Obama Flak Answering Question About National Debt: The Health Care Bill Will Reduce The Deficit

Proof • November 24, 2009

Video is here.
Essentially White House spokesman Robert Gibbs answers a question from ABC’s Jack Tapper about the nation’s spiraling-out-of-control debt (it passed $12 trillion last week).
Gibbs’ answer? The health care bill will reduce the national deficit by $133 billion over the next ten years.
First of all, that’s a lie. The only deficit reductions in the health care bill are mirages manufactured by creating accounting. If passed, the health care bill would raise taxes and begin collecting revenues immediately but wouldn’t start actually paying out for health care until 2013. Something that allows the bill to collect revenues for four years before paying anything out, leaving a nice “surplus” after ten years. Of course, that surplus will disappear after ten years and the deficit-expansion will begin, but only “extremists” and Hitler-impersonating tea baggers talk about that kind of stuff.
Second, the White House itself recently reported that interest payments on the national debt would be going up from $220 billion/year this year to over $700 billion/year in ten years.
That’s roughly the cost of the “stimulus” spending spree, or the cost of the entire Iraq war, spent every single year just to maintain our debt.
But yes, by all means, let’s focus on the $133 billion in imaginary deficit reduction in the health care bill.

Tags: Asshats, Domestic Issues, Politics

http://Array sayanything-7939

o and if this bill passes and actually reduces the deficit…I will eat my shoe.
sayanything-203

Interesting… asked about the national debt, Gibbs stupidly tries to talk about the budget deficit instead.
sayanything-795

Hey dino, then you better call your beloved WaPo (and about a million other sources) and tell them that Obama’s deficits aren’t going to almost double the previous deficit. Because they’ve obviously been getting bad info, either that or you’re full of sh*t as usual. Could you possibly have one cogent talking-point, or at least one independent thought. Yeah, didn’t think so.

Reality is great, join us sometime in it, you might like it.
sayanything-2819

Dino, do you ever read? Or is it that you can’t comprehend what all those words mean?

The Republicans never had total control of the government. They had a one vote majority in the Senate and our moderates are actually moderates willing to go against the party line. Had Republicans had the numbers the Dems have and had they done what the Dems are doing then you could in fact claim that conservative principles caused this meltdown.

But, you can’t back that up, you know it’s not true. The Republicans, from George Bush down to the lowliest freshman congressman allowed the Democrats to control the agenda. They allowed the explosion of earmarks from both sides because they had to resort to bribery to get the support for our troops. Thus, every defense bill was full of riders.

The No Child Left Behind and the Prescription Drug Plan were bipartisan bills that the Dems mostly wrote and then ran from when the States balked.

You claim it was the tax cuts, but those cuts benefited everyone who actually pays taxes and the revenue to the government increased.

Let me explain something so that maybe even you can understand. When people work, they pay taxes, the more people working, the more taxes collected. All one has to do is look out over the country now and see that with the high unemployment, the revenues are falling at alarming rates. The taxes on the rich have remained the same. It is the working class that have no money to pay and it is the working class that are suffering now. When the unemployment goes back down, the federal tax revenues will rise again. And that isn’t going to happen while business owners and rich people are unsure of what the future holds.

Give it up Dino, your postulating is an effort in futility as anyone here with the sense God gave an ant knows better. You simply come across as an obnoxious child thinking he is impressing the adults.
sayanything-203

Your ideas FAILED. They don’t WORK.

Another self-deluded lie. Cutting tax rates, particularly the rate of taxation on capital formation, has been tried by Republican and Democrat presidents alike. Coolidge, Kennedy, Ford, Reagan, Clinton, and Bush 43. And in every case, the result was an increase in economic growth, jobs, and ultimately tax revenues.

You have brayed long and loud about tax cuts (they’re tax RATE cuts, dumbass!) causing both deficits and recession, but challenged you can offer no proof of either assertion.

