Deficit? But the government should not own anything. By saying our country is in a deficit is saying that something which should not own something, has spent something, which it does not own. The only way it can pay for this is by taking away from the citizens. Higher taxes lead to surpluses. Is this a good thing? Not necessarily. It's less money for the citizens to have. Ideally you want a system close to a break even with minimal inflation.
@byouno93 That is absolutely retarded. Everything can own assets. The government owns gold. Every piece of military hardware is an asset with value. The national parks are stewarded by the government. That is an asset. This Mises/Paul nonsense is a completely dysfunctional world view.
@quinndiesel1977 Dysfunctional? It's only logic and basic economics. Scarce resources are why everything has a cost. By giving the government more, you are leaving the citizen with less and less. It only appears "dysfunctional" to some because they've been jaded into believing into a deteriorating system that's been in place for their entire lives. I could name countless reasons why our current system has no hope but I only have some 10 characters remaining.
Yes. Less revenue is what you initially get when you cut taxes. But eventually, you increase revenue as the tax cuts help businesses create more jobs. And you can't completely count out spending. If you are making less money than you are spending, then you still need to control spending. Example: A dual-income family has one member lose their job. They continue spending like they are dual-income. What do you think will happen? You can't spend money that you predict you will have.
Bush the liberal? You have got to drunk, or suffering from asphyxiation? Or perhaps you just have no fucking clue what it means to be "liberal" or "conservative." Maybe you should ask Rush, or Conservapedia.
@quinndiesel1977 TARP was a very liberal bill that had serious consequences in 2008. Bush warmongered his way in the middle east and put into effect the terrible Patriot act. Obama however still has the troops abroad and is proposing even more infringing acts. Question is, "how do you define 'liberal'?"
@byouno93 A very "liberal" bill? What does that even mean? It had bipartisan support. TARP had serious consequences, many of them good. "Obama still has troops abroad..." of course he does. Did you think he was going to throw unicorn sprinkles on the first day and wisp them all home like Peter Pan?
@quinndiesel1977 Sorry I had to shorten my comment, ran out of room. Liberal in today's worldview. It's a Keynesian type bill. Government intervention, spending for the sake of economic protection is most definitely part of the liberal ideology. The consequences were bad, it is one reason why the deficit is so bad.
yes, the 2nd Bush was the shits too. He was basically a liberal in sheep's clothing. That doesn't make Obama right. Obama is taking over where Bush the liberal left off. Of course many of us already know that the presidents are just puppets to the NWO elitists. This dummy on the young turks is so blinded by his own liberal bias, he don't see the cart before the horse unfortunately. I think republicans to say if one of their own is not doing the job. It seems the libs are more close minded
I think you were saying Billion instead of Trillion. Its a little confusing to watch you say that and then try and crunch those numbers in your mind to make sense out of that!?!
@mtb416 I agree with thecellarlife about the amount the states (and Canada) could save/make if they legalized marijuana. It surpassed lumber as British Columbia's number one export. Not only that, hemp is over 600% more efficient when it comes to yield per acre. So not only do we have a lumber replacement that could save north america from deforestation, but the amount that could be made by taxing said transaction is GARGANTUAN!! THink about it...
Cenk, I love your show and I rarely give your clips a bad rating but you kept saying "billion" when you meant "trillion", dude, get your decimal point in the right spot, the math is confusing enough without the error - lol
who were the lobbyists and campaign funders during both terms Bush and Obama? Oh yeah all the same people. Polarizing the issue is not helping anything. The people who run the show are not elected and not named. There is only one party with two ugly heads
And that is JUST marijuana. You can call me on the numbers, but at best, I'm low-balling it. And I understand the ramifications of legalizing drugs, but this is just decriminalization. Imagine if they legalize pot everywhere? Instant revenue. Less crime.
If he had taken steps to decriminalize marijuana, and as well as state by state laws making it medically legal, we would have actually decreased the deficit. Take the tax laws in California and extend that to all states, you're looking at around 150-200 billion, if not more, in tax revenue. Not to mention the decriminalization part, which would take an economist to figure out how much we could save in our legal system. Our drug laws are breaking the bank. Not to mention our military budget.
Just don't know how conservatives seem to think that we need to cut taxes to pay off the deficit. What fucking sense deos that make? None. But thats their fucking solution to everything. How about changing some of our asanine laws on drugs, prostitution, gambling (e.t.c) How about not starting unconstitutional wars? Just saying...
way to go Obama. Way to make it impossible for anyone with more than a candy corn kernel for a brain to vote for you again you worthless piece of shit. YOu sell out!
FUCK YOU OBAMA. I'll be votiing for Grayson or Sanders or Ventura or Paul or whoever over a liar who only pretends to be different but is exactly what he accussed Hillary Clinton of being (i.e. Bush & Cheney Lite) for "fool me once cant get fooled again"
"by my analysis he is an excellent economist" and what exactly are your qualifications to judge economists other than watching fox and cnn all day? who is this guy
here we go with the nazi shit... don't you people realize that it's easier to rob someone when they're looking the opposite way? what I mean by that is if we fight eachother, our real enemy will sneak away with the fine china.....
Here is my idea: tax things that hurt the environment. A lot. Tissues? Tax em! Paper/plastic bags? TAX! Gasoline? TAX TAX TAX! Stimulus should be 60-80% directed towards clean energy, efficiency, reaserch on "green" energy, ect. Tax corporation profits a lot more, tax executive pay a lot. Serious cap-and-trade legislation, and cut military spending in half over 4 years by stopping wars and cutting waste. Cut all waste possible, and we should be running smoothly in a few decades.
Hemp used to be legal as late as WWII when farmers were encouraged to grow hemp plantations as material for military supplies. Big tobacco corporations didnt want the hemp industry pushing them out of business. Since these corporations were much bigger they had the power to lobby Congress and make it illegal. A preferred alternative would be to subsidize hemp so Big Tobacco can become Big Tobacco & Hemp.
is anyone aware that a deficit is not the same as a debt? debt is a rolling figure carried from year to year...deficit is on a year by year basis....you could make up the deficit in a few years by a massive tax hike during a prosperous economy and by a massive redux in govt spending...
its not going to take 100 years to pay this deficit off..
RAISE TAXES AND CUT GOVT SPENDING! its not rocket science...the problem is that people complain when youre not paying the debt..AND when youre paying it.
