A moment of truth. The CBO has scored the President's 10 year budget.

[Charles_Main]

March 25, 2011 4:00 A.M.
Worsening Our Fiscal Nightmare
We need honest, fact-based budgeting.

Last Friday, the Congressional Budget Office scored President Obama’s ten-year budget plan. Their findings underscore a painful truth: The president is failing to engage in the kind of honest dialogue necessary to rally the country behind needed action.

His budget — widely criticized for growing our gross debt by $13 trillion, swelling our bloated bureaucracy, and ignoring our surging entitlements — is so filled with gimmicks and manipulations that the CBO found an additional $2.3 trillion in deficits beyond what the White House projected.

It is the most irresponsible spending plan put forward by a president in our time. It not only fails to change, but actually accelerates us along, our dangerous fiscal trajectory.

The co-chairmen of the president’s own fiscal commission declared that if we fail to take swift and serious action, our country faces “the most predictable economic crisis in its history.” They disagreed only on the timeline. Erskine Bowles estimated we had at least two years, while Alan Simpson estimated we had closer to one. Similar warnings have been sounded by experts across the country and the world.

America’s leaders have no higher duty, no greater moral responsibility, than to take all appropriate steps to protect the good people we serve from a clear and present danger.

— Sen. Jeff Sessions (R., Ala.) is a ranking member on the Senate Budget Committee.

Worsening Our Fiscal Nightmare - Sen. Jeff Sessions - National Review Online

Now you are not being honest. 55% of the National Debt is the Bush tax cuts.

55% of 13 Trillion is do to the Bush Tax cuts? You are right someone is being very dishonest.


YOU!

 

[Mr. Shaman]

You have nailed this dead center. It is all about the unsustainable spending. We have elected officials who think that we can eliminate our debt by printing and spending more money. Any fiscally responsible adult knows that isn't true. The blame for this must fall at the feet of the American people. We voted to put all of these pinheads into office.....

.....And, decided The Nation's Credit-Card-Balance.....

......would magically DISAPPEAR!!!!

* * * *

 

[Mr. Shaman]

If you'll just give the obama another 4 yrs it'll all be good.

....And, that'll be WHICH Anniversary of the WMDs being found???

​

 

[Greenbeard]

The CBO does what they are told. If the Obama administration tells them to project the 10 year cost of Obamacare- using a full 10 years of tax collection, while paying only 6 years of benefits, incorporating a 15% cut in costs across the board, and a rosy growth of tax revenue at 6%- they do it.

The primary tax in that law isn't implemented until 2018, meaning revenues from it only appeared for the final 2 years of the score. That's why the budget picture looks better the further the budget window protrudes (note that the original score only went as far as 2019).

 

[Mr. Shaman]

Four more years of Obama? He will have achieved his goal to bankrupt the USA by then.

 

[Jack Fate]

Four more years of Obama? He will have achieved his goal to bankrupt the USA by then.

When a lefty sees "particular obligation", he only sees that applying to a rightie who is wealthy. That would never apply to a lefty or a corporation who supports lefty causes like GE.

Phoney hypocrites.

 

[Avorysuds]

I have never put anyone on ignore before... How do I do this?

Shaman's posts are HUGE, annoying, bigoted, racist and amazingly repetitive… I’d like to just not have to scroll over them so much as he posts like 3-4 log ass posts chained together so often.

 

[Mad Scientist]

Aww just wait till the next republican is elected and the same ones will just flip and be apologizing for the republican led spending.

It is more of who is spending and on what than how much they spend.
The historical evidence is out there to prove my point.

"Reagan proved the defecit does not matter"

I agree that Bush was no budget cutter either. But it may not have mattered much when the deficit was 75 billion as when Reagan took office. What is it now? 1.4 Trillion. For those of you in Rio Linda that's 1,400 Billion.
All that matters is that's what the number is now. And what is the President and Congress doing about it? Fighting over 30-60 billion in measly cuts. We are soooooo fcuked!

