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JIMV
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The Obama Budget Plan

soulful.terrain
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Hilarious!

I have seen the Mallard Fillmore cartoons by Bruce Tinsley but not these. Very funny.

 

The Obama budget plan is no plan. amazing! Can you believe it?

JIMV
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Lamont Sanford
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The very definition of

The very definition of "Budget" is to control spending based on a plan the goal of which is to have a surplus of revenue.   Government officials make themselves look stupid when they are working on a budget where the spending exceeds revenue and still call it a budget.  It's is called a, "deficit budget" and is a result of actions taken.  But that is two words.  In reality one side is arguing for a deficit budget and the other side is arguing for a budget.  A deficit budget, especially a recklessly planned deficit budget, is not what a prudent business person would strive for in a free market in order to maintain being a going concern.  When a government plans for a deficit budget it is no longer interested in the free markets.  Ending up in a deficit budget is  fiscally irresponsible and is the exact reason why over 90% of new business fail within the first 5 years.  Also, there is no such thing as a "balanced budget" when the plan does not include "off-budget spending".  This is the exact reason that the so-called balanced budgets of the 1990s were not really balanced budget.  Spending on the side and not including it in the budget is cooking the books and in most is cases illegal.  I see this sort of thing every single day.  A deficit budget is a recipe for disaster.  It is not something one strives for or even plans.  Deficit budgets come about from unreasonable decision making.  Nobody plans for a deficit budget.  It is like saying you are going to buy a new truck even though the price will end up leaving you in default.  It is like maintaining special interest spending even though you know it is going to lead to default.  In other words, a deficit budget is a major indicator that an organization is risking default and its ability to maintain itself as a going concern.  What I have done is logical write that anybody planning a deficit budge, a balanced budget with off the books spending, or ending up with a deficit budget is a high audit risk.  It cannot be relied on to even tell the truth.   It is like a person with a terrible credit score and yet said person continues to apply for and receive new credit cards.  Basically, this is the plan the current administration is trying to sell to the public.

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No plan because some people

No plan because some people want to spend more or continue spending without raising taxes. The teabaggers can't seem to bridge the reality gap between the balance in the bank and what is needed for incoming revenue. Most of the republicans are ideologues, who toss out wonderful soundbites that have no basis in reality, or are just plain un-informed. But why be informed when Rush or Fox news can tell you all you need to know? The other side of the aisle is not any better. Everyone has their pet projects.

Bottom line is that a paradigm shift from previous fiscal policy era of Reaganomics and trickle down economics needs to take place. We have lost our industrial base and the tax revenue from it. We need to raise personal income taxes and close loop holes on the largest corporations to re-build this infrastructure. But no one wants to say those dirty words, let alone deal with the reality.

The dirtiest word of all is carried interest loop hole. If you don’t know what that is, don’t worry about it. Your congressman will handle for you.

These guys (both republicans and dems) are an insult to used car salesmen. The republicans seem to have the edge in snake oil salemens at the moment.

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So spend more and raise

So spend more and raise taxes.  Nice.  Tell your boss your spending more and you want a raise.

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I keep reading unfortunate facts...

One is that taxing 100% of income from every evil rich fellow in the top 5% would not cover the deficit...Another is that doubling the income tax for all taxpayers would raise less than 1 trillion so we still would be over $300 billion in the hole...

The problem is not taxing but spending...simple math.

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The upward spiraling debt
Soothsayerman wrote:

We need to raise personal income taxes and close loop holes on the largest corporations to re-build this infrastructure. But no one wants to say those dirty words, let alone deal with the reality.

 The republicans seem to have the edge in snake oil salemens at the moment.

When it comes to economic growth, President Obama’s record falls far short of his rhetoric.  Here's the decisions made by President Obama and Congressional Democrats over the past couple of years, and the disappointing results of their policy choices:

January 20: President Obama sworn into office

President tells the American people in his Inaugural Address: “Those of us who manage the public's dollars will be held to account, to spend wisely, reform bad habits, and do our business in the light of day, because only then can we restore the vital trust between a people and their government.”

Debt Held By Public = $6.31 trillion

February 17, 2009
President Signs into Law the Spending Stimulus

  • The stimulus adds $821 billion in new spending according to the Congressional Budget Office (CBO).

  • The White House promises this infusion of spending and borrowing would keep unemployment rate below 8%.  As millions of Americans are painfully aware, that promise was broken

  • Debt Held by Public = $6.48 trillion

February 26, 2009
President Issues FY2010 Budget

  • The President’s budget adds $2.7 trillion in new debt in FY2010 and imposes $1.4 trillion in new taxes.

