Speaking of Bankruptcy...Obama's Budget Puts America on Course to Bankruptcy

[ScreamingEagle]

March 30

This week, debate begins on Obama's first budget. The budget can easily be described as more of the same. The same socialist philosophy that Obama is using to put companies under government control and spend money according to Washington's will and not the people's will is also being used to craft this next budget.

Tax and spend, tax and spend, tax and spend. That's what the Obama budget will do, except that it will spend unlike any budget in the history of the country. America has always been a nation that puts faith in the strength, intelligences, and resilience of its citizens. Those days appear to be over as the only thing Obama has faith in is more government.


Sen. Judd Gregg (R-NH) spoke out this weekend against the Obama budget. As noted in GOP says Obama budget threatens future prosperity, Gregg summed up the Republican vision for government by saying, "We believe you create prosperity by having an affordable government that pursues its responsibilities without excessive costs, taxes or debt."

Gregg went on to state, "In the next five years, President Obama's budget will double the national debt. In the next 10 years, it will triple the national debt."

That's right... we can talk about the spending done during George W. Bush's presidency, but you can take that debt and ALL the debt accumulated by ALL the past presidents, and Obama will double it in five years. He will triple it in ten years. That is change we do NOT believe in, and it is a burden that America cannot afford.

The Heritage Foundation has provided a useful analysis of the Obama budget. In the report, author Brian Riedl notes that in addition to the billions and billions already spent on bailouts, Obama's budget sets aside $250 billion for yet another financial bailout. Then, the Obama plan would raise taxes an estimated $1.4 trillion over the next ten years.

Oh, and here is a good one... According to the Heritage Foundation, Obama's budget calls for a "pay as you go" law, but his budget would violate it by $3.4 trillion.

GOPUSA - The Loft

 

[Old Rocks]

LOL. Obama is trying to correct an economic debacle created by the Republicans. If he fails, and that may well happen, we will see the Second Great Republican Depression. Thus far, all the Republicans have offered, after creating the situation, is more tax cuts for the very wealthy.

 

[xsited1]

This article caught my attention the other day.

How to Turn a Recession into a Depression

Four federal economic policies transformed the Hoover recession into the Great Depression: higher tariffs, stronger unions, higher marginal tax rates, and a lower money supply. President Obama, unfortunately, has endorsed some variant of the first three of these policies, and he will face a critical choice on monetary policy in a year or so.

 

[Sinatra]

March 30

This week, debate begins on Obama's first budget. The budget can easily be described as more of the same. The same socialist philosophy that Obama is using to put companies under government control and spend money according to Washington's will and not the people's will is also being used to craft this next budget.

Tax and spend, tax and spend, tax and spend. That's what the Obama budget will do, except that it will spend unlike any budget in the history of the country. America has always been a nation that puts faith in the strength, intelligences, and resilience of its citizens. Those days appear to be over as the only thing Obama has faith in is more government.


Sen. Judd Gregg (R-NH) spoke out this weekend against the Obama budget. As noted in GOP says Obama budget threatens future prosperity, Gregg summed up the Republican vision for government by saying, "We believe you create prosperity by having an affordable government that pursues its responsibilities without excessive costs, taxes or debt."

Gregg went on to state, "In the next five years, President Obama's budget will double the national debt. In the next 10 years, it will triple the national debt."

That's right... we can talk about the spending done during George W. Bush's presidency, but you can take that debt and ALL the debt accumulated by ALL the past presidents, and Obama will double it in five years. He will triple it in ten years. That is change we do NOT believe in, and it is a burden that America cannot afford.

The Heritage Foundation has provided a useful analysis of the Obama budget. In the report, author Brian Riedl notes that in addition to the billions and billions already spent on bailouts, Obama's budget sets aside $250 billion for yet another financial bailout. Then, the Obama plan would raise taxes an estimated $1.4 trillion over the next ten years.

Oh, and here is a good one... According to the Heritage Foundation, Obama's budget calls for a "pay as you go" law, but his budget would violate it by $3.4 trillion.

