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Getbig Main Boards => Politics and Political Issues Board => Topic started by: 240 is Back on February 13, 2011, 03:03:25 PM
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They're coming out tomorrow... we learn all about Obama's cuts to the budget. Obama will slash ONE TRILLION dollars off the budget over 10 years. he's slashing up programs. Liberals consider these programs sacred - student loans, defense spending, clean water junk, etc.
Obama freezes annual domestic spending for the next 5 years!
So what will we complain about? not enough cuts? Or, "how could he possibly hurt Americans like this?".
(PS..... neither the white house nor republicans will touch social security spending, medicaid, etc. OFF LIMITS?)
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Not sure i would say that liberals consider defense spending "sacred"
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We are flat ass broke and need to cut with hatchet asap.
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Not sure i would say that liberals consider defense spending "sacred"
nah, but the bulk of it is coming from social programs and liberals are going to shit.
I was just hoping to see some getbig 'conservatives' whine and opine for social programs getting the axe.
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Like I keep saying the only fair way, as shitty, distateful, and anger inducing as it may be, it to do it straight across the board.
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I havent heard about student loans...what i did hear about was pell grants, which are not student loans.
I agree with these being cut seeing as everytime i applied i got the shaft :P
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ABC news said student loans... i typed as they listed each item. i guess we'll see in the morning.
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White House Expects Deficit to Spike to $1.65 Trillion (Obama continues spending at record pace)
wall street journal ^ | 2/14/2011 | DAMIAN PALETTA and COREY BOLES
The White House projected Monday that the federal deficit would spike to $1.65 trillion in the current fiscal year, the largest dollar amount ever, adding pressure on Democrats and Republicans to tackle growing levels of debt.
The projected deficit for 2011 is fueled in part by a tax-cut extension that President Barack Obama and Republican lawmakers brokered in December, two senior administration officials said. It would equal 10.9% of gross domestic product, the largest deficit as a share of the economy since World War II.
The new estimate is part of Mr. Obama's proposed budget for fiscal year 2012, which becomes public Monday morning.
Mr. Obama is proposing $3.73 trillion in government spending in the next fiscal year, part of a plan that includes budget cuts and tax increases that administration officials believe will sharply bring down the federal deficit over 10 years.
The deficit would decline in fiscal year 2012 to $1.1 trillion, or 7% of gross domestic product, under Mr. Obama's plan, as a year-long payroll tax holiday and an extension of federal jobless benefits expired, administration officials said. By 2017, the budget plan says, the deficit would be shaved to $627 billion, or 3% of gross domestic product.
(Excerpt) Read more at online.wsj.com ...
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WHAT BS! Its the spending morons!
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There is SOOOOO much fraud, waste and abuse on the govt side of things that these "cuts" are mostly just tightening up things that should have been taken care of long ago. Anyone who has ever worked in any part of the government knows that as the fiscal year comes to a close, ALL agencies spend to try to meet, or exceend the previous years budget so that they can receive at least as much the next year. Organizations that come in under budget should be the ones recieving some types of incentives, instead of "rewarding" those that spend as much or more than the budget allows.
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What budget cuts? Spending has increased to record highs, this is bad comedy and really indefensible. Usually when someone "cuts" a budget down it means actual spending outlays decrease, only in D.C. can something include budget "cuts" and still have spending go through the roof. I guess the last elections didn't really do much to change this Administrations course.
Someone give this it's own thread, a thread that has content and posts worth 3.73 trillion dollars.
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Bama is a complete joke. He is a madoff, but worse.
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Obama's Pathetic Budget
Fred Barnes
February 14, 2011 12:30 AM
Let’s be candid about President Obama’s budget. It’s pathetic. The country faces a worsening debt crisis and Obama has not come to play. He kissed off the crisis in his State of the Union address last month. And now his plan for spending over the next 10 years doesn’t come close to dealing with the debt problem.
So he 0-for-2 in coming to grips with the fiscal mess that threatens America’s economic position at home and abroad. Obama didn’t create the crisis, but in two years his spending has added $3 trillion to the national debt. In 2011, the deficit figures to be nearly 10 percent of the gross domestic product. In 2012, the deficit will exceed $1 trillion for the third consecutive year.