You sound like one of the people who aided and abetted this hole mess to begin with, now you want to bitch about how it gets fixed. Stop taking your orders from Mark Foley
The US did have a budget surplus at the end of the Clinton era. Using those projects, the first couple of GWB era budgets actually had the US eradicating its outstanding debt by now. Of course this was before wild tax cuts and the wars in Afghanistan and Iraq.
Also the deficient is simply the amount of income the government takes in minus the larger amount it spends. That years deficient is added onto the outstanding national debt which is currently $12 trillion.
he needs more support from the people. he can't get this shit passed if righties are out there yelling and screaming all day long and noone bothers to stand up to them and let them hear it
I don't believe he's lied YET. Has has done things that I disagree with, but he has not lied about anything up to this point. And he did get the stimulus bill passed like he said he was.
The stimulus is a joke. If you knew anything about economics, big government stimulus dont work. Japan tried it, Australia just had one and still nothing in the private sector. The strength of America is small business and entrepreneurship. And Obamas policies are killing it.
I was pointing out the fact that he had passed something on his agenda because u were asserting that he hadn't passed anything. It wasn't about if it was effective or not. BTW, every major economic adviser said there needed to be a stimulus they just disagreed on how much was needed and how to implement it
This comment has received too many negative votesshow
Who even gives a crap. Obama has already added/proposed spending that will increase our deficit more than Bush did in 8 years, and we're not even out of the 1st year yet, oh yeah, and what about Afghanistan?
Now he wants to add ObamaCare?
Make no mistake about it, it is 2,074+ pages of bad care, bureaucracy, waiting lines, and incredible amounts of spending of which we cannot afford.
Incessantly talking about Bush does nothing to solve the problem. Both have spent too much, and Obama is on an even worse track. I'm not being partisan, things are just getting worse.
If you're complaining about Bush spending I simply cannot understand how you could possibly support Obama/Pelosi and friends.
According to you, understanding the mistakes that were made by Bush does nothing to solve the problem? You go ahead and repeat history but leave me out of your alter paradox. If you will remeber correctly Herbert Hoover did not increase gov spending in the last recession and turned it into a depression. Obama's spending kept you from living in a contemporary Hooverville, or a Bushville. You should be thanking the democrats for not repeating history.
I said blaming Bush incessantly does not solve anything, no where did I say the pointing out of errors made by his Administration would not help us recover or make better decisions in the future.
Obama's spending has been irresponsible and mishandled. Again, I never said a stimulus was out of the question, but the Stimulus put forth by Obama has done little to nothing to contribute to job growth or retention. The Unemployment rate is higher than your Messiah says it is. You sound like a teen.
Historians and Economists alike STILL debate over what actually pulled us out of the Depression, or rather was got the recovery really going. I refuse to accept your assertion that Federal spending is the sole, or even main factor in the recovery from the Great Depression.
You think one man, or even one party, can be blamed entirely for our current economic turmoil?
Do some research on the Community Reinvestment Act, put forth by your Lilly-white Democrats.
While Researching the CRA, I came across the Gram-Leach-Bliley Act of 1999 (Republican Authors) which lead to the Mortgage Backed Securities Banks and Thrifts holding Mortgages could then bundle these together to trade on the open market. That was the proverbial can of worms that created this mess when Banks could so easily get rid of Mortgages, why not make a few bad ones, make the easy money and let someone else take the hit.
Take a look at AppleKnowsBest's comment. I can't verify the amount at this moment but I do believe we had a budget surplus at the end of the Clinton era (2000)
"A report last week from the Mortgage Bankers Association found that 14 percent of homeowners with mortgages were either behind on payments or in foreclosure at the end of September, a record level for the ninth straight quarter."
n the United States, Dubai World's portfolio includes several well-known properties, and the fallout could have a larger impact on the entire real estate market.
The company is a partner with casino operator MGM Mirage (MGM.N) in the $8.5 billion CityCenter project, which would add 6,000 rooms to a Las Vegas Strip gambling corridor already saturated with unoccupied hotel rooms.
Nakheel, perhaps best known as the developer of Dubai's palm-shaped islands, also carries the Mandarin Oriental and W hotels in New York in its portfolio, and has a 50 percent stake in the Fontainebleau Miami Beach resort.
And, through its Istithmar affiliate, Dubai World controls the upscale retailer Barneys New York Inc DBWLDB.UL.
The main threat to U.S. commercial property from Dubai World woes may be "potential for contagion," said Sam Chandan, chief economist at Real Estate Econometrics LLC in New York.
"WASHINGTON Osama bin Laden was unquestionably within reach of U.S. troops in the mountains of Tora Bora when American military leaders made the crucial and costly decision not to pursue the terrorist leader with massive force, a Senate report says."
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Tax cuts always seem to bring problems. Politicians never try to cut taxes responsibly. If you just come in saying to the average person, they're getting a tax cut, then you have to expect more money problems on the federal level, because a lot of people in favor of extreme cuts don't realize that without that money going into the fed govn't, the less money the govn't has to work with which often leads to borrowing from other countries to compensate.
I think we all picked up on that, but you know what.... I am gonna let him off. It wasn't as if I didn't get what he was saying, and I like the guy, he's funny.
Just apply the numbers to trillions, people. 1.2 billion=1.2 trillion in this case. APPLY. It's not like the numbers are off, he screwed up his times table. People are just looking for any excuse to not really hear what he is saying.
Billion? Really? HAHAHAHA, you're such an idiot. Once again, you've completely skewed the facts and shorted the deficit by a factor of 1000. Great job! Sort of like how your hero created jobs in districts that don't exist. Seriously, if you're going to make these claims, at least get your facts straight. Bush was a liberal spender and loved deficits, but revenue shortages and increased spending are only getting worse. Some day Obama and his sheep will have to accept their own mistakes.
About that, you're only half right. Deficit spending is also in the trillions, in fact is over 10% of the active national debt. Factor in liabilities debt (of nearly $100T) and the need for increased spending because of those liabilities and that unemployment keeps ticking up, and the deficit begins to grow as well. So let's add a government healthcare plan and if we say it won't add to the deficit, people will believe that's true. We're in trouble and more of the same isn't the answer!
