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McCain Was Right

Texan

Well-known member
On Spending and the Deficit, McCain Was Right

By Byron York
Chief Political Correspondent 3/27/09


Barack Obama used to get very upset about federal budget deficits. Denouncing an "orgy of spending and enormous deficits," he turned to John McCain during their presidential debates last fall and said, "We have had, over the last eight years, the biggest increases in deficit spending and national debt in our history…Now we have a half-trillion deficit annually…and Sen. McCain voted for four out of five of those George Bush budgets."

That was then. Now, President Obama is asking lawmakers to vote for a budget with a deficit three times the size of the one that so disturbed candidate Obama just a few months ago. And Obama foresees, for years to come, deficits that dwarf those he felt so passionately about way, way back in 2008.

Everywhere you go on Capitol Hill, you hear echoes of the last campaign's spending debate. So on Thursday morning, as the budget fight raged, I asked McCain about the president's seemingly forgotten concern about deficits. McCain doesn't like to rehash the campaign -- "The one thing Americans don't like is a sore loser," he told me -- but when I read him Obama's quote from the debate, he said, "Well, there are a number of statements that were made by then-candidate Obama which have not translated into his policies."

That's an understatement. The deficit issue could be one of the most, if not the most, consequential of Obama's unkept campaign promises. Just how consequential was made clear last week in a little-noticed conference call featuring Budget Director Peter Orszag. Orszag was trying to explain to reporters how the Obama administration calculated its rather rosy forecasts for economic growth. Near the end of the call, he was asked whether deficits along the lines of those predicted by the Congressional Budget Office are sustainable."

Orszag at first dodged the question, saying he was sure the final Obama budget will "reflect a fiscally sustainable path." But the questioner persisted: Are those deficits sustainable? Relenting, Orszag said such deficits, in the range of five percent of the Gross Domestic Product, "would lead to rising debt-to-GDP ratios in a manner that would ultimately not be sustainable."

The simple version of that is: If the Congressional Budget Office projections are correct, we're headed for hell in a handbasket.

I asked McCain what might happen if Obama and Orszag get their way. First, the U.S. could have to print a lot of new money, "running the huge risk of inflation and returning to the situation of the 1970s, only far worse," McCain said. The second option is to raise taxes.

Just this week, former Clinton budget director Alice Rivlin conceded that Obama's budget could present a "scary scenario" that would "raise deficits to unsustainable levels well after the economy recovers." The solution, she wrote, is higher taxes, and not just for the richest of the rich.

Of course, that's what McCain said during the campaign. And it's what the much-maligned Joe the Plumber said, too. Remember when he took so much flak for objecting to Obama's plan to raise taxes only on those Americans making more than $250,000 a year? Joe didn't make anything near that, the critics said, so why was he worrying?

The point was not that Joe made that much, or that anybody at McCain's rallies made that much -- the vast majority didn't. The point was that Obama was promising so many things that to pay for them he would eventually have to raise taxes on people making far less than $250,000. Look out, McCain warned -- someday he'll come after you.

And now that's where we appear to be headed. At some point, Obama will likely have to bow to those in his party who say he must raise taxes if he wants to pay for health care and other expensive initiatives.

Some skeptics believe that was the plan all along. McCain wouldn't go that far, but when I brought up the idea, he did sound a bit suspicious. "Well, you set up a situation that puts spending at an unprecedented amount of GDP, and then you turn around and say, 'Of course we're going to have to raise taxes to pay for this,'" McCain told me. "I'm not saying it was their plan, but it certainly was inevitable."



http://www.washingtonexaminer.com/politics/On-Spending-and-the-Deficit-McCain-Was-Right-41936467.html
 

Texan

Well-known member
Now, President Obama is asking lawmakers to vote for a budget with a deficit three times the size of the one that so disturbed candidate Obama just a few months ago.

The deficit issue could be one of the most, if not the most, consequential of Obama's unkept campaign promises.


Any comments from you Obama supporters? Is this duplicity in your guy acceptable to you?
 

Tam

Well-known member
It was on the news the other day that the Dems have cut the tax cut for 95% of Americans out of the budget, plus the Cap and Trade and Health Care money. It will be interesting to see what Obama gets them to put back in. What makes me think it will not be the tax cut if it means Health care and Energy will have to be put on hold. :? :wink:
 

Texan

Well-known member
Texan said:
Now, President Obama is asking lawmakers to vote for a budget with a deficit three times the size of the one that so disturbed candidate Obama just a few months ago.

