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After spending binge, White House says it will focus on deficits

Councilman

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After spending binge, White House says it will focus on deficits - Mike Allen and Jim VandeHei - POLITICO.com

Can we afford to have this amateur turn his attention back to the economy? Before the last spending binge he said the world would come to an end and we might never recover form the mess if we didn't spend more money than most can even comprehend and the unemployment rate shoot up to around 9%. Well dumb asses listened to him and now we has a 10.2% unemployment rate and going on nothing to show for all that spending because he failed to address the issues and spent money peripherals not the causes.

Today the worst possible things are being done by Local, State, and the Federal Government, "Raising Taxes" and from Coast to Coast and Liberals are still falling for Obama's lies and allowing his inexperience make the situation worse by the day.
Raising taxes is the ultimate in bone headed ideas when we need jobs and it's been proven jobs come from the private sector and if they have no money they can't create a damn thing.
With his "I don't Care about Your Health Plan" he is driving a nail in the coffin of the economy.
Anyone with experience running a business could do 100% better job than Obama. He's a total idiot on every subject except protests and Socialism/Marxism.


By MIKE ALLEN & JIM VANDEHEI | 11/13/09 4:25 AM EST
President Barack Obama plans to announce in next year's State of the Union address that he wants to focus extensively on cutting the federal deficit in 2010 – and will downplay other new domestic spending beyond jobs programs, according to top aides involved in the planning.


The president's plan, which the officials said was under discussion before this month’s Democratic election setbacks, represents both a practical and a political calculation by this White House.


On the practical side, Obama has spent more money on new programs in nine months than Bill Clinton did in eight years, pushing the annual de
ficit to $1.4 trillion. This leaves little room for big spending initiatives.
 
I laughed my ass off when I heard this today!

I guess we can get ready for some eyeball pulling tax increases, because that's the only way that the Libbos know how to reduce the deficit. They sure as hell aren't going to cut any entitlements forthe welfare class.
 
Not much different than the average American citizen. They buy toys until their financial obligations exceed their income, and THEN worry about health care insurance.:(
 
Has Obama ever had a 'real' job, or was his whole adult life spent in community organizing? Just wondering how much he knows about the real world. :rolleyes:
 
Fascinating that he chose the same time he flies out to Asia, where China is worried about the Dollar, to announce he sees the light and will concentrate on "fiscal discipline".
 
Obama knows how to file suit, boycott, threaten, and of course he knows how to manipulate the weak mined, and absolutely dup people an a large scale. Or does that com under the heading baffling them with Bull Shiite.

As far as practical application of business acumen is concerned it's as foreign to Obama as Christian values and the U.S. Constitution.
 
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As no Administration has made a serious effort to address the budget deficits since the 1990s, odds may be against a credible fiscal consolidation plan. Nonetheless, should foreigners grow less willing to underwrite U.S. debt, things could begin to change. But that possibility probably lies in the medium-term, not near-term.

Already, one has witnessed little appetite for fiscal discipline.

1. Many in Congress are eager to waive Medicare's extremely modest $24.7 billion per year reducion in physician payments. $24.7 billion is less than 0.7% of the federal budget. It is almost nothing in the whole scheme of things. Fortunately, though I fear temporarily, efforts to push through the "fix" failed. The bigger lesson is that if Congress is unwilling to resist the calls of special interests for such a tiny measure of discipline, one probably can't expect Congress to make the far more difficult choices required for large-scale fiscal consolidation.

2. With seniors gaining no cost of living increase, as prices declined over the past year, there is a growing push for a $250 per senior tax credit.

In the longer-term, the U.S. has major structural deficits and enormous unfunded liabilities. Tough measures and courageous political leadership will be required to address those enormous imbalances. Sadly, there may be a temptation to let things continue to run on auto pilot and perhaps even partially default via inflation in the years ahead.
 
Thanks don for your insights as usual.