My problem with Obama and his worshippers is that he was elected largely on the idea that he would end the wars in Iraq/Afghanistan. When he was elected, he essentially lied to all of his voters. Why should I trust anything he says?
@cba1067950 the accounting is done from september to september. A portion of the new deficit is Obama's and but the majority of it is Bush's. 8 years vs.4 months.
when bush's term started we had a budget surplus, but with less than a year of obama we now have a 1.6 trillion dollar debt, we have the worst economic recession since the great depression, we are the closest to a communist state we've ever been in our history, and the president has seized the power of dictatorship and believes he is a god. how can people still vote democrat after seeing results like this
@tehant1liberal people vote democrat to spite paranoid people like you. Bush expanded presidential power during his eight, Obama just feel into the expanded powers, and probably did expand them since he has been in office . Besides, what about the 2 wars we are fighting and the eight years Bush was in office?
I hate to break this to you, Cenk, but Obama's approval numbers are not doing well overall. They're in the toilet.
Rasmussen has his Presidential Approval Index Rating at -15, which is the difference between those who strongly approve of him (26%) minus those who strongly disapprove (41%). His overall job approval rating among likely voters is 45%, and that has been going down steadily since he took office in January.
Yes, I get the sense that Rasmussen is a little right of center (as evidenced by the conservative ads that are on their website). However, during the 2008 election, they were predicting an Obama landslide. In fact, the day before the election, they predicted the results almost exactly. I think that Rasmussen is probably a more accurate barometer of political opinion because they only poll likely voters, as opposed to most other polling firms that just ask adults in general.
Aside from the fact that he keeps saying "billion" instead of "trillion," the rest of these numbers are correct.
The reason Bush left office claiming a lower deficit was because he did not include the cost of the wars in Afghanistan and Iraq. These were emergency supplementals, and so not part of the "real" budget as far as he was concerned. It was dishonest.
When you include the cost of the wars, the deficit has not gone up that much under Obama, and most of that is due to tax cuts.
You know if you listened to Hannity you would know that the Magical Reagan by cutting taxes increased govt revenue and for some inespicable reason not too many jobs.
the truth is govt should be prepared to cut spending if they are to implement tax cuts. Tax cuts without govt spending cuts is always going to give deficits
1.2 BILLION is Bushes and we lost an additional 200 BILLION. How did this make it through your filter. Your a reasonable man, but it's clear from watching this video that you have a problem with numbers.
Usually you guys are fairly on the ball but confusing trillions and billions is a bit offputting. we're talking a factor of 1000 here so it's not a trivial error. If only the deficit was 1.2 Billion dollars. Are you kidding? That would be great.
At least you guys didn't blow up some billion dollar probe or something like NASA did over a rounding error.
See this is what I like about Cenk and Keith Olberman. They don't talk out of the back of their asses. They back their shit up with facts that are gleaned from professionals. Often times from professionals from the other side. Whereas that crying bitch of a man, Glenn Beck, just makes shit up. Good job Cenk, keep doing what you're doing, bringing good hot truth to the masses
like that stuff about van jones, that musta been made up, the video of the media "czar" praising chairman mao, the education czar's controversy with the 15 year old unreported rape case, the health czar who supports legal action rights for animals, i.e. an animal can sue someone.... yup glenn beck made all of those up.
And if you wanna bring rush limbaugh into this (as he is also right wing) if u took one look at his site, or listened to his show, u would know that he sources + cites EVERYTHING
the recession would have happened even if mccain won....the war would still be going on...we would have been in the exact same spot we are now...
conservatives would rather say NO and fan the flames of hatred than read books or fact check...if the subject is against their personal beliefs or they dont understand the topic they just say "no"....or they regurgitate what fucks news tells them...
Liberals and Republicans should be for more taxes if they actually want efficient government so we can pay of the national debt and move on. I'm frankly tired of this BS and people whining about national debt but don't want to sacrifice to fix it.
"In total, the state-backed networks nicknamed Dubai Inc. are $80 billion in the red ...
Markets took the news badly — with the Dubai woes and the continued fall of the U.S. dollar giving investors twin worries. Dubai's move raised concerns about debt across the Gulf Region. Prices to insure debt from Abu Dhabi, Qatar, Saudi Arabia and Bahrain all rose by double-digit percentages Thursday, according to data from CMA DataVision."
lmfao @ comments. Fucking sick vultures... welcome to America, where people would rather shit on you the first chance they get than show some fucking chivalry and dignity... Comments below will prove that.... Have fun reading!
This is an outstanding story with good supporting statistics, which probably required some solid research to verify.
Unfortunately, you pulled a giant Palin!!! By mixing up trillions and billions, you undermine your credibility and that of your message, and now your critics can respond effectively by just pointing and laughing. You're too good to let this happen!! (If there isn't anybody competent enough to help on the other end of your ear-phones - take them out.)
Deficit? But the government should not own anything. By saying our country is in a deficit is saying that something which should not own something, has spent something, which it does not own. The only way it can pay for this is by taking away from the citizens. Higher taxes lead to surpluses. Is this a good thing? Not necessarily. It's less money for the citizens to have. Ideally you want a system close to a break even with minimal inflation.
byouno93 3 weeks ago
@byouno93 That is absolutely retarded. Everything can own assets. The government owns gold. Every piece of military hardware is an asset with value. The national parks are stewarded by the government. That is an asset. This Mises/Paul nonsense is a completely dysfunctional world view.
quinndiesel1977 3 weeks ago
@quinndiesel1977 Dysfunctional? It's only logic and basic economics. Scarce resources are why everything has a cost. By giving the government more, you are leaving the citizen with less and less. It only appears "dysfunctional" to some because they've been jaded into believing into a deteriorating system that's been in place for their entire lives. I could name countless reasons why our current system has no hope but I only have some 10 characters remaining.
byouno93 3 weeks ago
Yes. Less revenue is what you initially get when you cut taxes. But eventually, you increase revenue as the tax cuts help businesses create more jobs. And you can't completely count out spending. If you are making less money than you are spending, then you still need to control spending. Example: A dual-income family has one member lose their job. They continue spending like they are dual-income. What do you think will happen? You can't spend money that you predict you will have.
