When Does Obama's Plan Balance the Budget? Hoyer: 'I Don't Know'

[Stephanie]

lovely
links in article at site

SNIP:



By Elizabeth Harrington

November 30, 2012

(CNSNews.com) – House Minority Whip Steny Hoyer (D-Md.) said he does not know when President Barack Obama’s plan for the fiscal cliff will balance the federal budget.

“The President’s proposition was that—on the revenue side—to balance the spending cuts we needed to raise additional revenues,” Hoyer said during a Capitol Hill pen and pad briefing with reporters on Friday. “We are now collecting revenues at about 15 percent and spending at about 22 percent of GDP [Gross Domestic Product].”

“You can’t do that for very long,” he said. “Even the richest country on the face of the earth can’t do that forever without having serious adverse consequences.”

“Almost everybody you speak to says you’ve got to bring those into balance,” Hoyer said.

However, when CNSNews.com asked the second-ranking Democrat in the House when the president will achieve that balance, Hoyer said he did not know.

CNSNews.com asked: “You said that we have to bring spending and revenue into balance. So, when does President Obama’s plan, specifically—what year—does he balance the federal budget?”

“I don’t know the answer to that question,” Hoyer said. “If it’s the $4 trillion and it’s the percentage of GDP that he arrives at.”

“Do you have any idea what percentage of GDP they would be balanced at?” CNSNews.com then asked.

“Uh, James [Leuschen, senior policy adviser] is not in the room, is he?” he said. “I’m sorry, I don’t know. I can get that for you.”

The federal government collected $2.4 trillion in revenue in FY 2012—which ended Sept. 30—or 15.8 percent of GDP. Spending accounted for 22.8 percent of GDP at $3.5 trillion, according to the Congressional Budget Office. This is the fourth year in a row where the deficit topped $1 trillion.

Thursday on Capitol Hill, Treasury Secretary Timothy Geithner, negotiating on behalf of the president to avert the so-called fiscal cliff, proposed $1.6 trillion in tax hikes and at least $50 billion in additional stimulus spending.


all of it here with comments
When Does Obama's Plan Balance the Budget? Hoyer: 'I Don't Know' | CNS News

 

[Rozman]

And they don't care...

 

[CrusaderFrank]

See why Pravda called them "illiterate"?

 

[CrusaderFrank]

They embrace a failed economic ideology that is causing destitution in Europe, and has been abandoned by the ChiComs, Russians, Vietnamese and now the Cubans

 

[NYcarbineer]

No one can predict when a budget will be balanced. Of course he doesn't know.

 

[Oldstyle]

Hoyer actually DOES know the answer to that question...he just won't give it.

In a nutshell, President Obama does not HAVE a plan to lower the deficit...nor has he EVER had a plan to do that. His stated goal to raise taxes on the wealthy had only one real goal and that was his reelection for another four years by conning the electorate into thinking that raising taxes on SOMEONE ELSE would fix our fiscal problems. Hoyer knows that...hence the major league "waffle".

 

[midcan5]

As retardation continues to plague the minds of the right in America proof of the failure of their policies lost them the election, the senate, and several house seats. It would seem stupidity, once embedded in an American conservative is terminal. Austerity policies have failed since the great depression and they will always fail. You cannot make something grow when there is no nutrient. It is the same with economies. Europe is proving again dumbness has lots of adherents. And so it goes. A few pieces below for those who want America to move forward and not die under republican intransigence.

"As economic adversity continues to spread, from Athens to Madrid, London to the Beltway, austerity has become a most dangerous idea. What now dominates the world is the popular theory that if countries just tighten their belts, strong growth and lower unemployment will soon follow. It is the opposite of the Keynesian lessons learned from the Great Depression and is supported by neither historical nor empirical evidence. The world’s leading economic commentators, Nobel Laureate Paul Krugman of the New York Times and Martin Wolf of the Financial Times, have regularly railed against austerity, but to little avail. Advocates of austerity in Western Europe have claimed that it would rapidly reduce budget deficits and calm financial markets. Instead, it has failed in every country in which it has been applied." 'The Austerity Myth' By Jeff Madrick Harper's Magazine

