Obama budget to cut deficit in half

[Avatar4321]

Let's be honest here. President Obama is going to do nothing but expand the debt. He has made it clear. What the hell is there to brag about "cutting it in half"? If you expand it so much in the first month than half of it is always larger than it was to begin with!

 

[Annie]

'paided back,' I am a retard! )

Fixed the quoting in mine.

 

[Skeptik]

Cut the deficit in half to only a little over a half trillion? What a joke! For one thing, that's the same "promise" that Bush made in '04, remember? Kerry was going to cut the deficit in half in five years, so Bush did him one better and promised to do it in four. Of course, neither one was promising a balanced budget, nor were they doing more than paying lip service, just as Obama is doing now. The real kicker is that, even if he reaches that goal, the deficit will still be far more than the deficit that Kerry and Bush promised to cut in half back in '04.

Do the math, and suppose he is able to reduce the deficit as promised. The debt before the bailouts and recession was in the order of ten trillion. The deficit this year is in excess of a trillion. Four more years averaging a trillion (now) to a half trillion (in four years) is four times 3/4 of a trillion, or 3 more trillion. Add it all up, and you have a debt of over 14 trillion dollars, or about $42,000 for every man woman and child in the country.

That adds up to nearly $170,000 for a family of four.

That adds up to $840,000 for that welfare mom and her 10 kids by 9 different daddies (counting the deadbeat daddies, of course, which makes 20 altogether).

And that is supposing that he is actually able to keep that promise.

Holy crap, we're screwed.

 

[Xenophon]

'paided back,' I am a retard! )

Fixed the quoting in mine.

Ok, i'll do the same but it's still funny.

Of course the joke is on us, as people here seem to think the way Clinton did things was 'good.'

 

[Annie]

'paided back,' I am a retard! )

Fixed the quoting in mine.

Ok, i'll do the same but it's still funny.

Of course the joke is on us, as people here seem to think the way Clinton did things was 'good.'

Indeed, I can laugh at myself, there are times my spelling is absolutely Freudian.

 

[Xenophon]

Indeed, I can laugh at myself, there are times my spelling is absolutely Freudian.

I surprise myself with those spelling errors, no matter how much I try to avoid them I make them just the same.

 

[elvis]

It is the Clinton formula.

Reduce wasteful miliary spending and increase taxes on the rich.

I think it's a great idea.

Kirky lewinsky's mouth watering again?

 

[elvis]

He's doubling the deficet now, and he hasn't yet done a real budget, and we are supposed to believe that in 4 years he will have paid back 1.5 trillion dollars.

Yeah, right.

Once the economy turns around, taxes may skyrocket. just an intuition.

 

[editec]

Oh and by the way, that figure of 1.3 Trillion dollars for Bushes last Deficit counts the 700 Billion dollar TARP bail out.

But what did NOT go into the annual budget was the cost of IRAQ.

The FEDS (both parties) play games with the budget to create headlines that make conditions seem better than they are.

 

[elvis]

Oh and by the way, that figure of 1.3 Trillion dollars for Bushes last Deficit counts the 700 Billion dollar TARP bail out.

But what did NOT go into the annual budget was the cost of IRAQ.

The FEDS (both parties) play games with the budget to create headlines that make conditions seem better than they are.

Yeah I wonder what Obama will leave out.

 

[Skeptik]

Indeed, I can laugh at myself, there are times my spelling is absolutely Freudian.

I surprise myself with those spelling errors, no matter how much I try to avoid them I make them just the same.

Don't ewe ewes a spell checker? Aye awl weighs ewes won, sow eye no my spelling is write every thyme. Sea? Naught won word is underlined in read!

 

[The InDesigner]

Yeah. Clinton did it. Obama might be able to pull off the success. Reducing military spending (ie The Iraq War...) and increasing taxes on the rich will certainly do a lot. But I'm not sure it's enough. Clinton had a smaller deficit to overcome. Obama has more spending plans.

 

[garyd]

Clinton didn't make crap work. He Got close to a balanced budget because The Republican congress stuffed it down his throat. You can't both balance the budget and spend money like its going out of style. Soaking the rich can only be done to the extent the rich will permit it. They have too many options including taking their game else where that the rest of of us don't.

 

[jreeves]

WASHINGTON (Reuters) - President Barack Obama will use his first budget, due to be unveiled next week, to put the United States on track towards cutting its ballooning deficit in half by 2013, an administration official said on Saturday.