SgtLeroy2609 1 year ago
not sure if anyone mentioned this, but you are confusing billions and trillions. Don't worry, its only a factor of 1000.
quinndiesel1977 1 year ago
Bush the liberal? You have got to drunk, or suffering from asphyxiation? Or perhaps you just have no fucking clue what it means to be "liberal" or "conservative." Maybe you should ask Rush, or Conservapedia.
quinndiesel1977 1 year ago
@quinndiesel1977 TARP was a very liberal bill that had serious consequences in 2008. Bush warmongered his way in the middle east and put into effect the terrible Patriot act. Obama however still has the troops abroad and is proposing even more infringing acts. Question is, "how do you define 'liberal'?"
byouno93 3 weeks ago
@byouno93 A very "liberal" bill? What does that even mean? It had bipartisan support. TARP had serious consequences, many of them good. "Obama still has troops abroad..." of course he does. Did you think he was going to throw unicorn sprinkles on the first day and wisp them all home like Peter Pan?
quinndiesel1977 3 weeks ago
@quinndiesel1977 Sorry I had to shorten my comment, ran out of room. Liberal in today's worldview. It's a Keynesian type bill. Government intervention, spending for the sake of economic protection is most definitely part of the liberal ideology. The consequences were bad, it is one reason why the deficit is so bad.
And yes. Just bring them home. Simple shit.
byouno93 3 weeks ago
yes, the 2nd Bush was the shits too. He was basically a liberal in sheep's clothing. That doesn't make Obama right. Obama is taking over where Bush the liberal left off. Of course many of us already know that the presidents are just puppets to the NWO elitists. This dummy on the young turks is so blinded by his own liberal bias, he don't see the cart before the horse unfortunately. I think republicans to say if one of their own is not doing the job. It seems the libs are more close minded
Imakecents 1 year ago
its sad how rebublicans visit obama vids just to hate on them. God they are upsest get a damn life
TheKatyLady1 1 year ago
Does he mean Billion or Trillion??
Maikkeru 1 year ago
I think you were saying Billion instead of Trillion. Its a little confusing to watch you say that and then try and crunch those numbers in your mind to make sense out of that!?!
kaboothi 1 year ago 2
@mtb416 I agree with thecellarlife about the amount the states (and Canada) could save/make if they legalized marijuana. It surpassed lumber as British Columbia's number one export. Not only that, hemp is over 600% more efficient when it comes to yield per acre. So not only do we have a lumber replacement that could save north america from deforestation, but the amount that could be made by taxing said transaction is GARGANTUAN!! THink about it...
AlexDaDojoDude 1 year ago
Cenk, I love your show and I rarely give your clips a bad rating but you kept saying "billion" when you meant "trillion", dude, get your decimal point in the right spot, the math is confusing enough without the error - lol
richardmacgurn 1 year ago
@richardmacgurn Cenk was talking DEFICIT, not DEBT. that might explain the discrepancy.
Marine4Life51 1 year ago
who were the lobbyists and campaign funders during both terms Bush and Obama? Oh yeah all the same people. Polarizing the issue is not helping anything. The people who run the show are not elected and not named. There is only one party with two ugly heads
joedk325 2 years ago 3
It was Trillions in the beginning. Cenk was accidentally was saying billion. ie 1.2 trillion, not billion.. and 1.4 trillion.
Started messing up billions and trillions around 4:00 again.
EeJLP 2 years ago 5
And that is JUST marijuana. You can call me on the numbers, but at best, I'm low-balling it. And I understand the ramifications of legalizing drugs, but this is just decriminalization. Imagine if they legalize pot everywhere? Instant revenue. Less crime.
thecellarlife 2 years ago 4
If he had taken steps to decriminalize marijuana, and as well as state by state laws making it medically legal, we would have actually decreased the deficit. Take the tax laws in California and extend that to all states, you're looking at around 150-200 billion, if not more, in tax revenue. Not to mention the decriminalization part, which would take an economist to figure out how much we could save in our legal system. Our drug laws are breaking the bank. Not to mention our military budget.
thecellarlife 2 years ago
150-200 billion from marijuana? Only in your dreams.
mtb416 2 years ago
Just don't know how conservatives seem to think that we need to cut taxes to pay off the deficit. What fucking sense deos that make? None. But thats their fucking solution to everything. How about changing some of our asanine laws on drugs, prostitution, gambling (e.t.c) How about not starting unconstitutional wars? Just saying...
melowar78 2 years ago 3
Why have congress crunch numbers too big for them when we can have NASA do that? I admit, NASA gets the shaft a lot by Congress.
ccricers 2 years ago
Wow, that was really hard to listen to with all the mix-ups between million billion and trillion!
WittyPsuedonym 2 years ago 2
How many times did Cenk say billion when he should have said trillion? I lost count.
terrence0258 2 years ago 2
Cenk, you never once said "Trillion" when describing the deficit. The Deficit is not 1.3 Billion. How could you slip up that many times.
TehNarrator 2 years ago 2
Yeah I'm a little confused lol
LoryLandskipper 2 years ago
He's talking about the yearly budget deficit.
Budget Deficit = Yearly shortfall; National Debt = Total of all yearly budget deficits and surpluses
ey902 2 years ago 2
way to go Obama. Way to make it impossible for anyone with more than a candy corn kernel for a brain to vote for you again you worthless piece of shit. YOu sell out!
FUCK YOU OBAMA. I'll be votiing for Grayson or Sanders or Ventura or Paul or whoever over a liar who only pretends to be different but is exactly what he accussed Hillary Clinton of being (i.e. Bush & Cheney Lite) for "fool me once cant get fooled again"
HulkSmashPunyHumans 2 years ago
"by my analysis he is an excellent economist" and what exactly are your qualifications to judge economists other than watching fox and cnn all day? who is this guy
nephew455 2 years ago
here we go with the nazi shit... don't you people realize that it's easier to rob someone when they're looking the opposite way? what I mean by that is if we fight eachother, our real enemy will sneak away with the fine china.....
odom602 2 years ago
Here is my idea: tax things that hurt the environment. A lot. Tissues? Tax em! Paper/plastic bags? TAX! Gasoline? TAX TAX TAX! Stimulus should be 60-80% directed towards clean energy, efficiency, reaserch on "green" energy, ect. Tax corporation profits a lot more, tax executive pay a lot. Serious cap-and-trade legislation, and cut military spending in half over 4 years by stopping wars and cutting waste. Cut all waste possible, and we should be running smoothly in a few decades.
thetotalvidwatcher 2 years ago 2
end the war and enact health care reform (not the same as universal health care) and audit the government books..that will cut govt spending...
legalize marijuana, tax it, along with concert tickets, cable tv/internet and other expensive luxury items...
boom, youre in the black in a couple years.
gofudgeyourselfx 2 years ago 2
Couple years?