  • Debt Held by Public = $6.58 trillion

 

March 11, 2009
President Signs FY2009 Omnibus Appropriations Act

The massive spending bill includes 8,696 earmarks at a cost of $11 billion.

  • The spending bill adds $19 billion in new spending above the baseline – an 8.6% spending increase.

  • Debt Held by Public = $6.66 trillion

 

April 29, 2009
Congressional Democrats Pass FY2010 Budget

  • The Congressional Democrats’ budget calls for a $2 trillion debt increase in 2010, and another 8.9% increase in non-defense discretionary spending.

  • The reconciliation process is abused to later pave the way for health care overhaul to be jammed into law.

  • Of note: this is the last time Congressional Democrats will bother budgeting.

  • Debt Held by Public = $6.85 trillion

 

February 2, 2010
President Issues FY2011 Budget

  • The President’s budget more than doubles the debt; pushes the FY2011 deficit to a new record of $1.6 trillion; drives spending to a new record of $3.8 trillion in fiscal year 2011; and raises taxes by more than $2 trillion through 2020, under the administration’s own estimates.

  • Debt Held by Public = $7.85 trillion

 

March 23, 2010
President Signs Health-Care Overhaul Into Law

  • The massive new law adds $1.4 trillion in new spending over the next decade, and over $2.5 trillion once the law is fully implemented.

  • Despite sluggish economic growth and high unemployment, the law imposes over $500 billion in new tax hikes.  CBO Director Elmendorf would later testify that the law would reduce employment by roughly half a percent – a reduction of approximately 800,000 jobs.

  • Debt Held by Public = $8.18 trillion

 

April 15, 2010 
Congressional Democrats Decide Not to Do a Budget for FY2011 

  • The 1974 Budget Act requires Congress to pass a budget each year by April 15.

  • In an unprecedented budget failure, House Democrats not only failed to pass a budget – they opted to not even propose a budget.

  • Debt Held by Public = $8.39 trillion

July 21, 2010
President Signs Financial Regulatory Overhaul Into Law

  • In addition to heightened regulatory uncertainty, the massive new law adds $10.2 billion in new spending.

  • Debt Held by Public = $8.69 trillion

 

February 14, 2011
President Issues FY2012 Budget

  • The President’s budget yet again calls for the doubling of the debt in five years, and tripling the debt in ten years.

  • The President’s budget spends $47 trillion over the next decade, imposes over $1 trillion in new tax hikes, and fails to address the drivers of the debt.

  • Debt Held by Public = $9.45 trillion

April 13, 2011
President Delivers Speech on Deficit Reduction

  • The President appears to abandon his own budget by offering a ‘framework’ that calls for additional tax increases, defense spending cuts, and Medicare price controls – yet lacks sufficient detail to back-up claims of deficit reduction.

  • Debt Held by Public = $9.65 trillion

April 15, 2011
House Passes FY2012 Budget Resolution

  • The House proposed budget cuts $6.2 trillion in government spending over the next decade, saves Medicare, strengthens the social safety net, lifts the crushing burden of debt, and spurs economic growth and job creation.

  • Senate Democrats fail to meet their legal requirement to pass a budget by April 15.

  • Debt Held by Public = $9.68 trillion

April 18, 2011
S&P Issues Credit Warning on U.S. Debt

  • The rating agency sets off the latest alarm bells, warning of lawmakers of unsustainable fiscal course.

  • President Obama has still not proposed a credible budget; Senate Democrats have still not proposed any budget.

  • Debt Held by Public = $9.68 trillion

 

May 13, 2011
Medicare and Social Security Trustees Issue Warning of Looming Insolvency

 

 According to the programs’ own trustees, the unsustainable future of Medicare and Social Security threatens the health and retirement security of America’s seniors.

  • President Obama and Congressional Democrats continue to engage in a partisan campaign to attack efforts to save and strengthen these critical programs – while offering no serious solutions of their own.

  • Debt Held by Public = $9.67 trillion

 

May 25, 2011
Senate Unanimously Rejects President’s FY2012 Budget; Vote is 97-0

  • While the President’s plan to accelerate our nation toward bankruptcy is unanimously rejected, the stunt on the Senate floorthe bankruptcy of Senate Democrats’ ideas.

  • Senate Democrats have still not proposed any budget.