"Wealth inequality. This is now at levels unprecedented in modern history, the greatest gap between rich and poor since the Great Depression. The Occupy movement's "one-percent" rhetoric is easy to deride, and their lack of concrete policy easy to dismiss, but there is no arguing with the numbers, Taking the extreme but leading example of the United States, one finds that the richest fifth of the population controls 85% of the country's wealth, while the poorest fifth controls an amount so much lower than one percent that it registers statistically as zero. Despite these facts, people remain confused about the realities of wealth distribution: in surveys a majority of Americans regularly report their belief that the top quintile controls only 60%, and further reported that the fair figure would be closer to 35%-that is, fully 50 points below the actual distribution, and against a background of commitment to free enterprise, individual effort, and success." Mark Kingwell 'Unruly Voices: Essays on Democracy, Civility and the Human Imagination'

 

[Stephanie]

oh boy...^^^^^^^

 

[CrusaderFrank]

As retardation continues to plague the minds of the right in America proof of the failure of their policies lost them the election, the senate, and several house seats. It would seem stupidity, once embedded in an American conservative is terminal. Austerity policies have failed since the great depression and they will always fail. You cannot make something grow when there is no nutrient. It is the same with economies. Europe is proving again dumbness has lots of adherents. And so it goes. A few pieces below for those who want America to move forward and not die under republican intransigence.

"As economic adversity continues to spread, from Athens to Madrid, London to the Beltway, austerity has become a most dangerous idea. What now dominates the world is the popular theory that if countries just tighten their belts, strong growth and lower unemployment will soon follow. It is the opposite of the Keynesian lessons learned from the Great Depression and is supported by neither historical nor empirical evidence. The world’s leading economic commentators, Nobel Laureate Paul Krugman of the New York Times and Martin Wolf of the Financial Times, have regularly railed against austerity, but to little avail. Advocates of austerity in Western Europe have claimed that it would rapidly reduce budget deficits and calm financial markets. Instead, it has failed in every country in which it has been applied." 'The Austerity Myth' By Jeff Madrick Harper's Magazine

"Wealth inequality. This is now at levels unprecedented in modern history, the greatest gap between rich and poor since the Great Depression. The Occupy movement's "one-percent" rhetoric is easy to deride, and their lack of concrete policy easy to dismiss, but there is no arguing with the numbers, Taking the extreme but leading example of the United States, one finds that the richest fifth of the population controls 85% of the country's wealth, while the poorest fifth controls an amount so much lower than one percent that it registers statistically as zero. Despite these facts, people remain confused about the realities of wealth distribution: in surveys a majority of Americans regularly report their belief that the top quintile controls only 60%, and further reported that the fair figure would be closer to 35%-that is, fully 50 points below the actual distribution, and against a background of commitment to free enterprise, individual effort, and success." Mark Kingwell 'Unruly Voices: Essays on Democracy, Civility and the Human Imagination'

"Recently, Obama has been re-elected for a 2nd term by an illiterate society and he is ready to continue his lies of less taxes while he raises them." Pravda, after reading the abovw

 

[CrusaderFrank]

Austerity? The USA is suffering from Obama Austerity?

Illiterate is far too kind, Progressives are plain fucking stupid

 

[Oldstyle]

As retardation continues to plague the minds of the right in America proof of the failure of their policies lost them the election, the senate, and several house seats. It would seem stupidity, once embedded in an American conservative is terminal. Austerity policies have failed since the great depression and they will always fail. You cannot make something grow when there is no nutrient. It is the same with economies. Europe is proving again dumbness has lots of adherents. And so it goes. A few pieces below for those who want America to move forward and not die under republican intransigence.