Obama would cut spending by $1.1 trillion over the coming decade. That figure is smaller than the projected deficit of $1.5 trillion in 2011. Think about that: Obama’s total reductions are less than a single year’s deficit. That’s what I mean by pathetic.
A highly publicized item in the 2012 budget is a 5-year (partial) freeze on discretionary spending, a saving of $400 billion. That was swallowed up this year when Congressional Budget Office re-calculated the deficit for 2011 deficit and boosted it from $1.1 trillion to $1.5 trillion, the biggest 1-year deficit ever.
Obama’s plan includes spending hikes in some areas. The most egregious may be $53 billion for construction of high-speed rail in Florida, California and several other states. This is one of the least cost-effective projects in the history of wasteful government spending. Yet it’s one of the president’s pet projects, and he appears more wedded to it than to taming the rise in the national debt.
The Obama budget is so unresponsive to the fiscal situation that it prompts this question: it’s merely a tactical budget. He’s now waiting to see what Republicans will propose in their 2012 budget, the outlines of which are to be hammered out by House Budget Committee Chairman Paul Ryan in April. Following that, Obama and congressional Republicans will negotiate, ultimately agreeing on a budget.
That’s the most benign interpretation I can think of. A more likely explanation: Obama has set the stage to attack Republicans for proposing spending cuts certain to be deeper than those Obama is advocating.
Democrats tend to believe that while Americans want spending to be reduced dramatically, they’ll feel differently when faced with cuts in specific programs such as education, transportation, research, and assistance to the poor. In other words, the public is philosophically conservative, but operationally liberal, or so many Democrats think.
In recent weeks, Democrats have talked up the possibility of a budget impasse that causes a government shutdown. When this happened in 1995, President Clinton and Democrats blamed congressional Republicans. So did the media. A repeat in 2011 would delight Democrats, assuming that once again Republicans get the blame. Pretty cynical, but Democrats are desperate after the clobbering they took in the election this past November.
By the way, the president’s own debt commission delivered its recommendation in December. It favored $4 trillion in spending cuts over 10 years. That includes cuts in Medicare, Medicaid, and Social Security, mandatory spending programs that Obama doesn’t touch.
Fred Barnes is executive editor of THE WEEKLY STANDARD.
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What don't you fools grasp yet? His intent is to collapse the nation and he is doing it daily all along with the bods and cheers of the idiots who are too brain dead and still gushing over their "historic, transformational, all-knowing, all-seeing, all-being" psuedo-messiah figure they refuse to acknowledge is taking a bad situation and turning it into an irretrievablly catastrpohic disaster, ON PURPOSE!
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weird... obama slashes 1.1 trillion and they refuse.
The repubs have a chance to stop 1.5 trillion in spending - THIS YEAR - and they promise to take that chance.... But then they don't do it. They settle for 50 bil in cuts instead.
So - to be clear - Obama has cut 1.1 trillion the budget.
The repubs - with a chance to cut that much, opted for 50 bil.
Correct, 333386?
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weird... obama slashes 1.1 trillion and they refuse.
The repubs have a chance to stop 1.5 trillion in spending - THIS YEAR - and they promise to take that chance.... But then they don't do it. They settle for 50 bil in cuts instead.
So - to be clear - Obama has cut 1.1 trillion the budget.
The repubs - with a chance to cut that much, opted for 50 bil.
Correct, 333386?
obama has not cut a damn thing and plans this over a DECADE! The yearly deficit is larger than what he plans to save over a damn decade!
The only one remotely sensible in this so far is Rand Paul. The rest are a joke.
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LOL this coming from the guy who justified tarp?
do you know what happens if the debt ceiling wasnt raised 240?
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obama has not cut a damn thing and plans this over a DECADE! The yearly deficit is larger than what he plans to save over a damn decade!
The only one remotely sensible in this so far is Rand Paul. The rest are a joke.
Didn't Rand Paul opt for stopping 50 bil in spending this year - instead of stopping 1.5 trillion new debt ceiling? He promised he would do it. Did he?
Look dude, we all know obama is doing this over 10 years... so it's 110 billion per year. A drop in the bucket. I'm just pissed that the repubs said they'd stop 1.5 trillion THIS YEAR - and they didn't!!!
