Barrack Obama to reduce size of government

[DavidS]

Let's see the conservatives spin this one negatively.........

Obama To Ask Agency Heads For Budget Cuts

WASHINGTON — President Barack Obama said Saturday he will ask all of his department and agency heads for specific proposals for cutting their budgets at his Cabinet meeting early next week as he searches for ways to streamline [COLOR=#038258 ! important][COLOR=#038258 ! important]government [COLOR=#038258 ! important]spending[/COLOR][/COLOR][/COLOR].
Obama, who is attending the Summit of the Americas in Trinidad this weekend, said in his weekly radio and Internet address that he would make the request for cuts Monday at a Cabinet meeting.
"In the coming weeks, I will be announcing the elimination of dozens of government programs shown to be wasteful or ineffective," he said. "In this effort, there will be no sacred cows and no pet projects. All across America, families are making hard choices, and it's time their government did the same."

 

[mash107]

$3T dollar deficit = not a reduction of government size.

 

[DavidS]

$3T dollar deficit = not a reduction of government size.

That is a highly inaccurate chart. Not even the CBO projects that.

 

[RetiredGySgt]

$3T dollar deficit = not a reduction of government size.

That is a highly inaccurate chart. Not even the CBO projects that.

Bull they have stated that if Obama does as planned he will triple the deficit.

 

[DavidS]

$3T dollar deficit = not a reduction of government size.

That is a highly inaccurate chart. Not even the CBO projects that.

Bull they have stated that if Obama does as planned he will triple the deficit.

And the both of you are completely ignoring the article which says that Obama is reducing wasteful government spending..........

 

[Skull Pilot]

It only counts if those "cuts" result in a commensurate reduction in taxes. If the government cuts a program that is "inefficient" only to allocate those funds to expand a department that is less inefficient, has the size of government actually been reduced?

 

[007]

No spin needed. The drunken spending orgy going on by the democraps has exceeded anything seen like it in the history of America, by a factor of ten. hussein saying he's going to reduce the size of government is like pouring a cup of gasoline on a forest fire. It's like owing someone a million dollars and paying them back a buck, and thinking the debt is paid. obama is a shyster and a con man, and it's painfully evident, NOT smart enough to run this country.

 

[Care4all]

If all related to TARP and the recession bailout is taken OUT of the equation... what would the deficit be for all else, is the only measure that could fairly be used to compare whether government departments are shrinking or not? imo

 

[DavidS]

It only counts if those "cuts" result in a commensurate reduction in taxes. If the government cuts a program that is "inefficient" only to allocate those funds to expand a department that is less inefficient, has the size of government actually been reduced?

It depends on how much of the government has been reduced and how much has been enlarged. If Obama reduces the government by 25% with these cuts, and increases the size of the government by 10% with other increases, then yes, the size has been reduced.

 

[Skull Pilot]

If all related to TARP and the recession bailout is taken OUT of the equation... what would the deficit be for all else, is the only measure that could fairly be used to compare whether government departments are shrinking or not? imo

Government spending is government spending. The more the government spends, by necessity, the bigger government gets. It is impossible to increase government spending and reduce its size.

 

[DavidS]

If all related to TARP and the recession bailout is taken OUT of the equation... what would the deficit be for all else, is the only measure that could fairly be used to compare whether government departments are shrinking or not? imo

TARP and bailout is 2008-2009 budget passed under Bush.

The budget that was just passed was 2009-2010.

 

[Skull Pilot]

It only counts if those "cuts" result in a commensurate reduction in taxes. If the government cuts a program that is "inefficient" only to allocate those funds to expand a department that is less inefficient, has the size of government actually been reduced?

It depends on how much of the government has been reduced and how much has been enlarged. If Obama reduces the government by 25% with these cuts, and increases the size of the government by 10% with other increases, then yes, the size has been reduced.

But that is not what's happening is it. The federal government is hiring more people. And what part of your ass did you pull that figure of 25% out of?

If the cost of government is not reduced, the size is not reduced. The only way to reduce the size of government is to not only reduce the number of agencies but to make sure the money that was funding those agencies cannot be used elsewhere.

 

[Iriemon]

$3T dollar deficit = not a reduction of government size.

No, it is avoiding a potential depression Obama inhereted.

Source for your data?

 

[Care4all]

Is this chart implying that we will overspend by 3 trillion dollars in 2009?

