From the linked article...

Two of those three things -- the wars and tax cuts -- were in effect from 2003 through 2007. Do you see alarming deficits or trends from 2003 through 2007 in the above chart? No. In fact, the trend through 2007 is shrinking deficits. What you see is a significant upward tick in 2008, and then an explosion in 2009. Now, what might have happened between 2007 and 2008, and then 2009?

Democrats taking over both houses of Congress, and then the presidency, was what happened. Republicans wrote the budgets for the fiscal years through 2007. Congressional Democrats wrote the budgets for FY 2008 and on. When the Democrats also took over the White House, they immediately passed an $814-billion "stimulus." (The $814 billion figure is from the same CBO report as the Iraq War costs. See sources at end of article.)

BTW, went shopping this weekend - the large can of coffee that was $6.98 is now up over $10. Probably a seasonal variation, though I don't recall there being quite so much of a difference in a long time.

Not that the two events are connected, of course...

Mission Accomplished

August 19, 2010
Source: Halliburton

Halliburton (NYSE: HAL) has been awarded a letter of intent by Shell Iraq Petroleum Development B.V. (NYSE:RDS-A, NYSE:RDS-B) for the development of the Majnoon field in Southern Iraq.

The giant Majnoon field is one of the world's largest oil fields. The letter of intent provides that Halliburton will serve as project manager for the development work, in affiliation with Nabors Drilling (NYSE:NBR) and Iraq Drilling Company (IDC). The contract is still subject to final approval by the appropriate Iraqi authorities.

. . .

http://www.pennenergy.com/index/petroleum/display/2734613902/articles/pennenergy/petroleum/exploration/2010/08/halliburton-snags.html

Common error, but it's "pique." Nice graph. AB = idiot of the day.

So Halliburton, which can (among other things) do oil-field work and act as a project manager is to (if the letter of intent actually becomes a contract) oversee the developement of an oil field?

Well, isn't THAT a surprise! Glad to see the $3 trillion in deficit spending by Obama had a good effect!

Note, if you will, that there's no guarantee that the oil will be sold or taken by the US.

You know, we must be the most inept conquerers in history. We go in, blow a country apart - and then we pay good money to REBUILD them instead of ripping off everything of any value! How dumb can we be! We should at LEAST have gotten a 50-year first share of any and all oil developed... but noooooo, we're actually paying MARKET PRICE for the shit!

God, we're inept... Gengis Khan must be rolling in his grave. THERE was a guy who knew how to sack and pillage a country! And screw the rebuilding!

Fixed JB... thanks...

Shorter AB: Look, a squirrel!!

Ab valiantly tries to divert attention from he train wreck. Unlike the other trolls, who are conspicuous by their absence, at least AB tried to do something to take attention away from the emperor's new clothes.

Boy thats a lot of commie red since 2008.

#3 posted by Adrian- The proper start to your rant should have been "miss me yet".

"Halliburton (NYSE: HAL) has been awarded a letter of intent by Shell Iraq Petroleum Development B.V. (NYSE:RDS-A, NYSE:RDS-B) for the development of the Majnoon field in Southern Iraq."

Is your point that big oil is the motive behind the gulf war perhaps? Or is it free enterprise that bothers you so much Adrion?

Dont worry. If Barry has his way Im sure he will find a way to destroy it like he always does.

Adrian is okay with his Obamassiah giving Brazil BILLIONS in taxpayer money to develop an oil field .......... in Brazil.

Right Adrian?

Adrian went off topic and now everyone is responding to Adrian. Mission Accomplished indeed.

So Adrian, what are your thoughts on the actual point of the post?

You could also use this graph with the label:

"Deficits with and without a democratically controlled congress."

I dunno... that chart looks to me that Obama and the Democrats managed to bring back "The Twin Towers" in their own special way...

"Adrian went off topic and now everyone is responding to Adrian. Mission Accomplished indeed.

So Adrian, what are your thoughts on the actual point of the post?"

Ignorance needs to be responded to just like doggie doo doo on the kitchen floor.

On the OVERALL topic -

If we'd kept on the trend line, seeing 2007 with the Surge as an expense that'd be likely about half that the next year, we'd probably be running a surplus at this point.

All other things being equal. And the Dems not getting into office, that is.

What would have happened, really, if the housing bubble pop hadn't been exacerbated by Fannie and Freddie mis-managment?

As it is, it'll be a long time before we're within sniffin' distance of a surplus.

Both political parties have now proven one major point; neither can politically manage the nation without recessions, high unemployment, high taxes, etc.

Mr. Hooson,

This is going to surprise you, but I agree with you. How about if we "manage" the nation ourselves without help from the so-called "elites" in Washington?

Yo Adrian, thanx for the info. Just one more thing to contrast the incompetence of the Obama admin and the Dem Congress. Looks like Halliburton and Iraq are doing the one thing this admin can't seem to foster here - create jobs.

It's breathtaking the extent to which Obama-Reid-Pelosi have destroyed the country's fiscal prospects.

Deficit really took off after Bush's Second Recession began (Dec. 2007). Can't blame this on the Democratic Congress -- remember Bush had it in his power to veto any remedy they came up with.

Are you saying, Highlander, that Obama couldn't have doen this? He woudl have had republicans happy to uphold the veto. Ad regardless of the deficits a: The last budget of the BUsjh years, so to speak, was held over by the democratic congress until Obama could sign it. . and Obama has already exceeded the deficits of BUSHES ENTIRE EIGHT YEARS IN OFFICE.

"and Obama has already exceeded the deficits of BUSHES ENTIRE EIGHT YEARS IN OFFICE."

Hell, I'll go one better. Hussein has accrued more debt in 2 long years then in the previous 234 years combined.

Good job Barry!

I find I agree with Paul Hooson. I need aspirin. I don't believe the voters, who may deliver a historic rout of Democrats in November, have any illusions that Republicans will save the day. Their only goal is to gum up Washington as much as possible. Best-case scenario is a bloodbath in the House, taking the gavel away from the idiot Pelosi, and a statistical tie in the Senate making the body thoroughly ungovernable. Hopeless government gridlock would far preferable to passing 2,500 page bills no one has read.

It really doesn't matter who wins. Bernanke's bond bubble will soon break. And the resulting chaos of $20 gallon gasoline and price controls that lead to empty store shelves will bring us a military government under General Petraeus. My real question is whether the job of guillotine operator will include benefits.

Highlander, how many years of Democrat controled congress and Democrat controled executive brach does it take for them to be responsible for the mess? George Bush has not been president for over 18 months, Republicans have not held congress since Jan 2007. The hell I can't blame the democrat congress and the democrat president.

So for the 15th time at what date can we expect Obama to be responsible for the state of the country? At what date can we hold the democrats responsible for the craptastic junk that has come out of congress the past 3 years?

Highlander, how many years of Democrat controled congress and Democrat controled executive brach does it take for them to be responsible for the mess?