GOPUSA - The Loft

Yes -there is an alarming disconnect between the word of Obama, and the reality of Obama.

Though disconnect might not due this situation justice - perhaps chasm is more appropriate...

 

[Old Rocks]

Sure fellows. But the American People will know it as the Second Great Republican Depression. And rightly so.

 

[Zoom-boing]

Actions speak louder than words. They cost more too. Couple of trillion, give or take, seems about right.

 

[xsited1]

Sure fellows. But the American People will know it as the Second Great Republican Depression. And rightly so.

GWB inherited the Clinton recession and Obama inherited the Bush recession, but if we fall into a depression, Obama and the Democratically-controlled Congress will have to take all the blame.

 

[Zoom-boing]

Sure fellows. But the American People will know it as the Second Great Republican Depression. And rightly so.

No, YOU will always refer to it as that. This massive, gluttonous spending is on Obama.

<cue the whining in 5, 4, 3, 2, 1: but BUSH started it!>

 

[Immanuel]

LOL. Obama is trying to correct an economic debacle created by the Republicans. If he fails, and that may well happen, we will see the Second Great Republican Depression. Thus far, all the Republicans have offered, after creating the situation, is more tax cuts for the very wealthy.

I won't disagree with you that it started under President Bush's watch or that President Bush didn't have his hand in causing the problem, but, this is not ONLY President Bush's fault. Congress with their spend, spend, spend, and spend some more attitude is largely to blame. The blame rests on the shoulders of both parties.

Now, you can sit there and blame President Bush all you want, but, I'm laying the blame on the laps of every Congressman and Senator for at least the last 30 years.

I think President Obama is trying to do what he thinks is right. Unfortunately, I believe that if Congress doesn't bite the bullet and quit spending, we're in a world of hurt.

Immie

 

[elvis]

LOL. Obama is trying to correct an economic debacle created by the Republicans. If he fails, and that may well happen, we will see the Second Great Republican Depression. Thus far, all the Republicans have offered, after creating the situation, is more tax cuts for the very wealthy.

yup Chris Dodd and Rahm Emanuel are republicans.

stupid fuck.

 

[elvis]

Sure fellows. But the American People will know it as the Second Great Republican Depression. And rightly so.

GWB inherited the Clinton recession and Obama inherited the Bush recession, but if we fall into a depression, Obama and the Democratically-controlled Congress will have to take all the blame.

nope. old rock will never hold the Messiah accountable.

 

[Yurt]

obama is a whiner and a liar....the buck stops with him he said...if he didn't want the responsibility then he should have run for office

he constant whining about everything being bush's fault is lame...what a great display of leadership

 

[elvis]

Sure fellows. But the American People will know it as the Second Great Republican Depression. And rightly so.

It hasn't even been classified as a DEPRESSION. so STFU about it.

 

[editec]

This article caught my attention the other day.

How to Turn a Recession into a Depression

Four federal economic policies transformed the Hoover recession into the Great Depression: higher tariffs, stronger unions, higher marginal tax rates, and a lower money supply. President Obama, unfortunately, has endorsed some variant of the first three of these policies, and he will face a critical choice on monetary policy in a year or so.

Much of American was already in a DEPRESION long before the stock market crashed.

Very much like this latest depression, actually.

 

[xsited1]

This article caught my attention the other day.

How to Turn a Recession into a Depression

Four federal economic policies transformed the Hoover recession into the Great Depression: higher tariffs, stronger unions, higher marginal tax rates, and a lower money supply. President Obama, unfortunately, has endorsed some variant of the first three of these policies, and he will face a critical choice on monetary policy in a year or so.

Much of American was already in a DEPRESION long before the stock market crashed.

Very much like this latest depression, actually.

If that's the case, the next step is bankruptcy. I guess that's why Obama is spending trillions of dollars that we don't have.

 

[WillowTree]

Sure fellows. But the American People will know it as the Second Great Republican Depression. And rightly so.

I love it when a DUmmie so arrogantly speaks for 350 million people! That's how we know they are real DUmmies!