Reality vs. Obama: Is It Really a Revenue Problem?

CrownThomas's picture

Since nobody seems to want to actually look into anything this President says or does, let's take a quick looksie into his handling of the Treasury's checkbook.

Last week President Obama accepted his nomination to run for a second term. In his speech, the comedian-in-chief had this fantastic line:

"All they had to offer was the same prescriptions they've had for the last thirty years. Have a surplus, try a tax cut. Deficit too high, try another. Feel a cold comin' on, take two tax cuts roll back some regulations and call us in the morning."

Hilarious. However, the line should have read:

"Bring in more individual income taxes per year than anyone over the past thirty years? Double down on government spending. Still creating record deficits? Make jokes about tax cuts and pretend you're not actually spending the country into bankruptcy"

Over the past thirty plus years (ironically since Nixon ended the gold standard), the U.S. has seen government spending explode, while revenue tried to keep pace. The key takeaway from the chart below (other than the fact that Keynesians have ruined the finances of the country):

- In 8 years, George W. Bush spent ~$2 Trillion more than he took in.

- In Obama's first 3 years, he has spent ~$4 Trillion more than he has taken in.

So in other words, it's taken 3 years for Obama to double GW's total deficit.

One other tidbit, this does not include any fiscal 2012 data...



By the way, over the last thirty years President Obama has taken in the most individual income tax revenue per year than any other president -- the spending, well you can see for yourself.


In summary, the problem the U.S. faces is not a revenue problem, it's simply a spending problem.


But hey, sometimes it's better to make jokes about completely ruining the country than to actually stop spending.


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coltek's picture

You have to hand it to TPTB. They have engineered and nurtured this entire situation.


They placed a black as President so they could play the race card. They fabricated his legitimacy in a way that was questionable, with deleberate red herrings like false birth certificates, SSN, and questionable history - all to nurture any conspiracy theory that is going down to belittle anyone who might come up with any questions.


I would guess that they are using his inherant tyrannical traits from his African brothers to use executive order to obviate congress and the Constitution to subjugate the population. Let's face it, how many of them relinquish power even when voted out?


They have loaded us all with unsustainable debt using zero interest rates, this to include European countries now losing sovereignty and assets- The USA and UK are big targets. They want what is left of your wealth and property, and the plan is working to perfection.


They know that eventually we will rise up, that is probably why they have recently ordered 2Bn rounds of hollow point for their government agents. You can work that out for yourselves.....


Y'all need to think a little sideways folks and realize just what the hell is going on here. Agenda 21 and the NWO.


Call me a nut case if you like but I would bet a pound to a pinch of shit that I am right.



Heroic Couplet's picture

Yea, keep trying to get RoMONEY into the White House.

janchup's picture

Who? The same people who were going to make a fortune on Facebook.

goodrich4bk's picture

This is kindergarten analysis posturing as serious thought.  And it is false.  Bush did not increase the national debt by only 2T in 8 years.  It was 5T.  And it wasn't Bush, it was our government while Bush was President.

More importantly, when measuing our national debt, nominal figures are worse than useless.  They are deceptive, and this poster knows it.  While Bush was President, we increased the national debt from 5T to 10T, a doubling in eight years.  While Obama has been President, it has increased it another 6T, or 60% in 3 and one half years.  The rate of change has increased, but no more than it increased between 1981 and 1984, the first of Reagan's terms.  That's what happens during a deep recession.

If you want somebody to blame, blame the House.  Why?  Because ALL SPENDING BILL must start in the House.  That's written into the Constitution for those who want to check.  So if we're spending too much, blame the House.  The President does not initiatate a dime of spending. 

CrownThomas's picture

Apparently it takes a kindergarten analysis to show that this President makes plenty of money and spends too much.

You're not the only one who has read the constitution. Did Obamacare (officially ruled a tax) originate in the House? Look into that.

Disenchanted's picture



It's origin was from the US Senate Finance Committee...


The revolving door spins faster on healthcare reform


The Obama administration hires a former VP of the nation's largest private insurer to implement the plan

 Beginning in 2001, Liz Fowler was the Chief Counsel for the Senate Finance Committee in charge of health and entitlement issues, i.e., legislation that primarily affected the healthcare industry.  As her own biography boasts:


In this capacity, she was responsible for overseeing health policy issues within the Committee’s jurisdiction, including          Medicare, Medicaid, SCHIP, health tax issues and initiatives to provide health coverage for the uninsured. She played a key role in the 2003 Medicare Prescription Drug, Improvement and Modernization Act (MMA).


