Obama is on track to leave a budget surplus

[Drunken Irishman]

Bill Clinton left the presidency with a budget surplus. And although the first five years of Barack Obama's presidency have featured high (but falling) deficits, it's starting to look like Obama could do the same.

For the first time since the 1950s, federal spending is lower than it was four years ago:

http://theweek.com/article/index/259876/speedreads-obama-is-on-track-to-leave-a-budget-surplus

[Orrex]

1. That sucks for whichever countries our next Republican Prez decides to invade

Can't have a surplus, god damn it!

[Jamaal510]

4. +1

[Enthusiast]

24. No. They will have to cut taxes on the wealthy while claiming,

"We only have the surplus because people are paying too much in taxes."

Then they'll start a faked up, unnecessary war. Circumstances guaranteed to generate a huge deficit, they then blame on Democrats. And the media will say, "That sounds entirely plausible, those Democrats and their tax n' spend ways." Rinse repeat.

[Laf.La.Dem.]

2. Who will claim credit??

The House GOP and Tea Party!!

[IronLionZion]

19. They do share the credit

they wanted budget cuts. Our side wanted revenue increases on the wealthy and capital gains. Its been a ferocious and stupid struggle which screwed a lot of good workers during the sequestration and other types of budget cuts, and the tea party shutdown. Some of these older laid off workers will never get another job with comparable income and/or have been forcibly retired. And a good chunk was from the draw down of the war efforts and canceling of enormous defense programs.

As despicable as it was, surplus was made possible through both cutting and raising as well as a lot of pain and shame.

Its getting harder to recruit top young people into the government and contracting workforce because this field has been so demonized by the right.

[Kablooie]

23. Yep. They managed to bring down the deficit in spite of Obama trying to increase it.

They are pure heros!

And if we happen to get a Republican president he will take credit and then drain it all away into the pockets of the rich and blame the Democrats for destroying the country.

There's no way to win against such blatant propaganda and lies.

[warrior1]

3. That means you paying too much tax, here's a refund America. Heh hey, "GWB"

[WhaTHellsgoingonhere]

5. I wonder how the Dems will fail to capitalize on this.

[tazkcmo]

6. Further proof

This is just more proof that Barry has no intention of leaving office and instead establishing a muslim dictatorship. He has created this surplus to fund his private army of muslims to enslave the christian citizens of this God Loving Country and take away our God Loving Guns!!!

A True Believer In God would be running a huge deficit so as to provide for the Wealthy Chosen Followers Of Our Lord.

This is both sarcasm (from me) and delusion (from some people I am related to).

[kydo]

7. Shhhhh. Its supposed to be a secret

Now the baggers will know the real truth on how he planned on pulling it off and start talking about 24/7 on that fake news channel and the other blow hearts like rush... then issa will investigate.

[underpants]

9. Look I probably shouldn't post this on line

but......those FEMA camps aren't going to build themselves

[tridim]

10. C'mon, the FEMA camps were built in 2009.

Everyone knows that!!!11

[underpants]

11. Ok

If you know anyone on the "BOLO List" let me know. I might be able to get them a better bunk. FYI

[IronLionZion]

20. and socialism, because ... you know...Benghazi!! nt

[Enthusiast]

25. Yes, don't let the cat out of the bag!

Shhhh.

[TheKentuckian]

8. Yay! We knuckled under and savaged demand during a downturn and have more struggling

than ever as we have managed more resources for the military, the security state, and the Prison Industrial Complex while we did it.

[Broward]

15. Agreed, this is nothing to be proud of.

[SidDithers]

12. DU rec...nt

Sid

[treestar]

13. Democrats are better at financing

and yet Republicans always claim they are.

[Igel]

14. CBO says otherwise.

Their 2/2014 update puts the deficit at just under $500 billion for f/y 2015, and then has it rise. That would put the lowest "pure" Obama deficit still $20 billion or more above the highest "pure" Bush deficit. (That 2009 number was a merger: all sorts of things spent by one prez or the other, with most of that 2009 deficit repaid or never disbursed.)

The "rosy" projections has a series of d'uh moments: like not having a $800 billion stimulus repeat on occasion, having the stimulus/TARP funds not only repaid but repaid with interest and counted against expenses, having the Bush/Obama tax cut recission repeat on occasion, the infamous sequester, routine ACA tax increases and a recurring end of the recession.

Causes have effects. The cause of the deficit decline isn't "Obama" but lots of little things that the on-going "Obamaness" of the Executive can't routinely produce.


And rather than be proud of that dip on 1/1/13, most DUers were profoundly distressed by it. Not only was it a series of tax increases over previous year's rates, but it was also the result of the sequester.

[former9thward]

16. There is no surplus projected.

From the CBO:




http://www.cbo.gov/publication/45010

[Takket]

21. yeah i don't know where that website got its data from, but...

i found the same data you did when i looked it up.

unless there are MASSIVE policy reforms over the last 2 yars of obama's presidency, through spending cuts of revenue increases, there is not going to be a surplus.

[Crabby Appleton]

17. The White House's own estimates don't even come close

to a surplus

see table 1.1 at following link:

http://www.whitehouse.gov/omb/budget/historicals

[Matariki]

18. Hopefully he won't be leaving it for another Bush presidency.

Hopefully we've learned from history.

[DCBob]

22. Seems the original author is simply basing his projection on raw trends not a real analysis.

The deficit fell from a peak of around 1.41T to 0.68T in 4 years.

2009 -1,412,688
2010 -1,294,373
2011 -1,299,593
2012 -1,086,963
2013 -679,502

If that trend continues for 3 more years then it could come close to a balanced budget. However, no actual legitimate analyst is predicting that since there are a number of significant factors that will stop that trend from continuing.

http://www.cbo.gov/publication/45010

[muriel_volestrangler]

27. However, those projections do show the debt as a percentage of GDP decreasing by 2015

2009 52.344
2010 60.974
2011 65.823
2012 70.094
2013 72.063
2014 73.644
2015 73.203
2016 72.692
2017 72.399
2018 72.686

which, if not exactly what the article claimed, is notable.

I'd rather have seen higher government spending (extended unemployment benefit, more infrastructure fixing, and maybe more Medicaid spending - I'm not sure what the refusal of some Repub states to extend Medicaid means for that projections), and not yet at a decreasing debt.

[MADem]

26. Sick of this shit, why don't people see it?

The GOP runs up the credit card, my property taxes ALWAYS go up, I pay more in taxes and things cost more when there's a winger in the WH.

The Dems pay OFF the credit card, my property taxes go DOWN, and things are more affordable. I pay less in income tax as well in "peace and prosperity" days--even despite being saddled with the fallout from two stupid wars and a whole load of horseshit.

[MannyGoldstein]

28. Which is what happens under austerity

So Hoover-esque.

In fact, the White House has bragged that he's out-Hoovering Hoover.

Oh boy!

[Cha]

29. President Obama's trying his best!

[Initech]

30. Which then next republican president will loot, pillage, and give to his Wall St criminal friends.

[Spider Jerusalem]

31. In an era of financial crisis and tepid recovery?

That's nothing to be proud of.

[IronLionZion]

32. GOP don't give a shit about the budget

they just want to cut funding for social programs and infrastructure as a way to damage the economy by taking money out. Deficit is a convenient excuse for them.

[PoliticAverse]

33. CBO releases new budget projections...

http://www.democraticunderground.com/10024821297