Obama Wins Again.. Budget Deal

[Sarah G]

Democrats are making moves that win for a change.

Obama Wins on Budget Deal as John Boehner Cleans Out the Barn

WASHINGTON — The budget agreement struck late Monday between the White House and Congress hands President Obama a clear victory, vindicating his hard line this year against spending limits that he argued were a drag on the economy and buying him freedom for the final 14 months of his term from the fiscal dysfunction that has plagued his presidency.

The deal is the policy equivalent of keeping the lights on — hardly the stuff of a bold fiscal legacy. But it achieves the main objective of his 2016 budget: to break free of the spending shackles he agreed to when he signed the Budget Control Act of 2011, an outcome, the president allowed Tuesday, that he could be “pretty happy” about.

For this fiscal year alone, the deal would add $50 billion in spending, divided equally between defense and domestic programs, as well as $16 billion for emergency war spending, half for the military, half for the State Department. Together, that represents an increase of $66 billion above the spending limits for 2016, not far off the $70 billion increase Mr. Obama requested.

http://www.nytimes.com/2015/10/28/us/politics/obama-boehner-budget-deal.html

 

[eagle7_31]

Democrats are making moves that win for a change.

Obama Wins on Budget Deal as John Boehner Cleans Out the Barn

WASHINGTON — The budget agreement struck late Monday between the White House and Congress hands President Obama a clear victory, vindicating his hard line this year against spending limits that he argued were a drag on the economy and buying him freedom for the final 14 months of his term from the fiscal dysfunction that has plagued his presidency.

The deal is the policy equivalent of keeping the lights on — hardly the stuff of a bold fiscal legacy. But it achieves the main objective of his 2016 budget: to break free of the spending shackles he agreed to when he signed the Budget Control Act of 2011, an outcome, the president allowed Tuesday, that he could be “pretty happy” about.

For this fiscal year alone, the deal would add $50 billion in spending, divided equally between defense and domestic programs, as well as $16 billion for emergency war spending, half for the military, half for the State Department. Together, that represents an increase of $66 billion above the spending limits for 2016, not far off the $70 billion increase Mr. Obama requested.

http://www.nytimes.com/2015/10/28/us/politics/obama-boehner-budget-deal.html

I have a laugh when the left wingers whine about Republicans blocking everything BO wants. BO has gotten most of what he has wanted via inaction by Congress or the courts or the above article.

 

[JakeStarkey]

The article clearly shows the far right is powerless.

 

[Sarah G]

Democrats are making moves that win for a change.

Obama Wins on Budget Deal as John Boehner Cleans Out the Barn

WASHINGTON — The budget agreement struck late Monday between the White House and Congress hands President Obama a clear victory, vindicating his hard line this year against spending limits that he argued were a drag on the economy and buying him freedom for the final 14 months of his term from the fiscal dysfunction that has plagued his presidency.

The deal is the policy equivalent of keeping the lights on — hardly the stuff of a bold fiscal legacy. But it achieves the main objective of his 2016 budget: to break free of the spending shackles he agreed to when he signed the Budget Control Act of 2011, an outcome, the president allowed Tuesday, that he could be “pretty happy” about.

For this fiscal year alone, the deal would add $50 billion in spending, divided equally between defense and domestic programs, as well as $16 billion for emergency war spending, half for the military, half for the State Department. Together, that represents an increase of $66 billion above the spending limits for 2016, not far off the $70 billion increase Mr. Obama requested.

http://www.nytimes.com/2015/10/28/us/politics/obama-boehner-budget-deal.html

I have a laugh when the left wingers whine about Republicans blocking everything BO wants. BO has gotten most of what he has wanted via inaction by Congress or the courts or the above article.

The Rs don't have much choice anymore. America sees what they have been doing and it isn't the work of the people. In fact they have been sitting on their butts doing nothing.

 

[waltky]

Uncle Ferd says he can't count dat high...

