CBO projects 2010 deficit at $1.3 trillion

[Golfboy]

Hey, they've revised it down $80,000,000,000!!! (http://www.reuters.com/article/idUSTRE60P3SY20100126?type=politicsNews)

CBO projects deficits to fall somewhat over the coming decade, coming in at $687 billion in fiscal year 2020, the source said.

The CBO is scheduled to release its estimates at 1000 EST (1500 GMT).

President Barack Obama is expected to propose a freeze on many domestic spending programs to tame the record deficit in his State of the Union speech on Wednesday, though analysts say more will be needed to reduce deficits to a sustainable level.

Obama is also expected to set up a commission to examine ways to bring down the deficit if a similar proposal fails as expected in a Senate vote later on Tuesday.

Interesting that the whole piece is talking up the President's sudden conversion to controlling spending... unfortunately, they didn't address the fact that he's still holding all those TARP monies in his back pocket for additional spending come election time.

[deadamadillo]

Hey, they've revised it down $80,000,000,000!!! (http://www.reuters.com/article/idUSTRE60P3SY20100126?type=politicsNews)

CBO projects deficits to fall somewhat over the coming decade, coming in at $687 billion in fiscal year 2020, the source said.

The CBO is scheduled to release its estimates at 1000 EST (1500 GMT).

President Barack Obama is expected to propose a freeze on many domestic spending programs to tame the record deficit in his State of the Union speech on Wednesday, though analysts say more will be needed to reduce deficits to a sustainable level.

Obama is also expected to set up a commission to examine ways to bring down the deficit if a similar proposal fails as expected in a Senate vote later on Tuesday.

Interesting that the whole piece is talking up the President's sudden conversion to controlling spending... unfortunately, they didn't address the fact that he's still holding all those TARP monies in his back pocket for additional spending come election time.

It's more interesting that the same people who rail about spending still have their ODS working when he proposes cutting spending.

[Golfboy]

It's more interesting that the same people who rail about spending still have their ODS working when he proposes cutting spending.

It appears the left are the ones with the ODS when it comes to cutting spending - including you (http://www.democracyforums.com/showpost.php?p=627386&postcount=12) BTW. I just don't believe that he's going to do it, based on his history... is that ODS?

[deadamadillo]

It appears the left are the ones with the ODS when it comes to cutting spending - including you (http://www.democracyforums.com/showpost.php?p=627386&postcount=12) BTW. I just don't believe that he's going to do it, based on his history... is that ODS?

No, the knee jerk negative reaction is ODS. Sticking to it despite getting spending concessions from him is ODS. Complaining about spending and then complaining about not spending is ODS.

And please explain how I showed ODS by saying I thought he'd do the freeze he's proposing? I'm deranged to say that something being used as the focus of the State of the Union will be attempted? You really want to stick with that?

[Golfboy]

No, the knee jerk negative reaction is ODS. Sticking to it despite getting spending concessions from him is ODS. Complaining about spending and then complaining about not spending is ODS.

And please explain how I showed ODS by saying I thought he'd do the freeze he's proposing? I'm deranged to say that something being used as the focus of the State of the Union will be attempted? You really want to stick with that?

If I'm expressing ODS by expressing skepticism of Obama's sudden conversion to fiscal sanity, aren't you are also expressing your ODS when you disagree with his statement - even if for opposite reasons?

[Bok_Tukalo]

We will see how Republicans respond. If it is like what I am seeing here, it will be more evidence they are full of shit and only want to oppose the current Executive; there is no desire, inclination, or possibly even ability on their part to solve very serious problems facing this nation.

[Golfboy]

We will see how Republicans respond. If it is like what I am seeing here, it will be more evidence they are full of shit and only want to oppose the current Executive; there is no desire, inclination, or possibly even ability on their part to solve very serious problems facing this nation.

How are you going to judge their response? If they argue that it's too little, too late, are you going to ridicule them?
I've just posted in another thread (http://www.democracyforums.com/showpost.php?p=627560&postcount=31) an analysis regarding this proposal showing that it will save about $15 Billion dollars - a 0.015% savings. WOW, now that's some pretty serious stuff, isn't it?
You waste a TRILLION dollars, and then propose freezing spending to save 15 Billion?

