Debt deluge: Here comes the $1.6 trillion flood of red ink
Peter Orszag blogs this morning about the newly unveiled, $3.8 trillion White House budget: “The Budget lays out a plan to put the country back on a sustainable fiscal path.”
Via the House Republicans, this is what the Obama administration’s idea of a “sustainable fiscal path” looks like:
***
The WSJ breaks the debt deluge down further:
President Barack Obama will propose on Monday a $3.8 trillion budget for fiscal 2011 that projects the deficit will shoot up to a record $1.6 trillion this year, but would push the red ink down to about $700 billion, or 4% of the gross domestic product, by 2013, according to congressional aides.
The deficit for the current fiscal year, which ends on Sept. 30, would eclipse last year’s $1.4 trillion deficit, in part due to new spending on a proposed jobs package. The president also wants $25 billion for cash-strapped state governments, mainly to offset their funding of the Medicaid health program for the poor.
The president’s $3.8 trillion budget will move deficit levels to an all-time high. The News Hub discusses the budget’s chance for passing Congress.
To get the deficit down by the middle of the decade, Mr. Obama will be relying on some cuts that have previously been proposed without success, on cooperation from a wary Congress and on a yet-to-be set up debt commission to suggest politically difficult choices.
At the same time, Mr. Obama is under pressure to address the country’s continued high unemployment rate. And he will propose increases in spending for priorities such as education and domestic scientific research. All of this raises questions about how much progress the president is likely to make in trying to fulfill his pledge to halve by 2013 the $1.3 trillion deficit he inherited.
During another brief, teleprompter-aided statement this morning, Obama lectured: “‘Changing spending as usual depends on changing politics as usual.”
Waiting…
***
Via C-SPAN, here is video of the behemoth budget being trucked in to Capitol Hill:
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I’m curious how a 3.8 trillion dollar budget is going to help unemployment. My guess is it won’t.
Hoax and chains.
He still doesn’t get it. We don’t need new government programs. Lower taxes, stop spending, and let the American people fix their lives themselves!
Obama jobs plan: Hire all the unemployed to work for the Government. Print money to pay them with.
/gag
Well, the good news is, looking at the graphs, we have found Al Gore’s Hockey Stick chart does in fact exist, just a different legend and labeling on the “Y” Coordinate.
“To build a more modern infrastructure, the Budget establishes a new $4 billion dollar National Infrastructure Innovation & Finance Fund to focus on infrastructure investments of national and regional significance.
To help put the nation at the top of the pack when it comes to the new clean energy economy, the Budget includes more than $6 billion in funding for clean energy technologies while also eliminating existing fossil fuel subsidies. And to continue our country’s proud, innovative history, the Budget invests $61.6 billion for civilian research and development – an increase of $3.7 billion, or 6.4 percent, over 2010 levels.”
This makes it even worse. This sounds like a presumption that Tax and Tax
Cap and Tradewill pass. The actual debt will be even higher than projected.Flyoverman: I literally almost dropped my coffee (something I would NEVER normally do) when I read that!
PRICELESS!
Clearly, the pres just doesn’t have the experience to realize that there are ways other than increasing government to address these problems.
February 2010: Not in the Black History Month
It’s a financial reference for all those Al Sharpton wannabe race reverends out there waiting to pounce.
And unfortunately it looks like the right end of the graph is the handle of the stick not the blade. Sigh.
I read that Barry is litterally spending more money than all the presidents since Washington – COMBINED!
“All of this raises questions about how much progress the president is likely to make in trying to fulfill his pledge to:”
halve by 2013 the $1.3 trillion deficit he inherited
close Gimo in one year….
show healthcare proceedings on C-span
……
……
……
Michelle could have an entire thread dedicated to this topic.
That’s a blueprint of a rollercoaster, right? It can’t possibly be the result of Teh One’s idiotic budgetary spending, can it?
This is absolute insanity. Only those of massive incompetence could have conjured up this disgusting mess. Are there any adults with IQs greater than the sum of their digits left in this poor sick government.
Leave it to Democrats: only in their way of thinking can a nation TRILLIONS in debt recover its fiscal solvency by spending TRILLIONS more! China has to be getting worried by now.