Obama’s 2017 Budget: Record $3,643,742,000,000 in Taxes; Record $4,147,224,000,000 in Spending; $503,482,000,000 Deficit
February 9, 2016 | President Barack Obama released a fiscal 2017 budget proposal today that calls for the federal government to take in a record of $3,643,742,000,000 in taxes while spending a record $4,147,224,000,000—and running an deficit of $503,482,000,000.

The taxing and spending totals would be records in inflation-adjusted dollars as presented by the White House Office of Management and Budget in the historical tables it released today along with the budget. Table 1.3 released by the OMB presidents federal receipts and outlays dating back to 1940 in constant fiscal year 2009 dollars. The same table projects receipts and revenues under the budget proposal through fiscal 2021.

According to Table 1.3 the $3,643,742,000,000 in receipts the government would take in next year under Obama’s proposals equals approximately 3,168,700,000,000 in 2009 dollars. That tax intact exceeds all previous years back to 1940 in constant 2009 dollars according to the table. The highest previous tax intake in constant 2009 dollars, according to OMB, is this year—when OMB estimates the Treasury will tak in $2,960,200,000,000 in constant 2009 dollars (or $3,335,500,000,000 in current dollars).

Also according to Table 1.3, the $4,147,224,000,000 that the Obama budget anticipates spending in fiscal 2017 equals approximately $3,606,600,000,000 in constant 2009 dollars. That, according to OMB, would be the most the government has spent in any year going back to 1940. The next highest spending amount, according to OMB, is what the OMB estimates the federal government will spend this year--$3,506,700,000,000 in constant 2009 dollars (or $3,951,300,000,000 in current dollars).

Obama’s 2017 Budget: Record $3,643,742,000,000 in Taxes; Record $4,147,224,000,000 in Spending; $503,482,000,000 Deficit

See also:

$365,694,500,000: U.S. Merchandise Trade Deficit With China Hit Record in 2015
February 9, 2016 | The merchandise trade deficit that the United States ran with China in 2015 hit a record high of $365,694,000,000, according to data released Friday by the U.S. Census Bureau and the Bureau of Economic Analysis.

“The deficit with China increased $22.6 billion to $365.7 billion in 2015,” the BEA said in a press release. “Exports decreased $7.5 billion to $116.2 billion and imports increased $15.1 billion to $481.9 billion.” The $22,615,700,000 increase in the merchandise trade deficit the U.S. ran with China last year was a 6.6-percent jump from the $343,078,800,000 merchandise trade deficit the U.S. ran with China in 2014. The merchandise trade balance deals only with the goods that are imported and exported between the two countries. It does not include the export and import of services.

In recent years, according to the Bureau of Economic Analysis, the U.S. has run a surplus in its exchange of services with China, while running a much larger deficit in its exchange of goods. In 2014, for example, the U.S. ran a $28.077 billion surplus in services traded with China, according to BEA. That caused the overall 2014 U.S. goods-and-services trade deficit with China—which was $315.116 billion—to be less than the 2014 merchandise trade deficit of $343,078,800,000. The BEA is scheduled to release the 2015 balance of trade in services with China (and other countries) on March 4.

The Census Bureau has published U.S.-China export and import numbers on goods going back to 1985. During the past thirty years, the annual value of U.S.-China trade has risen dramatically. So, too, has the gap between the value of the Chinese goods imported into the U.S. and the U.S. goods exported to China. In 1985, according to the Census Bureau, the U.S. exported $3.8557 billion in goods to China and imported 3.8617 billion back—running a deficit of only $6,000,000. By 1995, the U.S. was exporting $11.7537 billion from China while importing $45.5432 billion—running a deficit of $33.7895.

By 2005, the U.S. was exporting $41.1920 billion to China while importing 243.4701 billion from China—running a deficit of $202.2781 billion. In 2015, the Census Bureau reported Friday, the U.S. exported $116.1863 in goods to China while importing $481.8808 billion—running a merchandise trade deficit with China of $365.6945 billion. Even when the historical annual merchandise trade deficits that the U.S. has run with China are adjusted for inflation and put in constant 2015 dollars using the Bureau of Labor Statistics inflation calculator, the $365.6945 billion merchandise trade deficit the U.S. ran with China last year is still the largest recorded by the Census Bureau.

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