Her work in that government health policy position was apparently quite pleasing to the healthcare industry because, in 2006, she was hired by the health insurance giant WellPoint to serve as its Vice President for Public Policy and External Affairs — in other words, overseeing WellPoint’s lobbying and other government-influencing activities.  Then, in 2008, once it was likely that there would be a Democratic President and thus a new, massive healthcare bill enacted, Fowler left WellPoint and returned to the Senate, as top aide to Democratic Sen. Max Baucus, the Senate Finance Committee Chairman who would oversee the drafting of the healthcare bill (Baucus’s previous top healthcare aide, Michelle Easton, a former PhRMA official, left to become a lobbyist for the healthcare industry).  Now, as David Sirota noted last night, Fowler has a brand new job, as reported by The Billings Gazette:


Liz Fowler, a key staffer for U.S. Sen. Max Baucus who helped draft the federal health reform bill enacted in March, is joining the Obama administration to help implement the new law.

Fowler, chief health counsel for the Senate Finance Committee, which Baucus chairs, will become deputy director of the Office of Consumer Information and Oversight at the U.S. Department of Health and Human Services.


Seems to me that since 'conservative'  CJ of SCOTUS John Roberts decided it was a tax he should have declared it null and void(and unconstitutional) since it was a tax that did not originate in the US House. But what they do is after the fact conjure up a House bill that is similar to the Senate bill and then make it look like it came from the US House originally. In other words it just another example of something being done "under color of law."


nmewn's picture

The entirety of ObamaCare is basically an amendment to an already passed bill from the House that dealt with tax breaks for service members. The Senate stuffed ObamaCare into that can see the history of it here...

It was technically a tax & spending bill starting out (although for something completely different) so Roberts is correct to call the result of the entire body of legislation a tax because it is. And all the "liberal" justices said it was constitutional, just for their own statist reasons.

The "liberals" seemed to think government can mandate anything upon the people, Roberts maintained it only has the power to tax them.

MillionDollarBoner_'s picture

Some people have very short memories.

Who put Hank Paulson in place? And who came to Congress threatening complete global apocalypse if TARP didn't happen? Who started the ruinously expensive wars in Iraq and Afghanistan? Who championed offshoring and outsourcing? Who gutted the USA like a fish and handed the carcass to Obummer?

I'm no fan of the Debt Brother but fer chrissakes be more honest.

CrownThomas's picture

Who said bush (and every president referred to in this) didn't spend more than they took in? Point is, we're in the here and now. Give $1 trillion back to bush, Obama still outspends him in only three years. This needs to stop - taxing the rich 100% will not solve this problem.

ElTerco's picture

How about taxing capital gains at 35%?  This doesn't target the rich, it targets a source of income that (most) people get for sitting on their ass, irrespective of income level.

lolmao500's picture

But but but...if the government didn't spent all that money, the society would have had collapsed and tens of millions more would be unemployed!!

(this is what Obamabots say)

baldski's picture

I've never seen such a bunch of right wingnuts gathered in one place. Who are you assholes? Divide and conquer is as old as Caesar and you shitheads are proof the oligarchy has suceeded beyond their wildest dreams!

ebworthen's picture

Ponzinomics - The Force of the 21st Century.

If you are an individual or household, austerity and pain for you.

If you are a bank or a government, debt is income, and your property and assets is ours.

adr's picture

Record corporate profits, less corporate taxes collected than Clinton.

Perhaps that is where the record profits came from under Obama.

What wonders prosecuting absolutely nobody for financial crimes can do for a nation.

Joebloinvestor's picture

This guy needs to be replaced as soon as possible.

doMiKY's picture


...this is all deck chairs on the titanic after it is under and europe are essentially in default...

koncaswatch's picture

If you're going to vote.... Always, always vote the incumbent out.

cblesz's picture

Seriously...what the hell is wrong with people?  I cannot understand how this clown is going to win again...I am simply schocked.

nmewn's picture

He won't...don't believe the polls...he couldn't fill a friiggin football stadium on one of the most important nights of his life.

