Posted by
heresyarch's Contra Mundum on Friday, August 10, 2012 11:47:24 AM
The last two regimes (Bush and Obama) have been absolutely obnoxious.
Not including Unfunded Liabilities
Apples to apples....last 3 years of either administration:
Bush Deficit 2007: 161 Billion
Bush Deficit 2008 459 Billion
Bush Deficit 2009: 1.413 Trillion
Obama Deficit: 2010: 1.293 Trillion
Obama Deficit 2011: 1.3 Trillion
Obama Deficit: 2012: 1.3 Trill (est)
Grand Total Deficit under Bush last 3 years: 2 Trillion
Grand Total Deficit under Obama last 3 years: 3.893 Trillion
Can we pay for this?.....is an absurd question. As
Mish points out:
"To meet total spending requirements of $3.2 trillion, but not counting
$117 trillion in unfunded liabilities, not only would we have to do
everything in the five point list above, but we would have to take the
combined salaries of all players in the NFL, Major League Baseball, the
NBA, and the NHL, cut military spending by $254 billion, and tax
everything people make above $250,000 at a 100% tax rate.
That's what it would take to meet the 2012 budget of $3.8 trillion. It
would do nothing to pay down the existing national debt of close to $16
trillion. It would not come remotely close to meeting $117 trillion in
unfunded liabilities."