Obama's Economic Train Wreck


by: Les Carpenter
Rational Nation USA
Birthplace of Independent Conservatism
Liberty -vs- Tyranny

As our President keeps on a smiling...

The Examiner reports.
A new report from the Congressional Budget Office (CBO) finds that President Obama’s economic stimulus program helped nearly double U.S. debt.

The 2011 Long-Term Budget Outlook, released Wednesday morning, reports that the “the combination of automatic budgetary responses” and Obama’s stimulus “had a profound impact on the federal budget.” According to CBO projections, before Obama’s stimulus became law, federal debt equaled 36 percent of GDP and was projected to decline slightly over the next few years. Instead, thanks in large part to the stimulus, debt reached 62 percent of GDP by 2010.

Other lowlights from the report include:
  • Debt will reach 70 percent of GDP by the end of this year – the highest percentage since World War II.
  • Spending on Medicare, Medicaid, and Social Security will reach 15 percent of GDP by 2035 – spending on all government programs has averaged 18.5 percent over the past 40 years.
  • Total government spending is set to hit 27 percent of GDP by 2035.
  • Taxes are set to grow from 19 percent of GDP in 2013, to 23 percent by 2035.
  • Americans “at various points on the income scale would pay a larger percentage of their income in taxes than people at the same points do today.”
  • The effective marginal tax rate on labor income would rise from about 25 percent now to about 35 percent in 2035.

Irrespective of what the progressives tell you Obama's economic policies have been a train wreck. In less than three years he has managed to almost double the national debt. Employment remains at staggering levels. And the anemic economic growth continues.

How's that "Hope and Change" working for ya'll?

Via: The Examiner

Comments

  1. Jersey McJonesThu Jun 23, 05:56:00 PM EDT

    http://investmentwatchblog.com/national-debt-increased-by-75-under-bush-and-25-under-obama/

    Anonymous is right. Above are the real numbers, not the massge BS you posted above.


    JMJ

    ReplyDelete
  2. Les CarpenterThu Jun 23, 06:30:00 PM EDT

    JMJ - Numbers can be massaged. And the very best massager's of numbers are the progressive collectivist left.

    Believe what you will dude. Hope you can swim, or have very long and prominent nose.

    ReplyDelete
  3. dmarksFri Jun 24, 01:02:00 PM EDT

    In real numbers, Obama is increasing the debt at a much faster rate then Bush.

    JMJ, the numbers you present are flat-out misleading, as they are attempting to lie about doing arbitrary divisions against unrelated numbers.

    ReplyDelete

Post a Comment

RN USA is a No Judgement Zone (to steal from Planet Fitness), so please, No Judgement of others. We reserve the right to delete any such comment immediately upon detection.

All views are welcome. As long as the comment is on topic and respectful of others.


Top Posts

The Ignorance and Arrogance of Obama...

Image
by: Les Carpenter Rational Nation USA Liberty -vs- Tyranny In my opinion the President, in his attack on the United States Supreme court belies both his basic ignorance of our republic as well as his arrogance. His last uttering in and of itself is enough to deny the man, and I use the term loosely in this case, another term as President. Forgive me my rational liberal friends but his recent statement is more telling of his statist leanings than anything he has heretofore said. With this last he has proven beyond any doubt he is indeed clueless. The Washington Post - There was something rather unsettling in President Obama’s preemptive strike on the Supreme Court at Monday’s news conference. “I’d just remind conservative commentators that for years what we’ve heard is the biggest problem on the bench is judicial activism or a lack of judicial restraint — that an unelected group of people would somehow overturn a duly constituted and passed law,” Obama said. “Well, here’s a
Read more

Spoken Like a True Dyed In the Blue Statist...

Image
by: Les Carpenter Rational Nation U S A Purveyor of Truth Ever hear of or read Mother Jones ? Well I just did, and as near as I can figure she must be Woodrow Wilson's or Franklin Delano Roosevelt's Mother. I say this because she sure as hell is pro statist and pumped up for growing the government bureaucracy. The article is short so it is being reproduced here in full. This site appreciates Mother Jones candor in expressing the statist credo and the desire on the part of the left for an ever larger and more intrusive presence in our daily affairs and lives. January's job numbers were fairly dismal, but the bad cheer wasn't equally spread. Private sector employment, as usual, increased—by 142,000 jobs last month. At the same time, public sector employment declined. Government employment at all levels was down 29,000 in January. Aside from the brief census blip in early 2010, this has been the usual state of affairs for the past four years, ever since the rece
Read more

The "Scandal" That Won't Go Away...

by: Les Carpenter Rational Nation USA Lib erty -vs- Tyr anny CBS - Obama administration officials who were in key positions on Sept. 11, 2012, acknowledge that a range of mistakes were made the night of the attacks on the U.S. missions in Benghazi, and in messaging to Congress and the public in the aftermath. The officials spoke to CBS News in a series of interviews and communications under the condition of anonymity so that they could be more frank in their assessments. They do not all agree on the list of mistakes and it's important to note that they universally claim that any errors or missteps did not cost lives and reflect "incompetence rather than malice or cover up." Nonetheless, in the eight months since the attacks, this is the most sweeping and detailed discussion by key players of what might have been done differently. "We're portrayed by Republicans as either being lying or idiots," said one Obama administration official who was part
Read more

