Lake Minnetonka Liberty

"Man is not free unless government is limited"

Your Ad Here

Tag Archives: deficits

House Democrats Introduce 6 Trillion Dollars Worth Of Deficits In Their New Budget Proposal

I’ve come to the logical conclusion that Democrats are stupid. They have to be. On Monday, they introduced a budget that will add 6 trillion dollars worth of deficit spending over the next 10 years. We’re already broke, our credit rating has been downgraded and we’re looking at a serious financial collapse, and they want to keep spending money we don’t have. Clearly it is hunting season. Time to thin the herd as the stupid have overpopulated again. No bag limit on congressional Democrats!

House Democrats on Monday night introduced their 2013 budget plan to compete with the Republicans’ proposal on the chamber floor this week.

Sponsored by Rep. Chris Van Hollen (Md.), senior Democrat on the House Budget Committee, the $3.6 trillion proposal is not expected to pass, but nonetheless provides the Democrats with a comprehensive plan to distinguish their policy priorities from those of Republicans this election year.

Democrats, the country can’t afford them.

How goddam stupid can these people be? We don’t have any fucking money goddammit, why doesn’t that compute? Your party has shaken the money tree bare.

The budget adds $6 trillion to deficits over 10 years…

They really don’t get it, do they?

Van Hollen said his proposal “stands in clear contrast” to the GOP bill…

Oh yeah, it certainly does. Bankruptcy and financial ruin with Van Hollen’s bill, back to prosperity with Ryan’s bill. It’s real clear-cut.

Exploding Debt Under Obama Policies Says CBO

Well this really isn’t any secret. We all know Obama is intentionally bankrupting the country by force feeding us a socialist agenda.

Nobody is really foolish enough to believe him when he talks about getting the budget in order, are they?

One would really have to be a mindless drone Obamaphile to believe him. Three budgets in a row with deficits of more than a trillion dollars each, not including the 1.3 trillion projected deficit in this, his 4th and final year in office.

The 5.5 trillion dollars in new spending/debt that equals more than every president from George Washington to Bill Clinton. And, he did it in only three years.

Now there’s more verifiable bad news regarding the big time spender-in-chief:

The Congressional Budget Office said Friday that President Barack Obama’s tax and spending policies will yield $6.4 trillion in deficits over the next decade, more than double the shortfall in CBO’s own fiscal baseline — even after taking credit for reduced war costs.

And once again, when (as usual) does the bad news become public? True to his trademark, late on a Friday afternoon when no one will notice, and those that do likely will have forgotten by Monday morning. He does this every week, especially on long holiday weekends. That’s his pattern. Look it up yourself, and start paying attention to the document dumps on Fridays.

The federal debt held by the public would still nearly double again from $10.1 trillion at the end of 2011 to $18.8 trillion at the end of 2022. For the current fiscal year ending Sept. 30, CBO is now projecting a shortfall of $1.3 trillion.

Barack Obama. America just can’t afford him.

According to Obama’s Budget, Burden of Federal Spending Will Be $2 Trillion Higher in 10 Years

President Obama’s budget proposal was unveiled today, generating all sorts of conflicting statements from both parties.

Some of the assertions wrongly focus on red ink rather than the size of government. Others rely on dishonest Washington budget math, which means spending increases magically become budget cuts simply because outlays are growing at a slower rate than previously planned.

When you strip away all the misleading and inaccurate rhetoric, here’s the one set of numbers that really matters.

Read the rest at Big Government

Obama budget will miss goal, deficit rises (again)

It seems as though every left of center person in this country is a hypocrite, including some friends of mine that have that funny political ideology. The Socialist-Democrats in congress and the White House are the worst offenders. They live by the double standard, they own it, its all there’s and they can have it.