BTW: Doesn’t this administration get that blaming the previous one for our present fiscal state with the “we inherited” game, is getting old and makes them look they have no ideas or responsible plans about how to solve this current crisis?
Could someone please, please explain a statement I’ve been hearing for years on end: “these deficits are unsustainable”. When will they finally be “unsustainable” and what is going to happen to our economy once this happens? I wish someone would produce an article that details this scenerio.
Obviously, the pres. and congress don’t think the deficits are “unsustainable” or else they wouldn’t be submitting/approving budgets like this.
What needs to be highlighted is the difference between this years projections and the ones Obama produced last year.
This highlighting will uncover the absolute failure the Obama fiscal policy already is! Every day, someone needs to ask Obama to explain why there is such a difference.
My hope is that the elected officials who oppose raising the debt ceiling and challenge this budget will not contribute to it with their earmarks and pet projects. This is no time to be hypocrites.
It is time not only to talk that talk, but to walk that walk.
You can’t complain about spending and still spend.
Insane.
Debt deluge?
Yeah. Too bad Obama got elected. A shame that had to happen. Too bad there wasn’t another option. It’s a shame that all of the people who were part of the problem and weren’t part of the solution are now upset that everything that Obama brings with him are unfolding. I guess we can chalk this up to ‘Gee, next time, let’s try to keep a bad situation from becoming worse’ … again. I wonder if any of them are now regretting their actions back when we had a chance to keep Obama out.
Oh yeah. SHAMNESTY!!!!!!!!!
It’s amazing how the debt burden chart looks exactly like an inverted version of my 401K equity.
Anyone else catch the little dip downward in 2012? Just in time to snow voters with BS claims of reducing the budget.
One thing that should drive every voter out of his/her skull is how Dr. Utopia had the butt-f***’ing gall to denounce Bush/Cheney for their “reckless spending” during the 2008 campaign.
The Obambi/Reid/Pelosi troika deserves nothingless than lifetime incarceration for inter-genertational “Grand Theft – Nation”.
Obama: “Words, just words.”
(Rahm leans in and whispers)
Obama” Oh, I’m sorry, I meant, numbers, just numbers.”
(#20) Did you hear something? I thought I heard something. Hmmm, the peckergnats are out early this year.
Have you met my wife?
In other words, go watch a marx brothers movie
Is that how you’re going to punish me for not voting for McCain? Kewl!
I heard a Dem this morning saying we have to invest in order to grow the economy and generate wealth.
I thought, well I would like to grow my wealth so I need to invest. Problem is what money do I use to invest? I only have so much money period.
Investing in utopian dreams of green jobs may end up as money down the tubes. You can’t dictate that you want a green industry and put money into it and expect that it will take off.
It might, but it also may go right in the tank. Thats what investing is. Its risk. The riskier the investment, the larger the return but also the larger the chance of losing your shirt.
Why is the government allowed to undertake such a risky investment?
Oh, because its my money, not theirs.
It’s all just a joke, isn’t it.
What’s happening to our country is just one big joke, right?
Nah, it’s all good. Turbo Tim will just fire up the presses over at the mint. “How much ya need, Barry?”
No. Though I am sure she is a lovely woman.
Have you met my cousin?
He’s asleep on the sofa right now. He did not vote, complains about all politicians, drinks my bourbon and beer, and doesn’t work.
He is hardly lovely, but he is my favorite Aunt’s son, and she is a lovely woman.
Wow, where did that come from? But, thanks for letting me get it out.
— Chris Edwards is director of tax policy at the Cato Institute and manager of http://www.downsizinggovernment.org.
Last year’s budget included 700B TARP and 800B Stimulus expense which cost us 1.6T deficit.
So what is the justification for this year’s 1.6T deficit?
Also, does anyone know how the Government spends Trillion Dollars more than the tax receipts for a decade and still reduce the overall deficit?
I want to use that formula for my Family Budget.
No doubt that’s his plan, how many civilian corp. is that, to paraphrase “should be as big as the U.S. military.”
Looks like the new SS troops and I don’t mean the Secret Service.
Lock, load and get prepared,
Thomas,
I agree with you for the most part but the people you are chastising will not admit any involvement with helping Obama get elected or feel any responsibility for the consequences. Perot supporters don’t take any responsibility for helping Clinton get elected either. They support who they want to support. They get to vote the way they want. That doesn’t mean I have to agree with them either.
