Comments on: Obama’s deficit reduction a major hypothetical

By: sanjay

sanjay — Thu, 04 Feb 2010 02:20:12 +0000

We can easily save a trillion $ by cutting down our empire and invest that money in paying the debt, putting people back to work and investigating the federal reserve.

We are mired, tired and exhausting ourselves in nation building, we are addicted to cheap goods and labor from mexico and China and we are unable to face the reality.

By: carlos2010

carlos2010 — Wed, 03 Feb 2010 12:27:50 +0000

President Obama sent Congress a $3.8 trillion budget Monday, February 1, 2010, for fiscal year 2011, pushing a plan that includes new jobs-creation programs but is projected to add nearly $1.3 trillion in deficit spending on top of the current 2010’s projected $1.6 trillion deficit. According to the plan, the 2011 deficit of $1.267 trillion would fund nearly the entirety of the year’s discretionary spending, which is $1.415 trillion or 37 percent of the government’s total outlays. Mandatory spending on items such as entitlements and interest payments make up the rest. The Senate moved last week to extend the nation’s debt limit to $14.3 trillion to accommodate the projected gap for the current spending year, which ends September 30, but with another $1.3 trillion hole next year, the nation’s debt could reach $15.6 trillion by October 1, 2011.That would surpass the nation’s TOTAL annual gross domestic product!!! A $1.6 trillion deficit would represent 10.6 percent of current GDP, while 2011′s budget deficit would be 8.3% of GDP. The White House says over the next 10 years, the average deficit will represent only 4.5 percent of GDP annually. Last year’s deficit was $1.42 trillion. The total deficit through October 2011, $4.32 Trillion Dollars! In three years, that is $1 Trillion more than the entire deficit during the 8 years of the Bush Administration of $3.3 Trillion. Obama claims that his budget saves $1.3 Trillion, but does not tell the American People how he gets them…TAXES!!! Taxing Investment Managers – Taxing Capital Gains $24 Billion, Financial Services Industry – Tax Banks $90 Billion, Allow the Bush Tax Cuts for Households Earning More Than $250,000 to Expire, roughly $600 Billion, and Reduce the Itemized Deduction Write-off (Charitable Contributions) for Families with Incomes over $250,000, $291 Billion. Mr. President, try China, We the People are buying. (http://online.wsj.com/article/SB10001424052748704107204575038733246595218.html?mod=WSJ_hpp_LEFTTopStories )

By: sunnyr

sunnyr — Wed, 03 Feb 2010 07:09:39 +0000

Thank God people are beginning to wake up and smell the coffee! Taking back the House next November will render this idiot a Lame Duck so he can’t do too much more harm to our country until we can toss his butt out in 2012!

By: Obama’s Deficit Reduction a Major Hypothetical | NewsReal Blog

Obama’s Deficit Reduction a Major Hypothetical | NewsReal Blog — Wed, 03 Feb 2010 00:32:08 +0000

[...] Read more at The Daily Caller. [...]

By: 61% of Obama’s Deficit Reductions Purely Hypothetical - www.hostzi.com - deepWeb

Tue, 02 Feb 2010 23:16:52 +0000

[...] There is another $630 billion in additional deficit-cutting measures that is by no means a certainty, depending on whether Congress passes Obama’s proposals into law. Read more here. [...]

By: tomdoff

tomdoff — Tue, 02 Feb 2010 20:28:57 +0000

If one were to take all this seriously, it would be depressing to acknowledge that the ‘thin veneer’ you refer to has been discarded, and the blatant actions of the bribers and the bribees running our government-by-bribery are out in the open, that they are oblivious to criticism. And that they are secure in the belief (some might say ‘certain knowledge’) that they can depend on the combination of public ADD, public ignorance, and public apparent indifference, to continue to survive and prosper in the corrupt milieu they have established and inhabit. And also certain, that if by some miniscule chance, they are caught-up, they will be able to escape their just deserts in the same manner they have prospered, by hook and by crook. (BTW, I do not disagree with your budget concept. Surely you can use a forecast to establish a firm budget, and stick to it. But since a budget should not only include financial parameters, but also performance goals, if circumstances change significantly, and the financial limits are maintained, then the only thing adjustable for the deviance is the performance attained. Which, in my view, is as important to the ‘budget’ as the financial limits).

By: apberusdisvet

apberusdisvet — Tue, 02 Feb 2010 20:05:26 +0000

Obama’s Cloward-Piven Strategy is now no longer just a conspiracy theory; it is now a very, very painful reality. We have been so,so stupid, and we really are going to pay the price for not connecting all the dots.

By: Landon Brands

Landon Brands — Tue, 02 Feb 2010 20:01:36 +0000

If Mr. Obama would have ever run any non-Government entity, he either 1) wouldn’t have promised these phantom spending cuts in the first place, or 2) had enough business sense to avoid multi-billion-dollar pitfalls like the TARP disaster and untold billions worth of stimulus spending, which hasn’t accomplished its goals!

