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macgupta commented on the diary post President Obama Doesn’t Understand the Origins of the Deficit by Dean Baker.
Nov 6 2008 David Leonhardt in the NYT http://query.nytimes.com/gst/fullpage.html?res=9407E7DD1231F935A35752C1A96E9C8B63&scp=6&sq=Obama+deficit&st=nyt “Throughout the campaign, whenever Mr. Obama was asked about the financial crisis, he liked to turn the conversation back to his long-term plans, by saying that they were meant to solve the very problems that had caused the crisis in the first place. Back in January, [...]
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macgupta commented on the diary post President Obama Doesn’t Understand the Origins of the Deficit by Dean Baker.
http://realclearpolitics.blogs.time.com/2008/09/09/obama_on_the_deficit/ Sept 9, 2008 Following news that the budget deficit will break previous records, Obama said: Today, we learned that Washington has run up a record budget deficit of $407 billion this year, more than $1 trillion worse than the budget surplus President Bush promised for 2008 in his first budget. John McCain wants us [...]
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macgupta commented on the diary post President Obama Doesn’t Understand the Origins of the Deficit by Dean Baker.
No, it is Dean Baker relying on your inability or unwillingness to search the Congressional Budget Office website (cbo.gov). The CBO made projections in September 2008 of a 2009 deficit of $438 billion and in January 2009 of a 2009 deficit of $1.2 trillion.
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macgupta commented on the diary post President Obama Doesn’t Understand the Origins of the Deficit by Dean Baker.
It isn’t a gaffe because Dean Baker goofed up. “The Congressional Budget Office’s projections from January of 2008, the last ones made before it recognized the housing bubble and the implications of its collapse, showed a deficit of just $198 billion for 2009, the year President Obama took office. In other words, the deficit was [...]
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macgupta commented on the diary post President Obama Doesn’t Understand the Origins of the Deficit by Dean Baker.
“The Congressional Budget Office’s projections from January of 2008, the last ones made before it recognized the housing bubble and the implications of its collapse, showed a deficit of just $198 billion for 2009, the year President Obama took office. In other words, the deficit was absolutely not “on track to top $1 trillion.”” This [...]