On the other hand, massive Keynesian deficit spending was tried in this country by FDR during the 1930s. But the unemployment rate dropped below 10% only when WWII broke out and millions of Americans went off to war while millions more built tanks, ships and airplanes. Meanwhile, Japan experienced its own deflationary recession during the 1990s caused, ironically, by a burst real estate bubble among other things. The Japanese government tried exactly the same deficit spending program favored by Obama and the Left. Japan has still not recovered fully, and the period is now known as the “Lost Decade.”

Your solution has also been tried in a number of other country’s over the years. Zimbabwe being the most prominent… and the most ghastly. Inflation there runs in the thousands of percent per year. And Venezuela isn’t all that far behind Mugabe’s former “Breadbasket of Africa either.

It is the Democrats’ reckless spending that brought all this on. And more of the same is only compounding the problem. Eventually, someone on the Left will have to acknowledge that without sustained private sector economic growth, you liberals will, in the words of Margaret Thatcher, “run out of other people’s money.”
sayanything-203

US economic growth in 2008, 0.4% . That Chavez guy must be good

AV,

I’m sorry… I missed where you stated what the US inflation rate was for 2007 and 2008. Could you repeat, please?

There is a certain delicious paradox in the fact that you chose to ignore inflation as a factor in comparing the two countries’ economies. Exquisite!

Incidentally, the majority of that Venezuelan GDP increase is due to the run up in world crude oil prices. It had nothing to do with any substantive domestic economic growth.
sayanything-203

Really?

CIA World Book does list an GDP growth rate of 8% in 2007 and 4.8% in 2008, true. Both that was more than offset by an inflation rate of 20% in 2007 and more than 30% in 2008.

Venezuela’s economy, and its government coffers, are dependent on oil. But the oil Venezuela has is a very heavy oil. Hard to extract, hard to refine. And having expropriated the foreign oil companies’ holdings, the Chavez government has nowhere to turn for the expertise or the technology to substantive increase production and revenues.

Brazil, on the other hand, in partnership with those same foreign oil companies stiffed by Chavez, has discovered more oil off its coast in the past two years than all of the proven Venezuelan reserves.

Venezuela under Hugo Chavez isn’t yet as far down the toilet as Zimbabwe. But the handle’s been pushed and the water is swirling.
sayanything-5371

“if you check your facts you’ll see that Venezuela has done quite well under Chavez.”

My God. What a shameless bootlicker you are. You lefties never miss a chance to suck up to a dictator.
sayanything-342

The deficit has already doubled under Obama. We have 10.3% unemployment and 8 million jobs lost under Obama. He has done squat for the economy. The Democrat plan is a miserable failure.

The public will revolt and vote in 2010 and 2012. ObamaMao will crash and burn and Republicans will return.

Don’t go away mad Barry, just go away.
sayanything-9974

Watch the lips – if they are moving they are lying.
sayanything-203

So Chavez was fairly elected and liked in his country…

The only one who believes that Chavez was “fairly” elected ws Jimmy Carter. And he thought the same thing about Yasser Arafat.
AKA WOOF

Did you eat your other shoe?
sayanything-5371

You never fail to prove what an idiot you are. Chavez’s goon squads control the voting and practice voter intimidation and beatings of the opposition and control of radio, television and the press. Obama is a radical leftist who virtually had the office purchased for him by Soros and a media that functions as his propaganda arm. George Bush was fairly elected, get over it. You can’t because you are an idiot.
sayanything-7939

For all the libs who love chavez and Venezuela, have you ever thought of moving there? If America so terrible and all these other socialized countries are so great why do you stay here? Just something to think about…
sayanything-203

In addition to the accounting gimmicks Rob details, the Reid/Pelosi Healthcare “reform” relies on some $400 billion in cuts in Medicare. But those aren’t going to happen either.
I don’t like today’s GOP

Facts aren’t facts if they don’t fit Robbie’s ideology.
sayanything-4416

According to the CBO, it will.

PS. $5 trillion of that debt was due to the period from 2001 to 2006 when REPUBLICANS had TOTAL CONTROL.

