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mrgybe
Joined: 01 Jul 2008
Posts: 5180
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 Posted: Sun May 24, 2015 5:14 pm Post subject: |
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| Double entry accounting must be backwards in California. Perhaps that's how Moonbeam "balances" the budget! |
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mac
Joined: 07 Mar 1999
Posts: 17747
Location: Berkeley, California
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| Posted: Sun May 24, 2015 8:54 pm Post subject: |
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You guys don't even to pretend to think. Just throw money at it is the Republican way:
| Quote: | WASHINGTON — House Republicans beat back protests from fiscal hawks and narrowly passed a budget that increases war spending but slashes domestic programs and begins to privatize Medicare with a goal of balancing the federal books in nine years.
In an unusual move, House leaders put two Republican budgets to a vote, one that included $94 billion in off-budget war spending, $20 billion of which was supposed to be offset by cuts elsewhere, the other with $96 billion in war spending and no corresponding cuts.
With the competition over, the winning budget was ratified with one last vote, 228-199. Seventeen Republicans opposed it. No Democrats supported it. |
Or we could look at the last two Ryan budget proposals, which cut taxes for the rich, cut social programs--and luxuries like a safe AMTRAK--and increased military spending. Biggest item in the budget. Much of it goes to firms in Virginia.
That's double entry accounting. |
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beaglebuddy
Joined: 10 Feb 2012
Posts: 1120
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| Posted: Sun May 24, 2015 11:50 pm Post subject: |
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| And the debt has what? tripled under obongo? can't keep track anymore, too depressing. |
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mac
Joined: 07 Mar 1999
Posts: 17747
Location: Berkeley, California
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| Posted: Mon May 25, 2015 12:39 am Post subject: . |
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| Uninformed racist. |
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mac
Joined: 07 Mar 1999
Posts: 17747
Location: Berkeley, California
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| Posted: Mon May 25, 2015 10:42 am Post subject: |
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Countering the ignorant part of the sad puppy's claim. It took exactly one click:
http://useconomy.about.com/od/usdebtanddeficit/p/US-Debt-by-President.htm
| Quote: | What's the best way to determine how much of the $18 trillion U.S. debt is attributable to each President? The most popular way is to look at the debt level when each President took office. Sometimes it's easier to look at a graph showing the percent of the debt accumulated under each President. It's also important to compare the debt as a percent of economic output.
However, these aren't the most accurate ways to measure the debt contributed by each President.
Why? The President doesn't really have much control over the debt added during his first year in office. That's because the budget for that fiscal year was already set by the previous President.
For example, President Bush took office in January 2001. He submitted his first budget in February. This was for FY 2002 which began on October 1. Until then, he had to live with President Clinton's last budget (FY 2001), which lasted until September 30. Although confusing, the Federal fiscal year is intentionally set up that way to give the new President time to put together his budget during his first month in office. For more, see Federal Budget Process.
This means each new President pretty much has to live with that budget's tax rates and spending levels for the first nine months of his inaugural calendar year in office. That's why you really can't hold him accountable for the budget deficit incurred by the previous President.
The Best Way to Measure Debt by President
One way to measure the debt by President is to sum all the budget deficits.
That's because the President is responsible for his budget priorities. Each year's deficit takes into account budgeted spending and anticipated revenue from proposed tax cuts or hikes. For details, see Deficit by President.
However, there's a difference between the deficit and the debt by President. That's because every President can employ a sleight of hand to make his deficit appear smaller. They can borrow internally from other government sources. For example, the Social Security Trust Fund has run a surplus since 1987. That's because there were more working people contributing via payroll taxes than retired people withdrawing benefits. The Fund invests its surplus in U.S. Treasury notes. The President can reduce his deficit by spending these funds, instead of issuing new ones.