"As economic adversity continues to spread, from Athens to Madrid, London to the Beltway, austerity has become a most dangerous idea. What now dominates the world is the popular theory that if countries just tighten their belts, strong growth and lower unemployment will soon follow. It is the opposite of the Keynesian lessons learned from the Great Depression and is supported by neither historical nor empirical evidence. The world’s leading economic commentators, Nobel Laureate Paul Krugman of the New York Times and Martin Wolf of the Financial Times, have regularly railed against austerity, but to little avail. Advocates of austerity in Western Europe have claimed that it would rapidly reduce budget deficits and calm financial markets. Instead, it has failed in every country in which it has been applied." 'The Austerity Myth' By Jeff Madrick Harper's Magazine

"Wealth inequality. This is now at levels unprecedented in modern history, the greatest gap between rich and poor since the Great Depression. The Occupy movement's "one-percent" rhetoric is easy to deride, and their lack of concrete policy easy to dismiss, but there is no arguing with the numbers, Taking the extreme but leading example of the United States, one finds that the richest fifth of the population controls 85% of the country's wealth, while the poorest fifth controls an amount so much lower than one percent that it registers statistically as zero. Despite these facts, people remain confused about the realities of wealth distribution: in surveys a majority of Americans regularly report their belief that the top quintile controls only 60%, and further reported that the fair figure would be closer to 35%-that is, fully 50 points below the actual distribution, and against a background of commitment to free enterprise, individual effort, and success." Mark Kingwell 'Unruly Voices: Essays on Democracy, Civility and the Human Imagination'

So "austerity" has failed? And spending much more than you take in has been a huge success? Care to point out for me the countries that illustrate this amazing economic miracle?

Gee, Paul Krugman thinks living within your means is a bad idea? And that spending lots more than you're making is the recipe for a healthy nation? I'm sorry, Midcan...but that's simply nonsense and anyone with half a brain and a balance sheet knows it. Krugman, to be kind, is an idiot.

 

[Wiseacre]

As retardation continues to plague the minds of the right in America proof of the failure of their policies lost them the election, the senate, and several house seats. It would seem stupidity, once embedded in an American conservative is terminal. Austerity policies have failed since the great depression and they will always fail. You cannot make something grow when there is no nutrient. It is the same with economies. Europe is proving again dumbness has lots of adherents. And so it goes. A few pieces below for those who want America to move forward and not die under republican intransigence.

"As economic adversity continues to spread, from Athens to Madrid, London to the Beltway, austerity has become a most dangerous idea. What now dominates the world is the popular theory that if countries just tighten their belts, strong growth and lower unemployment will soon follow. It is the opposite of the Keynesian lessons learned from the Great Depression and is supported by neither historical nor empirical evidence. The world’s leading economic commentators, Nobel Laureate Paul Krugman of the New York Times and Martin Wolf of the Financial Times, have regularly railed against austerity, but to little avail. Advocates of austerity in Western Europe have claimed that it would rapidly reduce budget deficits and calm financial markets. Instead, it has failed in every country in which it has been applied." 'The Austerity Myth' By Jeff Madrick Harper's Magazine

"Wealth inequality. This is now at levels unprecedented in modern history, the greatest gap between rich and poor since the Great Depression. The Occupy movement's "one-percent" rhetoric is easy to deride, and their lack of concrete policy easy to dismiss, but there is no arguing with the numbers, Taking the extreme but leading example of the United States, one finds that the richest fifth of the population controls 85% of the country's wealth, while the poorest fifth controls an amount so much lower than one percent that it registers statistically as zero. Despite these facts, people remain confused about the realities of wealth distribution: in surveys a majority of Americans regularly report their belief that the top quintile controls only 60%, and further reported that the fair figure would be closer to 35%-that is, fully 50 points below the actual distribution, and against a background of commitment to free enterprise, individual effort, and success." Mark Kingwell 'Unruly Voices: Essays on Democracy, Civility and the Human Imagination'

Totally off topic, why didn't you start your own thread with this?

 

[Wiseacre]

Answer to the OP's question is NEVER. Obama and the dems do not care one bit about the debt/deficits or balancing the budget. Never have, never will, they will mouth the words and do the opposite.

 

[AmericanFirst]

No one can predict when a budget will be balanced. Of course he doesn't know.

Dimwits never know. Hoyer has never known squat. He is a poster boy for the idiot left.

 

[AmericanFirst]

As retardation continues to plague the minds of the right in America proof of the failure of their policies lost them the election, the senate, and several house seats. It would seem stupidity, once embedded in an American conservative is terminal. Austerity policies have failed since the great depression and they will always fail. You cannot make something grow when there is no nutrient. It is the same with economies. Europe is proving again dumbness has lots of adherents. And so it goes. A few pieces below for those who want America to move forward and not die under republican intransigence.