A fact you’ll be hearing more as time goes on.
sayanything-4416

Obama and the democrats haven’t enough tim to run up debt. That deficit is due to the meltdown and tax cuts that existed prior to their time in power.

Look, you people had YEARS to futz this country up BAD. Now you don’t want to give anyone a chance to try and correct it. What is wrong with you people? Are you insane?

YOU LOST THE ELECTION. Time to let someone else try to govern since your side FAILED. If you manage to obstruct everything and propose no solutions you won’t be winning. We’ll all be losing.

Well, not all of us, mainly your children. They’re already screwed beyond belief.
sayanything-256

Umm Bat One, if you check your facts you’ll see that Venezuela has done quite well under Chavez.

Also, Margaret Thatcher and her son were infamous for diverting tax-payer money into their own pockets (via dodgy arms deals). So your quote simply backs up Dino’s view of conservatives, that they feed from the public trough while accusing others of doing the same.
sayanything-256

So Chavez was fairly elected and liked in his country so, by conservative logic, that makes him a dictator? I guess Obama was a dictator then, but dubya wasn’t because he wasn’t fairly elected and was widely hated?

Sheesh, conservatives are nuts.
http://sayanythingblog.com robport

1) The CBO was scoring the bill based on the phony accounting. They scored
it only for 10 years, and within that ten years thanks to the accounting
tricks I described it does run an overall surplus. Thus reducing the
deficit.

Beyond ten years it’s another entitlement program that’s going to be a
killer for our deficits.

2) Even if it does save $133 billion over ten years (which, again, it
doesn’t) our interest payments on the national debt are going up over $500
billion in that same time frame. And while Republicans are certainly
responsible for a good chunk of that (something I’ve readily admitted and
have routinely criticized), Obama tripled the deifict in his first 9 months
in office and isn’t taking his foot off the accelerator yet.

I mean, we can bicker about which party did what to the national debt, but
can’t we at least admit that Republicans running up deficits and debt isn’t
any worse than Obama and his liberals doing it?

Or are you guys not capable of being that honest?
sayanything-1317

.6 trillion of the debt was passed over Bush’s veto. 2 of the 5 trillion was during the last two years, when DEMOCRATS were in charge. Nice try. Fail though.
sayanything-221

“The Health Care Bill will reduce the deficit,” Chimed the Three Stooges, Obama, Reid,and Pelosi.
Nyuck…Nyuck…Nyuck.
You Betcha.
sayanything-2361

“The Health Care Bill will reduce the deficit,”
I had to watch the video to see if he kept a straight face. Kudos to the man, it would take a lot of botox to maintain that expression. Gibbs is committed.

Pres Obama was able to state that excessive spending and debt could lead to a double dip recession and undermine consumer confidence. Again, acting like it has nothing to do his fiscal policy. Amazing, almost superhuman abilities.
sayanything-1317

You are so childish and boring. Do you ever have anything to add other than “Conservatives are stupid?”

Eh?
sayanything-101

Medicare and Medicare are BROKE! Good luck! Keep a first-aid kit handy.
sayanything-256

Bat One, US economic growth in 2008, 0.4% . That Chavez guy must be good (or Bush must be really, really bad).
sayanything-4416

Your ideas FAILED. They don’t WORK.
sayanything-256

Bat One, you realize that GDP growth figures are adjusted for inflation don’t you?
mplsbob

The only you cut the deficit will be to cut gov’t spending or raise taxes. I wonder which way they will go? Not really. Grab your wallets and bend over.
sayanything-6955

Deficits are rarely a revenue problem, they are a “SPENDING” problem. The money wasted by our government is shameful, “NO” one in this country should have to pay more than 10% in fed income tax, ever! In my lifetime, there has never been a government program that was not, and is not riddled with fraud, waste and abuse. Clean up the waste and fraud in existing programs before you come looking to spend more. And “bagdad bob” Gibbs, you cant even lie good!
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Obama Flak Answering Question About National Debt: The Health Care Bill Will Reduce The Deficit

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