The deficit issue could be one of the most, if not the most, consequential of Obama's unkept campaign promises.


Any comments from you Obama supporters? Is this duplicity in your guy acceptable to you?
No answer? Maybe that's actually an answer?
 

aplusmnt

Well-known member
Texan said:
Texan said:
Now, President Obama is asking lawmakers to vote for a budget with a deficit three times the size of the one that so disturbed candidate Obama just a few months ago.

The deficit issue could be one of the most, if not the most, consequential of Obama's unkept campaign promises.


Any comments from you Obama supporters? Is this duplicity in your guy acceptable to you?
No answer? Maybe that's actually an answer?

Yea, we know how much they like to argue about things. If someone does not believe that just start a thread about Palin's daughter or McCain's or gays or bestiality. They come out in droves for them juicy arguments, but lately the weather has been to nice for them to debate the serious ones. Or maybe they just can not stand to agree with us, so silence is better than admitting they made a mistake with Obama!
 
A

Anonymous

Guest
Comical- when I was complaining about Bush's Trillions he was spending (only half of which was actually put in the real budget so folks knew it was being spent) and the Repub controlled Congress was rubberstamping their cultist hero- without even holding hearings or questioning it---- which is now being proven to have had Billions $ in waste and corrupt spending and money that can't be accounted for- I was called Unpatriotic-and AntiAmerican-and many more things- and chastised royally because we were in a national emergency---- but now that the country sits on the brink of totally collapsing (much because of that drunken sailor Repub spending) and economists say we need to prop up the countries economy to keep it from happening those same cultist Repubs are taking potshots at it.... :roll:

What a JOKE these partisan politicians are .....
 
A

Anonymous

Guest
Sandhusker said:
I'm sorry, OT, but you are soooooooooooooo full of carp. You are soooooooooo deep in denial.

So bring me up some posts from 3-4-5 years ago where you were complaining about the Bush Trillion $ expenditures and debt....Or the rubberstamping being done by those that have called themselves "fiscal conservatives"....
"Fiscal conservatives"-- what a joke-- Corporate fascists and Nation builders for the oil cartels and globalists fits better.....

In the councils of government, we must guard against the acquisition of unwarranted influence, whether sought or unsought, by the military-industrial complex. The potential for the disastrous rise of misplaced power exists and will persist. We must never let the weight of this combination endanger our liberties or democratic processes. We should take nothing for granted. Only an alert and knowledgeable citizenry can compel the proper meshing of the huge industrial and military machinery of defense with our peaceful methods and goals so that security and liberty may prosper together.
~President of the United States (and former General of the Army) Dwight D. Eisenhower in his Farewell Address to the Nation on January 17, 1961
 

Mike

Well-known member
Ideed they are fiscal conservatives, comparatively, you can be sure of it.

Your bunch has tripled the deficit in just 60 days in office. :lol: :lol: :lol:

With more to come shortly.................................. :mad: :mad:
 
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Anonymous

Guest
Mike said:
Ideed they are fiscal conservatives, comparatively, you can be sure of it.

Your bunch has tripled the deficit in just 60 days in office. :lol: :lol: :lol:

With more to come shortly.................................. :mad: :mad:

And the Bluedog Dems made the Repubs look like a drunk Podunk Nebraska banker cut loose in a Whorehouse- compared to those (R's) back then....
 

Mike

Well-known member
Oldtimer said:
Mike said:
Ideed they are fiscal conservatives, comparatively, you can be sure of it.

Your bunch has tripled the deficit in just 60 days in office. :lol: :lol: :lol:

With more to come shortly.................................. :mad: :mad:

And the Bluedog Dems made the Repubs look like a drunk Podunk Nebraska banker cut loose in a Whorehouse- compared to those (R's) back then....

Face it, Fat Man. You bet on a losing hand this time...... :lol: :lol: :lol:

I know it's hard to admit it. For once in your life you thought you were right........... But.............DIDN'T HAPPEN.............

I'm selling Burkhas cheap...... Better get some more for your grandaughters.................................... :lol: :lol: :lol: :lol:

I've got a few left with the screen cloth over the face part........... to keep the flies out............... :lol: :lol: :lol: :lol:
 

Sandhusker

Well-known member
Oldtimer said:
Mike said:
Ideed they are fiscal conservatives, comparatively, you can be sure of it.

