The Obama 2012 Budget Proposal

Discussion in 'Economy' started by Trajan, Feb 14, 2011.

  1. Trajan
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    Trajan conscientia mille testes

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    The President since the 1921 reshuffle/revamp of exec. and legislative procedural responsibilities etc. has presented a budget to congress the first Monday on feb. ( we missed that mark due to Egypt I guess) and a few other exceptions like last year when he had health care in his mind and congress didn’t press him so we have NO budget presented for implementations for this year.


    I am not going to post anything specific right now, I am still trying to read and digest whats is or not in the darn thing……..go research it yourself since everyone ( me you et al ) will use what they consider a friendly/informed site that will highlight their own areas of interest, since none of us will read the thing.

    BUT one thing appears to be sure; he has not addressed, the big ones..... this budget appears to be short of heft in the entitlement area. What are and is his plans for the biggies, defense, Medicare, SS etc.?

    anyway heres a link to the actual text....

    Obama Releases $3.73 Trillion Budget - WSJ.com
     
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  2. ScreamingEagle
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    ScreamingEagle Gold Member

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  3. Mr. H.
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    Mr. H. Diamond Member

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    Why, oh why would the POTUS single out one particular industry for $46 billion in tax increases?

    Maybe, as he proclaimed in his SOTU speech "they're just doing fine on their own".

    This shit didn't fly when the Dems were in control, yet he throws it out there again?
    One of the few industries that is booming, creating jobs, reducing the trade deficit, fattening local state and federal coffers, paying billions in taxes and royalties - and he wants to put the hammer down?

    WIN THE FUTURE!
     
  4. Foxfyre
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    Foxfyre Eternal optimist Gold Supporting Member Supporting Member

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    I haven't studied it in any detail yet but the early commentaries are that anything listed as 'savings' in the budget are an increase in taxes and fees. Anything touted as 'investment' is just more spending that will again almost certainly be mostly directed to paying off cronies and special interests.

    And the deficit reduction is always "the next year" or on down the line. His budget will reduce the deficit by x $$$$$ but over the next ten years.

    Meanwhile the current budget is projected to produce a $1.7 trillion deficit.
     
  5. Foxfyre
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    Foxfyre Eternal optimist Gold Supporting Member Supporting Member

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    Remember awhile back when the President announced he would lead by example by cutting the staff/cabinet budgets by $100,000?

    To put that in perspective, if the federal budget was $1,000, that $100,000 would translate to about 26 cents. That would leave the government about $999.74 to spend.

    We cannot continue this way. We either have to bite the bullet and take the deep cuts even if they hurt, or the national debt will soon exceed the GNP and we will be a bankrupt nation pretty much at the mercy of the whims of a world that doesn't like us vey much.
     
  6. editec
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    editec Mr. Forgot-it-All

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    It's too damned small to read.
     
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  7. Pepe
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    Pepe Senior Member

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    3.7T-1.65T=2.05T

    The Imperial Mandarins are only expecting to draw 2.05 Trillion in revenue from all sources for FY2012.

    Hell. If we didn't spend a dime on Social Security and DoD magically disappeared....we'd still be sloshing "red ink."

    Sad commentary on those who continue to vote for either of the two Socialist parties that comprise the Duopoly.
     
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  8. Toro
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    Toro Diamond Member

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    It's a big disappointment. They have to do more. Cutting the deficit by $1 trillion over a decade is small potatoes. We're going to have to elect serious politicians to get this done.
     
  9. mudwhistle
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    mudwhistle Diamond Member

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    15 new taxes for us, including a higher Death-tax, higher taxes on energy producers, and higher taxes on the insurance industry.

    All of those taxes will be placed in our laps.

    Yeah, but he gave us $13 bucks a pay period. Big whoop.
     
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  10. boedicca
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    boedicca Uppity Water Nymph Supporting Member

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    The big glaring bloated elephant in the room is that Entitlements plus Interest On The Debt are going to swamp any cuts in other areas.
     
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