You would effectively cripple the very industries that are already struggling. Unless you're looking to increase unemployment.
mtb416 2 years ago
Hemp used to be legal as late as WWII when farmers were encouraged to grow hemp plantations as material for military supplies. Big tobacco corporations didnt want the hemp industry pushing them out of business. Since these corporations were much bigger they had the power to lobby Congress and make it illegal. A preferred alternative would be to subsidize hemp so Big Tobacco can become Big Tobacco & Hemp.
ccricers 2 years ago
is anyone aware that a deficit is not the same as a debt? debt is a rolling figure carried from year to year...deficit is on a year by year basis....you could make up the deficit in a few years by a massive tax hike during a prosperous economy and by a massive redux in govt spending...
its not going to take 100 years to pay this deficit off..
RAISE TAXES AND CUT GOVT SPENDING! its not rocket science...the problem is that people complain when youre not paying the debt..AND when youre paying it.
gofudgeyourselfx 2 years ago 2
Hey did any of you guys decide to actually argue on pm. Because you all sound like idiots.
Kilsburydohboy 2 years ago
This comment has received too many negative votes show
You sound like a paid fooled. Who pays you? Pelosi, Ayers, or ACORN? haha
mtb416 2 years ago
You sound like one of the people who aided and abetted this hole mess to begin with, now you want to bitch about how it gets fixed. Stop taking your orders from Mark Foley
snowbaordguru 2 years ago
This is draconian
Bush made it legal to spy on you w/o a warrant thanks to the powers in the Patriot Act. Look like your an example of why he did that...terrorist.
I find it amazing how many stupid people are still representing the aryans, we kicked your ass in WW2, get over it and move on.
snowbaordguru 2 years ago 3
That's right, stay proud to be black, brother.
bototheone1 2 years ago
Was that in reference to me Bototheone1? I'm white. lol
snowbaordguru 2 years ago
I think you confused your billions with your millions a couple times there.
brendan476 2 years ago 2
The US did have a budget surplus at the end of the Clinton era. Using those projects, the first couple of GWB era budgets actually had the US eradicating its outstanding debt by now. Of course this was before wild tax cuts and the wars in Afghanistan and Iraq.
Also the deficient is simply the amount of income the government takes in minus the larger amount it spends. That years deficient is added onto the outstanding national debt which is currently $12 trillion.
powersixsixsix 2 years ago
Um our deficit is in the tens of trillions. What is Cenk talking about?
iluvwine13 2 years ago 2
You're thinking about the national debt. Debt and deficit are two different things. He's talking about deficit.
VirginiaJones1 2 years ago 2
republican don't do math
pilosop0tacio 2 years ago
TRILLION NOT BILLION CENK
1000x too little ^_^
micahgee 2 years ago 2
billion? Do you mean trillion???
YuanMizzle 2 years ago
Obama is the black GWB. Hasnt done shit except lie. Even Michael Moore is ripping him on health care.
ryno99 2 years ago
he needs more support from the people. he can't get this shit passed if righties are out there yelling and screaming all day long and noone bothers to stand up to them and let them hear it
normalais 2 years ago 16
I don't believe he's lied YET. Has has done things that I disagree with, but he has not lied about anything up to this point. And he did get the stimulus bill passed like he said he was.
gogosox82 2 years ago
The stimulus is a joke. If you knew anything about economics, big government stimulus dont work. Japan tried it, Australia just had one and still nothing in the private sector. The strength of America is small business and entrepreneurship. And Obamas policies are killing it.
ryno99 2 years ago
Capitalism is a joke
snakeweirdo 2 years ago 2
I was pointing out the fact that he had passed something on his agenda because u were asserting that he hadn't passed anything. It wasn't about if it was effective or not. BTW, every major economic adviser said there needed to be a stimulus they just disagreed on how much was needed and how to implement it
gogosox82 2 years ago
So in 11 months Pres. Obamas policies are killing America?
It couldn't have been the Rynos policies of the last 8 years...nah, that can't be it.
Two wars that weren't paid for which are not part of the current defiict, and it's Obamas fault....?
snowbaordguru 2 years ago 3
This comment has received too many negative votes show
Who even gives a crap. Obama has already added/proposed spending that will increase our deficit more than Bush did in 8 years, and we're not even out of the 1st year yet, oh yeah, and what about Afghanistan?
Now he wants to add ObamaCare?
Make no mistake about it, it is 2,074+ pages of bad care, bureaucracy, waiting lines, and incredible amounts of spending of which we cannot afford.
We're in the fucking Twilight Zone.
mtb416 2 years ago
No, you're in the twilight zone. Welcome to place I was for the last 8 years.
What about Afghanistan? Not much to do there now that Bush let Osama run free now is there.
Were you bitching about the Iraq and Afghan wars not being paid for? Which is unprecidented that a war be conducted but not be paid for.
snowbaordguru 2 years ago
Incessantly talking about Bush does nothing to solve the problem. Both have spent too much, and Obama is on an even worse track. I'm not being partisan, things are just getting worse.
If you're complaining about Bush spending I simply cannot understand how you could possibly support Obama/Pelosi and friends.
mtb416 2 years ago
According to you, understanding the mistakes that were made by Bush does nothing to solve the problem? You go ahead and repeat history but leave me out of your alter paradox. If you will remeber correctly Herbert Hoover did not increase gov spending in the last recession and turned it into a depression. Obama's spending kept you from living in a contemporary Hooverville, or a Bushville. You should be thanking the democrats for not repeating history.
snowbaordguru 2 years ago
I said blaming Bush incessantly does not solve anything, no where did I say the pointing out of errors made by his Administration would not help us recover or make better decisions in the future.
Obama's spending has been irresponsible and mishandled. Again, I never said a stimulus was out of the question, but the Stimulus put forth by Obama has done little to nothing to contribute to job growth or retention. The Unemployment rate is higher than your Messiah says it is. You sound like a teen.
mtb416 2 years ago
The unemployment rate rose by 0.4 percentage point to 10.2 percent in October.