Those same people though may be working feverishly to get their agenda back on track and in so doing, block Obama from doing too much damage.
It appeared to be working with Democratic election losses mounting, but Obama, Nancy, & Harry are not heeding the call and are pressing forward with their plans. We could still suffer irreparable damage. Thats means the damage can not be fixed.
I was not willing to take that risk and would rather see the LOTE win. Others felt differently and we are where we are. I hope everyday that we can minimize the damage.
We will see how that decision works out. Obama is digging his own grave with his incompetence and may self mitigate any potential damage.
But its pretty scary IMHO.
That first chart says it all, doesn’t it?
Obama’s nothing but a continuation of the failed policies of his predecessors.
It’s time to take America back for her Constitution and start respecting the Founding Fathers’ vision.
If not us, then who?
If not now, then when?
RWR
http://www.rightwingrocker.com
It’s all of our hope.
Starting with the current occupant of the White House, who promised an end to earmarks and whose party (with his blessing) has offered nothing but since.
RWR
http://www.rightwingrocker.com
It’s not ignorance, it’s not happenstance. It is part of the plan to completely destroy America. O’Bambi has too many people telling him what the results will be, what the damage and dangers are from ALL of his actions. Control of our country is in the hands of America’s enemies.
My infant son has a toy piano with just four keys on it. He gets great pleasure from pressing just one of those keys over and over for what seems like an eternity.
You have no idea how annoying it is to hear that same one note over and over and over.
Can you relate, Thomas?
Pure insanity. Projecting non-existent “savings”? What did you save by not buying something? Is that savings recorded in your bank account? He is not only clueless but very dangerous.
I’m waiting for those of us here who made the mistake to admit that they were wrong, “John Doe.”
The first step in correcting a problem is to acknowledge that the problem exists.
If you don’t like that, then you can go play with your piano.
and then watch a three stoges marathon for all I care. Can you relate?
I’ll take a crack at it: our public debt becomes “unsustainable” when it leads to one of the following outcomes:
1. An attempt to “cancel out” the debt by letting the Dollar turn into Mickey Mouse currency via hyper-inflation. Sure, there may be some satisfaction in treating the Chinese like a bunch of chumps and turning the trillions we’ll owe them into worthless scrip; but that assumes that the Chinese (and everybody else to whom we owe) will just sit there and let us do that to them.
Does anybody believe that our foreign creditors will wait around for that to happen? Or will they just dump their “investments” in us and switch to other holdings, while adopting a new international currency? The Russians are already egging the Chinese on into doing something like this, right now.
And if that happens … welcome to The Weimar/Banana Republic of America, and the Next Great Depression. Trade wars, protectionism, 25%+ permanent unemployment and an America too broke to intervene when the Hugo Chavez’s, Vladmir Putins, Communist Chinese, middle-eastern Allahu-Akbar types and other wannabe little Napoleons around the world take advantage by aggression against their neighbors.
2. An attempt by the federal government to bail itself out by raising the funds needed to pay off scores of trillions of Dollars of debt (when you throw in the trillions of unfunded obligations in things like Social Security and MediCare). Translation: Tax the middle class into oblivion. If anyone thinks that the tea party movement is serious now, just wait until the feds try to make a go of it with a round of confiscatory taxes unlike anything we’ve ever seen or imagined.
Result: Hello, Second American Revolution; bye-bye, Federal Government. And who knows what will rise from the ashes. Bonus: just like #1 above, another Great Depression and all the international instability and opportunistic aggression by tyrants worldwide when the US can no longer afford to play Team America: World Police.
Bottom line: “unsustainable” = a country in which your children, and their children will live their whole lives in what historians will come to call “Post-Prosperity America;” a massive global economic dislocation and resultant political instability that leads to numerous major regional wars, some of them nuclear; and very possibly the extinguishing of our own experiment in “small-r” Republicanism as a form of government.
That’s what’s coming. And I’m not at all sure that we aren’t so close to the waterfall even now that there’s any way to stop it. The variable that has changed is that instead of trying to avoid going over the falls, Hope-a-Dope and the donks have instead pointed our bow right at the edge, gunned the motor, and shouted “Woo-hoo!” like Slim Pickens riding the H-Bomb in Dr. Strangelove.
