via Gay Patriot Obama, October 15, 2008 : [rquoter]But there is no doubt that we’ve been living beyond our means and we’re going to have to make some adjustments. Now, what I’ve done throughout this campaign is to propose a net spending cut.[/rquoter] Bloomberg,May 19, 2009: [rquoter]Extrapolating out the 2007 CBO forecast, our government plans to spend about $5.6 trillion more between 2009 and 2018 than was projected to be spent when the Democrats took over control of Congress. To put that number in perspective, at the start of the 2007 budget year, Democrats inherited $4.8 trillion in outstanding government debt. That means that all of the deficits that have been run through all of history, funds that were used to finance the Vietnam War and the Iraq War and everything else in between, would be smaller than the spending increases of Democrats over the next 10 years if they are permitted to stay in power and keep up this pace.[/rquoter] another broken promise...
One of the stupidest posts in a long time. Do you believe that Obama shouldn't react the massive economic collapse? Also it isn't technically a promise.
Yes, you trying to twist an appropriate plan for the time into a promise is definitely classic tactics.
dude, he made the promise in October 2008. the dimensions of the crisis were pretty well apparent by that time.
Obama, October 15, 2008 Lehman Brothers filed for Chapter 11 bankruptcy protection on September 15, 2008. ...I have to agree with Basso on this one. Though, as a sidebar, I'd like to point out that McCain has kept NONE of his promises.
There is no doubt in my mind that we will see the mother of all inflation before Obama leaves office. This is the most reckless spending behavior in the history of the United States.
I don't necessarily like the bailouts, but I understand it was done to counter the systemic risk to our economy, to avoid catastrophe. And I don't think the rest of his spending is all bad, but he is trying to do too much all at once, jacking up the deficit by an insane amount.
The "Stimulus" is what is the big travesty. And Fiscal spending is SLOW anyway. It hasn't even touched the economy yet. If they had bailed the banks out and not passed that behemoth, Obama's budget would be a lot easier to swallow.
Not hardly, especially with Bush's boneheaded structure and lack of regulation on that bailout. The effects of that one had not been felt yet. Again, he didn't make any promise. Nice try though.
You can't really compare the bank situation to everything else. If you allow the biggest financial system in the world to collapse, hell will break loose. You can criticize who or what allowed the banks to get in those positions, but the bailouts were basically inevitable. I just don't see this as the best time to push his agenda. It almost feels like he is using the current economic times to get it all in there at once. It doesn't surprise me, as every President has their own agenda and will use anything in their advantage to achieve it. But that still doesn't change the fact that all his spending and economic policies will lead to massive inflation and more problems down the road.
It wasn't just technically not a promise. It actually was not a promise. In fact, Obama specifically said that. And he said it in the very next sentence of his answer. Of course, basso chose not to quote that part because it would ruin his point. Obama's actual answer: But there is no doubt that we’ve been living beyond our means and we’re going to have to make some adjustments. Now, what I’ve done throughout this campaign is to propose a net spending cut. I haven’t made a promise about… Schieffer: But you’re going to have to cut some of these programs, certainly. Obama: Absolutely. So let me get to that. What I want to emphasize, though, is that I have been a strong proponent of pay-as- you-go. Every dollar that I’ve proposed, I’ve proposed an additional cut so that it matches. And some of the cuts, just to give you an example, we spend $15 billion a year on subsidies to insurance companies. It doesn’t — under the Medicare plan — it doesn’t help seniors get any better. It’s not improving our health care system. It’s just a giveaway. We need to eliminate a whole host of programs that don’t work. And I want to go through the federal budget line by line, page by page, programs that don’t work, we should cut. Programs that we need, we should make them work better. Now, what is true is that Sen. McCain and I have a difference in terms of the need to invest in America and the American people. I mentioned health care earlier. If we make investments now so that people have coverage, that we are preventing diseases, that will save on Medicare and Medicaid in the future. If we invest in a serious energy policy, that will save in the amount of money we’re borrowing from China to send to Saudi Arabia. If we invest now in our young people and their ability to go to college, that will allow them to drive this economy into the 21st century. But what is absolutely true is that, once we get through this economic crisis and some of the specific proposals to get us out of this slump, that we’re not going to be able to go back to our profligate ways. And we’re going to have to embrace a culture and an ethic of responsibility, all of us, corporations, the federal government, and individuals out there who may be living beyond their means.
Good find. The thing is that it might be interesting to discuss whether or not Obama's spending is good or bad. But because basso tries these dishonest little tricks it becomes more about his dishonesty, than it does the actual substance.