These are the same people who raised an uproar when President Bush had a 160 billion dollar deficit, some of those people including Obama called him unpatriotic, irresponsible and wanted him removed or his head on a platter, yet say nothing of Obama’s trillion-dollar deficits every single year of his presidency, or, they make excuses like the tried and true, “it’s Bush’s fault!” No. It’s not.

Who is the one that spent over a trillion dollars more than we took in, Obama or Bush? Who grew the size of government with more expensive handouts?

Obama’s the one that refused to cut spending. You and I do it all the time. If our household income falls, we make sacrifices, Obama just keeps spending. But then you don’t need me telling you that, you’ve been witnessing it for the last three years.

Obama’s 2013 budget projection shows a deficit of over 900 billion dollars. Here’s the kookiness of leftist thinking. They actually believe Obama deserves a second term, and that he’s fixing the deficit. As you can plainly see, those people have a different thought process than normal, common sense main street Americans.

900 billion dollars is not fixing the deficit, and it is not acceptable, period.

It’s like a white guy brutally murdering blacks, then he decides to continue his killing spree by taking white people’s lives. One is a hate crime and one is not. But in the end, when you take off all the pretty politically correct packaging, it’s still murder.

Obama’s proposed 2013 budget will forecast a $901 billion deficit for next year, falling far short of his goal to halve the deficit in four years.

The budget, an outline of which was released by the White House Friday night, will show a higher deficit this year than in 2011, up from $1.3 trillion to $1.33 trillion.

This reckless spending is by design. How can I say that? It’s very simple and loaded with common sense (no wonder the left doesn’t get it) he chose to spend more than we take in. Yeah, it really is that simple.

Message to Mitt: A Rising Tide Lifts All Boats

That great phrase was coined by the late Jack Kemp, who believed that growth and opportunity for all is the answer to poverty. In fact, Kemp believed it was the answer to all things economic. And he was right. The best anti-poverty program is the one that creates jobs. The answer to large budget deficits? Grow the economy, create jobs, watch incomes rise, and let the tax revenues come rolling in.

Partly from Jack Kemp’s work, and partly from his own experience, Ronald Reagan believed the same thing.

Read the rest at Big Government

In his own words: “I’ll cut the Bush deficit in half”

He says one thing, then does the opposite, and we the people better not dare to question him or else we’ll be added to his “War & Peace” sized enemies list. Don’t you just love tyranny?

Obama Deficit Year 1: 1.413 Trillion
Obama Deficit Year 2: 1.293 Trillion
Obama deficit Year 3: 1.299 Trillion

By the way…

Bush Deficit Year 8: 248 Billion
Bush Deficit Year 7: 161 Billion

Yeah, he really cut those irresponsible and unpatriotic Bush deficits in half, didn’t he?

Obama’s Massive Tax Increase Proposal Equals $3 In Tax Hikes For Every $1 In Spending Cuts

He really doesn’t get it. How is this reducing the size of the federal government again? It isn’t, it’s continuing to allow it to grow, there’s no deficit reduction at all. It’s tax and spend albeit at a slightly lower level than he would like, but that’s what it is.

President Obama on Monday proposed a deficit reduction plan that calls for about $3 in new tax increases for every dollar in additional spending cuts as he seeks to put his imprint on the ongoing talks with Congress over reducing the government’s staggering debt.

In a plan his advisers described as his ideological vision rather than a compromise offer to Hill Republicans…

Didn’t I tell you he was ideologue? How long have I been saying it? Right again! His advisors just admitted it. Incidently, the ideology is called Marxist-Leninism.

The White House argues his plan totals $4.4 trillion in deficit reduction over the next 10 years, though $1.1 trillion of that comes from savings on war-fighting expenses that all sides agree were going to happen anyway as the U.S. missions in Iraq and Afghanistan shrink. Another $1.2 trillion has already been signed into law in last month’s debt deal and another $430 billion comes from lower interest payments because of the potential lower debt.

Yet another $450 billion comes from the tax increases the president proposed last week — and has already accounted for in new spending he wants on infrastructure, and other tax cuts.

