Accomplishments of President Obama

Originally Posted by TheMercenary

According to the very chart I linked to that made up a minor part of the deficit.

Maximum Amount: $66.13 billion
Deficit Impact: $17.76 billion

What part of the fact that tax cuts are the biggest single component of ARRA dont you understand?

http://stimulus.org/financialrespons...investment-act doesnt even include FY 10

[TheMercenary]

CBO estimated that the total cost of the bill would total $862 billion. Not deficit neutral.

[TheMercenary]

The federal budget deficit hit an all-time high for the month of December, and deficit spending for the first three months of the new budget year is also surpassing last year’s record pace.


The $91.85 billion budget deficit in December, a record for the month, marked a record 15 straight months of government red ink, the Treasury Department said Wednesday.


The monthly budget gap, up from a $51.75 billion deficit in December 2008, pushed the budget shortfall for the first quarter of fiscal 2010 to $388.51 billion. That compares to a $332.49 billion deficit for the same period a year ago.


The December deficit was in line with Wall Street and Congressional Budget Office estimates for a $92 billion gap.


Last year’s annual deficit surged to $1.42 trillion, more than three times the record of the previous year — an imbalance of $454.8 billion set in 2008.


The Obama administration is projecting that this year’s deficit will climb even higher, to $1.5 trillion, which would be 5.6 percent higher than the 2009 deficit. That figure will be revised when the president sends his new budget to Congress in early February.


President Barack Obama’s deficit-cutting plans are expected to be featured prominently in the budget he will submit to Congress in early February for the 2011 budget year that begins Oct. 1.


Through the first three months of the budget year, government revenues totaled $487.78 billion, a drop of 10.9 percent from the same period a year ago.


Outlays through December totaled $878.28 billion, a decline of 0.4 percent from the same period a year ago. That drop reflected smaller outlays for the government’s $700 billion rescue program compared with the same period a year ago, when the program was just getting started.

Read more: http://www.politico.com/news/stories...#ixzz0fwjV71ft

[classicman]

Damn -
I thought I did this months ago....

HE GOT BIN LADEN!

[TheMercenary]

He got Bin Laden!

[infinite monkey]

.

[TheMercenary]

Not even close.

[TheMercenary]

Rut Row!

President Obama’s phony accounting on the auto industry bailout

http://www.washingtonpost.com/blogs/...efKH_blog.html

[TheMercenary]

Obama's "Millions of Shovel Ready Jobs" maybe not so shovel ready after all. Yuk, yuk, yuk. Really funny Mr. President, really funny. Not.

video:
http://nation.foxnews.com/president-...dy-we-expected

[TheMercenary]

Given how economists still vigorously debate the economic effects of the New Deal, it’s not surprising that they would differ over the 2009 stimulus as well. So remember the old joke. You might ask for a definitive answer about the stimulus. The best you’ll get back is conflicting opinions.

http://reason.com/archives/2011/06/2...ts-of-stimulus

[TheMercenary]

More evidence of waste of taxpayer money in the supposed Stimulus boondoggle....

The ARRA stimulus funds for broadband constitute “the largest Federal subsidies ever provided for broadband construction in the U.S.” An explicit goal of the program was to extend broadband access to homes currently without it.

Eisenach and Caves looked at three areas that received stimulus funds, in the form of loans and direct grants, to expand broadband access in Southwestern Montana, Northwestern Kansas, and Northeastern Minnesota. The median household income in these areas is between $40,100 and $50,900. The median home prices are between $94,400 and $189,000.

So how much did it cost per unserved household to get them broadband access? A whopping $349,234, or many multiples of household income, and significantly more than the cost of a home itself.

Sadly, it’s actually worse than that. Take the Montana project. The area is not in any meaningful sense unserved or even underserved. As many as seven broadband providers, including wireless, operate in the area. Only 1.5% of all households in the region had no wireline access. And if you include 3G wireless, there were only seven households in the Montana region that could be considered without access. So the cost of extending access in the Montana case comes to about $7 million for each additional household served.

http://reason.com/blog/2011/07/06/th...f-a-stimulus-s

[Fair&Balanced]

LOL.

The same silly simplistic math as the charge that every job created by ARRA funding cost the taxpayers $200,000+.

[TheMercenary]

I guess you get what you pay for, "Millions of Shovel Ready Jobs!"

[infinite monkey]

I bet there are shovel jobs cleaning up the bullshit in this thread.

Start scoopin'!

[Fair&Balanced]

Originally Posted by TheMercenary

I guess you get what you pay for, "Millions of Shovel Ready Jobs!"

I understand that no Democratic program would be successful under your standards.

IMO, a program that contributing to creating 2.5 million jobs in the last two years is a good thing given how the economy was in free fall.

Not to mention the other components of the stimulus -- the $millions in tax cuts to small businesses to help keep them afloat and the $milions in extended unemployment insurance and COBRA coverage for those who lost their job in recession.

BTW, Rick Santorum claimed the stimulus was a failure because it only created 240 million jobs!