tag:blogger.com,1999:blog-7269993620761104727.post7896997793373489961..comments2023-11-03T03:30:46.909-04:00Comments on The ConservativeXpress: Obama's Weekly Address: Translated To Expose The LiesConservativeXpresshttp://www.blogger.com/profile/14639174320471804514noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-7269993620761104727.post-31789986215590546942009-02-28T22:07:00.000-05:002009-02-28T22:07:00.000-05:00I wasn't good at fuzzy math either...We'll find ou...I wasn't good at fuzzy math either...<BR/><BR/>We'll find out in 2012 if it still Obama's Recession or Obama's recovery.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7269993620761104727.post-18744228082512690122009-02-28T21:07:00.000-05:002009-02-28T21:07:00.000-05:00The Baseline Obama uses is fuzzy math. The actual ...The Baseline Obama uses is fuzzy math. The actual "inherited" deficit is somewhere between $500 billion and the $1.2 trillion.<BR/><BR/>Eithery way, it's time to stop blaming Bush. It's unprofessional and unnecessary.<BR/><BR/>Like it or not, this is Obama's Recession now. He is in charge. He is on the clock.<BR/><BR/>And as far as complaing about the deficit, Obama will leave his successor with an incomprehensible debt. His numbers just do not add up.ConservativeXpresshttps://www.blogger.com/profile/14639174320471804514noreply@blogger.comtag:blogger.com,1999:blog-7269993620761104727.post-60792409713526019982009-02-28T20:27:00.000-05:002009-02-28T20:27:00.000-05:00You are entitled to your opinions, but if you want...You are entitled to your opinions, but if you want to challenge facts you should be on correct ground.<BR/>You state - YOU DID NOT INHERIT A TRILLION DOLLAR DEFICIT!<BR/>Fact: Please refer to Table s-5 on the president's budget document which states that the BEA Baseline deficit for FYE 2009 (which is for the year ending 9/30/09) is $1.2 trillion. The final version in the President's budget showed a deficit for FY 2009 of appx. $1.7 Tr. The approximate $500 billion difference is due to (a) appx. $215 million for the ARRA in FY 2009 (the larger part, about $360Bn, will be incurred in FY 2010) and (b) a $250 Bn placeholder for additional financial market support (bailouts of wall street) over the $350 bn already approved.<BR/>Now certainly ARRA is on Obama's watch (though lets be clear that President McCain would have probably done something substantially similar - maybe $100bn less and maybe 60/40 tax/spend instead of 40/60 tax cut spend). On the financial markets as imperfect the Paulson efforts were, I do believe that Tarp I did stave off a complete disaster (Warren Buffet in his shareholder letter acknowledged as much in his shareholder letter today), though other than staving off immediate collapse (which they did and do deserve credit for) they effectively 'kicked the can' to Obama. Again, I'm not blaming Paulson for this, it was a lame duck administration so not sure what else they did, but the financial crisis is much more under Bush's watch. Obama does have to get it right, and frankly it is still early days to judge that and he can't use the 'didnt happen on my watch' excuse not to fix the banking problem, but equally it is a problem he has to fix it, and I don't think you can fault him for spending what will be necessary to recapitalize the US banking industry.Anonymousnoreply@blogger.com