There were several other options.
When you can seriously demonstrate that your pal McCain would have done any differently AND brought America out of her slumber, your argument might have merit.
However, with the Democrats and Republicans in cahoots, you were stuck with a choice between one progressive loser and another progressive loser if you were going to insist upon voting for one of the progressive parties.
It’s the progressivism that was the downfall of the Republican candidate in 2008, and it will be again in 2012 if that party continues to support progressivism.
It should be more obvious now than ever that these parties are both corrupt to the point where neither deserves a single vote from the people. The Tea Party movement is all that stands in the way of the Republicrats. Whichever chooses to properly respond to the movement shall get its votes. If neither does, then neither will get them.
The ball is in the court of the parties. They know what the we’re about. If they want our votes, they’ll choose appropriate candidate. If they don’t want them or don’t care, then they won’t.
If your guy loses, that’s not my problem. It’s yours. I did my civic duty and voted for an appropriate candidate. I’m quite happy with the end result of Obama in the White House. All this ancillary budget stuff just proves my point – that the more detraction from the Founders’ vision there is, the worse things are going to get. The worse things get, the more the people wake up. Once enough people wake up, progressivism, both the Democrat and Republican versions, is dead.
THAT is when the healing begins. Not one minute before.
So say goodbye to Republicanism as you know it, folks. It’s about to die its death, whether by bringing forth a more federalist model for itself, or by being outright replaced by either a more federalist party or simply by federalist voters who stand their ground. It’s up to the Republicans which one it is.
RWR
http://www.rightwingrocker.com
And yet again, the shameless self promoter doesn’t get it.
Back in 08, there were people who were part of the solution, and others who were part of the problem. And the will continue to be part of the problem and be as destructive to our goals in interests as the people who actually vote for the democrat.
And they still don’t get it.
– Actually, I voted for Perot in 1992, and I take full responsibility by that act for helping Clinton worm his way into the White House by a plurality. Which is why I’ll never indulge in third-party fantasies again.
Very true.
And 98.6 percent of the people voted for the problem instead of the solution.
Get off it already.
RWR
http://www.rightwingrocker.com
Though I do not find this surprising. I wonder why my office’s travel budget was cut 10%, when they are wasting so much money elsewhere.
The government way of doing things.
If the Chickens stop laying eggs, lets go de-horn all the Cows. That will teach those Chickens.
So those of us that held our nose get to read the same “told you so” drivel from you every blessed day just like the handful of third party voters.
Given the margin of victory and the number of third party votes, it would have made no difference if every third party voter had voted McCain.
So the question is: Why do you persist?
Do you expect to be taken seriously?
You still don’t get it.
What color is the sky in your world? You really do have a mental defect if you actually believe what you are typing here.
Well said. The concept of a “budget” implies some sort of restraint, i.e., operating within a budget. These goons have co-opted (or misappropriated, if you pardon the pun) the term and have no more intention of restraining themselves than I have of flying to the moon. The “budget” is their tool of destruction for America. Again, well put.
But…but…but if Bush hadn’t spent billions on an illegal war, poor ol’ Bama wouldn’t have to spend so much to get us out of the mess he inherited…… or something….
/sarc/
Their solution to problems they can’t figure out is to 1) blame someone else, then 2) form panels and committees, 3) throw money at it. Unfortunately, this problem will cause serious injury to the public and the economy. FDR and Hoover tried it, and it failed miserably. Doing the same thing won’t work either.
Oooohhhhh, I see. So I guess Louisiana and Nebraska aren’t getting anything special in Obamacare.
Take a look at your paycheck and then look at a paycheck from last year – see a difference in withholding? I personally am taking home 25 bucks less per pay period this year compared to last year.
No, you don’t get it.
John McCain will never be president.
Since the 2008 election is long gone, let’s talk about the future. The one that has John McCain watching from the sidelines. You know, the real world.
For “John Doe”:
This isn’t about McCain. This is about us. And the people here who are more destructive to us and our cause than the democrats.
Not sure which “us” you’re referring to, but am pretty sure whatever your omnipotent “solution” is doesn’t interest me.
