Obama's Debt Commission says stop the spending or we WILL go broke.

[Charles_Main]

washingtonpost.com

BOSTON -- The co-chairmen of President Obama's debt and deficit commission offered an ominous assessment of the nation's fiscal future here Sunday, calling current budgetary trends a cancer "that will destroy the country from within" unless checked by tough action in Washington.

"We can't grow our way out of this," Bowles said. "We could have decades of double-digit growth and not grow our way out of this enormous debt problem. We can't tax our way out. . . . The reality is we've got to do exactly what you all do every day as governors. We've got to cut spending or increase revenues or do some combination of that."

he also said this but I can not find a link. I just watched him say it.

Something like "we need to return to some form of Fiscal Sanity or we will go broke."

Obama and the Dems have added 2.7 Trillion to the Debt in only 18 Months. That is not even counting the Democrat congresses contribution to the Debt during the last 2 years of Bush. I know they increased Both Budgets Bush Submitted those years at least.

2.7 Trillion in 18 months people. PURE INSANITY.

And don't start with the "he had to do it because of Bush" BS. What he needed to do was CUT taxes and spending. Not raise taxes and spending.

Those assholes spent 2.7 Trillion dollars and we get nearly nothing out of it. No real jobs, No real growth, and a huge problem coming at us like a mac Truck.

Way to go Dems.

 

[Sinatra]

The Obama Dems will try and take this as a reason to initiate tax hikes an ALL Americans aka "crisis politics".

And the only real spending cuts will come from the defense budget.

A progressive political wet dream...

 

[blastoff]

Even the dumbshit Dimocrats are smart enough to know their spending is the problem. This commission b.s. is in the hopes it'll provide cover for Barry to break his word on taxes. It won't work though. He's a phony, lying bastard and anyone with half a brain knows it. And come November folks will have a chance to tell this clown and his cohorts how strongly they want change they can believe in.

 

[Cuyo]

From your article:

The commission leaders said that, at present, federal revenue is fully consumed by three programs: Social Security, Medicare and Medicaid.

These are mandatory spending programs. The President has no power to change any of them. Neither does he have power over interest on the debt or about $582B in other mandatory programs.

Total discretionary spending: $1.368T. Of that, $700-$900B is defense/military related. That leaves about $468-$668 (depending on how you tabulate "Defense spending") in non-defense discretionary spending.

The projected deficit this year, $1.17T.

Where should we start cutting?

 

[Pepe]

From your article:

The commission leaders said that, at present, federal revenue is fully consumed by three programs: Social Security, Medicare and Medicaid.

These are mandatory spending programs. The President has no power to change any of them. Neither does he have power over interest on the debt or about $582B in other mandatory programs.

Total discretionary spending: $1.368T. Of that, $700-$900B is defense/military related. That leaves about $468-$668 (depending on how you tabulate "Defense spending") in non-defense discretionary spending.

The projected deficit this year, $1.17T.

Where should we start cutting?

Your numbers are off just a tad.

Total expected revenue for FY 2010 from all sources, ie; Personal Income Tax, Corporate Income Tax, Payroll Taxes, Custom Duties and Excise taxes, is expected to be 2.4 Trillion.

The Big Four: Social Security, Medicare, Medicaid and Interest on the Debt will consume 2.2 - 2.3 Trillion of that total.

Obama's Defense Bill for FY 2010 is 806.1 Billion, the largest in history, but he got the Nobel Peace Prize.

But I digress.

Do the math.

My grandchildren are so effed.

 

[Cuyo]

From your article:

The commission leaders said that, at present, federal revenue is fully consumed by three programs: Social Security, Medicare and Medicaid.

These are mandatory spending programs. The President has no power to change any of them. Neither does he have power over interest on the debt or about $582B in other mandatory programs.

Total discretionary spending: $1.368T. Of that, $700-$900B is defense/military related. That leaves about $468-$668 (depending on how you tabulate "Defense spending") in non-defense discretionary spending.

The projected deficit this year, $1.17T.

Where should we start cutting?

Your numbers are off just a tad.

Total expected revenue for FY 2010 from all sources, ie; Personal Income Tax, Corporate Income Tax, Payroll Taxes, Custom Duties and Excise taxes, is expected to be 2.4 Trillion.

The Big Four: Social Security, Medicare, Medicaid and Interest on the Debt will consume 2.2 - 2.3 Trillion of that total.

Obama's Defense Bill for FY 2010 is 806.1 Billion, the largest in history, but he got the Nobel Peace Prize.

But I digress.

Do the math.

My grandchildren are so effed.

?? Your numbers don't dispute mine.

 

[Skull Pilot]

Bend over for the VAT

 

[william the wie]

Bend over for the VAT

Even the VAT is not the big problem. Try finding a doctor who is accepting new medicare/medicaid patients post UHC. Or if you prefer try to get a loan you really need now that TARP has been "paid back". The scheming of this administration is a consistent fail. If Obama managed to channel Reagan those policies too would fail under his appointees.

 

[Charles_Main]

Even the dumbshit Dimocrats are smart enough to know their spending is the problem. This commission b.s. is in the hopes it'll provide cover for Barry to break his word on taxes. It won't work though. He's a phony, lying bastard and anyone with half a brain knows it. And come November folks will have a chance to tell this clown and his cohorts how strongly they want change they can believe in.

Just one problem, well 2, First he has already broken his word on taxes. With the Health Care penalty which they argued is a tax already. He is going to break it again with A vat tax, and Cap and trade.

The other problem. The Debt Commission said. We can not grow OR TAX our way out of this, and suggests We Cut spending and Increase Revenue or some combination of Both. Notice he says we can no tax our way out of it, and then says we need to increase revenue. Meaning we need to Cut taxes to increase revenue, Because Higher taxes will simply make the Economic situation worse not better. Properly targeted Tax Cuts will increase economic activity and therefore revenue. That is what balanced the Budget under Clinton. A massive increase of Revenue Mainly from Increased economic Activity.

Cut Capitol Gains and Cut cooperate taxes and you will see a Massive increase in economic activity and revenue. Believe it or not. Every time we have cut the right taxes we have seen an increase in Revenue. The fact that most those times we also Spent way more so we didn't see a decrease in the Deficit is does not change the fact that Revenues were increased EACH TIME WE DID IT.