By: tomdoff

tomdoff — Tue, 02 Feb 2010 20:01:17 +0000

Well, I think you’ll agree that one thing you can predict with certainty, beside death and taxes, is continuing inflation, a truth since kings started shaving slivers of gold off coins to make more (free) coins. But no matter the purpose of a budget, or forecast, it is still an estimate of the future. As a general rule, it can be considered a good assumption that the closer in time you are to the period of the forecast, the more accurate you are likely to be. Another fairly good assumption is that the smaller the value of the forecast, the lesser the deviation you could expect. So, when you are dealing with Trillion$+ ‘budgets’, extending for years+, it’s safe to assume that reality will differ from the forecast by significant amounts. Especially since the variables include whether the fuse on a stick of dynamite shoved up some Arab’s a** will burn properly if he farts, and send (or not send) the massive aircraft he is inhabiting plunging into the yacht in Biscayne Bay the republican and democratic leadership councils are using for a secret confab on ear-marks.

By: adamincalifornia

adamincalifornia — Tue, 02 Feb 2010 19:30:51 +0000

Ummm.

The entire idea behind budgeting is to make very specific allocations of funds for very specific uses so that there is very little discretion for those who spend our money to spend as they like.

Same goes for where you get the money – it must be very specific and realistic.

Otherwise you get a circus of spending that creates all sorts of opportunity for corruption and unpleasant surprises when shortfalls suddenly show up.

Obama campaigned on bringing in experts and disinterested managers so as to create pragmatic and responsible government who would do away with budget tricks and gimmickry.

He didn’t.

Now he is lecturing us on the virtues of frugality while proposing the largest budget ever with the largest deficit ever compounding the largest debt ever coupled with the largest public employee numbers ever. We even now have union membership being majority public employee – a mind blowing evolution when you consider that Unions were formed to end abusive management practices – what aspect of public employment is so abusive that it requires unions to protect worker interests?

The thin veneer of justification for what are clearly abuses of the public purse to reward political cronies is not hard to scratch away.

By: tomdoff

tomdoff — Tue, 02 Feb 2010 19:30:40 +0000

No matter your political party, one thing you gotta give Obama credit for, is he’s been an inspiration to a whole lot of youngsters, of all colors and creeds. After seeing his financial statements, thousands of kids are signing-up for Community Organizer courses, convinced C.O. jobs must pay as well as Financial Industry executives, without having to steal.

By: tomdoff

tomdoff — Tue, 02 Feb 2010 19:08:30 +0000

Can it really be considered ‘Charity’, if a Financial Industry Mogul-Crook ‘donates’ a used yacht (instead of sinking it to collect the insurance) worth only $100,000, and has his appraiser value it at $1,000,000 for ‘donation purposes’, writes it off on his taxes, and, since he is in the 25% bracket (after all his other ‘business’ deductions), save himself $250,000 (minus the $100,000 the yacht was worth), and depriving the treasury of $250,000 he would otherwise have had to pay in taxes? So what his good, ‘charitable’ contribution has done, is have US, the taxpayers, have to come up with (or add to our debt), a quarter of a million bucks he gave to his charity (which is run by his wife, who draws a fat salary from the do-gooding hoax they’ve set-up as a ‘Non-Profit’)

By: tomdoff

tomdoff — Tue, 02 Feb 2010 17:55:18 +0000

You know, any time you try to predict the future, it can be called ‘Hypothetical’. Wanna predict the exact time when you’ll take your next pee? Hypothetically, of course? Wanna guess how much money you’ll have in the bank come the fourth of July? Wanna bet? You know the exact odds on you living another five years? How much you willing to risk on that? Saying what’s gonna happen is an opinion. And you know the old saying, everybody has one.

By: tomdoff

tomdoff — Tue, 02 Feb 2010 17:46:50 +0000

One of the problems has been is that when Lil’ Timmy Geithner does math, he has to use his fingers and toes. And when he adds them all up, he comes up with 27. Not a big surprise, we all knew he was weird, but it does account for some of our problems. That, plus the fact that he never met a Too Big to Fail banker he didn’t love, and envy. Seems he’s soon to be shown the door. Good times, they may be a’comin’. The sooner we see Lil’ Timmy’s a** goin’ out the door, the better-off we can become. Then, if we can just push Summer into a Fall….

By: Richmond Liberty Alliance Blog » Blog Archive » Middle Class Taxes Are On The Rise, Despite What Obama Promised.

Tue, 02 Feb 2010 17:40:14 +0000

[...] Obama’s deficit reduction a major hypothetical. [T]he $100 billion toward deficit reduction is only one of several items in President Obama’s [...]

By: thebigodoopedu2

thebigodoopedu2 — Tue, 02 Feb 2010 15:16:26 +0000

The above photo looks more like a Police Line UP….

By: ohthehugemanatee

ohthehugemanatee — Tue, 02 Feb 2010 14:53:53 +0000

What’s a little “fuzzy math” among friends?

By: adamincalifornia

adamincalifornia — Tue, 02 Feb 2010 14:44:14 +0000

Progressive Talking Point Analysis -

1) Bush’s tax cuts were only for the rich
2) If we let the Bush tax cuts expire, the middle class and lower income taxpayers will see huge increases, and many who don’t pay taxes will now have to.
3) So we must only let a small portion of the Bush tax cuts expire, even though we still maintain that Bush’s tax cuts were for the rich.
4) Obama is the most intelligent President ever and sees no contradictions in this logic.
5) Hope and Change!

By: cashbeechcroft

cashbeechcroft — Tue, 02 Feb 2010 14:39:24 +0000

Check out the new version of “Mmm Mmm Mmm Barack Hussein Obama” at: http://www.myspace.com/rogerweber

You’ll get a laugh!

By: erick1740

erick1740 — Tue, 02 Feb 2010 14:28:07 +0000

They are all incompetent,