Tag Archives: Obama

Commentary

Comparison of budget deficit and GDP under Reagan and Obama

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Here’s a nice article from the Wall Street Journal.

Excerpt:

Democrats have been running Congress for nearly four years, and President Obama has been at the White House for 18 months, so it’s not too soon to ask: How’s that working out? One devastating scorecard came out Friday from the White House, in the form of its own semi-annual budget review.

The message: Tax revenues are smaller, spending is greater, and the deficits are thus larger than the White House has been saying. No wonder it dumped the news on the eve of a sweltering mid-July weekend.

[…]As a share of the economy, the White House now says the deficit in fiscal 2010, which ends on September 30, will be even larger than in 2009: 10%. That’s after a full year of economic growth, given that the recovery began last summer. More remarkable still, the deficit will barely fall in fiscal 2011, declining only to 9.2% of GDP in the second year of a recovery that ought to be gaining steam.

Let’s compare Obama and Reagan.

To put this in historical context, consider the nearby table that compares deficits as a share of GDP under Presidents Reagan and Obama. The 1981-82 recession was comparable in severity to the one Mr. Obama inherited and reached similar heights of unemployment. The deficits that resulted from that recession were the source of huge political consternation, with Democrats, the press corps and even some senior Reagan aides insisting that only a huge tax increase could save the country from ruin.

Yet as the table shows, the Reagan deficits never reached more than 6% of GDP, and that happened only in 1983, the first year of economic recovery. As the 1980s expansion continued, the deficits fell, especially as the pace of spending slowed in the latter part of Reagan’s second term.

[…]The Obama deficits are double that, and more than one-third higher than even the Gipper’s worst year. What explains this? Part of it is that Democrats are simply spending much more, sending outlays as a share of GDP above 25% for the first time since World War II. The White House now says outlays will be higher in 2011, at 25.1% of GDP, than at the height of the stimulus in 2009 and 2010.

[…]The other explanation for the record Obama deficits is that revenues have been so anemic, thanks to the lackluster economic recovery. In the Reagan years, revenues as a share of GDP never fell lower than 17.3%, despite (or we would say because of) his pro-growth tax cuts. In 2010, by contrast, the White House now says tax revenues will hit an astonishing low of 14.5% of GDP, rising only to 15.8% in 2011, even with the huge tax increase that hits on January 1, 2011.

Tax cuts worked, and government spending failed. Next time, let’s do what works – not what feels good.

Videos

Video explaining how higher taxes affect families

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ECM sent me this video that he found on Caffeinated Thoughts, and I am going to leave it up ALL DAY Saturday to make sure that you all watch it.

This is why I am annoyed to no end by fiscally liberal social conservatives who want government to solve all of these “crises” like enacting universal health care and preventing the global warming monster from killing us all. Stop it you miserable toadies! Especially you, stupid Mike Huckabee! You’re eating up all the money that single men need in order to have the confidence to start families.

I’m going to say it one more time. Good men are running the numbers on marriage right now. And we cannot take on the roles of husband and father when the jobs situation is a mess because of Obama, the taxes are too high because of Obama, and there is a looming entitlement crisis for our future children that Obama is making worse with his trillion dollar deficits. As if we didn’t have enough to worry about from punitive divorce courts, false DV charges, underperforming public schools, and weak deterrence of criminals and terrorists.

Think! If you want men to marry then vote for policies that allow men to marry. If you want big government, then you can’t have marriages and families and children. You can either have marriage and children, or you can have big government social programs. Choose.

News

Journalists conspired to spike the Jeremiah Wright story

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Story here in the Daily Caller. (H/T Hot Air)

Excerpt:

It was the moment of greatest peril for then-Sen. Barack Obama’s political career. In the heat of the presidential campaign, videos surfaced of Obama’s pastor, the Rev. Jeremiah Wright, angrily denouncing whites, the U.S. government and America itself. Obama had once bragged of his closeness to Wright. Now the black nationalist preacher’s rhetoric was threatening to torpedo Obama’s campaign.

The crisis reached a howling pitch in mid-April, 2008, at an ABC News debate moderated by Charlie Gibson and George Stephanopoulos. Gibson asked Obama why it had taken him so long – nearly a year since Wright’s remarks became public – to dissociate himself from them. Stephanopoulos asked, “Do you think Reverend Wright loves America as much as you do?”

Watching this all at home were members of Journolist, a listserv comprised of several hundred liberal journalists, as well as like-minded professors and activists. The tough questioning from the ABC anchors left many of them outraged. “George [Stephanopoulos],” fumed Richard Kim of the Nation, is “being a disgusting little rat snake.”

Others went further. According to records obtained by The Daily Caller, at several points during the 2008 presidential campaign a group of liberal journalists took radical steps to protect their favored candidate. Employees of news organizations including Time, Politico, the Huffington Post, the Baltimore Sun, the Guardian, Salon and the New Republic participated in outpourings of anger over how Obama had been treated in the media, and in some cases plotted to fix the damage.

In one instance, Spencer Ackerman of the Washington Independent urged his colleagues to deflect attention from Obama’s relationship with Wright by changing the subject. Pick one of Obama’s conservative critics, Ackerman wrote, “Fred Barnes, Karl Rove, who cares — and call them racists.”

The mainstream news media is not objective. They’re Democrats. They vote Democrat. They give money to Democrats.