Barack Obama - The debt grew the most dollar-wise during President Obama's term. He added $6.167 trillion, a 53% increase, in six years. Obama's budgets included the economic stimulus package, which added $787 billion by cutting taxes, extending unemployment benefits, and funding job-creating public works projects. The Obama tax cuts added $858 billion to the debt over two years. Obama's budget included increased defense spending to around $800 billion a year. Federal income was down, thanks to lower tax receipts from the 2008 financial crisis. He also sponsored the Patient Protection and Affordable Care Act, which was designed to reduce the debt by $143 billion over 10 years. However, these savings didn't show up until the later years. For more, see National Debt Under Obama.
George W. Bush - President Bush added the second greatest amount to the debt, at $5.849 trillion. This more than doubled the debt, which was $5.8 trillion on September 30, 2001 -- the end of FY 2001, which was President Clinton's last budget. Bush responded to the 9/11 attacks by launching the War on Terror. This drove military spending to record levels, $600-$800 billion a year. This included the Iraq War, which cost $807.5 billion. President Bush also responded to the 2001 recession by passing EGTRRA and JGTRRA, otherwise known as the Bush tax cuts, which reduced revenue. He approved a $700 billion bailout package for banks to combat the 2008 global financial crisis. Both Presidents Bush and Obama had to contend with higher mandatory spending for Social Security and Medicare. For more, see President Obama Compared to President Bush Policies. |
To be sure, beagle boy paid not attention to civics class, or he would know that no President is solely responsible for spending because they can only spend the money that Congress appropriates.
The above article significantly under accounts for the inflation factor. Ronald Reagan accounted for a "mere" $1.86 trillion in debt--but that was a 186% increase to the $998 billion debt level at the end of Carter's last budget, FY 1981. The GDP when Reagan left office was $8.9 trillion, the current GDP is about $16.3 trillion.
The other thing missing from the quote is the impact of revenue gains and losses--which can be the impact of the current administration, the past administration, or good and bad luck.
For Obama's administration, bad luck, or more accurately bad policy, accounted for the junk bond mortgage bubble that burst. Federal revenues dropped from $5 trillion to $3.6 trillion. That's right haters, between 2008 and 2013, Federal revenues dropped by about the amount of debt accrued under Obama--because of Republican policies favoring reckless deregulation.
Don't confuse bigots with facts. All they have left is hatred. |
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mrgybe
Joined: 01 Jul 2008
Posts: 5180
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| Posted: Mon May 25, 2015 11:05 am Post subject: |
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| The students and residents of Berkeley are well known for their contempt of the military. So, while their representative shrieks about racism, bigotry and hatred on this Memorial Day, I suggest that the rest of us ignore him and spend our time doing what was intended for this day..........remembering those who died for us, and enjoying time with our families. |
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MalibuGuru
Joined: 11 Nov 1993
Posts: 9300
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| Posted: Mon May 25, 2015 11:14 am Post subject: |
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One of my top managers lost her son in Iraq. I made sure that she had the entire 3 days of Memorial weekend to honor her son.
With Ramadi now fallen, she questions whether her son's sacrifice was worth it. I do too. |
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mac
Joined: 07 Mar 1999
Posts: 17747
Location: Berkeley, California
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| Posted: Mon May 25, 2015 12:11 pm Post subject: |
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After his false claims of careful Republican budgeting are refuted, the man from the defense industry state retreats to the last refuge of scoundrels.
"Patriotism is the last refuge of a scoundrel." Samuel Johnson.
Indeed, let us honor American service men by sending them to wars that make sense, backed by adequate administration and politics, and spend money on protecting them rather than enriching arms manufacturers. A case in point, those killed and maimed by IED's, who were sent to Iraq without sufficient armor on their vehicles.
| Quote: | Iraq-Bound Troops Confront Rumsfeld Over Lack of Armor
By ERIC SCHMITT
Published: December 8, 2004
Gustavo Ferrari/Associated Press
Defense Secretary Donald H. Rumsfeld told troops today that "you go to war with the Army you have."
Gustavo Ferrari/Associated Press
Army Spc. Thomas Wilson asked Defense Secretary Donald H. Rumsfeld why vehicle armor is still in short supply, nearly two years after the start of the war.
