Obama budget to cut $1.1 trillion in deficits

I don't agree with the thinking on either side of the budget cuts right now. We should be trimming off a trillion in 4 years, not 10. It really is pitiful and sad that we have such schmucks in congress.

Is that really reasonable, though? Last year's budget spent $3.5 trillion, with revenues of $2.2 trillion. Cutting $1 trillion in 4 years would mean that (assuming revenues remain the same) spending cuts of $1.1 trillion for each of the next 4 years, or nearly 33% of total spending. What measures would you recommend to realize such cuts? Would you be willing to increase tax revenues in order to realize your goal?


I'd go right at mandatory and discretionary spending ie social, entitlements, military, 20 percent cuts in all agencies within the depts. I wouldn't go 1 trillion a year but more like cuts of 250 billion a year to reach that goal.

Why should we increase taxes to make up for the governments failures to stop spending?
 
I'd go right at mandatory and discretionary spending ie social, entitlements, military, 20 percent cuts in all agencies within the depts. I wouldn't go 1 trillion a year but more like cuts of 250 billion a year to reach that goal.

As, see, this is where the meat and potatoes come in. If we cut $250 billion in SPENDING, we will not be making $250 billion in deficit cuts. We would instead be adding $1 trillion in deficits. Cutting deficits requires that we first spend NO MORE than revenues, and then cut even farther.

Why should we increase taxes to make up for the governments failures to stop spending?

I'm not saying we should or should not. I'm just pointing out that the goal you set of cutting $1 trillion in deficits over 4 years is an extremely ambitious goal that will be very difficult to accomplish. It may be that we would have to choose between increased tax revenues, or a longer timeline.
 
aside from all of this lets remember- a ten year window? what? Thats the usual promise of Unicorns who will magically tie the hands of future congresses to make this all work out... BS.

CUT NOW for the next year, 2012, we'll settle 2013 this time next year for 14 and the year after for 15 and etc.

Thats what he actually has it in his power to suggest and sign.

AND lets address this leadership thing right now, the pres. leads on policy, HE should be suggesting the entitlements that need trimming, he won't because he doesn't want to be first, and get pummeled, and the reps don't either, BUT, this is the presidents lead ( to present a budget to congress by the first monday in February) and what he ran on, he got the State of Union as they all do to frame events and plans....who here thinks he'll forward a plan including cuts for the biggies, defense and medicare? its a tough job, lets see him do it.
 
NEW YORK (CNNMoney) -- President Obama on Monday will propose a 2012 federal budget that the White House says will cut deficits by $1.1 trillion over 10 years.

The president's request calls for a mix of strategic spending to boost U.S. competitiveness and selective belt-tightening intended as a "down payment" on serious deficit reduction, according to his budget director Jacob Lew, who spoke on CNN's "State of the Union."

Full details on the budget will be released on Monday morning.

So it's not clear yet where all of the estimated $1.1 trillion in deficit reduction will come from, or exactly how significant a swipe it makes at long-term deficit reduction.

But one chunk -- $400 billion in savings -- would result from the president's call for a five-year freeze on non-security discretionary spending.

Obama budget to cut $1.1 trillion in deficits - Feb. 13, 2011

When I first saw the headline I was almost like a kid on Christmas morning because I thought this $1.1 trillion cut from the deficit was going to be for this next fiscal year, but it's not. It's over a ten year period.

Nope, not even close to being acceptable. This goes no where near far enough.

and the alternative to cutting $110 billion a year estimate of the budget is ???????

....the 45 billion cut this year that the repubs are suggesting???

are you upset with the tea party and repubs in congress for not proposing more cuts?


6 or 1/2 dozen, imo.

neither have a good plan on deep cuts.....

Rand Paul put up a 500 billion in cuts in 1 year, suck it and stfu.
 
Wait a second, $1.1 trillion over 10 years comes out to a little more than $100 billion a year. Why is this so quickly dismissed as insignificant/inadequate when Obama calls for it, but when the GOP calls for $100 billion in budget cuts for a single year (though only living up to $32 billion) that's somehow praised?

The GOP was hammerd for the shit budget, where were you?

Rand Paul put up 500 billion in cuts and you won't even talk about him.
 
Rand Paul put up 500 billion in cuts and you won't even talk about him.

So, let's talk about him. Did he propose $500 billion in budget cuts, or in deficit cuts? How does his proposal accomplish his goal?
 
Whether they'll ever admit it or not, cutting/slashing the budget will cost jobs as gov't employees and contractors are laid off or just plain let go.

I'll take Congress more seriously if they cut their own budgets, their own staffs, and their own salaries.

Then, if they do that, let's see if they have the moxie to cut defense spending, take on social security, and raise taxes knowing that it might very well cost them their jobs in the process.
 
Rand Paul put up 500 billion in cuts and you won't even talk about him.

So, let's talk about him. Did he propose $500 billion in budget cuts, or in deficit cuts? How does his proposal accomplish his goal?

Well Rand claims that 500 billion is only 1/3rd the problem. He says we need to get the Dems and Reps to cut what *you would think* each party holds as valuable. Liberals cut social spending and Reps cut military spending.

What I believe he means is that despite Reps doing massive social spending and Dems doing massive military spending, making them the same... what they run off "Dems: HC, light rail trains," "Reps: Support the troops and kill terror!" needs to compromise and cut.

Again, Reps and Dems are literally interchangeable in most cases but each party has the stigma of being for certain things, these are the things the parties need to walk in and cut so that in the end social and military together are cut.

http://www.cbsnews.com/8301-503544_162-20031417-503544.html

I was no Rand Paul fanboi AT ALL, despite liking Ron Paul... However so far Rand is doing fucking awesome, but we'll have to see if he keeps it up.
 
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