*Sooner or later they will understand the concept of living on less than you make, like Dave Ramsey always says; Both parties have had a hand in this upcoming catastrophy, as Bush and the Repubs saddled this crushing debt up, but P-BO and his Communist Clown Cluster are sure intent on riding it over the cliff!
*The GOP has at present a golden opportunity, but knowing their inclinations, they will probably take a pass on the following: That they will vote against any and all spending increases, tax increases, steer clear of any and all earmarks, and fully endorse the Fair Tax; The Fair Tax may be the only way out of this mess, but since it actually works by empowering the people, don’t expect the Dems to support it.
And don’t forget Ralph Nader doing the same thing.
Michelle could write 2 or 3 more books on this topic….
More of the spend yourself into prosperity leads us only into bankruptcy. Why do sane people listen to this fool?
“Us” are the people who are making our problems worse, when we should be attempting to make our situation better. The “solution” involves keeping our nation’s deficit spending down, for starters. And the solution is doing everything within our power to keep democrats out of office so they are unable to do this and everything else destructive to our nation that they are doing.
And the solution is also not to delude ourselves into thinking that being harmful to our cause is actually helping our cause. And a lot of people here seem to get it. But a persistent few are determined to continue their destructive pattern. As well as wanting to turn a blind eye to the problem, and blaming the messenger.
We’re screwed… BIG TIME. We’re gonna end up like Venezuela and every other Latin American “republic” who spent their treasury away until inflation and hard times bit them in the a$$ (like Argentina).
“Investment” and deficits aren’t healthy for our economy when there are no jobs and this country produces nothing. Time for government to get out of the role of penalizing its citizens and companies for their success and let them grow, thrive and bring back the jobs that unions and regulatory practices took away.
This administration is really stuck on stupid.
Laughing on the outside, crying on the inside. I blame you and the impotent GOP. You don’t get it.
We’ve been down this road many times. Chastise away! You do not eradicate a cancer by adding (voting) more carcinogens!
At what point do we have to devalue to an Amero? That must be Soro’s real plan. The One is carrying it out. This fits well with Europe’s global Marxism plan for a united world. A New World Order.
Treason?
I have a tough time accepting this “Obama is trying to destroy America” thing. It is just not logical to me.
You don’t change your country by destroying it.
I think power is their goal but to have power over a worthless country is meaningless. In fact, A country like China may take us over and Obama would have no power.
I see Obama as a petulant child. He wants to do good and thinks he is but he is just wrong. He (and others) have this grand idea about how to right all the countrys ills and they think these ideas will work and will strengthen the country, not destroy it.
They have decades of Bill Ayers and Mao Se tung and Rev Wright filling their heads with this nonsense. They truly believe in it.
They lose sight that government will just go around in circles trying to correct all the wrongs and make everything right. Free markets have their problems too. Nothings perfect but government will just make a bigger mess. When they help one person, they harm another. They don’t think things through. Its all just populist bs. Just like trying KSM in Manhattan. Sounded good but they never thought it through. Now they have to admit they made a stupid decision, just like stimulus and health care etc.
They have good intentions, they are just wrong. Their refusal to admit their stupidity and coverups to hide bad news that shows them wrong are the real insidious problems. And they have many followers. Almost half the country it seems.
Makes me sick to see that they need a pallet jack to bring in the Federal budget.
If they can’t make it smaller, then how about some cost cutting earth saving measure like a PDF.
Congress will soon have a choice. Reduce the interest on the debt to .01%
and pay it off slowly or just default on it. I will not be buying any .gov bonds any time soon. Countries & people that do buy bonds at this point are buying into a ponzi scheme.
Unless the American taxpayer is willing to have their taxes raised by 50% that is our only choice. IMHO.
Hey – big spender! Speennndd a little time with free.
There is something eerie and bellicose about seeing this particular budget delivered to Capitol Hill.
Kind of like seeing a wagon-load of new rope being delivered to the executioner, while the warden reads you and your family’s names out loud.
The basic problem, shown both in blue and red, is the lack of fiscal discipline by both the Republicans and Democrats. The result of this undisciplined behavior is that the federal fixed costs plus inflation dwarf any discretionary spending. This means that the progressives in both parties have to find the bucks to do “good things for the people” .
I do not see how either Party will deal with this problem short of a revolution forcing their hand – and that is what the tea party movement is about.
Ctrl-Alt-Del Congress.