"As economic adversity continues to spread, from Athens to Madrid, London to the Beltway, austerity has become a most dangerous idea. What now dominates the world is the popular theory that if countries just tighten their belts, strong growth and lower unemployment will soon follow. It is the opposite of the Keynesian lessons learned from the Great Depression and is supported by neither historical nor empirical evidence. The world’s leading economic commentators, Nobel Laureate Paul Krugman of the New York Times and Martin Wolf of the Financial Times, have regularly railed against austerity, but to little avail. Advocates of austerity in Western Europe have claimed that it would rapidly reduce budget deficits and calm financial markets. Instead, it has failed in every country in which it has been applied." 'The Austerity Myth' By Jeff Madrick Harper's Magazine

"Wealth inequality. This is now at levels unprecedented in modern history, the greatest gap between rich and poor since the Great Depression. The Occupy movement's "one-percent" rhetoric is easy to deride, and their lack of concrete policy easy to dismiss, but there is no arguing with the numbers, Taking the extreme but leading example of the United States, one finds that the richest fifth of the population controls 85% of the country's wealth, while the poorest fifth controls an amount so much lower than one percent that it registers statistically as zero. Despite these facts, people remain confused about the realities of wealth distribution: in surveys a majority of Americans regularly report their belief that the top quintile controls only 60%, and further reported that the fair figure would be closer to 35%-that is, fully 50 points below the actual distribution, and against a background of commitment to free enterprise, individual effort, and success." Mark Kingwell 'Unruly Voices: Essays on Democracy, Civility and the Human Imagination'

Stupid is a trait of the idiot lefty dimwit.

 

[usmcstinger]

The solution to this conundrum was seemingly simple: Replace the missing private investment with public investment, financed by deliberate deficits. The government would borrow money to spend on such things as public works; and that deficit spending, in turn, would create jobs and increase purchasing power. Striving to balance the government's budget during a slump would make things worse, not better. In order to make his argument, Keynes deployed a range of new tools -- standardized national income accounting (which led to the basic concept of gross national product), the concept of aggregate demand, and the multiplier (people receiving government money for public-works jobs will spend money, which will create new jobs). Keynes's analysis laid the basis for the field of macroeconomics, which treats the economy as a whole and focuses on government's use of fiscal policy -- spending, deficits, and tax. These tools could be used to manage aggregate demand and thus ensure full employment. As a corollary, the government would cut back its spending during times of recovery and expansion. 
Commanding Heights : Keynesian Economic Theory | on PBS

This has and continues to be Obama's attitude toward our Budget Deficit and our economy in general.

This is the same Economic Theory that has brought Europe close to economic ruin.
Most have reverted back to reducing taxes on individuals and corporations.

 

[midcan5]

As retardation continues to plague the minds of the right in America proof of the failure of their policies lost them the election, the senate, and several house seats. It would seem stupidity, once embedded in an American conservative is terminal. Austerity policies have failed since the great depression and they will always fail. You cannot make something grow when there is no nutrient. It is the same with economies. Europe is proving again dumbness has lots of adherents. And so it goes. A few pieces below for those who want America to move forward and not die under republican intransigence.

"As economic adversity continues to spread, from Athens to Madrid, London to the Beltway, austerity has become a most dangerous idea. What now dominates the world is the popular theory that if countries just tighten their belts, strong growth and lower unemployment will soon follow. It is the opposite of the Keynesian lessons learned from the Great Depression and is supported by neither historical nor empirical evidence. The world’s leading economic commentators, Nobel Laureate Paul Krugman of the New York Times and Martin Wolf of the Financial Times, have regularly railed against austerity, but to little avail. Advocates of austerity in Western Europe have claimed that it would rapidly reduce budget deficits and calm financial markets. Instead, it has failed in every country in which it has been applied." 'The Austerity Myth' By Jeff Madrick Harper's Magazine

