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Thread: Obama vows to veto short-term bill(edited)

  1. #81
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    Re: Obama vows to veto short-term bill(edited)

    leadership, anyone?

    President Barack Obama sent Congress a $3.73 trillion budget Monday that holds out the prospect of eventually bringing deficits under control through spending cuts and tax increases. But the fiscal blueprint largely ignores his own deficit commission's plea to slash huge entitlement programs like Social Security and Medicare.

    Overall, Obama proposed trimming the deficits by $1.1 trillion over a decade although his changes would actually add to the deficits this year and next. Obama is projecting the deficit will hit an all-time high of $1.65 trillion this year and then drop sharply to $1.1 trillion in 2012, with an expected improvement in the economy and as reductions in Social Security withholding and business taxes expire.

    Obama's 2012 budget would actually add $8 billion to the projected deficit for that year because the bulk of the savings he will achieve through a freeze in many domestic programs would be devoted to increased spending in areas Obama considers priorities, such as education, clean energy and high-speed rail.

    Obama's deficit commission made a host of painful recommendations including raising the Social Security retirement age and curbing benefit increases, eliminating or sharply scaling back popular tax breaks, reforming a financially unsound Medicare program and almost doubling the federal tax on gasoline. Obama included none of these proposals in his new budget. The deficit panel called for savings by making these politically tough choices of $4 trillion over a decade, four-times the savings that Obama is projecting.

    Of the $1.1 trillion in deficit savings that Obama is projecting over the next 10 years, two-thirds would come from spending cuts including $400 billion in savings from a five-year freeze on domestic programs that account for one-tenth of the budget. The other one-third of deficit savings would come from tax increases such as limiting the tax deductions for high income taxpayers, a proposal that Obama put forward last year only to have it rejected by Congress. Obama also proposes raising taxes on energy companies.

    The president's projected $1.65 trillion deficit for the current year would be the highest dollar amount ever, surpassing the $1.41 trillion deficit hit in 2009. It would also represent 10.8 percent of the total economy, the highest level since the deficit stood at 21.5 percent of gross domestic product in 1945, reflecting heavy borrowing to fight World War II.

    The president's 2012 budget projects that the deficits will total $7.21 trillion over the next decade with the imbalances never falling lower below $607 billion. Even then that would exceed the deficit record before Obama took office of $458.6 billion in 2008, President George W. Bush's last year in office.

    [T]o achieve the lower deficits required the administration to assume the costs of the wars in Iraq and Afghanistan would fall to $50 billion annually after 2012. The budget also fails to pay for the cost of keeping payments for doctors after 2013. Obama's budget also makes assumptions about economic growth that are more optimistic that many private economists.
    Obama sends Congress $3.73 trillion budget - Yahoo! News

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    Re: Obama vows to veto short-term bill(edited)

    demagogue away

    Mr. Ryan's proposal would apply to those currently under the age of 55, and for those Americans would convert Medicare into a "premium support" system. Participants from that group would choose from an array of private insurance plans when they reach 65 and become eligible, and the government would pay about the first $15,000 in premiums. Those who are poorer or less healthy would receive bigger payments than others.
    GOP Budget Aim: Cut $4 Trillion From Spending - WSJ.com

    leadership, anyone?

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    Re: Obama vows to veto short-term bill(edited)

    I find it interesting that he once again does not link to the actual document. Here it is: http://www.whitehouse.gov/sites/defa...udget_2012.pdf

    Would not want people to actually read what the plan includes. Don't want you to see this:

    This freeze would be the most aggressive effort to restrain discretionary spending to take effect in 30 years and, by 2015, would lower non-security discretionary funding as a share of the economy to the lowest level since Dwight D. Eisenhower was president.
    He also makes it a point to bold "increased spending", hoping you don't notice that it is take from one area to give to another. What he doesn't tell you: PolitiFact | John Boehner says interim spending bill would cut $12 billion

    Indeed, while the bill does include $12 billion in cuts, it also includes $7.6 billion in additional spending for the Defense Department
    Yup, republicans are doing the same thing, reducing spending in some areas, boosting it in others. And, once again, here is the actual document: Committee on Appropriations

    Why oh why does he never actually link to these documents. Could it be so he can spin the content without(he thinks) any one knowing?
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    Re: Obama vows to veto short-term bill(edited)

    Quote Originally Posted by The Prof View Post
    demagogue away
    Irony.



    Notice again he did not link to the actual plan, or the CBO report on the plan. There is a reason, as I already showed. So many details not mentioned, important ones.
    We became a great nation not because we are a nation of cynics. We became a great nation because we are a nation of believers - Lindsey Graham

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    Re: Obama vows to veto short-term bill(edited)

    On what basis do you say the GOP plan is 'leadership?'

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    Re: Obama vows to veto short-term bill(edited)

    Quote Originally Posted by pbrauer View Post
    On what basis do you say the GOP plan is 'leadership?'
    It leads the way in trickle down economics at the cost of old people.
    We became a great nation not because we are a nation of cynics. We became a great nation because we are a nation of believers - Lindsey Graham

    Quote Originally Posted by Fiddytree View Post
    Uh oh Megyn...your vagina witchcraft is about ready to be exposed.

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    Re: Obama vows to veto short-term bill(edited)

    Quote Originally Posted by Redress View Post
    It leads the way in trickle down economics at the cost of old people.
    Funny, the Bush Admistration passed the Medicare Part D, now the Republicans want kill Medicare altogether?

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    Re: Obama vows to veto short-term bill(edited)

    Quote Originally Posted by pbrauer View Post
    Funny, the Bush Admistration passed the Medicare Part D, now the Republicans want kill Medicare altogether?
    Amusingly, Part D was passed with no attempt to pay for it.
    We became a great nation not because we are a nation of cynics. We became a great nation because we are a nation of believers - Lindsey Graham

    Quote Originally Posted by Fiddytree View Post
    Uh oh Megyn...your vagina witchcraft is about ready to be exposed.

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    Re: Obama vows to veto short-term bill(edited)

    This freeze would be the most aggressive effort to restrain discretionary spending to take effect in 30 years
    that's leadership?

    bold away, link away
    Last edited by The Prof; 04-08-11 at 03:22 AM.

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