't broken most of the promises he made when running for office.

At least his approval numbers have been steadily dropping since he got into office.

-t

[Aratus]

is this all a deep conflict between the "new math" and the old math
textbooks or even a one room schoolhouse grasp of mathematics???

[misterx]

They know it won't happen, but they also know that no one will remember this in four years.

[tangent4ronpaul]

is this all a deep conflict between the "new math" and the old math
textbooks or even a one room schoolhouse grasp of mathematics???

Reminds me of a song...

Some of you who have small children may have perhaps been put in the
embarrassing position of being unable to do your child's arithmetic homework
because of the current revolution in mathematics teaching known as the New
Math. So as a public service here tonight I thought I would offer a brief
lesson in the New Math. Tonight we're going to cover subtraction. This is the
first room I've worked for a while that didn't have a blackboard so we will
have to make due with more primitive visual aids, as they say in the "ed biz."
Consider the following subtraction problem, which I will put up here: 342 -
173.

Now remember how we used to do that. three from two is nine; carry the one, and
if you're under 35 or went to a private school you say seven from three is six,
but if you're over 35 and went to a public school you say eight from four is
six; carry the one so we have 169, but in the new approach, as you know, the
important thing is to understand what you're doing rather than to get the right
answer. Here's how they do it now.

You can't take three from two,
Two is less than three,
So you look at the four in the tens place.
Now that's really four tens,
So you make it three tens,
Regroup, and you change a ten to ten ones,
And you add them to the two and get twelve,
And you take away three, that's nine.
Is that clear?

Now instead of four in the tens place
You've got three,
'Cause you added one,
That is to say, ten, to the two,
But you can't take seven from three,
So you look in the hundreds place.

From the three you then use one
To make ten ones...
(And you know why four plus minus one
Plus ten is fourteen minus one?
'Cause addition is commutative, right.)
And so you have thirteen tens,
And you take away seven,
And that leaves five...

Well, six actually.
But the idea is the important thing.

Now go back to the hundreds place,
And you're left with two.
And you take away one from two,
And that leaves...?

Everybody get one?
Not bad for the first day!

Hooray for new math,
New-hoo-hoo-math,
It won't do you a bit of good to review math.
It's so simple,
So very simple,
That only a child can do it!
Now that actually is not the answer that I had in mind, because the book that I
got this problem out of wants you to do it in base eight. But don't panic. Base
eight is just like base ten really - if you're missing two fingers. Shall we
have a go at it? Hang on.

You can't take three from two,
Two is less than three,
So you look at the four in the eights place.
Now that's really four eights,
So you make it three eights,
Regroup, and you change an eight to eight ones,
And you add them to the two,
and you get one-two base eight,
Which is ten base ten,
And you take away three, that's seven.

Now instead of four in the eights place
You've got three,
'Cause you added one,
That is to say, eight, to the two,
But you can't take seven from three,
So you look at the sixty-fours.

"Sixty-four? How did sixty-four get into it?" I hear you cry.
Well, sixty-four is eight squared, don't you see?
(Well, you ask a silly question, and you get a silly answer.)

From the three you then use one
To make eight ones,
And you add those ones to the three,
And you get one-three base eight,
Or, in other words,
In base ten you have eleven,
And you take away seven,
And seven from eleven is four.
Now go back to the sixty-fours,
And you're left with two,
And you take away one from two,
And that leaves...?

Now, let's not always see the same hands.
One, that's right!
Whoever got one can stay after the show and clean the erasers.

Hooray for new math,
New-hoo-hoo-math,
It won't do you a bit of good to review math.
It's so simple,
So very simple,
That only a child can do it!

Come back tomorrow night. We're gonna do fractions.
Now I've often thought I'd like to write a mathematics text book someday because I have
a title that I know will sell a million copies. I'm gonna call it Tropic Of
Calculus.

-t

[werdd]

Good luck barry./

Off to a great start.

[Chester Copperpot]

somehow, despite the stimulus & its follow~thru{s} we are to be at 1/2 our debt in 2013?

half the deficit not debt.. our debt will probably stand $15 trillion plus at 2013

[The_Orlonater]

Lol! How?

[Aratus]

somehow, despite the stimulus & its follow~thru{s} we are to be at 1/2 our debt in 2013?

normally, wouldn't the debt in four years be TWICE what it is now? am mental number crunching...

[Acala]

I believe this is an attempt to deal with Chinese fears so they will keep loaning us money.

Maybe the Chinese are as gullible as the American people? Just saying "we will cut the deficit" is as good as actually DOING it!

Hahahaha! Somehow I think the Chinese, and our other masters, are going to require a bit more than lip service.

[johnrocks]

I love how politicians grab things from their ass and people believes it, "this plan will create two million jobs" or "the deficit will be half in 2012" or even "the war will be over by 2012"...hellloooo, how do they know these things, they don't, they make promises that will theoretically happen so far in the future that people won't remember or it won't even be on their damn watch!

[Aratus]

there is a tie-in between our deficits and debts. if potus obama could LEGITIMATELY get the
debt to half its amount then, he's an economic miracle worker and if its ONLY the deficit that is
by half precisely for the year 2013, then we still have one whopping set of decifits adding to
our debt until there is the future "economic turnaround"... talking about an intense confidence!!!

[torchbearer]

from 2 trillion to 1 trillion?

[SWATH]

from 2 trillion to 1 trillion?

Watch this:
In 2013 the deficit will be 8 trillion, to cut it in half would make it 4 trillion, Therefore when Obama says he wants to cut the deficit by half he is actually saying he wants to double what it is now.:D

http://www.loc.gov/exhibits/oliphant/vc007273.jpg

[torchbearer]

Watch this:
In 2013 the deficit will be 8 trillion, to cut it in half would make it 4 trillion, Therefore when Obama says he wants to cut the deficit by half he is actually saying he wants to double what it is now.:D

Yeah, I know... but the media is crafting these headlines so people won't dislike him.
Obama plans to double our deficit isn't a pleasant headline.

[smithtg]

Lol! How?


i heard this shit on the radio this morning. what a freaking joke! Dems cut spending??? LMAO

[akihabro]

"Read my lips, no new taxes."

"I did not sleep with that woman, Monica Lewinsky."

"Saddam Hussein has weapons of mass destruction."

Haha. Nice quotes.
I know how Obama will cut the deficit. He will borrow more money from China to pay the interest payments to the Fed and China. Its like when you pay your mortgage with your credit card! Remember Obama is focusing on today not tomorrow. He can't fix it all in 4 years so he's not going to try.

Obama might be speaking some sort of political doublespeak or using reverse psychology. He really means he will increase the deficit by half by 2013. We are about 9 trillion in the hole. Stimulus bill is estimated to totally cost 1.3 trillion. He has to spend 3.2 trillion or so more, easy!