To that end, I hereby put myself forward into the pool of potential Treasury Secretary's, I've used Turbo-Tax as well.

Successfully I might add ;-)

Neoisolationist's picture

I agree with you that he should not win. Looking at the polls on realclearpolitics (I only look seriously at gallup and rasmussen when I go there), he's got a bump. Which is somewhat expected and a little disturbing however. According to Larry Sabato, the bump from a national convention disappears complely after two weeks. I'm looking to two weeks from now to see if the gallup/rasmussen polls settle where they were prior to the conventions. If they don't, the we have a problem.

Gallup polls registered voters, and it's consistently about even at 45 percent. Rasmussen polls likely voters and it's been +2 to +3 in favor of romney, but still with about 8 percent undecided. This pattern is what we should be going back to.

If we don't, then the gentleman we currently call president will probably get re-elected.

MillionDollarBoner_'s picture

The Debt Brother will win - if only because his rival is a two-faced ass-raping Wall Street loving schmuck.

Anyways, are these two really the cream of the crop? Yous guys have what 300 million citizens and these two douchebags are the best you can come up with?



PatriotBites's picture

After pledging to cut the deficit in half he instead added more debt than Bush in half the time. HOPE & CHANGE LOL!

Seasmoke's picture

a regular Redd Foxx

koncaswatch's picture

I wonder if in private he has Redd's soapy mouth.

ZeroAvatar's picture

All I hear is "Romney did such and such blah blah blah",  "I have a plan blah blah blah", ad nauseum. 


What happened to his plan when Obeyme took the presidency?  He acts as if he hasn't been in office the last 3 1/2 years. 


Obummer hasn't done ONE GODDAMNED THING for America.  All he's done is bypass congress with his thousands of executive orders, in his overt attempt to turn America into a 3rd world socialist country. 


He's Clueless.  An empty suit.  Brainless.  Show me a budget?  Show me ANYTHING?  Besides million-dollar vacations and golf photo-ops.


Man, what a worthless mother-fucker.

ajax's picture


@zero avatar - more full of shit one simply cannot be:

"Obummer hasn't done ONE GODDAMNED THING for America.  All he's done is bypass congress with his thousands of executive orders, in his overt attempt to turn America into a 3rd world socialist country."

 Oh please. Here, spend 41 minutes listening closely to an Obama "socialist" explaining how it all works:


Go ahead and listen to it !!  This is what you want - you've got it.



apberusdisvet's picture

Bring home the troops, abolish DHS, Dept of Educ, EPA,  means test SS and Health Care, and finally send all FED mafia to the gas chamber.  As for revenue, abolish the income tax, institute a VAT of 15%, exempting food and basic clothing.

adr's picture


You dn't need a VAT. You need to destroy the system of easy credit that creates overconsumption. All a VAT does is punish the responsible who wish to purchase something nice with their hard earned money.

A deadbeat on welfare won't care about a VAT, they'll just get more to cover it, plus since they didn't earn the income they don't care how they spend it.

You do know that if you receive WIC benefits and you don't spend it all, the government will reduce your benefit the next month. Just like any government agency, waste is encouraged.

Amagnonx's picture

The controller scum want a consumption tax, because its extremely hard to avoid - it targets middle class and lower income people and once its in you can just keep on ramping it.

There should be no tax, zero tax on anything, especially on income.


The federal govt needs to be scaled back by around 99% as a reasonable start - abolish Fed reserve, fractional reserve banking, ALL intelligence agencies, demand TOTAL transparency from govt, and push all the power down to local level.


The govt can easily be funded by nationalizing all the banks, then you can bump them to 100% reserves by printing if you like - but a sound currency should also be part of the solution.

hootowl's picture

God only requires 10%.  That ought to be enough for the U.S. Government........If not....hang the spenders.

Any elected member of the congress or the presidency that is in office at a time the budget is not balanced must be constitutionally declared to be ineligible for re-election, ever and not allowed any government  pension as a result of their serving in exceptions.


nmewn's picture

Agreed, ten percent is more than enough for the federalis.

I would say three but I'm feeling generous ;-)

jeff montanye's picture

speaking of "constitutionally", it's currently illegal to limit campaign contributions by corporations because that's a restriction of free speech but it's legal, so far, to assassinate citizens by executive order without appeal.  

one wonders how likely another constitutional amendment is and what its power might be.

nmewn's picture

Hope & Chains.