So yes, in this next year - repubs have shaved 50 bil and obama has shaved 110 bil. Fact. And sad.
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do you know what happens if the debt ceiling wasnt raised 240?
End of the world?
If bad things would have happened - why did Rand Paul and other tea party candidates PROMISE they wouldn't raise it? Just preying on people's ignorance?
More campaign lies just to get a job?
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Didn't Rand Paul opt for stopping 50 bil in spending this year - instead of stopping 1.5 trillion new debt ceiling? He promised he would do it. Did he?
Look dude, we all know obama is doing this over 10 years... so it's 110 billion per year. A drop in the bucket. I'm just pissed that the repubs said they'd stop 1.5 trillion THIS YEAR - and they didn't!!!
So yes, in this next year - repubs have shaved 50 bil and obama has shaved 110 bil. Fact. And sad.
They have no even debated the issue yet and still have obama and reid to deal with.
But please keep the real blame where it belongs - the object of your wet dreams who took a bad situation and exploded it.
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They have no even debated the issue yet and still have obama and reid to deal with.
But please keep the real blame where it belongs - the object of your wet dreams who took a bad situation and exploded it.
Nobody is arguing, that 33!!!!!!!!!!!!
Nobody is (^$(&*#^$*(%&$ ing defending obama here. He spends like a drunken sailor.
I'm pissed that we're debating cutting 1.1 trillion over ten years - then the GOP had the power to delievr TEN TIMES THAT - THIS YEAR ALONE.
And they didn't. So while you're shitting on obama for "only" cutting 110 billion per years, you should be taking ten shits on the GOP for not USING THE POWER WE GAVE THEM and cutting 1.1 trillion per year.
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Do you even follow the news? Reid is threatening to shut down the govt and blame the GOP if the GOP pushes more cuts than Obama will agree to.
Personally, I wish they would shut the govt down, but that is a different story.
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Come on 240, you're smarter than this. The budget is at record highs and so are the deficits. Obama didn't "cut" 1.1 Trillion from the budget, if he did, the budget would be at 2.62 trillion.
Again, this bad, real bad.
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Do you even follow the news? Reid is threatening to shut down the govt and blame the GOP if the GOP pushes more cuts than Obama will agree to.
Personally, I wish they would shut the govt down, but that is a different story.
I'm fine with them shutting down the govt. It got shut down in 95, didn't it? The world didn't end.
Repubs need to go on national TV - I'm talking the top 50 republicans on ONE STAGE (yes, put aside your egos, a-holes) - and they need to read one message:
"The govt is being shut down because Obama and the Dems won't stop spending."
That's IT. Nothing more. No fricking tweets about michelle's diet, or infighting about anything else. One UNIFIED message blaming obama, and let them shut that shit down.
Unless they just want to keep getting their paychecks... in that case, just go limp like they are, and let Obama cakewalk in 2012. Nice work, cowards.
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End of the world?
If bad things would have happened - why did Rand Paul and other tea party candidates PROMISE they wouldn't raise it? Just preying on people's ignorance?
More campaign lies just to get a job?
yup just like your saviour ;)
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I'm fine with them shutting down the govt. It got shut down in 95, didn't it? The world didn't end.
Repubs need to go on national TV - I'm talking the top 50 republicans on ONE STAGE (yes, put aside your egos, a-holes) - and they need to read one message:
"The govt is being shut down because Obama and the Dems won't stop spending."
That's IT. Nothing more. No fricking tweets about michelle's diet, or infighting about anything else. One UNIFIED message blaming obama, and let them shut that shit down.
Unless they just want to keep getting their paychecks... in that case, just go limp like they are, and let Obama cakewalk in 2012. Nice work, cowards.
I've already said i want the govt shut down if they refuse to cut spending like we are doing. Its completely immoral what obama is doing.
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yup just like your saviour ;)
And since I have already said obama is spending like a drunken sailor...
the GOP is the banker that keeps on handing him the money to spend ;)
And it appears we're already at the point where you're defending GOP inaction by drawing moral equivalents to Obama's spending. So you agree with me. They're just as bad. Thank you for that.