Since the start of the recession in
December 2007, the number of unemployed persons has risen by 8.2 million,
and the unemployment rate has grown by 5.3 percentage points.
-Bureau of Labor Statistics
snowbaordguru 2 years ago
Historians and Economists alike STILL debate over what actually pulled us out of the Depression, or rather was got the recovery really going. I refuse to accept your assertion that Federal spending is the sole, or even main factor in the recovery from the Great Depression.
You think one man, or even one party, can be blamed entirely for our current economic turmoil?
Do some research on the Community Reinvestment Act, put forth by your Lilly-white Democrats.
mtb416 2 years ago
While Researching the CRA, I came across the Gram-Leach-Bliley Act of 1999 (Republican Authors) which lead to the Mortgage Backed Securities Banks and Thrifts holding Mortgages could then bundle these together to trade on the open market. That was the proverbial can of worms that created this mess when Banks could so easily get rid of Mortgages, why not make a few bad ones, make the easy money and let someone else take the hit.
snowbaordguru 2 years ago
Did you learn Econ from home schooling? or the Kenyesian theory of Econ, you know what Macro and Micro Econ studies are based on.
snowbaordguru 2 years ago
Billion on Trillion?
Kapritchosa 2 years ago 2
Reported killed in the Russian train bombing at Uglovka:
Boris Yevstratikov, the head of Russia's Federal Reserve Agency.
mopsius 2 years ago
The only complaint I have is that you pinned the 1.2 billion on Bush. What was the number before him? (out of curiousity)
daguy1234 2 years ago
lets say it like this..
the sign on wallstreet had to be rebuild to add a couple a zero's during bush ;)
dont know actually, but hey..
i felt like beeing subjective for once :)
DownLowProductions 2 years ago
before bush clinton had a surplus of $559 billion
AppleKnowsBest 2 years ago 19
@AppleKnowsBest I am pretty sure that that was a budget surplus, not an actual one. I could be wrong though....
BenTheMagnifice 1 year ago
@BenTheMagnifice thats what i said a surplus of 559 billion in the budget
AppleKnowsBest 1 year ago
@AppleKnowsBest Ok, that is fine it it what you meant, just so long as you recognize that he didn't have $559bn sitting around...
BenTheMagnifice 1 year ago
@AppleKnowsBest Yes he did, with a Republican Congress.
salt27dogg 1 year ago
@AppleKnowsBest A surplus in the budget, but an increase in the debt.
That's like saying "Oh, my bank account is in the green, but my credit cards are all maxed out"
Lukeor 8 months ago
Take a look at AppleKnowsBest's comment. I can't verify the amount at this moment but I do believe we had a budget surplus at the end of the Clinton era (2000)
Wnunyuie 2 years ago
Clinton had a surplus when he left the office.
gojewla 2 years ago 2
"A report last week from the Mortgage Bankers Association found that 14 percent of homeowners with mortgages were either behind on payments or in foreclosure at the end of September, a record level for the ninth straight quarter."
AP
mopsius 2 years ago
n the United States, Dubai World's portfolio includes several well-known properties, and the fallout could have a larger impact on the entire real estate market.
The company is a partner with casino operator MGM Mirage (MGM.N) in the $8.5 billion CityCenter project, which would add 6,000 rooms to a Las Vegas Strip gambling corridor already saturated with unoccupied hotel rooms.
Reuters
mopsius 2 years ago
Nakheel, perhaps best known as the developer of Dubai's palm-shaped islands, also carries the Mandarin Oriental and W hotels in New York in its portfolio, and has a 50 percent stake in the Fontainebleau Miami Beach resort.
ibid
mopsius 2 years ago
And, through its Istithmar affiliate, Dubai World controls the upscale retailer Barneys New York Inc DBWLDB.UL.
The main threat to U.S. commercial property from Dubai World woes may be "potential for contagion," said Sam Chandan, chief economist at Real Estate Econometrics LLC in New York.
ibid
mopsius 2 years ago
"WASHINGTON Osama bin Laden was unquestionably within reach of U.S. troops in the mountains of Tora Bora when American military leaders made the crucial and costly decision not to pursue the terrorist leader with massive force, a Senate report says."
AP
This was widely known at the time.
mopsius 2 years ago
Just not widely publicized.
mopsius 2 years ago
The old Taliban also offered to turn over "Bin Ladin" if he was charged by the US.
mopsius 2 years ago
This has been flagged as spam show
killa948 2 years ago
That's a good reasoning
thaibuddhaamulet 2 years ago
Tax cuts always seem to bring problems. Politicians never try to cut taxes responsibly. If you just come in saying to the average person, they're getting a tax cut, then you have to expect more money problems on the federal level, because a lot of people in favor of extreme cuts don't realize that without that money going into the fed govn't, the less money the govn't has to work with which often leads to borrowing from other countries to compensate.
dakoneko 2 years ago
Tens of millions of USA conservatives defend and support President Obama; why mention only one?
Desertphile 2 years ago
@Desertphile
That's simple. Because the shrill take back the country at any and all costs ones like Beck, Hannity, Limbaugh, Rove and Palin drown them out.
Painkill3r4 2 years ago
He means trillion
SatwaMan 2 years ago 2
You need to change a lot of those 'Billions' you said into 'Trillions', btw... 1.2 TRillion. Not Billion there.
Valendros 2 years ago
Yeah... Poor confuzzled Cenk D:
cheezbawl2003 2 years ago
Isn't that the debt? Not the deficit?
JackWhistle 2 years ago
you wanna keep saying billion where the word trillion is need. cool alright fine....... *rolls eyes*
falconfira 2 years ago
google bruce bartlett obama deficit blog
sharpaudio 2 years ago
even better: bruce bartlett 2009 deficit blog
sharpaudio 2 years ago
Internal Server Error
The server encountered an internal error or misconfiguration and was unable to complete your request.