A Lunatic's picture

Funny. I find it odd that he is still prescribing 'hope' as a remedy for what ails us, especially since 'hope' is what you have when all other avenues have failed. I don't want hope. I want a fucking solution........

TradingChief's picture

The solution is rather simple but most "Mericans" don't want to hear it.

1) Get rid of your stupid 2 party system, all it does is bring the old bums in to replace the old bums

2) Stop trying to "arrange the world" in your image.

3) stop fighting wars that revolve around Oil because its blatantly obvious why you are doing it to both the free world, and the ones with the oil.

5) Stop spending money you do not have trying to enforce your methodology ,and political system on the world.

6) Do away with earmarks, and every other form of bribery you have in your system, DEMAND IT, toss those that need it !

7) Stop blaming Obama for a failure of 20 years of poor Government. Clinton exempted Credit Default swaps from the "bucket shop law in 2001 and Bush did nothing to reverse that decision.Two parties, two massive failures, and who is your choice this election?  Go ahead, throw these bums out, and replace them with the old bums, that screwed you just as bad, last time.

8) It was Bushs dream for every American to own his own white picket fence and it was his government that let the banksters do there dirty deeds. They ignored obvious signs because they were either in the pocket of the banks or needed them for re-election.

9) Next time a country gets in trouble and they seek help, start the clock and let everyone know what the bill is, and make it payable at the end of the month or the support is over because quite frankly, you are borke.

10)For the person who blames Obama for massive spending, please look at what Bush left him. The worst crisis in US history since the depression. So before laying any blame. Look at your 2 party system and tell me Bush had nothing to do with this? The Republicans pulled the pin on the  grenade, that toppled the system, does it matter whoput the grenade there? It only really matters if you want to learn by it. If you prefer to look at the explosion results and then say Obama was in power so its his fault, then you deserve a 2 party system, you really do!!

11) lastly get off your butts and voice your opinion on more then this board, its your country, do soimething about it!! I cannot get over how everyone just sits around and does nothing? Americans used to laugh at us Canucks and call us too "quite' and we did not want to rock the boat!!!! Man, if we are passifists you guys are pussies, you have watched the wholesale transfer of your tax dollars to companies and politicans and just yap about it....<b>where is the ACTION?????</b>

I see <u>Zero, NADA, DICKWEED, ZILCH</u> standby because you will get it in the butt again, after this election, NO MATTER WHO WINS, but I just don't think anyone really gets it, or wants to stop it. Strange, very Strange!

The US is good at suggesting every other country should  take the bad medicine when itheir system is in failure. When its yours, no one wants to take it, and makes excuses why you do not have too!  I think the "balls in the USA" went the way of the DO-DO bird? I used to admire America, I don't see much to admire anymore, and you all collectively watch it spiralling down............ <b> Nothing heard, nothing done, day after day?</b>

Amagnonx's picture

I'd put in a #1 ahead of your #1;


Break up the control of media - while the propaganda keeps being confused with 'truth' or 'data' things won't change for the better.

Winston Churchill's picture

Right on.

Pissing and moaning has become the American pastime,not action.

Any naval officier will tell you however, that when the lower deck stops

grumbling,its time to break out the weapons.

Seems to me there are some suddenly quiet people out there, and

November will be a seminal month.

darteaus's picture

Hey Chief:

It looks like you tookum to biggum hit off the old peace pipe, or you drank too much honey boo-boo go juice.

ISEEIT's picture

Trading chief-

I appreciate your two cents worth but don't you realize that you're screaming "fire" to people who already realize they're in a burning building? It's not Left/Right here. More focus on the most immediate target which happens to be Odummma. Assuming we actually have an election this year, you can rest assured that these pages will be as brutal as necessary toward the next clown. Don't under appreciate the power of words either. Open dissent is where it begins. The outrage expressed toward odummma is fueled by the fact that his traitorous ass and the useful idiots who adore him pose as solutions. They are not. Not even close.

TradingChief's picture

I don't agree with your logic. Obama is not the issue here. One has to think of the greater good. If the Republicans were in office right now, I would suggest leaving them there. Because the democrats are, I would also suggest leaving them there. Why? here is the reason and logic around it.