Your bunch has tripled the deficit in just 60 days in office. :lol: :lol: :lol:

With more to come shortly.................................. :mad: :mad:

And the Bluedog Dems made the Repubs look like a drunk Podunk Nebraska banker cut loose in a Whorehouse- compared to those (R's) back then....

I didn't like Bush's spending and spoke up about it. Now, this guy that you voted for, thinking you were voting against the Wall St. influence (but were dead wrong like we tried to tell you over and over) is making Bush's spending look like nothing. He's driving us toward bankruptcy and you damn libs still can't figure it out. Now you're talking that the Republicans are the globalists - have you any flipping idea what Obama is pushing? Damm, OT, FIGURE IT OUT! How many times does Obama have to prove us right and how many times does Mike get the opportunity to say, "I told you so", before you quit fighting it and FIGURE IT OUT?

From the Navarrette article that I posted; "They won't tolerate any criticism of the president or his administration, finding it easier to simply attack critics . And whatever goes wrong that they can't defend or deflect, they just blame on George W. Bush. "

Look at your last couple of posts, OT.....
 
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Anonymous

Guest
To keep from having a run on the banks.

Any economist alive will tell you that the first one averted total disaster.


But Mike says the Bush Bailout and all the money stuck out there was to keep you GREEDY bankers in a job - and was needed :???:

So now the same economists that said that was needed- that also say major amounts of Job Stimulus money is needed are wrong... :???:
 

hypocritexposer

Well-known member
OT, you're not getting this are you? Money can be spent in a responsible way, or an irresponsible. Doing nothing was not an option, which is your first clue that there was different options.

The Stimulus plan is not the only factor in Obama's expanded deficit! It was just the first "bounced Cheq"
 

Sandhusker

Well-known member
Oldtimer said:
To keep from having a run on the banks.

Any economist alive will tell you that the first one averted total disaster.


But Mike says the Bush Bailout and all the money stuck out there was to keep you GREEDY bankers in a job - and was needed :???:

So now the same economists that said that was needed- that also say major amounts of Job Stimulus money is needed are wrong... :???:

Why don't you tell us how much of that porkulus bill was actually stimulus. That was another snow job by this administration.
 
A

Anonymous

Guest
Sandhusker said:
Oldtimer said:
To keep from having a run on the banks.

Any economist alive will tell you that the first one averted total disaster.


But Mike says the Bush Bailout and all the money stuck out there was to keep you GREEDY bankers in a job - and was needed :???:

So now the same economists that said that was needed- that also say major amounts of Job Stimulus money is needed are wrong... :???:

Why don't you tell us how much of that porkulus bill was actually stimulus. That was another snow job by this administration.

Kind of depends on your Governor- and Congressional delegation- which were the ones that came up with- and submitted all the stimulus projects for your state....If you got pork and no stimulus for your state- they are the first to look at...
Montana has a large amount of projects that are infrastructure repair-updating- or building-- and many are to the benefit of the rural areas and agricultural producers....
 

hypocritexposer

Well-known member
If there was "pork", included in individual state proposals, that was Obama's opportunity to make good on one of his Campaign promises, to cut the "pork", what was his choice?
 

aplusmnt

Well-known member
Oldtimer said:
Comical- when I was complaining about Bush's Trillions he was spending (only half of which was actually put in the real budget so folks knew it was being spent) and the Repub controlled Congress was rubberstamping their cultist hero- without even holding hearings or questioning it---- which is now being proven to have had Billions $ in waste and corrupt spending and money that can't be accounted for- I was called Unpatriotic-and AntiAmerican-and many more things- and chastised royally because we were in a national emergency---- but now that the country sits on the brink of totally collapsing (much because of that drunken sailor Repub spending) and economists say we need to prop up the countries economy to keep it from happening those same cultist Repubs are taking potshots at it.... :roll:

What a JOKE these partisan politicians are .....

Bull, many of us spoke out about Bush's spending. I have always agreed he spent to much and was to soft on immigration. I believe other have also agreed with that.

Do not confuse the reasons we spoke of you being Anti-American you are confusing our debates about the War on Terror with economic issues. That is wrong and you know it!
 
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