"Wealth inequality. This is now at levels unprecedented in modern history, the greatest gap between rich and poor since the Great Depression. The Occupy movement's "one-percent" rhetoric is easy to deride, and their lack of concrete policy easy to dismiss, but there is no arguing with the numbers, Taking the extreme but leading example of the United States, one finds that the richest fifth of the population controls 85% of the country's wealth, while the poorest fifth controls an amount so much lower than one percent that it registers statistically as zero. Despite these facts, people remain confused about the realities of wealth distribution: in surveys a majority of Americans regularly report their belief that the top quintile controls only 60%, and further reported that the fair figure would be closer to 35%-that is, fully 50 points below the actual distribution, and against a background of commitment to free enterprise, individual effort, and success." Mark Kingwell 'Unruly Voices: Essays on Democracy, Civility and the Human Imagination'

"Recently, Obama has been re-elected for a 2nd term by an illiterate society and he is ready to continue his lies of less taxes while he raises them." Pravda, after reading the abovw

The irony of this must be lost on the poster - communist propaganda now informs the minds of the conservative American of the right. There are no words to describe retardation at this level, nor the irony. Stupid hardly touches the right today, we'll soon need a new vocabulary of dumb.

"Conservatives thrive on a world filled with mysterious evil and unfathomable hatreds, where good is always on the defensive and time is a precious commodity in the cosmic race against corruption and decline." Corey Robin 'The Reactionary Mind'

 

[Stephanie]

As retardation continues to plague the minds of the right in America proof of the failure of their policies lost them the election, the senate, and several house seats. It would seem stupidity, once embedded in an American conservative is terminal. Austerity policies have failed since the great depression and they will always fail. You cannot make something grow when there is no nutrient. It is the same with economies. Europe is proving again dumbness has lots of adherents. And so it goes. A few pieces below for those who want America to move forward and not die under republican intransigence.

"As economic adversity continues to spread, from Athens to Madrid, London to the Beltway, austerity has become a most dangerous idea. What now dominates the world is the popular theory that if countries just tighten their belts, strong growth and lower unemployment will soon follow. It is the opposite of the Keynesian lessons learned from the Great Depression and is supported by neither historical nor empirical evidence. The world’s leading economic commentators, Nobel Laureate Paul Krugman of the New York Times and Martin Wolf of the Financial Times, have regularly railed against austerity, but to little avail. Advocates of austerity in Western Europe have claimed that it would rapidly reduce budget deficits and calm financial markets. Instead, it has failed in every country in which it has been applied." 'The Austerity Myth' By Jeff Madrick Harper's Magazine

"Wealth inequality. This is now at levels unprecedented in modern history, the greatest gap between rich and poor since the Great Depression. The Occupy movement's "one-percent" rhetoric is easy to deride, and their lack of concrete policy easy to dismiss, but there is no arguing with the numbers, Taking the extreme but leading example of the United States, one finds that the richest fifth of the population controls 85% of the country's wealth, while the poorest fifth controls an amount so much lower than one percent that it registers statistically as zero. Despite these facts, people remain confused about the realities of wealth distribution: in surveys a majority of Americans regularly report their belief that the top quintile controls only 60%, and further reported that the fair figure would be closer to 35%-that is, fully 50 points below the actual distribution, and against a background of commitment to free enterprise, individual effort, and success." Mark Kingwell 'Unruly Voices: Essays on Democracy, Civility and the Human Imagination'

"Recently, Obama has been re-elected for a 2nd term by an illiterate society and he is ready to continue his lies of less taxes while he raises them." Pravda, after reading the abovw

The irony of this must be lost on the poster - communist propaganda now informs the minds of the conservative American of the right. There are no words to describe retardation at this level, nor the irony. Stupid hardly touches the right today, we'll soon need a new vocabulary of dumb.

"Conservatives thrive on a world filled with mysterious evil and unfathomable hatreds, where good is always on the defensive and time is a precious commodity in the cosmic race against corruption and decline." Corey Robin 'The Reactionary Mind'

lol, you just described Democrat voters...and you should talk about "propaganda...that is all you post

 

[ba1614]

How can you balance a budget when haven't even passed one in nearly 4yrs?

 

[Stephanie]

How can you balance a budget when haven't even passed one in nearly 4yrs?

and this is the people they put back in charge of our country

how scary is that the VOTERS don't care