Posts Tagged ‘United States federal budget’
President Obama’s Budget by the Numbers
Obama’s Budget Has More Spending, More Taxes, And Accounting Gimmicks Instead Of Fundamental Tax And Entitlement Reform OBAMA’S BUDGET LANDS WITH A DUD CLAIM: Obama Said That “There’s Not A Lot Of Smoke And Mirrors” In His FY 2014 Budget. OBAMA: “That's what my budget does, that’s why I’m so grateful for the great work that this team has done in shaping the budget. The numbers work, there’s not a lot of smoke and mirrors in here.” (President Barack Obama, Remarks On The FY 2014 Budget, Washington, D.C., 4/10/13) REALITY: Given That The Sequester Is Included In The Obama Budget Baseline, His Budget “Would Only Reduce The Deficit By About $600 Billion Over 10 Years.” “However, the baseline the administration uses to calculate that figure assumes the [...]
Government Quit your Damned Whining! America Families endure 3.6% cut
Quit your Damned Whining! Americans are a lot better at belt-tightening than the people they send to Washington. As Americans’ income fell by 3.6 percent in January, President Obama and Congressional leaders were warning of the dire consequences of sequester, the budgetary booby trap that forces cuts of as little as a third of that from the mammoth federal spending plan. Working stiffs sucked it up and absorbed the biggest monthly drop in income in 20 years, while the elected officials insisted that the federal budget had no fat to trim. Financial planning experts say if Americans can take such a big bite out of their paychecks, Washington should be able to weather a similar cut, percentage-wise. “If you compare to sacrifices a regular family has had to make, you’re [...]
Sequestration By The Numbers – Just Two Cents
Just Two Cents In Fiscal Year 2013, The Cuts That Result From Sequestration - $85 Billion - Would Equate To A 2.3 Percent Cut To The (Image Credit: Cato@Liberty) Federal Government’s Overall Budget, Or 2.3 Cents On Every Dollar That The Government Spends This Year. (Doug Elmendorf, “Looming Policy Decisions May Have A Substantial Effect On The Budget Outlook,” Congressional Budget Office, 2/6/13; “The Budget And Economic Outlook: Fiscal Years 2013 To 2023,” Congressional Budget Office, 2/5/13) $85 BILLION IS NEGLIGIBLE COMPARED TO OBAMA’S DISASTROUS FISCAL RECORD 0.5%: Size Of Sequestration Relative To Current National Debt ($16,608,318,357,376.54). (U.S. Treasury Department, Accessed 2/25/13) 2: Years That Allowing [...]
A Federal Government Imposed Recession
By Doc Vega The United States had an opportunity to turn around an ailing economy and fix a disastrous foreign policy, but after the re-election of President Obama all bets are off. This rigid ideologue is committed to forcing America to the whim of his world view. A destructive President re-elected to wreak havoc on US economy! Since 2009 and the election of President Barack Obama America had been under an ideological assault that pit’s the traditional heritage of American freedom and self reliance against a gigantic government sanctioned welfare state that has been designed by the Democratic party to buy votes. This, they rationalize, will perpetuate their rule, but only at the cost of weakening the economy. As the federal government spends itself deeper into a deficit for [...]
CBO projects a $1.1 trillion federal budget deficit for fiscal year 2012
Each January, CBO prepares “baseline” budget projections spanning the next 10 years. Those projections are not a forecast of future events; rather, they are intended to provide a benchmark against which potential policy changes can be measured. Therefore, as specified in law, those projections generally incorporate the assumption that current laws are implemented. But substantial changes to tax and spending policies are slated to take effect within the next year under current law. So CBO has also prepared projections under an “alternative fiscal scenario,” in which some current or recent policies are assumed to continue in effect, even though, by law, they are scheduled to change. The decisions made by lawmakers as they confront those policy choices will have a significant [...]
Obama’s Top 10 Spending Dodges
1. OBAMA SAID HE WOULD CUT THE DEFICIT IN HALF BUT IT WILL END UP DOUBLE WHAT HE AIMED FOR What Obama Said … February 2009: “President Barack Obama Plans To Cut The U.S. Budget Deficit To $533 Billion By The End Of His First Term …” (Hans Nichols, “Obama Plans To Reduce Budget Deficit To $533 Billion By 2013,” Bloomberg, 2/21/09) The President Believed That A Failure To Control The Deficit Would “Make It Harder For The Economy To Grow.” “Obama wants to reduce the deficit because he’s concerned that over time, federal borrowing will make it harder for the U.S. economy to grow and create jobs, said the official, speaking on the condition of anonymity.” (Hans Nichols, “Obama Plans To Reduce Budget Deficit To $533 Billion By 2013,” Bloomberg, 2/21/09) What [...]
Schumer on Conferance call “I always use extreme, That is what the caucus instructed me to use” when referring to the Republican Budget
Senator Charles Schumer spilled the beans today when he told fellow democrats to call the meager GOP spending cuts “extreme.” Schumer didn’t know reporters were already listening in on the call. That’s the dem game plan. To call any cuts to their historic and irresponsible budget “extreme.” Obama, Pelosi, Reid and Senate Democrats like Schumer added over One Trillion Dollars to the Federal Budget in the last 4 years. That’s at least a 30% increase in federal spending in just 3 years. Democrats LOVE to spend your money. It’s what they live for. And, now we know that if you suggest that they cut back on their record deficit spending they will call you “extreme.” The Washington Examiner reported: Sen. Charles Schumer, D-N.Y., a member of the Democratic Senate [...]
