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Thread: Obama Makes New Budget Sales Pitch; GOP Strikes Back

  1. #51
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    Re: Obama Makes New Budget Sales Pitch; GOP Strikes Back

    Quote Originally Posted by Zyphlin View Post
    Oh look, its Obama once again trying to peddle cuts spread out over 10 year which largely backload them to 6+ years after they'd go into effect (you know, after he's out of office), go off the assumption that the future things will actually be continued by future congresses/presidents, and is padded by the ending of things that are inevitably going to conclude.

    Wow, I'm thoroughly impressed. No really, bravo.



    The government must live within its means, and by live within its means we mean live within the additional means we take from you that will allow us to perpetuate our spending until such point that I'm no longer in office in which case sure then we can make some decent cuts.
    Obamaturd realizes he has to spend lots of money to keep buying the votes he needs to keep him in office. Until this government makes massive cuts, no one should pay anymore taxes-especially those who already pay far far more than their share (and don't need the feedback to know that government spending is out of control)

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    Re: Obama Makes New Budget Sales Pitch; GOP Strikes Back

    Quote Originally Posted by AdamT View Post
    Nah, let's cut out all education, environment, and energy spending. That adds up to a whopping ... about 1/3 of military spending.
    Finally someone's talking my language. Let's cut ALL discretionary! Who needs a government anyway?

    Oops.... still a $4 billion deficit. What now?

    Source: (Page 28)
    http://www.whitehouse.gov/sites/defa...sets/12msr.pdf
    "There is an excellent correlation between giving society what it wants and making money, and almost no correlation between the desire to make money and how much money one makes." ~Dalio

  3. #53
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    Re: Obama Makes New Budget Sales Pitch; GOP Strikes Back

    Quote Originally Posted by Rhapsody1447 View Post

    Let's cut Defense spending to zero (having a military is soooo 20th century). What next?

    Another one that did not read the thread before commenting. That was already addressed:

    Then we cut our excessive military spending back to defense spending only, re-regulate the banks that caused the financial meltdown, increase the cap on SS to $180,000, and upgrade our health care system as every other industrialized country has done.

    ..............
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

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    Re: Obama Makes New Budget Sales Pitch; GOP Strikes Back

    Quote Originally Posted by Catawba View Post
    Another one that did not read the thread before commenting. That was already addressed:
    Thanks, I read the thread. My chart clearly shows that even if defense spending was cut to zero the deficit would still exceed the entire fiscal deficit for FY 2007. You say to increase the cap on SS to $180,000. I like where your head is at. How much do you project that will save us? I'm assuming you are referring to increasing the cap on earnings subject to SS taxes. How can you predict for a second what that would cut from the deficit over 10 years?
    Last edited by Rhapsody1447; 02-14-12 at 01:10 AM.
    "There is an excellent correlation between giving society what it wants and making money, and almost no correlation between the desire to make money and how much money one makes." ~Dalio

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    Re: Obama Makes New Budget Sales Pitch; GOP Strikes Back

    Quote Originally Posted by Rhapsody1447 View Post
    Thanks, I read the thread. My chart clearly shows that even if defense spending was cut to zero the deficit would still exceed the entire fiscal deficit for FY 2007. You say to increase the cap on SS to $180,000. I like where your head is at. How much do you project that will save us? I'm assuming you are referring to increasing the cap on earnings subject to SS taxes. How can you predict for a second what that would cut from the deficit over 10 years?

    We cut the spending for the military industrial complex back to defensive levels only, about $250 billion, saving about a half a trillion annually. We increase the taxes on millionaires and billionaires to 30% on all income, that reduces the deficit another 100 billion a year.. Raising the cap on SS to $180,000 makes SS solvent for the long term eliminating the $820 billion you have indicated in your graph. Upgrading to a single payer health care system would cut our health care costs in half, so we can reduce $770 billion there. After we have unemployment back to the 3% level tax receipts will be high enough for us to have a balanced budget without throwing the most vulnerable under the bus for the excesses by those with money and power over the last 30 years.

    And btw, SS benefits have never been increased when there was an increase in the many times the SS cap has been increased in the past.
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

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    Re: Obama Makes New Budget Sales Pitch; GOP Strikes Back

    Quote Originally Posted by Catawba View Post
    We cut the spending for the military industrial complex back to defensive levels only, about $250 billion, saving about a half a trillion annually. We increase the taxes on millionaires and billionaires to 30% on all income, that reduces the deficit another 100 billion a year.. Raising the cap on SS to $180,000 makes SS solvent for the long term eliminating the $820 billion you have indicated in your graph. Upgrading to a single payer health care system would cut our health care costs in half, so we can reduce $770 billion there. After we have unemployment back to the 3% level tax receipts will be high enough for us to have a balanced budget without throwing the most vulnerable under the bus for the excesses by those with money and power over the last 30 years.

    And btw, SS benefits have never been increased when there was an increase in the many times the SS cap has been increased in the past.
    Some pretty heady predictions. Whether we could field even a "defensive" military for 250b/yr is questionable. Increasing taxes on the wealthy would certainly have economic repercussions, Removing 100b from many of the very people that create jobs isn't necessarily good. It would make more sense to revamp the tax code to get rid of loopholes as opposed to another new tax regime for tax professionals to exploit. I agree raising the cap on SS would work, unfortunately all it would do is increase the pool of money to be spent and replaced by IOUs. A single payer system would cut costs in half? Sorry that's just silly. A single payer changes none of the drivers of HC increases.