The CBO does what they are told. If the Obama administration tells them to project the 10 year cost of Obamacare- using a full 10 years of tax collection, while paying only 6 years of benefits, incorporating a 15% cut in costs across the board, and a rosy growth of tax revenue at 6%- they do it.
Garbage in=Garbage out.
Reality in = Reality out.

That was how they justified ObamaCare, 6-8% growth would pay for it but we're not gonna' get that anytime soon. I keep reminding my Liberal friends of that.

I think we're getting the bait and switch. "Oh, the numbers aren't working out as planned because of the unforeseen (it's always unforeseen to these geniuses) troubles with the economy. We're just gonna' have to raise taxes! We did try our best you know!"

 

[Avorysuds]

The CBO does what they are told. If the Obama administration tells them to project the 10 year cost of Obamacare- using a full 10 years of tax collection, while paying only 6 years of benefits, incorporating a 15% cut in costs across the board, and a rosy growth of tax revenue at 6%- they do it.

The primary tax in that law isn't implemented until 2018, meaning revenues from it only appeared for the final 2 years of the score. That's why the budget picture looks better the further the budget window protrudes (note that the original score only went as far as 2019).

Google Image Result for http://blog.heritage.org/wp-content/uploads/2009/07/foundry_recovery_plan_full.jpg

I'll just keep on trusting Obama's numbers and projections! Remember he saved us from a Depression!

But hey, you're an Obama-bot. Tell us what will really happen, based on Obama's charts =D!

 

[Greenbeard]

I'll just keep on trusting Obama's numbers and projections! Remember he saved us from a Depression!

Er, the premise of this thread is that CBO's numbers are not "Obama's numbers." And they aren't.

 

[Mr. Shaman]

Four more years of Obama? He will have achieved his goal to bankrupt the USA by then. Isn't that a great legacy?

Obama, by the laws and programs that he has approved is doing what the combined powers of Imperial Japan, Nazi Germany, Soviet Russia and the despots of the Middle East could not do.

The Pen, at least in his left hand, is truly mightier than the Sword.

He doesn't understand that in order to do what he wants the Republic to do, the Republic must continue to exist.

Gee.....you 'Baggers just-recently figured-that-out, huh????

Great timing........

 

[boedicca]

so now we like the cbo?

It's only been three months since the claim that CBO's role is simply to "regurgitate" numbers fed them by The Powers That Be was all the rage. But three months is a long time in politics, I suppose.

edit: And I see from the post above mine that it still lives!

The criticism of the original CBO score was based upon what they were given to score:

- The "savings" from reducing Medicare was counted twice.
- The Doc Fix wasn't included

I recall quoting from former CBO Director Douglas Holz-Eakins' op-ed at the time:

Gimmick No. 1 is the way the bill front-loads revenues and backloads spending. That is, the taxes and fees it calls for are set to begin immediately, but its new subsidies would be deferred so that the first 10 years of revenue would be used to pay for only 6 years of spending.

Even worse, some costs are left out entirely. To operate the new programs over the first 10 years, future Congresses would need to vote for $114 billion in additional annual spending. But this so-called discretionary spending is excluded from the Congressional Budget Office’s tabulation.

Consider, too, the fate of the $70 billion in premiums expected to be raised in the first 10 years for the legislation’s new long-term health care insurance program. This money is counted as deficit reduction, but the benefits it is intended to finance are assumed not to materialize in the first 10 years, so they appear nowhere in the cost of the legislation.

Another vivid example of how the legislation manipulates revenues is the provision to have corporations deposit $8 billion in higher estimated tax payments in 2014, thereby meeting fiscal targets for the first five years. But since the corporations’ actual taxes would be unchanged, the money would need to be refunded the next year. The net effect is simply to shift dollars from 2015 to 2014.