That means in terms of actual new proposals, the president’s plan totals about $1.2 trillion, of which the lion’s share comes from his longstanding vow to raise taxes back to Clinton-era rates on the top income brackets. The rest is $580 billion in reductions to formula-driven entitlement programs such as Social Security, with much of the savings coming from reducing overpayments and finding waste.

Those $580 billion in newly proposed cuts are dwarfed nearly three-to-one by the $1.5 trillion in additional taxes the president wants to see going forward.

What a Ponzi scheme! Obama should be out on a street corner hustling a shell game. Is it 2012 yet?

Only 23% Realize Deficit Largely Due to Commitments Made in 1960s and ‘70s

No, this does not exonerate Barack Obama, but it does show you that it’s not “Bush’s fault” as the feeblle-minded and wrong thinking leftists have somehow come to believe.

The real culprit? No surprise. A Democrat by the name of Lyndon Baines Johnson.

Even though the last session of Congress was one of the biggest spending in history, very few voters are aware that most of today’s federal budget deficit is actually the product of congressional decisions made decades ago.

In fact, a new Rasmussen Reports national telephone survey finds that just 23% of Likely U.S. Voters are aware that most of the current deficit is the result of spending commitments made by Congress in the 1960s and 1970s. Forty-nine percent (49%) incorrectly believe that’s not the case. Twenty-nine percent (29%) more are not sure.

Today, most federal spending goes to just three areas of the budget—national security, Social Security and Medicare/Medicaid—and changes made during the administrations of Lyndon Johnson and Richard Nixon passed on budget challenges to those of us living in the 21st Century. Forty-eight percent (48%) of voters recognize the impact of these programs on the budget.

The Medicare/Medicaid system was established in 1965 while Johnson was in office, creating spending commitments that continue to challenge budget officials to this day. Nixon oversaw a revision in the benefit formula for Social Security recipients that has proven to be unsustainable despite several increases in Social Security taxes since his time in office. A faulty federal budget process allowed both Johnson and Nixon to pass programs with substantial long-term costs but little short-term budgetary pain while they were in office.

While the official debt ceiling is approximately $14 trillion, the total debt is actually in the range of $70 trillion. Fifty percent (50%) of voters recognize that the official figures understate the problem, and 64% think all liabilities should be included in the totals.  The current system was set in place by Johnson in an effort to hide the cost of the Vietnam War and his Great Society programs.

Obama’s toxic speech and even worse plan for deficits and debt

Did someone move the 2012 election to June 1? We ask because President Obama’s extraordinary response to Paul Ryan’s budget  —  with its blistering partisanship and multiple distortions—was the kind Presidents usually outsource to some junior lieutenant. Mr. Obama’s fundamentally political document would have been unusual even for a Vice President in the fervor of a campaign.

The immediate political goal was to inoculate the White House from criticism that it is not serious about the fiscal crisis, after ignoring its own deficit commission last year and tossing off a $3.73 trillion budget in February that increased spending amid a record deficit of $1.65 trillion. Mr. Obama was chased to George Washington University because Mr. Ryan and the Republicans outflanked him on fiscal discipline and are now setting the national political agenda.

Mr. Obama did not deign to propose an alternative to rival Mr. Ryan’s plan, even as he categorically rejected all its reform ideas, repeatedly vilifying them as essentially un-American. “Their vision is less about reducing the deficit than it is about changing the basic social compact in America,” he said, supposedly pitting “children with autism or Down’s syndrome” against “every millionaire and billionaire in our society.” The President was not attempting to join the debate Mr. Ryan has started, but to close it off just as it begins and banish House GOP ideas to political Siberia.

Mr. Obama then packaged his poison in the rhetoric of bipartisanship—which “starts,” he said, “by being honest about what’s causing our deficit.” The speech he chose to deliver was dishonest even by modern political standards. Read More