Parts Catalog Accessories Catalog How To Articles Tech Forums
Call Pelican Parts at 888-280-7799
Shopping Cart Cart | Project List | Order Status | Help



Go Back   PeachParts Mercedes-Benz Forum > General Discussions > Off-Topic Discussion

Reply
 
LinkBack Thread Tools Display Modes
  #1  
Old 08-22-2009, 01:31 AM
Banned
 
Join Date: Nov 2001
Location: Cape Cod Massachusetts
Posts: 1,427
TGIF! Bad News Dump!

W.H. hikes deficit estimate by $2 trillion!

The White House is likely to dramatically increase its projected 10-year budget deficit estimate next week by nearly $2 trillion, senior administration officials said Friday.
Obama administration officials have concluded the economy was much worse last year — and tax revenues much lower — than they had initially assumed, which means that the estimated budget deficit will increase from $7 trillion to about $9 trillion over the coming decade.
The planned revision was first reported by Reuters, and White House officials confirmed that account for POLITICO.
There’s no doubt the revision will be interpreted as bad news for an administration whose deficit spending has emerged as a political Achilles' heel.
Already, Republicans have been gaining political traction by accusing Obama of budget-busting spending.
Earlier in the week, even billionaire investor Warren Buffett — a political supporter of Obama — wrote in an op-ed that massive spending leaves the nation in “uncharted fiscal territory.” Still, echoing the Obama line, he said stimulus spending is necessary in the short term, but that the government must take aggressive steps to curtail spending after the economy begins to grow again.
That’s why any worsening of the deficit forecast is likely to be seen as bad news inside the White House. The timing of the story’s release fits a classic Washington media strategy of dumping bad news late on Fridays, as voters are less likely to hear about news that breaks on Friday nights and appears on a Saturday.


Read more: http://www.politico.com/news/stories/0809/26352.html#ixzz0Ot2bI4Td

Reply With Quote
  #2  
Old 08-22-2009, 12:41 PM
Palangi's Avatar
L' Résistance
 
Join Date: Dec 2000
Location: Republique de Banana
Posts: 3,496
No worries.........

Candidate Obama said he would cut the deficit in half.
__________________
Palangi

2004 C240 Wagon 203.261 Baby Benz
2008 ML320 CDI Highway Cruiser
2006 Toyota Prius, Saving the Planet @ 48 mpg
2000 F-150, Destroying the Planet @ 20 mpg



TRUMP .......... WHITEHOUSE
HILLARY .........JAILHOUSE
BERNIE .......... NUTHOUSE
0BAMA .......... OUTHOUSE
Reply With Quote
  #3  
Old 08-22-2009, 07:04 PM
waterboarding w/medmech
 
Join Date: Feb 2006
Location: Coming to your hometown
Posts: 7,987
Bush did it
Reply With Quote
  #4  
Old 08-23-2009, 07:11 AM
G-Benz's Avatar
Razorback Soccer Dad
 
Join Date: Apr 2001
Location: Dallas/Fort-Worth
Posts: 5,711
Sort-term spending to jumpstart the economy made sense, but unfortunately, the economic turnaround will be torturously slow in this country because WE DON'T MAKE ANYTHING!!! We just spend and consume!!!
__________________
2009 ML350 (106K) - Family vehicle
2001 CLK430 Cabriolet (80K) - Wife's car
2005 BMW 645CI (138K) - My daily driver
2016 Mustang (32K) - Daughter's car
Reply With Quote
  #5  
Old 08-23-2009, 07:26 AM
Ara T.'s Avatar
Registered User
 
Join Date: Sep 2004
Location: Santa Rosa, CA
Posts: 2,075
Quote:
Originally Posted by G-Benz View Post
Sort-term spending to jumpstart the economy made sense, but unfortunately, the economic turnaround will be torturously slow in this country because WE DON'T MAKE ANYTHING!!! We just spend and consume!!!
How many people can afford stuff made by workers getting paid 40 bucks an hour + health benefits?
__________________
1985 CA 300D Turbo , 213K mi
Reply With Quote
  #6  
Old 08-23-2009, 10:53 AM
280EZRider's Avatar
No Dumping
 
Join Date: Jul 2007
Location: Southern Oregon Valley
Posts: 1,599
Quote:
Originally Posted by G-Benz View Post
Sort-term spending to jumpstart the economy made sense, but unfortunately, the economic turnaround will be torturously slow in this country because WE DON'T MAKE ANYTHING!!! We just spend and consume!!!
That's just it: Short-term spending, which I fear will evolve into long-term spending. Failing big businesses are not yet finished extorting money from us. And why should the government not throw more of our money at these white-collar criminals? After all, when you have a bottomless pit of money & taxpayers lining up like sheep to the slaughter, the spending will never stop. This bailout crap has set a dangerous precedent. It never should have started to begin with.
__________________