Time to clear the cache, reboot the Constitution with the default settings, and start over. Uninstall the Dept of Education, Dept of Energy, and everything else that is not the role of the Federal Government.
If you want to destroy a country, this is the best way to do it. Congratulations Comrade Obama. You win the chutzpah award for 2010!
Your logic does not apply in the parallel universe.
Think of it this way: what if you bought a parcel of land with a house on it that you thoroughly hated everything about, from the ranch style to the color of the indoor paint to the ghosts that you think haunt it? Perhaps instead of trying to remodel, you’d want to raze that structure to the ground in favor of building a new one to your liking.
That’s how the American left sees our economic, political and social institutions: they want America, but they’re not interested in keeping its existing structures. After all, there’s no point trying to “remodel” Capitalism when the Marxian socio-economic notions you subscribe to hold that Capitalism is unjust, oppressive and evil, and cannot co-exist with your idea of Utopia.
It was a favorite saying of the left during Vietnam to smear the military with the apocryphal, “We had to destroy the village in order to save it.” Yet like so much else, that which they accuse others of is really a case of projecting what they themselves are thinking.
Hope-a-Dope and the donks may want to “save” America, and their disastrous economic, social and foreign policies may — in their minds — have the best of intentions. But that by no means precludes them from hating what they want to “save” America from, and from acting on that hatred.
Sure you do. It’s been the goal and dream of all the power-obsessed. First you create a crisis make it worse, and blame it on your predecessors. You implement programs to “fix” the problem, all the while accumulating power through changing society and government, and hope to come out the “messiah”. You end up controlling a government and society to your own philosophy.
This has got me really upset. It’s a real WTF moment. Have we really gotten to the danger zone? This is an epic train wreck. I pray to God Americans wake up and see what’s about to hit them.
I think Obama’s spending is an outrage, BUT graphs that omit the zero are misleading at best, and intentionally deceptive at worst.
Future budget deficits may not matter if we fail to get the upper hand on what Iran represents. Would Iran actually provide the date of armageddon? Is is Feb.11? They are not capable of a meaningful military victory so are they threatening to change the world by triggering a world nuclear war?
I really doubt China believes they are ready to take us on and Russia doesn’t even know if their missiles won’t land outside of their own country. Does it matter for crazy religious zealots who believe it is the will of God?
*Hey Phil: See where Sarah Palin has endorsed conservative Ran Paul over GOP backed pick in Kentucky Senate primary to replace Jim Bunning?; Good move on her part; Now if she can just bring herself to back J.D. Hayworth in Arizona, she’ll have some cred back.
bjc, that’s a better pick than McLame, when does she endorse Rubio, DeVore, or Hughes? IL primary is tomorrow.
Phil, the Iranians could manage an EMP attack if they can put together a working nuclear device. While the deathtoll would be low initially, it could be devastating. Everything electronic is fried. Power out everywhere for a considerable length of time, maybe years.
VP: I’m just saying she has done the right thing there in Kentucky, by bucking the GOP, and that her stock will start going back up if she were to get consistant by getting behind Rubio, DeVore, et al; Flip flopping will not play well for her to the Tea Party folks!
When this Country finally comes to grips with this the REAL consequences of this type of staggering debt, it wont be gradual. It will be like a fall off a cliff. The only thing that will save us, is a massive cut in taxes, and even more massive cuts in spending. But I dont believe anybody in Washington has the balls to do it. Our creditors will take care of it themselves, and when we default on our debts, or Countries like China no longer lend to us, you ll see financial Armageddon in this Country. And people will wring their hands on why we didn’t so something about it when we had the chance.
How quickly the average American voter forgets when the Democrats have a majority trifecta. And yet, they continue to search for those ever elusive greener pastures. They are a stupid, spoiled breed.
The “Debt Held by the Public” graph (the third one) seems to be missing an annotation. It shows where the Dems took over (2007), but not when the Reps did (1995). Looks like the line leveled out and started going down just after 1995.
Hindsight is 20/20. Bush spending policies were not that bad after all…
85 comments, and this one is #102.
Must have been a lot of trash talking.
MSN homepage today:
Obama budget calls for tax hikes | Video
http://www.msnbc.msn.com/id/35185592/ns/business-personal_finance
T-Bone:
The problem here is that don’t have good intentions. They do want to destroy the country. You can add to it that they are wrong, but that doesn’t change their intent.