  • Debt Held by Public = $9.72 trillion

June 23, 2011
CBO Director Further Discredits President’s Fiscal Record

  • In testimony before the House Budget Committee, CBO Director Doug Elmendorf responds to questions on the President’s ‘Framework’: “We don’t estimate speeches.  We need much more specificity than was provided in that speech for us to do our analysis.”

  • Debt Held by Public = $9.74 trillion

July 8, 2011
Unemployment Hits 9.2%; Day 800 Since Senate Democrats Last Passed A Budget

  • A devastating jobs report that shows the unemployment rate at 9.2% coincides with the 800th day since Senate Democrats last thought the federal government needed a budget.

  • Debt Held by Public = $9.75 trillion

July 11, 2011
Senator Conrad Gives Budget Speech on Senate Floor

  • On Day 803 since the Senate last passed a budget, Senate Budget Committee Chairman Kent Conrad takes to the Senate floor to deliver a speech about the Senate Democrats’ non-existent budget resolution.

  • Senator Conrad makes the case for imposing over $2 trillion in new taxes, but provides no actual budget resolution and no credible details.

  • Debt held by Public = $9.75 trillion

July 15, 2011
President Holds Press Conference: “We’re Running Out of Time” to Deal with Debt

  • President Obama tells reporters: “I've got reams of paper and printouts and spreadsheets on my desk, and so we know how we can create a package that solves the deficits and debt for a significant period of time.  But in order to do that, we got to get started now.”

  • The American people have still not seen any “paper” or “printouts” of what specific spending cuts the President supports.  The American people have still not seen any “spreadsheets” from the White House to corroborate their claims of having offered a deficit reduction plan.

  • While it’s long past time for Washington “to get started now” on tackling our debt problems, President Obama has still not proposed a credible budget, and Senate Democrats have still not proposed any budget.

  • Debt Held by Public = $9.75 trillion

 

The problem is not collecting too little tax revenue, the problem is the reckless spending, of which Obama has taken to a whole new level.

 

 edit;

The Ryan budget would have revitalized the economy, spurred economic growth, cut taxes across the board, preserved medicare for seniors, medicaid, and the S-chip program for children.

The community organizer-in-chief didn't think so. Chuck Schumer didn't think so either, Schumer lied about the Ryan plan 'killing' medicare all the while knowing that the Ryan plan DOES NOT touch medicare and knowing that Obamacare will in fact, destroy medicare.

 

Now, Schumer is saying that the Cut, Cap, and Balance budget will "kill medicare".

 

I guess "kill medicare" is just like using the word "extremist" in which Schumer replied, "I  use the word extremist because that is what I've been instructed to say."

 

http://www.youtube.com/watch?v=E_eCS4nU9J8

 

 

 

If this were the private sector, these frauds would either be unemployed, or in prison.

 

Solution: Washington needs to operate off of a limited budget just as responsible American citizens have to do in their daily lives. NO MORE TAXES because it will NEVER be enough to satisfy the bureaucrats in Washington.

 

Soothsayerman
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WASHINGTON —

WASHINGTON — Negotiations over a broad deficit reduction plan collapsed in acrimony on Friday after Speaker John A. Boehner suddenly broke off talks with President Obama, raising the risk of an economy-shaking default.

 

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DOCUMENT: Boehner's Letter on Leaving Debt Talks

 

Interactive Graphic

Roll Call Vote in the Senate on the House's Budget Plan

  Graphic

Comparing Deficit-Reduction Plans

 The latest turn in the summer’s epic clash between the White House and Congressional Republicans came little more than a week before the government hits its borrowing ceiling, and set off accusations from both sides about who was to blame.

A visibly angry President Obama, in a hastily scheduled White House news conference, demanded that Congressional leaders come to the White House on Saturday morning. “I want them here at 11 a.m. tomorrow,” he said. “They are going to have to explain to me how it is that we are going to avoid default.”

Mr. Obama said Mr. Boehner had stopped returning his calls when it became clear that rank-and-file House Republicans would not agree to raise revenues on wealthy Americans as part of a debt-reduction deal, despite Mr. Obama’s concessions on reducing future spending for Medicare, Medicaid and Social Security. Both sides have sought a deficit-reduction agreement as part of the essential vote to raise the government’s $14.3 trillion debt limit, which will be reached Aug. 2.

In a letter to his Republican colleagues on Friday night, Mr. Boehner said, “A deal was never reached, and was never really close.” He added: “In the end, we couldn’t connect. Not because of different personalities, but because of different visions for our country.”

The speaker said Mr. Obama wanted to raise taxes too high and would not make “fundamental changes” to entitlement benefit programs like Medicare.