Don't Chrome them; polish them
Reply With Quote
  #7  
Old 08-23-2009, 12:35 PM
G-Benz's Avatar
Razorback Soccer Dad
 
Join Date: Apr 2001
Location: Dallas/Fort-Worth
Posts: 5,711
Quote:
Originally Posted by 280EZRider View Post
That's just it: Short-term spending, which I fear will evolve into long-term spending. Failing big businesses are not yet finished extorting money from us. And why should the government not throw more of our money at these white-collar criminals? After all, when you have a bottomless pit of money & taxpayers lining up like sheep to the slaughter, the spending will never stop. This bailout crap has set a dangerous precedent. It never should have started to begin with.
Given that there is no crystal ball to look at the future, would have been wise to go ahead and let the economy continue tanking without any government assistance whatsoever?
__________________
2009 ML350 (106K) - Family vehicle
2001 CLK430 Cabriolet (80K) - Wife's car
2005 BMW 645CI (138K) - My daily driver
2016 Mustang (32K) - Daughter's car
Reply With Quote
  #8  
Old 08-23-2009, 12:39 PM
mgburg's Avatar
"Illegal" 3rd Dist. Rep.
 
Join Date: May 2006
Location: Onalaska, WI.
Posts: 221
Quote:
Originally Posted by Palangi View Post
No worries.........

Candidate Obama said he would cut the deficit in half.
He knew there was a "2" in his estimates and equations...he just got the "divide by" and "multiply by" signs mixed up...

Don't worry. He's going to promise to fix that little mixup soon...
__________________
.

.
M. G. Burg
'10 - Dakota SXT - Daily Ride / ≈ 172.5K
.'76 - 450SLC - 107.024.12 / < .89.20 K
..'77 - 280E - 123.033.12 / > 128.20 K
...'67 - El Camino - 283ci / > 207.00 K
....'75 - Yamaha - 650XS / < 21.00 K
.....'87 - G20 Sportvan / > 206.00 K
......'85 - 4WINNS 160 I.O. / 140hp
.......'74 - Honda CT70 / Real 125

.
“I didn’t really say everything I said.”
. . . . . . . . . . . . . . . . . . ~ Yogi Berra ~
Reply With Quote
  #9  
Old 08-23-2009, 12:43 PM
mgburg's Avatar
"Illegal" 3rd Dist. Rep.
 
Join Date: May 2006
Location: Onalaska, WI.
Posts: 221
Quote:
Originally Posted by 280EZRider View Post
That's just it: Short-term spending, which I fear will evolve into long-term spending. Failing big businesses are not yet finished extorting money from us. And why should the government not throw more of our money at these white-collar criminals? After all, when you have a bottomless pit of money & taxpayers lining up like sheep to the slaughter, the spending will never stop. This bailout crap has set a dangerous precedent. It never should have started to begin with.
Our current Boobermint is following the MasterCard system of financial responsibility...spend first, then figure out WHO is going to pay for it...


It looked like Christmas there for a bit...didn't it?

Now, it's getting old, cold and where just hitting the 1st of January...
__________________
.

.
M. G. Burg
'10 - Dakota SXT - Daily Ride / ≈ 172.5K
.'76 - 450SLC - 107.024.12 / < .89.20 K
..'77 - 280E - 123.033.12 / > 128.20 K
...'67 - El Camino - 283ci / > 207.00 K
....'75 - Yamaha - 650XS / < 21.00 K
.....'87 - G20 Sportvan / > 206.00 K
......'85 - 4WINNS 160 I.O. / 140hp
.......'74 - Honda CT70 / Real 125

.
“I didn’t really say everything I said.”
. . . . . . . . . . . . . . . . . . ~ Yogi Berra ~
Reply With Quote
  #10  
Old 08-23-2009, 01:29 PM
Registered User
 
Join Date: Jul 2004
Posts: 7,381
Quote:
Originally Posted by G-Benz View Post
Given that there is no crystal ball to look at the future, would have been wise to go ahead and let the economy continue tanking without any government assistance whatsoever?
Bush's "everybody thinks it's the right thing to do" was the Iraq war. Obama's is spending billions like it was Monopoly money.

Reply With Quote
Reply

Bookmarks

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On
Trackbacks are On
Pingbacks are On
Refbacks are On




All times are GMT -4. The time now is 07:43 AM.


Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2024, vBulletin Solutions, Inc.
Search Engine Optimization by vBSEO 3.6.0
Copyright 2024 Pelican Parts, LLC - Posts may be archived for display on the Peach Parts or Pelican Parts Website -    DMCA Registered Agent Contact Page