1) The greatest threat to the US right now is political instablitiy of any kind.

2) You are substituting one set of bums for another set of bums.

3) The American people need time to change, it has to start sometime, it might as well start now. So start sending out articles to newspapers across the US

a) Start educating the American voter on what SHOULD be important to him/her. Tell them to stop the incessant flag waving and "THINK".

b) create websites throughout the US, that lists the major issues and what each individual candidate and leader will do to rectify the issue. Saying that the other guy did wrong, does not make you right by default.

c) Start demanding the voter require answers, not platitudes, or "were number 1" answers but real answers to the issues.

4) Look at the opposing party and demand accountability. What precisely will they do, and what precisely will they change and HOLD THEM ACCOUNTABLE!

5) Make a move to change your system. a 2 party system is destined for mediocrity and they know it. All you need is to have money and be a mediocre player in US politics and you are IN!

6) You are $16trillion in the hole not counting unfunded liabilities does anyone actually think that replacing every major Public Servant and leader of every Gov department is a good idea right now?

Now immediately the Repubs here will say I am pro Obama! No I am not, I am pro "Do nothing" and start to seek real change. I will guarantee you that if you swap out every politician, Public Servant in November, you will be in a deeper recession then you would have been had you let the present set of bums remain.

So, much like the US was not able to heed its own advice to Japan and kill their largest banks, at sometime you have to make a hard decision. Do you do it now with an old set of bums, or do you do it after you install the old bums?

Thats your choice, but changing anything now, will guarantee the can of "real change" will be kicked 4 more years down the road.


You will note, that the comment above that I blame Bush garnered about 17 votes. You should also note that there are about 17 votes in the original post for me. Which means you guys, no matter what you "say" here, you are still being polarized by either being Democrat or Republican instead of looking at the greater good of America.

What is best for America? For those that say Republican I say BULLSHIT! For those that say Democrat, I day BULLSHIT! because both parties have shown they are failures at best and believe they can continue to be, because you dumb shits have no other choice! Think outside the box, what is best for America?

adr's picture

He gets a downvote because he doesn't put any Blame on Obama.

"Look what Bush left him"

So adding $4 trillion+ to the deficit in under four years, not passing a budget in four years, increasing food stamp recipients by 45%, having the longest unemployment stretch on record, removing the work requirement from welfare, passing the NDAA, passing the socialist health care act, and a myriad of other treasonous crimes WERE ALL BUSH'S FAULT!!!!

Bush was a terrible president, but at least the guy seemed to be a human being you could actually talk to. Obama is a straight up Manchurian Candidate you couldn't even build better in a lab.

TradingChief's picture

Declaration- I am neither Democrat or Republican-

What no one really knows is how much of the 4 trillion Obama spent, was forced upon him by the collapse, and how much he would have spent had things been "nornal". The assumption that Obama's $4 trillion+ is because he likes pissing away money is not a logical position to take. For instance, no one in history, has extended benefits for 90 months+ to millions or had too. How many other programs were extended because it was assumed the recession was going to be short?

Now add all the money that was given away to the banksters, and what you got in return was a payback that was not cash but bad paper pegged at 2007 prices. Now devalue that paper to 2012 prices and you have even more debt.

"mericans" have a natural knack of backing a party based on two things that have nothing to do with politics. If you are pro-life, then you are Republican, thats it. If you are Pro-Choice then you are Democrat. So it does not matter if the Democrats, have 55 points to their platform, if you are a Pro-Choicer then you sit on your bench and cheer everythime Obama says something. If the Republicans have 55 platform points and you disagree with 54, as long as they are Pro-life you support them.

This is why the issue is not only never raised in Canuck politics, it is avoided like the plague!! So like it or not, religion runs your politics. If you look at the group or nutbars they interviewed at both conventions, it shows you who runs politics in America.

The argument that its all Bushs fault has merit. After all, the kind of catastrophy that took place in the US and the world takes time to develop. The person that was in power just happened to be Republican, it could haveeasily been a democrat.

Your system is totally farked up. You are in a constant state of election. So NOTHING gets done. Senators hold up bills or fark up natural progression forward because they want to get elected in less then a year. Congressman do the same. THen when the election is over, those that come up for relection 2 years later start waffling. Then you throw in a Presidential election and that screws the whole thing.