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And since I have already said obama is spending like a drunken sailor...
the GOP is the banker that keeps on handing him the money to spend ;)
And it appears we're already at the point where you're defending GOP inaction by drawing moral equivalents to Obama's spending. So you agree with me. They're just as bad. Thank you for that.
What are you rambling about? 333's article clearly points out that the Republicans will present their counter-budget in APRIL.
Terrible budget proposed by Obama and you're a clueless douche for defending it. "Look at me, I'm 240 and I swear I'm a libertarian!" ::)
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Debt now equals total U.S. economy
By Stephen Dinan
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The Washington Times
12:16 p.m., Monday, February 14, 2011
President Obama projects that the gross federal debt will top $15 trillion this year, officially equalling the size of the entire U.S. economy, and will jump to nearly $21 trillion in five years' time.
Amid the other staggering numbers in the budget Mr. Obama sent to Congress on Monday, the debt stands out — both because Congress will need to vote to raise the debt limit later this year, and because the numbers are so large.
Mr. Obama's budget said 2011 will see the biggest one-year jump in debt in history, or nearly $2 trillion in a single year. And the administration says it will reach $15.476 trillion by Sept. 30, the end of the fiscal year, to reach 102.6 percent of gross domestic product (GDP) — the first time since World War II that dubious figure has been reached.
In one often-cited study, two economists have argued that when gross debt passes 90 percent it hinders overall economic growth.
The president's budget said debt as a percentage of GDP will top out at 106 percent in 2013, but only if the economy booms.
“I still don’t see a sense of urgency from the president about the massive federal debt," said Sen. Lamar Alexander, Tennessee Republican. "His budget calls for too much government borrowing – even though the debt is already at a level that makes it harder to create private-sector jobs.”
Speaking on MSNBC on Monday, Jacob "Jack" Lew, the White House budget director, said their long-term plan to lower deficits will stabilize the debt.
"When we came into office, when President Obama took office, the deficit was climbing to over 10 percent of the economy. We have a plan that would bring it down to 3 percent," he said. "That is the most rapid reduction in the deficit in history. It is what we have to do to be able to say we're paying our bills and we're not adding to the debt."
The administration said debt as a percentage of GDP will stabilize at about 105 percent in the middle of this decade, though those calculations assume economic growth levels significantly above projections of the non-partisan Congressional Budget Office.
The government measures debt several ways. Debt held by the public includes the money borrowed from Social Security's trust fund.
Actual debt held by the public will reach 72 percent of GDP in 2011 and will climb as the Social Security trust fund's finances continue to deteriorate.
© Copyright 2011 The Washington Times, LLC. Click here for reprint permission.
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Keep spending you asshole!
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Obama budget could boost fees on airline tickets
Associated Press ^ | DAVID KOENIG
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Airline travelers would pay more to help finance airport projects under President Barack Obama's budget plan.
The president's budget released Monday would raise the "passenger facility charge" to $7 from $4.50 per flight to offset cuts in airport grants.
(Excerpt) Read more at hosted.ap.org ...
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FFFUUUBBBOOO!!!!!
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Obama budget could boost fees on airline tickets
Associated Press ^ | DAVID KOENIG
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Airline travelers would pay more to help finance airport projects under President Barack Obama's budget plan.
The president's budget released Monday would raise the "passenger facility charge" to $7 from $4.50 per flight to offset cuts in airport grants.
(Excerpt) Read more at hosted.ap.org ...
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FFFUUUBBBOOO!!!!!
I really don't mind that as the fed govt should not have been giving grants to airports anyway.
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I really don't mind that as the fed govt should not have been giving grants to airports anyway.
My bet is that the grants will contrinue and we will get the higher fees.
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Obama budget could boost fees on air travelers
By DAVID KOENIG, AP Airlines Writer David Koenig, Ap Airlines Writer – 5 mins ago
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Airline travelers would pay more to help finance airport projects under President Barack Obama's budget plan.
The president's budget released Monday would raise the "passenger facility charge" to a maximum of $7 from $4.50 per flight to offset $1.1 billion in cuts to airport grants. Airports use the passenger-charge money for FAA-approved safety and expansion projects.
Just because it's in the president's budget doesn't mean the increased facility charge will fly. Some Republicans with a hand in writing aviation laws have different ideas. Airlines are also fighting the proposal, saying it amounts to a $2 billion tax increase on the flying public. Airline executives argue the increase could discourage more people from flying.