Is there a specific link or site? I certainly appreciated the help though. I was just about to listen again to catch the guy's name!
mrethrift 2 years ago
Comment removed
sharpaudio 2 years ago
I think we all picked up on that, but you know what.... I am gonna let him off. It wasn't as if I didn't get what he was saying, and I like the guy, he's funny.
sniper120mm 2 years ago
He's like "hey guys, I'M GONNA THROW SOME NUMBERS AT YOU GUYS, GET READY!!!! OUR DEFICIT IS ONLY 1.2 BILLION!!!!!! AWESOME!!!!"""
bigjstokes 2 years ago
wow due gonna lose his Con card. Making sense and stating facts...he def gonna lose his card
ccm800 2 years ago
I love you Cenk, but I think you meant trillions instead of billions...
intoximacated 2 years ago 5
heard that
bigjstokes 2 years ago
Ah, I was a little lost. I thought he meant trillions, but since I'm just a foreigner I wasn't really sure.
It doesn't really matter all that much in this case though.
MrDweomer 2 years ago
Just apply the numbers to trillions, people. 1.2 billion=1.2 trillion in this case. APPLY. It's not like the numbers are off, he screwed up his times table. People are just looking for any excuse to not really hear what he is saying.
DeeSee25 2 years ago 4
arghhhh.. idk why, but it irritates me everytime cenk confuses trillions for billions...
elnegrobembon 2 years ago
Must be a little dyslexic.
mrethrift 2 years ago
Billion? Really? HAHAHAHA, you're such an idiot. Once again, you've completely skewed the facts and shorted the deficit by a factor of 1000. Great job! Sort of like how your hero created jobs in districts that don't exist. Seriously, if you're going to make these claims, at least get your facts straight. Bush was a liberal spender and loved deficits, but revenue shortages and increased spending are only getting worse. Some day Obama and his sheep will have to accept their own mistakes.
plntlg 2 years ago
hey math genius you're mixing billion and trillion throughout this video
murderousrage 2 years ago 2
Fiscal deficit is billions, national debt is trillions.
clevy911 2 years ago 2
About that, you're only half right. Deficit spending is also in the trillions, in fact is over 10% of the active national debt. Factor in liabilities debt (of nearly $100T) and the need for increased spending because of those liabilities and that unemployment keeps ticking up, and the deficit begins to grow as well. So let's add a government healthcare plan and if we say it won't add to the deficit, people will believe that's true. We're in trouble and more of the same isn't the answer!
plntlg 2 years ago
Trillion not billion....oh Cenk. Great report no the less!
msnewsjunky 2 years ago
My problem with Obama and his worshippers is that he was elected largely on the idea that he would end the wars in Iraq/Afghanistan. When he was elected, he essentially lied to all of his voters. Why should I trust anything he says?
evane1989 2 years ago
Obama early opposed the war in Iraq when it was not popular. Not exiting as quickly as possible is a change in position.
Sorrily, his idea was to transfer the focus to Aghanistan--that also early.
On both points it is lunacy, and a continuation of Bush.
The exaplanation is fairly simple--the Neo-"Cons" are only half the story.
Is communication by punctuation marks too subtle for you, evane1989?
mopsius 2 years ago
@mopsius
Obama(aka: Obabo) is indeed a continuation of Bush.
evane1989 2 years ago
Bush Lite so far. Can't deny that.
mopsius 2 years ago
@cba1067950 the accounting is done from september to september. A portion of the new deficit is Obama's and but the majority of it is Bush's. 8 years vs.4 months.
napwashereagain 2 years ago 4
Excellent reporting there Cenk.
BrightWave 2 years ago
when bush's term started we had a budget surplus, but with less than a year of obama we now have a 1.6 trillion dollar debt, we have the worst economic recession since the great depression, we are the closest to a communist state we've ever been in our history, and the president has seized the power of dictatorship and believes he is a god. how can people still vote democrat after seeing results like this
tehant1liberal 2 years ago
@tehant1liberal people vote democrat to spite paranoid people like you. Bush expanded presidential power during his eight, Obama just feel into the expanded powers, and probably did expand them since he has been in office . Besides, what about the 2 wars we are fighting and the eight years Bush was in office?
napwashereagain 2 years ago 3
Trillion and Billion ???
EMPERORMIKI 2 years ago
If Health care passes and the unemployment goes down nobody will care about this and Obama will be re-elected.
lmcdowall 2 years ago 3
If anything like the House passes it will be a total economic disaster.
mopsius 2 years ago
I hate to break this to you, Cenk, but Obama's approval numbers are not doing well overall. They're in the toilet.
Rasmussen has his Presidential Approval Index Rating at -15, which is the difference between those who strongly approve of him (26%) minus those who strongly disapprove (41%). His overall job approval rating among likely voters is 45%, and that has been going down steadily since he took office in January.
Steve197201 2 years ago
Obama's numbers are down but those stats are skewed a bit. Plus Rasmussen seems to always have slightly more conservative outcome with thier polls.
lmcdowall 2 years ago
lmcdowall,
Yes, I get the sense that Rasmussen is a little right of center (as evidenced by the conservative ads that are on their website). However, during the 2008 election, they were predicting an Obama landslide. In fact, the day before the election, they predicted the results almost exactly. I think that Rasmussen is probably a more accurate barometer of political opinion because they only poll likely voters, as opposed to most other polling firms that just ask adults in general.
Steve197201 2 years ago
Just pointing out that Obama's numbers are not as bad as that poll might say.
lmcdowall 2 years ago 4
The math here doesn't quite make sense. Did he say 'billion' when he meant 'million' or vice versa?
zigglestein217 2 years ago 2
Aside from the fact that he keeps saying "billion" instead of "trillion," the rest of these numbers are correct.
The reason Bush left office claiming a lower deficit was because he did not include the cost of the wars in Afghanistan and Iraq. These were emergency supplementals, and so not part of the "real" budget as far as he was concerned. It was dishonest.
When you include the cost of the wars, the deficit has not gone up that much under Obama, and most of that is due to tax cuts.
revelwoodie 2 years ago
Bush did not also include the collapse of USD in August 2008 that his administration engineered.
Nor the economic catastrophe wrought by rising oil prices.
His US oil buddies did fine naturally.
mopsius 2 years ago
Bush and Cheney blew trillions that are still not accounted for.