In addition to this accounting sleight of hand, the legislation would blithely rob Peter to pay Paul. For example, it would use $53 billion in anticipated higher Social Security taxes to offset health care spending. Social Security revenues are expected to rise as employers shift from paying for health insurance to paying higher wages. But if workers have higher wages, they will also qualify for increased Social Security benefits when they retire. So the extra money raised from payroll taxes is already spoken for. (Indeed, it is unlikely to be enough to keep Social Security solvent.) It cannot be used for lowering the deficit.

A government takeover of all federally financed student loans — which obviously has nothing to do with health care — is rolled into the bill because it is expected to generate $19 billion in deficit reduction.

Finally, in perhaps the most amazing bit of unrealistic accounting, the legislation proposes to trim $463 billion from Medicare spending and use it to finance insurance subsidies. But Medicare is already bleeding red ink, and the health care bill has no reforms that would enable the program to operate more cheaply in the future. Instead, Congress is likely to continue to regularly override scheduled cuts in payments to Medicare doctors and other providers.

Removing the unrealistic annual Medicare savings ($463 billion) and the stolen annual revenues from Social Security and long-term care insurance ($123 billion), and adding in the annual spending that so far is not accounted for ($114 billion) quickly generates additional deficits of $562 billion in the first 10 years. And the nation would be on the hook for two more entitlement programs rapidly expanding as far as the eye can see.

The bottom line is that Congress would spend a lot more; steal funds from education, Social Security and long-term care to cover the gap; and promise that future Congresses will make up for it by taxing more and spending less.

The stakes could not be higher. As documented in another recent budget office analysis, the federal deficit is already expected to exceed at least $700 billion every year over the next decade, doubling the national debt to more than $20 trillion. By 2020, the federal deficit — the amount the government must borrow to meet its expenses — is projected to be $1.2 trillion, $900 billion of which represents interest on previous debt.

http://www.nytimes.com/2010/03/21/opinion/21holtz-eakin.html?_r=1


But a moron like you has to assume all sets of assumptions given to the CBO are either equally valid or invalid.

 

[Avorysuds]

http://www.usmessageboard.com/healt...h-law-repeal-adds-230-billion-to-deficit.html

no, no i am not..

Yeah moron, it's in that thread where he gets owned....

No one said the CBO was wrong, they say with the numbers being BS that is givin to them of course the outcome does not reflect reality.

And no, I have no idea why in this thread you said "abortion."

Maybe a complete sentence would help?

u r an abortion...

get it now cupcake?

No, who aborted me and why am I still here?

Wait nm, at no point have you been on topic when it comes to the thread... That makes you a TROLL hahaha, shit... I fed the troll.

 

[California Girl]

I have never put anyone on ignore before... How do I do this?

Shaman's posts are HUGE, annoying, bigoted, racist and amazingly repetitive… I’d like to just not have to scroll over them so much as he posts like 3-4 log ass posts chained together so often.

You won't be alone.... I think the majority of the board has him on iggy.

 

[WillowTree]

yes i found it ironic that he would post that.

I also find it funny he didnt understand why i said abortion.
but then again i dont expect much from him in the way of intelligence.

I got it you freak,, same thing as when you sent me your piddly little neg rep and called me "afterbirth" I think you are a code brown.

its sad that i have more respect for chimps than you and your opinions.

That's because you izz a ape. You pick shit from yer ass and eat it.

 

[Mr. Shaman]

March 25, 2011 4:00 A.M.
Worsening Our Fiscal Nightmare
We need honest, fact-based budgeting.

Last Friday, the Congressional Budget Office scored President Obama’s ten-year budget plan. Their findings underscore a painful truth: The president is failing to engage in the kind of honest dialogue necessary to rally the country behind needed action.

His budget — widely criticized for growing our gross debt by $13 trillion, swelling our bloated bureaucracy, and ignoring our surging entitlements — is so filled with gimmicks and manipulations that the CBO found an additional $2.3 trillion in deficits beyond what the White House projected.