CAMP BUEHRING, Kuwait, Dec. 8 - In an extraordinary exchange at this remote desert camp, Defense Secretary Donald H. Rumsfeld found himself on the defensive today, fielding pointed questions from Iraq-bound troops who complained that they were being sent into combat with insufficient protection and aging equipment.
Specialist Thomas Wilson, a scout with a Tennessee National Guard unit scheduled to roll into Iraq this week, said soldiers had to scrounge through local landfills here for pieces of rusty scrap metal and bulletproof glass - what they called "hillbilly armor" - to bolt on to their trucks for protection against roadside bombs in Iraq.
"Why don't we have those resources readily available to us?" Specialist Wilson asked Mr. Rumsfeld, drawing cheers and applause from many of the 2,300 troops assembled in a cavernous hangar here to meet the secretary. Mr. Rumsfeld responded that the military was producing extra armor for Humvees and trucks as fast as possible.
A few minutes later, a soldier from the Idaho National Guard's 116th Armor Cavalry Brigade asked Mr. Rumsfeld what he and the Army were doing "to address shortages and antiquated equipment" National Guard soldiers heading to Iraq were struggling with.
Mr. Rumsfeld seemed taken aback by the question and a murmur began spreading through the ranks before he silenced them. "Now settle down, settle down," he said. "Hell, I'm an old man, it's early in the morning and I'm gathering my thoughts here." |
What was money spent on?
| Quote: | The program for developing the F-35 has cost taxpayers $400 billion over 12 years of intense development and engineering. And that's not even half the real price tag: building and maintaining a fleet of 2,443 planes for 30 years (their approximate lifespan) will cost more than $1 trillion. It remains to be seen if the F-35 is worth even a fraction of the development cost.
The Littoral Combat Ship (LCS) program was designed to create a next-generation asset for the Navy as it shifts the bulk of its fleets to the Pacific Ocean. So far LCSs have been plagued by numerous problems, including structure cracks, computer system failures, generator meltdowns, burst pipes, propulsions problems, and potentially disastrous communication errors. And to boot, naval officials are skeptical that they will do well in combat. The Pentagon may cut down the planned fleet size of 55 ships, but if they don't, the LCS program will cost taxpayers more than $30 billion dollars.
The U.S. Navy recently launched its first Ford-class aircraft carrier — the first new carrier designed in over 40 years. Although the carrier's sleeker equipment will require lower maintenance and reportedly save the Navy billions, it cost roughly $15 billion to construct, including $1 billion in overrun. A Government Accountability Office report from September noted that the combination of cost problems, engineering obstacles, and untested technology systems was alarming and should be addressed by Congress. Some experts have also pointed out that in an age of long-range and heavy-yield precision missiles, aircraft carriers are becoming obsolete (but still incredibly expensive) strategic assets.
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I won't bother searching the manufacturers of these boondoggles to see how many are based in Virginia. |
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nw30
Joined: 21 Dec 2008
Posts: 6485
Location: The eye of the universe, Cen. Cal. coast
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| Posted: Mon May 25, 2015 12:12 pm Post subject: |
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| mrgybe wrote: | | The students and residents of Berkeley are well known for their contempt of the military. So, while their representative shrieks about racism, bigotry and hatred on this Memorial Day, I suggest that the rest of us ignore him and spend our time doing what was intended for this day..........remembering those who died for us, and enjoying time with our families. |
Thank you, one of your best posts ever, easily done. |
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mac
Joined: 07 Mar 1999
Posts: 17747
Location: Berkeley, California
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| Posted: Mon May 25, 2015 12:46 pm Post subject: |
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Competence matters:
| Quote: | | 2,550 U.S. service member deaths caused by ied in Operation Iraqi Freedom and Operation Enduring Freedom |
http://apps.washingtonpost.com/national/fallen/causes-of-death/ied/
You can see their faces, and then contemplate what might have happened if Bush and Rumsfeld had been competent.
But let's be silent--not in memory, but because we pretend we make no mistakes so we don't have to learn from them. And, of course, we make up budget numbers. |
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