Along similar lines, I was just going to say that it's been a string of presidencies that have brought us down this road, and the blame can't all be put on Obama. Yes he is part of the problem but he isn't the only source. It's also important to remember that the President is just the face of these decisions; he has executive powers but he also has an entire team assembling scenarios and options for him and congress to consider.

The financial problems are a result of collective mistakes and putting that all on one man is incredibly shortsighted and, frankly, ignorant.

In order for the U.S. to have a tangible financial future, all spending will have to be reduced, conservation will have to be the motto of operation, taxes will increase, and the government must reduce in size. All of these are key to deficit management. Unfortunately, one aspect of increasing the value of currency is capital which may mean more wars in the future to procure assets... but I can only pray that the taste for war fades from consciousness for a while.
 
Yeah, I thought this was one of those fake story's that are meant as "gotchya" moments for the media, but it's apparent that it's for real. I love the "deficit summit" --- sort of like holding a seminar about the dangers of fire, in the smoldering hull of a house. I can't believe (other than the ultimate shills) would buy into this... funny funny stuff.
 
I guess we can get ready for some eyeball pulling tax increases, because that's the only way that the Libbos know how to reduce the deficit.
You poor folk don't need to worry. We rich folk just need to pay our fair share.

They sure as hell aren't going to cut any entitlements for the welfare class.
When's the last time a conservative campaigned on terminating the Social Security System?
 
How great would THAT be! Make Social Security optional --- then kill off Medicare / Medicaid, Welfare, ... woo... just got the goosebumps.
 
Yeah, I thought this was one of those fake story's that are meant as "gotchya" moments for the media, but it's apparent that it's for real. I love the "deficit summit" --- sort of like holding a seminar about the dangers of fire, in the smoldering hull of a house. I can't believe (other than the ultimate shills) would buy into this... funny funny stuff.

The first thing we need to do is scrap seven of our eleven Air Craft Carriers.
 
Thanks don for your insights as usual.

Along similar lines, I was just going to say that it's been a string of presidencies that have brought us down this road, and the blame can't all be put on Obama. Yes he is part of the problem but he isn't the only source. It's also important to remember that the President is just the face of these decisions; he has executive powers but he also has an entire team assembling scenarios and options for him and congress to consider.

The financial problems are a result of collective mistakes and putting that all on one man is incredibly shortsighted and, frankly, ignorant.

In order for the U.S. to have a tangible financial future, all spending will have to be reduced, conservation will have to be the motto of operation, taxes will increase, and the government must reduce in size. All of these are key to deficit management. Unfortunately, one aspect of increasing the value of currency is capital which may mean more wars in the future to procure assets... but I can only pray that the taste for war fades from consciousness for a while.

I say we means test Social Security and Medicare, cut the military by half, raise the limit on wages subject to the SS and Medicare tax, raise the income tax on Corporations and terminate Medicare Advantage.
 
24.7B may not be much compared to the federal deficit (the mass of jupiter barely compares to the federal deficit, after all), it's an awful big cut to doctors' pay

it's what underlay reid's cynical attempt to slice off of obamacare and account instead against the national debt his quarter T doc fix

of course, the fix failed on the floor, 47 to 53

12 dems and jiltin joe joined omnipresent olympia in preventing the leader from getting EVEN 50, let alone 60

when it comes to obama suddenly heeding the message of virginia and jersey, however---LOL!

he faces as crunching a credibility challenge concerning accounts as he's up against pretending to be a decisive war leader in afghanistan

CBO: Budget deficit hit record $1.4T in 2009 - Yahoo! Finance

U.S. Treasury Confident Congress Will Increase Debt Ceiling - Bloomberg.com

just picture the president attempting such a prodigious "pivot," out of nowhere, before joint assembly

and, if you really wanna laugh, look at this---obama in february at the state of the union, saying, "we've got to pass health care this year, we can't afford to do nothing, it must meet my goals of affordability, universalty, and it must not add a dime to the deficit"

LOL!

do you see what i see?
 
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Along similar lines, I was just going to say that it's been a string of presidencies that have brought us down this road, and the blame can't all be put on Obama. Yes he is part of the problem but he isn't the only source.

