Re: OT our fearless leader

On Sun, 17 May 2009 12:04:23 -0700, "BillB" <bogus@xxxxxxxx> wrote:



"FL Turbo" <noemail@xxxxxxxxxx> wrote in message
news:ja30155dkr4b6snv47bo1a63h2ppj44big@xxxxxxxxxx
On Sat, 16 May 2009 12:33:34 -0700, "BillB" <bogus@xxxxxxxx> wrote:


And yes, Mr.Smartypants, I do know the difference between GDP and the
national debt.

I hope so, but that's not what you were confusing.

Now all you have to do is explain why anyone should have faith that
the GDP over the next 10 years will rise by enough to keep that 20%+/-
ratio constant.


Hmm
I think I heard my snippage detector beeping.
Hang on a few minutes while I go check.
..
..
..
Yup, the detector was on the job.

Here it is again for your viewing pleasure.
------------------------------------------------------------------------
................................. ratio constant.

Hell, the chart you posted only went up to 2005, 4 years ago.

We do know for sure that in 2009 the GDP dropped into the sewer, while
government spending is scheduled to soar like an eagle.
-----------------------------------------------------------------------

Could be less, or it could be more. Those are the best current estimates by
the best economists out there holding the best information. Do you have a
better source?


I do not believe you posted any estimates at all.
All I remember is the aforementioned chart that tracked government
spending as a percentage of GDP up to 2005 .
Did I get it right this time?

Not that anyone should know exactly what the percentages referred to
since there wasn't any label or legend explaining it.
(I did cleverly deduce that 1995, for example, referred to the year
1995.)


Your spending as a % of GDP
can remain relatively constant while your debt as a % of GDP increases.
What
would cause that?


The only thing I can think of is that the GDP would have to rise
almost every year to keep up with the increase in debt.
That is, excepting some accounting sleight-of-hand maneuvers.


Yes, but that was not the question.

Is there something else I'm missing here?

Yes. Just the question and the answer. Other than that you are doing great.


Gee, I spose I didn't do a good enough job of answering.
Hmmm

Spending/GDP
Um, oh math is just so hard.
Percentages are even harder.

I know.
Spending and GDP would have to rise or fall at the same rate to make
the percentage remain constant?

Is that the right answer?
Can I have a cookie now?

By the way, the Heritage Foundation (lol) conveniently forgot to tell you
(I
wonder why?) that $3T of the $9T increase in public debt is because of
more
transparent accounting rules brought in by the Obama administration. Why
would you go to a fringe partisan source like that for honest, objective
information?

I spose the Heritage Foundations should be grateful to Obama for those
new transparent accounting rules so they could make a more accurate
forecast.
Are you complaining because they had the benefit of those accounting
rules?

It appears that the Heritage Foundation got their numbers from CBO
estimates.

Is the CBO another one of those "fringe partisan sources", too?

The CBO has noted the accounting changes, just as any company would have to
do on their annual report by law. Why do they have to do it by law? Because
otherwise it gives a completely false representation of reality. So why
didn't the Heritage Foundation note that on their big colorful chart? Are
they trying to inform you, or con you? The answer to that one is pretty
clear. The more interesting question is why would you go there for
information? Are you trying to inform yourself, or just have your
preconceived notions validated? I suspect the latter.


You need to take another look at that colorful chart again.
It appears that you were so awed by the colors that you forgot to read
the text.

http://www.heritage.org/research/features/BudgetChartBook/Obama-Budget-Increase-Debt-26-Percent-GDP.aspx

Obama's Budget Would Increase Debt by 26.3 Percent of GDP Compared to
CBO Baseline
The non-partisan Congressional Budget Office projects that publicly
held debt will reach 56.1 percent of GDP under current law. If
President Obama's budget is implemented, CBO projects debt to reach
82.4 percent of GDP.
----------------------------------------------------------------------------

Well gollee, Gomer.
There it is right up there at the top.
C B O

If anything, you could accuse Heritage of plagiarizing CBO reports.

Whatever you do, don't read the fine print notes at the botttom of the
page.

-----------------------------------------------------------------------------
Obama's Budget Would Create Unprecedented Deficits
Obama's Budget Would Send Debt to Levels Not Seen Since World War II
Obama's Budget Would Increase Debt by 26.3 Percent of GDP Compared to
CBO Baseline
Federal Budget Deficits Will Reach Levels Never Seen Before in the
U.S.
The Unfunded Liabilities of Entitlement Programs Dwarf Recent Bailout
Spending

.

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