It is the most irresponsible spending plan put forward by a president in our time. It not only fails to change, but actually accelerates us along, our dangerous fiscal trajectory.

The co-chairmen of the president’s own fiscal commission declared that if we fail to take swift and serious action, our country faces “the most predictable economic crisis in its history.” They disagreed only on the timeline. Erskine Bowles estimated we had at least two years, while Alan Simpson estimated we had closer to one. Similar warnings have been sounded by experts across the country and the world.

America’s leaders have no higher duty, no greater moral responsibility, than to take all appropriate steps to protect the good people we serve from a clear and present danger.

— Sen. Jeff Sessions (R., Ala.) is a ranking member on the Senate Budget Committee.

Worsening Our Fiscal Nightmare - Sen. Jeff Sessions - National Review Online

Now you are not being honest. 55% of the National Debt is the Bush tax cuts.

[ame=http://www.youtube.com/watch?v=8wDdWJcpJj0]YouTube - Maddow: GOP plan to extend tax cuts for the rich[/ame]​

 

[Avorysuds]

u r an abortion...

get it now cupcake?

No, who aborted me and why am I still here?

Wait nm, at no point have you been on topic when it comes to the thread... That makes you a TROLL hahaha, shit... I fed the troll.

just sad...

[ame=http://www.youtube.com/watch?v=ETO3-MxMe2Q&feature=related]YouTube - Successful Troll Song[/ame]

 

[Mr. Shaman]

March 25, 2011 4:00 A.M.
Worsening Our Fiscal Nightmare
We need honest, fact-based budgeting.

Last Friday, the Congressional Budget Office scored President Obama’s ten-year budget plan. Their findings underscore a painful truth: The president is failing to engage in the kind of honest dialogue necessary to rally the country behind needed action.

His budget — widely criticized for growing our gross debt by $13 trillion, swelling our bloated bureaucracy, and ignoring our surging entitlements — is so filled with gimmicks and manipulations that the CBO found an additional $2.3 trillion in deficits beyond what the White House projected.

It is the most irresponsible spending plan put forward by a president in our time. It not only fails to change, but actually accelerates us along, our dangerous fiscal trajectory.

The co-chairmen of the president’s own fiscal commission declared that if we fail to take swift and serious action, our country faces “the most predictable economic crisis in its history.” They disagreed only on the timeline. Erskine Bowles estimated we had at least two years, while Alan Simpson estimated we had closer to one. Similar warnings have been sounded by experts across the country and the world.

America’s leaders have no higher duty, no greater moral responsibility, than to take all appropriate steps to protect the good people we serve from a clear and present danger.

— Sen. Jeff Sessions (R., Ala.) is a ranking member on the Senate Budget Committee.

Worsening Our Fiscal Nightmare - Sen. Jeff Sessions - National Review Online

Now you are not being honest. 55% of the National Debt is the Bush tax cuts.

55% of 13 Trillion is do to the Bush Tax cuts? You are right someone is being very dishonest.

Ya' heard-about-that, huh????

Conservatives & Small Business Taxes;
Bogus!!!

 

[Trajan]

so now we like the cbo?

It's only been three months since the claim that CBO's role is simply to "regurgitate" numbers fed them by The Powers That Be was all the rage. But three months is a long time in politics, I suppose.

edit: And I see from the post above mine that it still lives!

yes I agree, its a pol. football, however, you can now make your argument again if you wish as to the rebuttal of claims against those who claimed there was a double counting of a significant portion of funds ala Medicare.....the CBO report confirmation of such arriving what, within a day of the 3rd and final senate cloture vote?

 

[yota5]

It is becoming very clear that many posting replies to this thread don't have a clear handle on what the USA's fiscal picture looks like. Maybe this link will help.

U.S. National Debt Clock : Real Time

Our national debt is over 14 trillion dollars. Every tax payer owes a debt of $128,429.00. Booyah!!!!!!!!!!! Let's keep on spending.








































4