I agree and it is not my intention to make such criticism. The problem is the result of many years of bipartisan choices.

President Obama is still early in his first term, so it's too soon to judge him. I'll be interested to see what kind of fiscal consolidation plan he comes up with. Timing the implementation of the plan will depend on the economy's having resumed sustained economic growth. Until that happens, it will be difficult to aggressively cut the deficit without risking renewed recession.

I am quite skeptical of the Congress given the two examples I cited.

I can only pray that the taste for war fades from consciousness for a while.

Hopefully, the Administration can come up with a viable plan for Afghanistan so that the United States' objectives can be met and its interests safeguarded.
 
You poor folk don't need to worry. We rich folk just need to pay our fair share.



epicdude86-albums-stuff-picture1162-thats-like-your-opinion-man.jpg
 
I say we means test Social Security and Medicare, cut the military by half, raise the limit on wages subject to the SS and Medicare tax, raise the income tax on Corporations and terminate Medicare Advantage.

The Medicare tax is already imposed on all wages, and applying a means test won't do much for either Medicare or SS, as few people work after age 65 as it is.

You poor folk don't need to worry. We rich folk just need to pay our fair share.

By all means, feel free to pay more. You can write the treasury a check for however much you want and they'll gladly accept it.
 
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When's the last time a conservative campaigned on terminating the Social Security System?

Obviously you don't know where that money comes from...lol. Really, who do you think puts money into SS?...:rofl

You're so rich that you don't have clue how the system works. Must be nice!...LOL
 
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You poor folk don't need to worry. We rich folk just need to pay our fair share.

So whats holding you back?Go ahead and pay higher taxes if you feel you can afford it.

When's the last time a conservative campaigned on terminating the Social Security System?

Who's talking about terminating Social Security?
 
raise the income tax on Corporations

So I take it that you dont think a recession is good enough and we would be better off in a full blown depression.
 
Obama knows how to file suit, boycott, threaten, and of course he knows how to manipulate the weak mined liberal, and absolutely dup people an a large scale. Or does that com under the heading baffling them with Bull Shiite.

As far as practical application of business acumen is concerned it's as foreign to Obama as Christian values and the U.S. Constitution.
Fixed it for you. :mrgreen:
 
Thanks don for your insights as usual.

Along similar lines, I was just going to say that it's been a string of presidencies that have brought us down this road, and the blame can't all be put on Obama.

Obama's a tiny player in this mess. Bush as well. If you take out their contributions to our unfunded liabilities, it's still well over $50 trillion. Harping on Obama when we are facing that kind of obligation is not only extremely partisan, it's short sighted. $1.4 trillion, significant amounts which can be tied back to the last administration is frankly nothing in the face of $50+ trillion in unfunded liabilities.

People here need to get their priorities straight for a change.
 
It seems as though, in a grand case of irony, that one of the cuts that is talked about regards healthcare for those who currently use a "public" system in medicare. That should be an alarm going off for everybody who supports a national public healthcare system. People whine about how greedy insurance companies deny payment for treatments because of concerns about profit, but apparently refuse to see how the government making cuts to budgets effectively causes the exact same situation.

The other interesting point, is that a poster believes that we need to reduce our military by half, and have a meager 4 aircraft carriers at the ready. While there is room for some cuts in the military, and efficiency can always be improved, such a drastic reduction of our forces would certainley signal a decline in our readiness and willingness to intervene in geo-political affairs that would cause instabilities not only with regards to the areas themselves, but the world wide economy. Having a large force at the ready is a deterrent and the only way I would support such drastic reductions in our military force, was if other western countries and allies were to increase their military readiness and willingness, to offset our own reduction and that there be a plan in place to keep in reserve vast amounts of war ready equipment that can be reinstated to active status overnight(effectively, not literally).

I believe those are the cuts you can expect in the future. The very healthcare promised to the American public will be under scrutiny for budgetary cuts, and reduction of our armed forces.
 
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