    When you say single payer I'm assuming you mean the govt. That pretty much destroys any chance of lower administrative costs. I can just imagine the govt regulating everything from food to the volume on your ipod in the name of controlling HC costs.

    How any of this overcomes our nightmare of a tax code, the morass of govt regulation, fierce global competition, and leads to 3% unemployment escapes me.

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    Re: Obama Makes New Budget Sales Pitch; GOP Strikes Back

    Quote Originally Posted by gingern44 View Post
    Some pretty heady predictions. Whether we could field even a "defensive" military for 250b/yr is questionable. Increasing taxes on the wealthy would certainly have economic repercussions, Removing 100b from many of the very people that create jobs isn't necessarily good. It would make more sense to revamp the tax code to get rid of loopholes as opposed to another new tax regime for tax professionals to exploit. I agree raising the cap on SS would work, unfortunately all it would do is increase the pool of money to be spent and replaced by IOUs. A single payer system would cut costs in half? Sorry that's just silly. A single payer changes none of the drivers of HC increases.

    When you say single payer I'm assuming you mean the govt. That pretty much destroys any chance of lower administrative costs. I can just imagine the govt regulating everything from food to the volume on your ipod in the name of controlling HC costs.

    How any of this overcomes our nightmare of a tax code, the morass of govt regulation, fierce global competition, and leads to 3% unemployment escapes me.
    Right. I would just add that cutting half a trillion from defense annually means somewhere in the range of 1 million job losses. Probably more. Raising tax rates will raise revenue, but every dollar taken out of circulation to reduce the deficit is a dollar taken out of circulation that might otherwise be invested or spent. Raising the cap on SS to $180,000 is a massive tax increase on the upper middle class. Again, this does nothing but take money out of the private sector. Plus, the reason there is a cap on SS taxes is because there is a cap on SS benefits. If you raise one without raising the other, SS will go from being a social insurance program to a social welfare program--not that the left cares about that.

    Finally, the 3% unemployment number based upon all of the above is absurd. We have not had a rate that low since the Korean War.

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    Re: Obama Makes New Budget Sales Pitch; GOP Strikes Back

    Quote Originally Posted by Catawba View Post
    We cut the spending for the military industrial complex back to defensive levels only, about $250 billion, saving about a half a trillion annually.
    Okay so cut the military to the lowest point in recorded history. Gotcha. $423 billion saved. (See how easy it is to know how much your saving when you cut spending?)

    Quote Originally Posted by Catawba View Post
    We increase the taxes on millionaires and billionaires to 30% on all income, that reduces the deficit another 100 billion a year..
    Speculation on future revenue.

    Quote Originally Posted by Catawba View Post
    Raising the cap on SS to $180,000 makes SS solvent for the long term eliminating the $820 billion you have indicated in your graph.
    More speculation on future revenue.

    Raising the cap on SS would remove ALL SS spending? What? That $820 billion is what is projected to be paid in 2013, how would marginally raising the cap have any impact on the amount spent?

    Quote Originally Posted by Catawba View Post
    Upgrading to a single payer health care system would cut our health care costs in half, so we can reduce $770 billion there.
    More speculation on future revenue. $770 billion from where? Medicare?

    Quote Originally Posted by Catawba View Post
    After we have unemployment back to the 3% level tax receipts will be high enough for us to have a balanced budget
    More speculation on future economic conditions (i.e. employment and revenue)

    This just shows the lunacy in trying to achieve a balanced budget without touching entitlement reform. MANDATORY SPENDING WAS GREATER THAN TAX REVENUE IN 2011! How can anyone honestly advocate for a balanced budget while completely ignoring 70% of the federal budget? Your solution (like so many on your side of the aisle) is to raise taxes, cross your fingers, and hope not to die.
    "There is an excellent correlation between giving society what it wants and making money, and almost no correlation between the desire to make money and how much money one makes." ~Dalio

  9. #59
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    Re: Obama Makes New Budget Sales Pitch; GOP Strikes Back

    You don't "spend money on" tax breaks.
    You very much do! Unless you cut the budget in accordance with a tax cut you are "spending money" on a tax cut...
    “Capitalism is the astounding belief that the most wickedest of men will do the most wickedest of things for the greatest good of everyone.” John Maynard Keynes

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    Re: Obama Makes New Budget Sales Pitch; GOP Strikes Back

    Quote Originally Posted by Catawba View Post
    And, I haven't seen any proposals by Congressional Republicans for spending cuts that come anywhere close to $4 trillion over ten years.
    you must have missed the budget passed last year by the House that cut $6 Trillion. you may recall - everyone calls it the "Ryan Budget"? only it had actual cuts?


    and the President's budget does not cut $4 Trillion - what a joke. deciding not to spend money in Iraq that nobody had ever even suggested we spend in the first place is not a "savings" any more than you can record savings by declaring in the Budget that we will Not Build Newt Gingrich's Moon Base.



    and the growth assumptions in this thing.... especially considering the tax hikes... are friggin hilarious. hooray! happy days are here again!

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