Todd Hauptli, a lobbyist for the American Association of Airport Executives, said the grant cuts would hurt critically needed safety, security and capacity projects at airports around the country.
Airport advocates, such as consultant Mike Boyd, were outraged that Obama would cut airport spending while proposing $53 billion for high-speed rail. "Rail won't work — it's a 19th-century solution," he said. "Meanwhile, airports will have 30 percent less to do the things we need to do."
Last year the House approved a bill that would have let airports raise the charge up to $7, but the Senate version of the bill to reauthorize the Federal Aviation Administration didn't include a raise. The bill died anyway.
The House is now under Republican control, and last week, Rep. John Mica, R-Fla., new chairman of the House Transportation Committee, and new aviation subcommittee chairman Rep. Tom Petri, R-Wis., notably left the $4.50 limit on passenger charges unchanged in their FAA overhaul bill.
The passenger charge is levied on each flight segment, which is one takeoff and one landing. For example, a passenger flying from Dallas to Detroit with a stop in Chicago would pay the charge twice, once for each leg of the trip.
Airlines say raising the passenger fee would slow the recovery in airline travel, which helped the airlines earn about $2.3 billion in profit last year after losing billions in 2008 and 2009.
Delta Air Lines Inc. CEO Richard Anderson wrote in the airline's in-flight magazine, Sky, that raising the fee to $7 would mean that a family of four would pay $112 in passenger charges on the average trip. He assumes they make one stop on their outbound trip and another going home, for a total of four legs.
The passenger charge is just one item in the Department of Transportation section of the president's $3.73 trillion budget for the fiscal year that starts Oct. 1. Obama's plan would reduce federal deficits by $1.1 trillion over a decade but wouldn't cut as deeply as his own deficit commission recommended.
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Ha ha ha- yeah 0there is no waste fraud and abuse in this. ::)
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Obama's FY2012 Budget:
Taxes, Taxes, and More Taxes
From Ryan Ellis on Monday, February 14, 2011 12:00 PM
President Obama released his budget this morning. Rather than focusing on Washington’s over-spending problem, the budget calls for higher taxes on families and small businesses to pay for even more government spending. Under the Obama budget, tax revenues will grow from 14.4% of GDP in 2011 to 20% of GDP in 2021. By comparison, the historical average is only 18% of GDP.
Tax hike lowlights include:
•Raising the top marginal income tax rate (at which a majority of small business profits face taxation) from 35% to 39.6%. This is a $709 billion/10 year tax hike
•Raising the capital gains and dividends rate from 15% to 20%
•Raising the death tax rate from 35% to 45% and lowering the death tax exemption amount from $5 million ($10 million for couples) to $3.5 million. This is a $98 billion/ten year tax hike
•Capping the value of itemized deductions at the 28% bracket rate. This will effectively cut tax deductions for mortgage interest, charitable contributions, property taxes, state and local income or sales taxes, out-of-pocket medical expenses, and unreimbursed employee business expenses. A new means-tested phaseout of itemized deductions limits them even more. This is a $321 billion/ten year tax hike
•New bank taxes totaling $33 billion over ten years
•New international corporate tax hikes totaling $129 billion over ten years
•New life insurance company taxes totaling $14 billion over ten years
•Massive new taxes on energy, including LIFO repeal, Superfund, domestic energy manufacturing, and many others totaling $120 billion over ten years
•Increasing unemployment payroll taxes by $15 billion over ten years
•Taxing management capital gains in an investment partnership (“carried interest”) as ordinary income. This is a tax hike of $15 billion over ten years
•A giveaway to the trial lawyers—not letting companies deduct the cost of punitive damages from a lawsuit settlement. This is a tax hike of $300 million over ten years
•Increasing tax penalties, information reporting, and IRS information sharing. This is a ten-year tax hike of $20 billion.
Add it all together, and this budget is a ten-year, $1.5 trillion tax hike over present law. That’s $1.5 trillion taken out of the economy and spent on government instead of being used to create jobs.
The “tax relief” in the budget is mostly just an extension of present law, and also some refundable credit outlay spending in the tax code. There is virtually no new tax relief relative to present law in the President’s budget.
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