Metal Sludge Gossip Board

On Wednesday October 24, President Obama appeared on the Tonight Show with Jay Leno. During a particularly hard hitting section in which viewers sent in questions for the President, Mr. Obama was blindsided by a grueling line of inquiry from Samantha in Colorado who backed him into a corner with the following: “When you help your daughters with their homework, is there a subject you struggle with?”

The President answered: “Well, the math stuff I was fine with up until 7th grade. But Malia is now a freshman in High School and I’m pretty lost. It’s tough."

That seemingly clears up a lot of confusion as to why the President cannot balance the budget. It might also explain why the following statistics are a reality in this country and yet fall under his definition of “Recovery”:
The Federal Debt is 16.2 Trillion - up 52% since his inauguration.
The debt per person in this country is $51,484 - up $16,753 since his inauguration.
Home values have gone down by 10%. College tuitions have gone up 25%
There are 47 Million Americans receiving food stamps - up 46% since his inauguration
There are over 12 Million unemployed Americans. Over 20 Million are underemployed.

haha
don't remind me of the academics i can't help my kids with,
i'll never get a job!

Nevermind wrote: That seemingly clears up a lot of confusion as to why the President cannot balance the budget. It might also explain why the following statistics are a reality in this country and yet fall under his definition of “Recovery”:
The Federal Debt is 16.2 Trillion - up 52% since his inauguration.

The federal debt nearly tripled during Reagan's presidency. They called it "morning in America."

Federal Debt:
09/30/1980 907,701,000,000.00
09/30/1988 2,602,337,712,041.16

Nevermind wrote: The debt per person in this country is $51,484 - up $16,753 since his inauguration.

Debt per person nearly tripled under Reagan. It increased less than 1/3 under Obama.

Nevermind wrote: Home values have gone down by 10%.

Wrong. Home prices are down a little more than 1% since inauguration. Home prices have gone up about 5% this past year. Home equity is up 17% since inauguration.

National Composite Home Price Index for the United States
http://research.stlouisfed.org/fred2/graph/?g=cdt

Owners' Equity in Household Real Estate - Net Worth - Balance Sheet of Households and Nonprofit Organizations
http://research.stlouisfed.org/fred2/graph/?g=cdu

Nevermind wrote:College tuitions have gone up 25%

Wrong again shit for brains. Tuition has not gone up 25%. For 2008-2009 school year tution was 17,092. Tuition for 2010-2011 was 18,497. That's a 8.2% increase over two school years or 4%/year. 25% increase would be 5.7%/year.

Tuition costs of colleges and universities
http://nces.ed.gov/fastfacts/display.asp?id=76

Nevermind wrote: There are 47 Million Americans receiving food stamps - up 46% since his inauguration

It's called a recovery because the growth in food stamp rolls slowed dramatically. Food stamp rolls increased 23% in the first year Bush left the White House. They've increased .4% during the first 6 months of 2012, which means after adjusting for population growth, the food stamp rolls were reduced.

Jan 2009: 31,983,716
Jan 2010: 39,431,128
Jan 2011: 44,187,874
Jan 2012: 46,449,737
July 2012: 46,681,833

Nevermind wrote: There are over 12 Million unemployed Americans. Over 20 Million are underemployed.

It's called a recovery because there were 15.7 million unemployed and 27 million underemployed in Oct 2009. Fewer unemployed is a symptom of economic recovery dumb ass.

Finally, Obama is not concerned about the debt now because the federal govt is borrowing money at negative real rates for 5,7 and 10 years. The real yield on a 30 year bond is .43%.

Daily Treasury Real Yield Curve Rates
http://www.treasury.gov/resource-center ... =realyield

Don't forget what Dick Cheney said asshole, "Reagan taught us deficits do not matter."

Regardless, the deficit has been reduced 40% under Obama. The national debt increased 1.4 trillion in 2008. The deficit was 1.089 trillion in FY 2012. That's the largest deficit reduction in history. Deficit was reduced via spending cuts and economic growth. Fewer on medicaid, fewer receiving unemployment benefits and defense cuts all reduced the deficit 200 billion in FY 2012. Combination of economic recovery and a wind down of Bush's failed wars.

2011 & 2012 federal budget
http://fms.treas.gov/mts/mts0912.pdf

National Debt:
12/31/2007 9,229,172,659,218.31
12/31/2008 10,699,804,864,612.13

You're very stupid.

Nevermind wrote: