The Obama Budget, Higher Taxes, Higher Spending, and Higher Debt..

[AmericasBrave58]

Morning Bell: The Obama Budget: Higher Taxes, Higher Spending and More Debt | The Foundry: Conservative Policy News.



Oh!!!! yeah!!! i totally agree, with what this link says. When i read what it said, i was floored!!! The way things are going, and the looks of our budget, we will be screwed totally so.

 

[Neubarth]

Is it possible for Obama to spend us into Communism?

 

[The Rabbi]

We have to keep spending to avoid bankruptcy.

 

[Annie]

Seems to me that much worse headlines are looming in the future.

Obama’s deficits: Quite the rosy scenario | Kyle Wingfield

...But even the still-historic deficit levels projected in 2012-2015 may be too good to be true. What’s left unsaid, or at least buried in the budget documents, are these two things:

1. the White House assumes that the economy of 2011-2015 will be as hot as it was during the go-go years of the late 1990s — growing at least 3.5 percent a year for five straight years (a feat we didn’t accomplish during the ’80s or the ’90s); and

2. these growth figures depend on inflation remaining lower in the next decade than it was in the last decade, even though the Fed in the last couple of years has been creating money at an unprecedented rate.

Neither of these assumptions seems likely to come true. First, which industries are likely to replicate the growth that we saw, chiefly in information technology, in the late 1990s? Not “green” energy, not by a long shot.

Second, how exactly is the Fed going to rein in all of the dollars it’s been letting loose since the beginning of the housing crash? Even if Ben Bernanke & Co. time it just right, it’s probably impossible for them to keep inflation at the low levels that the Obama budget writers assume.

Even if inflation is just as benign as it was during the Bush administration, it’s likely to knock at least a percentage point off the GDP forecasts made by the Obama administration. That would put the economy on roughly the same growth trajectory as during the Bush years.

I’m not sure what exactly that would do to revenues, but I am sure that they would suffer somewhat. Some of our debt would become cheaper to service, but the history of devaluing one’s way to prosperity is not good. Deficits would widen accordingly.

Bottom line: As bleak a picture as the administration paints, things probably aren’t even that cheerful. There is no time to waste in cutting spending and the deficit.

 

[RetiredGySgt]

Ohh come now, All our Liberal buddies have been claiming Bush did it, so its fine that Obama does it. Bush doubled the deficit in 8 years and Obama will double it in 4, where is the problem?

China is going to stop loaning money so I assume we will just start printing more since HALF the next budget is deficit.

Where is Truthmatters to crow about the great days ahead?

 

[XXI Pium]

We have to keep spending to avoid bankruptcy.

Our federal government is already bankrupt, they're just putting our children's children in debt even further.

 

[Sinatra]

Rather remarkable isn't it?

A president is now an activist for a proposed budget that manages to raise taxes while also engaging in historical levels of deficit spending? Raise a trillion more in taxes but spend four times that amount in expenditures?

This is absolute insanity - even liberal America has to be recoiling from this degree of fiscal suicide...

 

[LA RAM FAN]

Morning Bell: The Obama Budget: Higher Taxes, Higher Spending and More Debt | The Foundry: Conservative Policy News.



Oh!!!! yeah!!! i totally agree, with what this link says. When i read what it said, i was floored!!! The way things are going, and the looks of our budget, we will be screwed totally so.

Obama is simply continuing what Bush got started.Both parties are corrupt.I highly suggest watching the video The Obama Deception if you got a couple hours.I got it right here in my link.