It was my understanding that the CBO found that OVER THE NEXT 10 YEARS if nothing changes, the USA will overspend by 3 trillion dollars or something like that?

Can we have a LINK for the chart above please, so we can decipher what the chart is telling us...

thanks,

Care

 

[mash107]

$3T dollar deficit = not a reduction of government size.

No, it is avoiding a potential depression Obama inhereted.

Source for your data?

It is creating a depression from a mild recession that Obama inherited, that was, itself created by excessive spending and debt. You can't borrow yourself out of bankruptcy.

CBO and http://caseyresearch.com/

 

[Iriemon]

Is this chart implying that we will overspend by 3 trillion dollars in 2009?

It was my understanding that the CBO found that OVER THE NEXT 10 YEARS if nothing changes, the USA will overspend by 3 trillion dollars or something like that?

Can we have a LINK for the chart above please, so we can decipher what the chart is telling us...

thanks,

Care

I'm pretty sure the OBM baseline includes stimulus spending, and the chart is double accounting. But I'll have to check later.

 

[DavidS]

$3T dollar deficit = not a reduction of government size.

No, it is avoiding a potential depression Obama inhereted.

Source for your data?

It is creating a depression from a mild recession that Obama inherited, that was, itself created by excessive spending and debt. You can't borrow yourself out of bankruptcy.

CBO and Casey Research | Visitor Home Page

These numbers are way off and are completely and totally biased.

A mild recession????

Our economy nearly collapsed. Our 4th quarter GDP was down over 6%. A mild recession is what we saw after 9/11. This is the worst economic crisis since the Great Depression.

And yes, Obama DID inherit this recession. But the recession wasn't, as far as I know, Bush's fault. It was the collective fault of hundreds of people who got greedy and decided to sell these mortgages as securities overseas. Thus, if someone paid a $250,000 mortgage in full, these securities could give you 4x the return. So banks invested in it, trading firms invested in it, hedge funds invested in... it was the perfect storm. And then in 2007, it collapsed due to record interest rates, rising gas prices, and banks approving everybody and their uncle for a home loan that couldn't approve it.

Absolutely no one in politics is responsible for this mess.

 

[007]

Over 200 NEW government agencies were CREATED in the massive 800 BILLION dollar spending orgy by the democraps. For hussein to now say he wants to reduce the size of government is one of biggest jokes I've ever heard in my life. What kind of an idiot even listens to such bull shit as if it's legitimate?

 

[Meister]

Obama Likely to Need to Hire Tens of Thousands of Federal Workers to Fulfill Budget Goals - washingtonpost.com

I think this article puts everything into perspective.

 

[mash107]

No, it is avoiding a potential depression Obama inhereted.

Source for your data?

It is creating a depression from a mild recession that Obama inherited, that was, itself created by excessive spending and debt. You can't borrow yourself out of bankruptcy.

CBO and Casey Research | Visitor Home Page

These numbers are way off and are completely and totally biased.

A mild recession????

Our economy nearly collapsed. Our 4th quarter GDP was down over 6%. A mild recession is what we saw after 9/11. This is the worst economic crisis since the Great Depression.

And yes, Obama DID inherit this recession. But the recession wasn't, as far as I know, Bush's fault. It was the collective fault of hundreds of people who got greedy and decided to sell these mortgages as securities overseas. Thus, if someone paid a $250,000 mortgage in full, these securities could give you 4x the return. So banks invested in it, trading firms invested in it, hedge funds invested in... it was the perfect storm. And then in 2007, it collapsed due to record interest rates, rising gas prices, and banks approving everybody and their uncle for a home loan that couldn't approve it.

Absolutely no one in politics is responsible for this mess.

Mild in comparison to what's it going to turn out to be.

An inflationary depression (think Wiemar Republic, Zimbabwe, Argenitina, etc) will result unless spending is stopped. You can't just print $3T and not expect inflationary results.

Yes, the bubble formed because of the easy credit that artificially boosts demand. The same reason college prices are so high are why home prices went abnormally high. If everyone gets a low interest loan, that means more people can buy it than could before this interference, and so quantity demanded goes up as does price. That signals to the market that more needs to be built, and that's why we have more colleges per capita than anywhere in the world as well as 19 million unoccupied homes. The Federal Reserve really screwed our pooch on this one.