Looking To 2016...

by: Les Carpenter Rational Nation U S A Purveyor of Truth Following last nights rather mundane and short on specifics SOTU by President Obama I started thinking about the future and if there is anyone in the current ranks of the GOP or the Libertarian Party who could possibly be elected to the presidency in 2016. Frankly given the crop of malcontents and loonies(Christie doesn't fall into that group but he has shot himself in the big toe) that seem to be getting attention in the GOP it appears unlikely. Tonight while browsing the net the following article popped up and given the headline was along my line of thinking last it was a must read. Got me thinking again and if the GOP can find the intelligence to act along the lines of thought presented in the article there may just be a real race in 2016 rather than a shoo in for the democrats. NationalJournal - For a party that's accustomed to nominating the next-in-line presidential candidate, 2016 promises to be a very un
Read more

It's Going To Be Close, Brace Yourself For Continued Polarization of America, Especially if Obama Loses...

by: Les Carpenter Rational Nation USA Liberty -vs- Tyranny The race is close, very close, with the momentum shifting to Romney. However, my take is the shift, as significant as it has been, came too late and too little. Progressives no doubt are biting their nails because as much as they prefer not to acknowledge it, this one is a real cliff hanger. Reminiscent of 2000. It is true if Obama loses this one progressives throughout the land will be wailing and gnashing their teeth. For them it will be a great undoing of their greatest hopes and dreams. Of course the other fifty percent of America will view it quite differently. So, as the polls close tomorrow, and the tabulating of the vote goes late into the night, we can be sure of a few thing... The nation will remain polarized, the puppet masters behind the curtains will continue calling the shots, the debt and deficits will continue, no mater who wins. And America will continue to ask why. Tomorrow, as I visit my polli
Read more

2015 Could Be a Bad Year for Liberals...

Image
Rational Nation USA Purveyor of Truth 2015 is going to be a very busy year for the Supreme Court of the United States and one that will result in defining moments on several fronts or issues. In just the first six months the SCOTUS will hear issues major that have divided political and social spectrum for some time. Topping the list are: 1) Obama care 2) Same-sex marriage equality 3) Religious freedom 4) Freedom of speech For details on the above short list and more GO HERE . Via: Memeorandum
Read more

Small Businesses Can Improve the Health of a Community...

Image
"Buddhanature is the innate primordial freedom of the mind, which is naturally imbued with wisdom, compassion, power, and bliss."         Karl Brunnholzl  Today w e feature a guest article by Eva Benoit . She is a life coach who specializes in helping others who experience the suffering of anxiety. More about Eva in her own words: I began my career as an office manager, which actually started my journey to becoming a life coach.  I was constantly bombarded with employees telling me about their work stress, which naturally turned into a conversation about  everything  — work-related or not — that took a toll on their mental well-being. I found that my most satisfying workdays were those that allowed me to help someone take control over their stress, whether it was something I was able to do in my role as the office manager or just as a compassionate listening ear. It wasn’t long before I scheduled monthly lunch meetings where the entire office practiced stress-fighting techniq
Read more

Is Our Democratic Republic At Risk From Forces Both Foreign and Within?...

Image
We are moving this running post up to front page this evening where it will remain until January 3'rd 2017 when we will return to single posts, hopefully on a daily basis. There is much to do in getting the TRUTH out about Donald J Trump, a dishonest, totally self absorbed, and dangerous individual. He may be the president on January 20th but that does not mean thoughtful and concerned people shouldn't challenge Trump at every turn and fight his agenda whenever it runs contrary to their interests and those of their family. More to come. BTW, be sure to read today's entry, 12/28/16, below. this is just one example AND, it is just the beginning. You've probably noticed the brief posts of late. Posts with very short commentary by the weblolg administrator followed by an article that goes into the subject in much greater detail. This has been done purposefully following the rancorous 2016 election, and because its Christmas Time, soon to be a New Year.  This posting f
Read more

April Job Numbers Appear Improved... Are They Really?

Image
by: Les Carpenter Rational Nation USA Lib erty -vs- Tyra nny The April job reports are out. The good news is unemployment fell to a four year low, certainly at year six in Obama's Presidential tenure strikes a positive note. Or does it? At the same time the number of people employed part time rose as well as strong indications are showing the Affordable Care Act (ACA aka ObamaCare) will have a long term negative impact on the USA economy. The following is an interesting analysis and one that certainly has some credibility. AEI - US job growth in April beat economist expectations as nonfarm payrolls rose 165,000, and the jobless rate fell to a four-year low of 7.5%. But the report contained worrisome signs that President Obama’s health care reform law is hurting full-time, high-wage employment. While the American economy added 293,000 jobs last month, according to the separate household survey, the number of persons employed part time for economic reasons — “involuntar
Read more