My guess, from watching your defense of all things Obama lately, that unless Republican buy in 100% to Obama's new position, that you'll ridicule them as being "full of shit".
Obama is the one "full of shit" on this issue - anyone that thinks this is a serious proposal to reign in spending is engaging in either spin for the Administration, or they are ignoring the facts intentionally.

[Corodon]

How much is Obama's proposed budget freeze projected to save?

[Bok_Tukalo]

How are you going to judge their response? If they argue that it's too little, too late, are you going to ridicule them?

Maybe. Not sure. More than likely it will just confirm they are full of shit.

My guess, from watching your defense of all things Obama lately.

Yes, of course. I don't spit in his face so I defend all things Obama. I get the narrative, golfboy. No need to continue repeating it.

[Golfboy]

How much is Obama's proposed budget freeze projected to save?

15 Billion - about .015% (http://www.democracyforums.com/showpost.php?p=627560&postcount=31) of the money he wasted on the Stimulus and TARP last year.

[Golfboy]

Maybe. Not sure. More than likely it will just confirm they are full of shit.



Yes, of course. I don't spit in his face so I defend all things Obama. I get the narrative, golfboy. No need to continue repeating it.

If you're going to continue to repeat this mantra that Republicans are "full of shit" for calling Obama on his stupidity, why should I not continue to point out your hypocrisy?

[Bok_Tukalo]

If you're going to continue to repeat this mantra that Republicans are "full of shit" for calling Obama on his stupidity, why should I not continue to point out your hypocrisy?

"Cut spending!"

"Here's a start. Feel free to add."

"Fuck you!"

[bishop]

amusing how obama apologists are trying to turn this into a republican issue. amusing, but certainly not surprising. far be it from them to evaluate their own man on his own merits.

this proposal isn't exactly winning obama any support from liberal groups, or famous ones like krugman and reich. it also won't take effect until 2011. obama's academic base is one that believes in deficit-spending as far as the eye can see - so long as this spending is keynesian-styled "stimulus".

what this new revelation shows me is continued incoherence on the part of the administration. they clearly don't have a clue on how to deal with the economy - perhaps they also lack fundamental understanding of economics in general.. that man sure can dance!

[Grizz]

Here's the reason (http://www.nytimes.com/2010/01/27/us/politics/27budget.html?hp) government spending will stay up for a while:


The budget office’s report provides Congress with the data to kick off a new budget-writing season. It comes as lawmakers and President Obama (http://topics.nytimes.com/top/reference/timestopics/people/o/barack_obama/index.html?inline=nyt-per) are under conflicting pressures from voters and markets. On the one hand are calls to reduce the deficit for the long term; on the other are calls to ensure that in the short term, the government does not contract so much that it knocks the still-fragile economy into a double-dip recession (http://topics.nytimes.com/top/reference/timestopics/subjects/r/recession_and_depression/index.html?inline=nyt-classifier).


Double dips are great for ice cream cones, but lousy for economies, especially when the extra dip is a slide back into Recessionville.

[Golfboy]

"Cut spending!"

"Here's a start. Feel free to add."

"Fuck you!"

Wow, nice interpretation, but that's not what's happening and you know it.
Obama is attempting to appear as though he's moving to the center to regain the independant vote. That's ALL this is about.... he's never believed in cutting spending.

I am enjoying watching you defend conservative principals though. :thumbsup:

[Bok_Tukalo]

I am enjoying watching you defend conservative principals though. :thumbsup:

You should pay attention. You will enjoy a great deal more.

[william the wierd]

amusing how obama apologists are trying to turn this into a republican issue. amusing, but certainly not surprising. far be it from them to evaluate their own man on his own merits.

this proposal isn't exactly winning obama any support from liberal groups, or famous ones like krugman and reich. it also won't take effect until 2011. obama's academic base is one that believes in deficit-spending as far as the eye can see - so long as this spending is keynesian-styled "stimulus".

what this new revelation shows me is continued incoherence on the part of the administration. they clearly don't have a clue on how to deal with the economy - perhaps they also lack fundamental understanding of economics in general.. that man sure can dance!
The Reps are slowly moving up in generic polls despite being distrusted by a majority of voters. I even have a thread on the subject that's been up two days with zero response. How the Dems have screwed themselves to the wall so badly and so quickly is a bit of a mystery.