Anonymous
Anonymous asked in Politics & GovernmentPolitics · 9 years ago

After the Democrat-induced 6-year freefall of the federal budget, what does the CBO mean by "fiscal cliff" ?

http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2...

I thought Obama brought us BACK from that cliff edge?

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  • 9 years ago
    Favorite Answer

    He did.

    • In the 2009 fiscal year — the last of George W. Bush’s presidency — federal spending rose by 17.9% from $2.98 trillion to $3.52 trillion. Check the official numbers at the Office of Management and Budget.

    • In fiscal 2010 — the first budget under Obama — spending fell 1.8% to $3.46 trillion.

    • In fiscal 2011, spending rose 4.3% to $3.60 trillion.

    • In fiscal 2012, spending is set to rise 0.7% to $3.63 trillion, according to the Congressional Budget Office’s estimate of the budget that was agreed to last August.

    • Finally in fiscal 2013 — the final budget of Obama’s term — spending is scheduled to fall 1.3% to $3.58 trillion.

  • ulrich
    Lv 4
    4 years ago

    With US working classification investment all federal budgets (as US companies pay no taxes), and because US federal budgets are only bypass-with the aid of revenue for US companies offering centers to US federal government by using sweetheart cronie government provider contracts -- it somewhat is accepted prepare that each and anybody federal budgets are in fact larger each year by using 10% (no be counted if "artwork" is needed or not). this is undemanding US corporatism, legal business complicated, and federal government prepare, as conditioned with the aid of oppression and financial abuse over US working classification for some years. preparing a finances concept as such is only knee-jerk reporting. this is not needed.

  • 9 years ago

    LOL

    Thanks for the link

    "The nonpartisan agency said in a report today that the economy would contract at an annual rate of 1.3 percent in the first half of 2013 if lawmakers allow the George W. Bush-era tax cuts to expire as scheduled and don't head off $1.2 trillion in government spending cuts set to begin taking effect in January."

    Exactly the opposite of what Obama and the libs want to do....

  • 9 years ago

    Obama is 1 and done.

    Reality 101 for Libs.

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  • T-Bone
    Lv 7
    9 years ago

    To answer your question;

    Obama is driving America off the fiscal cliff "Thelma and Louise" style......

  • Anonymous
    9 years ago

    Yes, it's time we go back to the republican plan to get rid of the deficit - cut taxes and increase spending. It's the new math!

    Source(s): All the politicians claim their plan will fix everything, ten years from now - and there are still people who believe it.
  • Anonymous
    9 years ago

    Obama is destroying the American economy so he can establish a socialist dictatorship.

  • Anonymous
    9 years ago

    He put it in "D" and know has us teetering on the edge. He should have put it in "R".

  • We are screwed.

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