We must stop these thieves.
Obama is full of $%^#. Plain and simple.
What also irritates me is when people like O’Reilly and his guest, Bernie what’s his face start talking about the “Kool-Aid drinking extreme right” as they were last night.
They love to give Obama “the benefit of a doubt” while they’ll not extend that same courtesy to conservatives who are critical of Obama, or that believe Obama has a larger agenda of socializing America.
Look at this budget. It’s a liberal wet dream.
Look at Obama’s actions. They are a socialist’s agenda. Not to mention an slef-serving appeasers agenda.
This guy doesn’t like what America is, or has been. He’s out to change it. When people like O’Reilly start calling that evidence of Kool-Aid drinking, it’s time to tune them out.
And Michelle, his and Bernie’s angle and in that piece appear to be directed at you and others, and oddly enough Mr. Beck.
O’Reilly and Obama have a fatal flaw in common. They take the notion of being fair and mutate it into being compliant to the opposition and blind to reality. Obama with our enemies, and O’Reilly with the quiet agenda of Obama and his Democrat allies.
It’s disturbing to see this.
If the Bush deficits were bad, and they were, then how can anyone defend Obama’s plans?
The most optimistic projection (the White House’s, not the CBO’s) of the best year of an eight year Obama presidency shows a bigger deficit than the worst year of the Bush era.
The man is not remotely up to the job.
He is doing a fine job, if you understand that his goal is to destroy the middle class by leveling it with the “have nots”, destroying the free enterprise system in our country, concentrating the power of the Central Government, and transforming America into a socialist state ruled by an oligarchy of the political class.
Obama is far from stupid. This budget is part of the game plan.
I keep going back to the response Obama had for Charlie Gibson during his primary debate with Hillary in April 2008 concerning the Laffer curve.
Gibson, to his credit, challenged Obama to explain how a tax increase would raise revenue when the last few tax cuts proved that cutting taxes is what raises revenue.
Obama was clearly stumped and ended up saying that it didn’t matter if a tax increase resulted in less revenue because it was being raised for ‘purposes of fairness’.
Gibson: “But history shows that when you drop the capital gains tax revenues go UP.”
Obama: “That might happen or it might not.”
HE IS TOTALLY WRONG; HE IS AN IDIOT!!! He has ZERO idea what he’s talking about and almost 2 years later STILL doesn’t have a clue how government taxation and spending KILLS business which kills JOBS.
To all you rich people out there, those of you in the top 25% of income who are paying over 80% of all federal revenue … here is your big chance to STOP OBAMA COLD.
Sit back and STOP MAKING A PROFIT! Obama is clueless that profit is what drives our economy. He attacks it day after day even though it is the goose laying the golden eggs. The simple thing you very rich people need to do is just slow down and break even for a while until it sinks Obama’s ship – it will starve him and the progressives out of existence.
Is it asking to much of you? You have plenty of money stashed away to preserve your level of comfort so why not step up to the plate and TEACH OBAMA THE REALITY OF WHERE FEDERAL REVENUE ACTUALLY COMES FROM BY CUTTING IT OFF?
You can do it voluntarily right now or .. you can wait and just let it happen TO you later when US dollars become worthless by your continued feeding of this madman and his band of radicals in Washington DC.
He will not halve it…… he will double it. Then blame it on the “situation” left behind by Bush.
The irony is, things turned south on the deficit at about the time the Dems took control of congress. Albeit with Bush complicit.
I’m wondering when the media will see the light and label Obama as the biggest spender in American history?
As long as Obama has the media in his lap, and remains black, don’t expect any serious criticism of his policies and plans. It ain’t gonna happen.
Obama’s legacy: The one time an enemy of the USA was elected president.
Obama has an alibi, and the media an excuse – BDS, Democrat control, and 17% unemployment rate. Welfare state wet dream.
Slightly OT (but only slightly) – Rep. John Murtha is hospitalized with complications from gall bladder surgery.
http://news.yahoo.com/s/ap/20100202/ap_on_go_co/us_murtha_hospitalized
Quick, ship him to Canada! I hear they got good healthcare!
We can arrange an exchange program for our politicians and their politicians.