Romney and Obama are the same. The Republicans and the Democrats are the same. Both live off the idea that very soon, you will toss the other out. There really is no need for politics in the USA. What you do is plant all the right "one liners" everytime you speak and then do nothing but place TV ads saying what the other guy did wrong. No one asks what you will do right, the idea is just keep slamming people with what they other guy did wrong.

You have a group of Royalty called the Democrats who want their sons, and their sons sons, to be part of that royalty. You have a group called the Democrats that also believe they are royalty and want their sons, sons to be part of that royalty. Then they make you feel like you are part of that royalty by holding a convention every few years. But make no mistake, the power is centralized within a core, that is the true Royalty of the USA.

The Peons (people of the USA) flag wave and support the Royalty that is associated with one issue of Life or the other. If that does not become a huge issue in the US on election day, or NOT large enough, then they pick another hot bed. The NRA and your right to carry weapons and polarize the platform with a position that attracts the most votes.

From an outsiders point of view, its truly a joke to watch US politics and the election process. A person/party can get in, just by slamming the other party and never have a platform of their own. The disgusting thing about it, is Harper in Canada, decided that he likes your style of politics, but his time is limited.

When the Liberals in Canada were caught with their fingers in the till, sending out bribes, paying off people, issuing sole sourced contracts for work never done, they were quickly reduced from the largest party in Canada to the smallest. They will sit in that detention box until they realize who runs Canada. Harper keeps running Canada like a thug, he will be gone as well. Why? because we have choice. If the prominence of the NDP becomes to over bearing, Canada will just start up another party to challenge the idiots that think they can remain idiots and just wait for you to toss, the other bums out.

I give some benefit of the doubt to Obama only because he never really had a stable playing field to play in. And, secondly most importantly, the US voter was so gullible it was rediculous and believed as he did, that he could actually change things. Until you break away from a 2 party system, their is enough old bums in a new government to stop the new guys from achieving anything. You are perpetually guaranteed of mediocre to poor government no matter who is in power.

Problem Is's picture

" If you are pro-life, then you are Republican, thats it. If you are Pro-Choice then you are Democrat."

Wedge Issues
This, my friend, is why the ruling oligarchy invented wedge issues in the first place... It keeps the two party system, both parties owned by the same oligarchy, in place while the criminal finance elite keep looting...

This whole financial crisis, euphemism for Wall Street crime wave... is going exactly as the bankster criminals ruling Amerika say it goes...

Can You Say Empty Suit Useful Idiot?
Whether it's Willard "The Rat" Romney (mitt is a baseball glove) or Bullshit Barry Soetoro... the results are the same because it ain't these two ass clowns giving the orders...

If the US political class wasn't pliable bought off pieces of shit.. they would not rise to the national level. The oligarchy has systems in place for any Mr. Smiths trying to go to Washington...

End of story...

TradingChief's picture

I agree, but, when will the US and its people understand that wedge issues do nothing but feed the existing mediocre governments they inherit through what most Americans believe is a free vote? The "true strong and free. Is becoming a sham/lie, not so strong because its bankrupt and free is in the eye of the beholder. You are free till you object.

i-dog's picture

I had to log in to give you a +1. Excellent summary.

For some weird reason ... (only dumb fucking sheep logged in tonight?) ... your entirely sensible and accurate post had 3 junks already, and no positives!!

TradingChief's picture

I noticed and appreciated it, I was getting beaten down there for a bit :)

nmewn's picture

Unfortunately too many people "hoped" without having access to a simple calculator.

I reconciled myself long ago to the fact that people do in fact want a "democracy" until they see the results of the empty promises made by pandering imbecile politicians.

The solution is repudiation of debt.

The vast majority of the populace here (the planet really) have no idea how their money comes into being, by the very people who are the most completely bankrupt of the funds to do it AND the morals & ethics to be entrusted with the power to make t happen in the first place.

The hope has come to an end and the change is about to happen...its what we all make of it that will count.

Disenchanted's picture




"The solution is repudiation of debt."


Very nice... +1 

Repudiate public debt accumulated through fraudulent means. Which in my opinion includes anything with the Fed's fingerprints.

Divine Wind's picture



Very nice.

Time to put Obama out to grass.

Like a nag sent to pasture.