"The deficit this administration inherited was $1.3 trillion (907 billion pounds) or 9.2 percent of GDP. By 2013, the end of the president's first term, the budget cuts the deficit to $533 billion or 3.0 percent of GDP," said the official who spoke on condition of anonymity.

"Most of the savings will come from winding down the war in Iraq, increased revenue from those making more than $250,000 a year, and savings from making government work more efficiently and eliminating programs that do not work," the official added.

Obama wants to cut U.S. deficit in half by 2013 | Reuters

Lmao...
American Issues Project

 

[jreeves]

Oh and by the way, that figure of 1.3 Trillion dollars for Bushes last Deficit counts the 700 Billion dollar TARP bail out.

But what did NOT go into the annual budget was the cost of IRAQ.

The FEDS (both parties) play games with the budget to create headlines that make conditions seem better than they are.

My favorite federal government accounting game is taking from the Social Security trust fund to make their general budgets look better and both sides do it. These crooks would be in jail if they stole like this in the private sector.

 

[xsited1]

WASHINGTON (Reuters) - President Barack Obama will use his first budget, due to be unveiled next week, to put the United States on track towards cutting its ballooning deficit in half by 2013, an administration official said on Saturday.

"The deficit this administration inherited was $1.3 trillion (907 billion pounds) or 9.2 percent of GDP. By 2013, the end of the president's first term, the budget cuts the deficit to $533 billion or 3.0 percent of GDP," said the official who spoke on condition of anonymity.

"Most of the savings will come from winding down the war in Iraq, increased revenue from those making more than $250,000 a year, and savings from making government work more efficiently and eliminating programs that do not work," the official added.

Obama wants to cut U.S. deficit in half by 2013 | Reuters

The Iraq war has already been winding down (although he's increasing troop levels in Afghanistan, so it might be a wash), Obama voted for the bail-out packages and he's not going to get much by increasing taxes on the 'rich' since they'll just move their money out of the country. I'd be interested in knowing which programs he plans to eliminate and how much taxpayers savings can be realized. It's hard to believe that he's interested in decreasing the deficit after spending nearly $800 billion of taxpayer money.

 

[DiamondDave]

Obamabots... drinking Kool Aid like they were in the People's Temple

 

[Charles_Main]

Now since when does a headline that is so misleading become absolute truth? I am wondering how Obama is gonna cut the deficit with a plan to spend 3 TRILLION dollars? And better yet he won't even be doing it until a year AFTER his elected office ends. Remind me when something in 5 years gets reported in such away as to seem right now?

Remind me how predictions made years in adance always come true. In fact name a single Politicians claim of what would happen in 5 years that came true.

It is a complete joke, and more blatant Dishonesty on the part of Obama.

Obama knows full well Bushes Last Deficit of 1.3 Trillion included the 700 Billion Tarp Bail out.

So what he is saying is it will be a good thing 4 years from now when he has lowered the Deficit to only 1/2 a Trillion Dollars, which will be = to or slightly less than Bushes Actual Last Deficit.

He actually wants to take credit for only running a 500 Billion dollar deficit after 4 whole years in office.

So basically he is saying I have been right all along. Because if you add the 3 Trillion Deficit this year to 3 more years of over 500 Billion dollar deficits you get nearly 5 Trillion dollars in New Debt, Or in other words, the same amount of Debt Bush added in 8 Years, added in only 4.

This is nothing short of blatant dishonesty on the part of Obama.

 

[DiveCon]

Oh and by the way, that figure of 1.3 Trillion dollars for Bushes last Deficit counts the 700 Billion dollar TARP bail out.

But what did NOT go into the annual budget was the cost of IRAQ.

The FEDS (both parties) play games with the budget to create headlines that make conditions seem better than they are.

thus there was NO surplus with Clinton

 

[Skeptik]

Oh and by the way, that figure of 1.3 Trillion dollars for Bushes last Deficit counts the 700 Billion dollar TARP bail out.

But what did NOT go into the annual budget was the cost of IRAQ.

The FEDS (both parties) play games with the budget to create headlines that make conditions seem better than they are.

thus there was NO surplus with Clinton

No, there was no surplus under Clinton. The best that can be said is that, after having stolen the pension funds, no further borrowing was needed. Unfortunately, the sam can't be said for the next administration, nor will it be said for this one.