Obama's Magic Budget

Discussion in 'Politics & Religion' started by Max E. Pad, Feb 14, 2012.

  1. Its funny watching the way Obama operates, supposedly starting next year he is going to trim the deficit by 400 billion, so if we just give him another term, he is going to get real aggressive on it, forgive me if I dont hold my breath. More kicking the can down the road, and bullshit political games.



    Here comes Obama’s magic budget

    After creating more debt than all presidents from George Washington to Bill Clinton combined, President Obama will unveil a budget Monday that will create millions of jobs, take a $1 trillion bite out of the federal debt and magically solve all of America’s problems.

    Not.

    The president’s budget will be filled with gimmicks and accounting tricks as he strives to be all things to all people — or at least all the people he’s hoping will vote for him again in November. Despite three straight years of $1 trillion-plus deficits, Mr. Obama’s budget — even with the massive new spending — will cut the 2013 fiscal year deficit to just $901 billion.

    How? Like this: “To achieve his debt-reduction goal, Obama would rely on an accounting maneuver that permits him to claim about $850 billion in savings over the next decade by ending the wars in Iraq and Afghanistan, a move Republicans have rejected as a gimmick. Obama would use a portion of those savings to finance new road and rail projects, rather than dedicating the full sum to lower deficits,” according to The Washington Post.

    So, Mr. Obama will “save” $850 billion — money America was going to borrow, most likely from China — and then spend the “savings” on more transportation projects: yes, the very same ones he has been pushing to no avail since taking office. Just like the last $800 billion “stimulus,” he will again press to spend hundreds of billions of taxpayer dollars to create jobs: $350 billion in short-term job spending, along with $475 billion for road and rail projects. In addition, he will call for spending $60 billion to refurbish 35,000 schools.

    How will the president pay for all this? With more taxes, of course: $1.5 trillion in new taxes, to be precise. Hit hardest will be the families making $250,000. (When did that suddenly become “rich”? A couple each making $125K and raising a few children — most likely just outside a large city — already pay one-third of it in taxes; how much more does the government want?)

    What’s more, most small businesses pay taxes under the personal tax code, so any little company will fall under the $250,000 cutoff. Republicans, at least, know that.

    “This unserious budget is a recipe for debt, doubt and decline,” said Michael Steel, a spokesman for House Speaker John A. Boehner. “It would make our economy worse by imposing massive tax increases on small business and still pile up enormous debt that stirs greater economic uncertainty.”

    Still, Mr. Obama’s got all kinds of great ideas on whom to tax: For instance, he wants to hit airlines with a “$100-per-takeoff fee” — hmm, think that will get passed on to fliers? On top of that, the budget will call for a 10-year, $60 billion “financial crisis responsibility fee” on the nation’s biggest banks. No way that new cost gets passed on to customers, right? Oh, and Mr. Obama wants to add tens of billions of dollars in fees to oil and gas companies. Those never trickle down, do they?

    In the end, the president’s “new” budget isn’t new at all. Most of his recommendations already have been rejected by Republicans. So the blueprint is really more about bashing a “do-nothing Congress,” highlighting the differences between a president who wants every American to be beholden to the federal government for nearly every service and a Republican House that wants to sensibly cut spending while keeping burdensome taxes low.

    And all the Obama proposals will lead to a White House-predicted unemployment rate in 2012 of — wait, 8.9 percent. Even higher than what it is today? Sounds about right.

    Of course, under the new plan, things will get worse — again — before they get better. The president’s plan would push this year’s deficit to $1.33 trillion. But wait, great news: A senior administration official said the budget predicts that the deficit will drop to $575 billion in 2018.

    That will be two years after Mr. Obama has sold his Chicago house and moved to Honolulu.

    http://www.washingtontimes.com/news/2012/feb/12/curl-here-comes-obamas-magic-budget/
     
  2. Lucrum

    Lucrum

    IQ 47 has informed me that BO's budget is great. Except for the parts he doesn't like, which are all Bush's fault anyway.
     
  3. 377OHMS

    377OHMS

    Mr. Obama's budget is DOA.

    A 30% tax on 1-million in income is hilarious. It is as though the Obama regime thinks that is a lot of income.

    Many bright and productive people are taking their skills and their assets out of the country.

    For me the biggest surprise has been getting job offers in my intended overseas location that are more lucrative than what I'm getting here. Alas my retirement seems to morphing into another career though with no US income taxes.

    Whether the regimes new taxes pass Congress or not I won't be paying them.
     
  4. Right on track

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  5. 377OHMS

    377OHMS

    Well he worships Obama as his God so that is to be expected.

    The ongoing Bush Derangement Syndrome after 3-years of Obama is pretty funny though.
     
  6. RIGHT ON TRACK?!?! ARE YOU HIGH?!

    He already said he was going to cut the deficit in half by the end of his first term, he is 800 billion dollars off that mark, instead of cutting the deficit in half he decided to increase it.... Thats just a slight difference in the eyes of most people....

    Just give him one more term though, this time he means business.... Go Get em Obama!!! I believe you this time!!! :D

    Its funny how he can draw a shitty chart for people like you, and you will eat it up hook line and sinker.....

     
  7. Or better yet lets put in a guy like Bush who increased spending by 88 % and turned a budget surplus into a trillion dollar deficit or a guy like Reagan who turned a nearly balanced budget into massive deficits and debt

    Obamas growth of the deficit is far lower then Bushs and Reagans and he is now decreasing it unlike Bush and Reagan who only increased it
     
  8. You are such a dope, everyone knows where spending originates and its in congress, I would agree that republicans have been just as bad, for going along with liberal ideas, and not putting a stop to them, but implying that they are any worse is just retarded, you should really learn how the government operates, before you make an ass of yourself. Bottom line is they are all a bunch of low life bureaucrats, who are simply fighting for different bureaucracies.

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  9. Well the biggest causes of the deficit are Bushs tax cuts,Bushs wars,Bushes medicare expansion,all of Bushes new government agencies etc...Weren't republicans the majority in Congress when all that passed ?
     
  10. Republicans control the House now so why are you blaming Obama for the current budget deficit :confused:


     
    #10     Feb 14, 2012