They should be prosecuted for war crimes, yes--but also for Grand Theft Government.
mopsius 2 years ago 2
You know if you listened to Hannity you would know that the Magical Reagan by cutting taxes increased govt revenue and for some inespicable reason not too many jobs.
the truth is govt should be prepared to cut spending if they are to implement tax cuts. Tax cuts without govt spending cuts is always going to give deficits
uche007us 2 years ago
1.2 BILLION is Bushes and we lost an additional 200 BILLION. How did this make it through your filter. Your a reasonable man, but it's clear from watching this video that you have a problem with numbers.
HumanMan1234 2 years ago
It should be 1.2 trillion.
liberationn15 2 years ago
You got all the numbers wrong. You kept saying million instead of billion, and billion instead of trillion.
HumanMan1234 2 years ago
is trillion even mentioned once in this video...
kevV85 2 years ago
I was looking for it too.
Cenk is not a numbers man.
And he would not know what a good economist is or is not from a hole in the ground.
mopsius 2 years ago
Britain only began to US billions and trillions recently.
mopsius 2 years ago
Dude, what's going on with the trillion/billion/million situation in this clip? This is like some weird neuropsychology test.
fielsjd 2 years ago 2
Usually you guys are fairly on the ball but confusing trillions and billions is a bit offputting. we're talking a factor of 1000 here so it's not a trivial error. If only the deficit was 1.2 Billion dollars. Are you kidding? That would be great.
At least you guys didn't blow up some billion dollar probe or something like NASA did over a rounding error.
OrbisFerrum 2 years ago
Exactly--cenk is actually an economic naif.
mopsius 2 years ago
See this is what I like about Cenk and Keith Olberman. They don't talk out of the back of their asses. They back their shit up with facts that are gleaned from professionals. Often times from professionals from the other side. Whereas that crying bitch of a man, Glenn Beck, just makes shit up. Good job Cenk, keep doing what you're doing, bringing good hot truth to the masses
AbuAmirah 2 years ago 3
That has to be one of the most ignorant comments I've ever read on the internet. Congratulations.
houstonrockets616 2 years ago
Yeah, but I got a plus 2. What have you gotten so far bitch? .!. (that's me tossing you the bird :) )
AbuAmirah 2 years ago
like that stuff about van jones, that musta been made up, the video of the media "czar" praising chairman mao, the education czar's controversy with the 15 year old unreported rape case, the health czar who supports legal action rights for animals, i.e. an animal can sue someone.... yup glenn beck made all of those up.
And if you wanna bring rush limbaugh into this (as he is also right wing) if u took one look at his site, or listened to his show, u would know that he sources + cites EVERYTHING
ChimeranTerminator 2 years ago
gb oligarhy board references
pro nazi clerics agenda in 1930´ties
, Deutsche Christen.
Realizalize 2 years ago
What about projections for tthe next three years.
bornbillsmith 2 years ago
the recession would have happened even if mccain won....the war would still be going on...we would have been in the exact same spot we are now...
conservatives would rather say NO and fan the flames of hatred than read books or fact check...if the subject is against their personal beliefs or they dont understand the topic they just say "no"....or they regurgitate what fucks news tells them...
TY TYT for sticking it to the imbeciles!
gofudgeyourselfx 2 years ago
The recession was already picking up in 2005, concealed by various doctored figures.
It is much worse than a recession now.
mopsius 2 years ago
cutting taxes means "taxing future generations" unless you also cut spending.
stefminus 2 years ago 2
Higher Taxes = lower deficit.
Lower Taxes = higher deficit.
Liberals and Republicans should be for more taxes if they actually want efficient government so we can pay of the national debt and move on. I'm frankly tired of this BS and people whining about national debt but don't want to sacrifice to fix it.
blasphimus 2 years ago 4
exactly! totally true
colonshaguar 2 years ago 2
Conservatives don't want an efficient government. They like having something important to bitch about.
ponyboy316 2 years ago 3
Actually the Right Wing Terrorists mosty rape and pillage, murder, and steal.
mopsius 2 years ago
Yup, and it's a thankless job!
StinkingHombre 2 years ago
Jeje.
mopsius 2 years ago
Jeje.
StinkingHombre 2 years ago
Si, senor--jeje.
mopsius 2 years ago
Jeje - es bueno
StinkingHombre 2 years ago
they don't want to sacrifice for something they didn't break
?
RayAtheist 2 years ago
"In total, the state-backed networks nicknamed Dubai Inc. are $80 billion in the red ...
Markets took the news badly — with the Dubai woes and the continued fall of the U.S. dollar giving investors twin worries. Dubai's move raised concerns about debt across the Gulf Region. Prices to insure debt from Abu Dhabi, Qatar, Saudi Arabia and Bahrain all rose by double-digit percentages Thursday, according to data from CMA DataVision."
AP
mopsius 2 years ago
Wow, kudos for citing a quote. I see so little healthy debate these days.
randompersonB 2 years ago
Singular, dual, or plural--in your miseducated, arrogant "mind", randompersonB--such as it is?
mopsius 2 years ago
Ye know, I think we're speaking on different levels.
randompersonB 2 years ago
"We", randompersonB?
mopsius 2 years ago
I don't care what you have to say....
lmcdowall 2 years ago
Fair enough, Imcdowall. Have a nice day.
mopsius 2 years ago
Cenk was saying billions at times when i think he meant trillions.
slackologist 2 years ago 2
lmfao @ comments. Fucking sick vultures... welcome to America, where people would rather shit on you the first chance they get than show some fucking chivalry and dignity... Comments below will prove that.... Have fun reading!
blahface420 2 years ago 2
how many times should I say this. They are republicans, they don't do facts
jopaddy81 2 years ago
Epic fail by Cenk.
Still anyone with half a brain would be able to understand what he really meant.
HasanSIM14 2 years ago
What happened to the 9 trillion?
TheJawsusNSexmanShow 2 years ago
Thats total projected.... Or I could be wrong I am wired...
CmdrTobs 2 years ago
Come on, Cenk!!!!!
This is an outstanding story with good supporting statistics, which probably required some solid research to verify.
Unfortunately, you pulled a giant Palin!!! By mixing up trillions and billions, you undermine your credibility and that of your message, and now your critics can respond effectively by just pointing and laughing. You're too good to let this happen!! (If there isn't anybody competent enough to help on the other end of your ear-phones - take them out.)
rmzwack 2 years ago
I agree, except for the blame the person at the other end of the ear-phones part. I think the worst mistake is to put that up on youtube.
Franco187 2 years ago