But according to a White House official, Mr. Obama had agreed over the coming decade to cut $250 billion from Medicare spending and $310 billion from other domestic entitlement programs, like farm subsidies and education programs. And Mr. Obama was willing to change the formula for Social Security cost-of living adjustments, which many economists say would more accurately reflect inflation, for savings of about $125 billion more.

All of Mr. Obama’s concessions on the benefit programs were contingent, however, on Mr. Boehner and Republicans agreeing to higher taxes for wealthy individuals and corporations.

At the news conference, Mr. Obama said Republicans were forfeiting an “extraordinarily fair deal” to trim the deficit and raise the debt ceiling. “I have gone out of my way to make compromises,” the president added.

“Essentially what we had offered Speaker Boehner was over a trillion dollars in cuts to discretionary spending, both domestic and defense,” Mr. Obama said. “We then offered an additional $650 billion in cuts to entitlement programs Medicare, Medicaid, Social Security. We believed that it was possible to shape those in a way that preserved the integrity of the system, made them available for the next generation and did not affect current beneficiaries in an adverse way.”

Republicans, though, said that the White House pushed for more revenue midway through the talks. “The White House moved the goal posts,” Mr. Boehner said in a news conference.

The breakdown was the second time this month that Mr. Boehner had walked away from the table with Mr. Obama after word of their private talks were leaked to the news media, provoking protests from Republican lawmakers and antitax conservative groups.

“I’ve been left at the altar now a couple of times,” Mr. Obama said. “And I think that one of the questions that the Republican Party is going to have to ask itself is, Can they say yes to anything?” 

This time, however, Mr. Obama had also faced a firestorm from within his party, because of the spending cuts he was considering with Mr. Boehner.

Hours before the tempest, the three top stewards of the nation’s financial system — Treasury Secretary Timothy F. Geithner; Ben S. Bernanke, chairman of the Federal Reserve, and William C. Dudley, president of the Federal Reserve Bank of New York — had met to discuss how to react to shield the economy from the blow if Congress failed to raise the debt limit. But in a joint statement, they said they remained confident Congress would act.

Mr. Obama, too, said he thought that default could be avoided. “I am less confident at this point that people are willing to step up to the plate and actually deal with the underlying problem of debt and deficits.”

 

NY Times

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This is not Chicago.
Soothsayerman wrote:

A visibly angry President Obama, in a hastily scheduled White House news conference, demanded that Congressional leaders come to the White House on Saturday morning. “I want them here at 11 a.m. tomorrow,” he said. “They are going to have to explain to me how it is that we are going to avoid default.”

 

That's easy. Pass Cut, Cap, and Balance. It addresses all aspects of governmental spending, its fiscally responsible, it raises the debt limit, and the government will STILL be massive in it's scope and reach after it's passed. In which, the latter should make the democrats happy. I don't get it.

Obama has been presented with 2 solid budget plans, The Ryan Plan and Cut, Cap, and Balance. BOTH were rejected! Democrat Senator majority leader Harry Reid would not even allow the Ryan bill or Cut, Cap, and Balance to be debated on the Senate floor!

Cut, Cap, and Balance RAISES the debt limit just as Obama and the Democrats want, fully funds medicare, medicaid, S-chip, and social security. Obama and the democrats REJECTED it!

http://www.foxnews.com/politics/2011/07/22/senate-votes-to-set-aside-cut-cap-and-balance-plan-proposed-by-house-gop/

So, I don't see why Obama is angry?? If anyone should be angry it should be the Congressional Republicans that have actually presented a bill; 2 bills to be exact, and if you include the McConnell/Reid gang of six plan, that makes 3 which, is still only in draft stage and not an actual bill as of yet.

Obama and the Democrats have presented nothing. Except for 1 crazy spending bill that was roundly defeated 97-0. He couldn't even get that socialist Independent Bernie Sanders (VT) to support it!

 

 

Mr. Obama said Mr. Boehner had stopped returning his calls when it became clear that rank-and-file House Republicans would not agree to raise revenues on wealthy Americans as part of a debt-reduction deal

 

 

The NY times columnist "conveniently" omitted to report that Obama interjected 450 billion in discretionary spending, thats why Boehner is taking the right stance on Obama.

 

 

 Mr. Obama was willing to change the formula for Social Security cost-of living adjustments, which many economists say would more accurately reflect inflation, for savings of about $125 billion more.

 

 

Who the hell are these 'many economists'? Do they not know the astronomical cost of Obamacare and what it is going to do to the economy and the health care field? Not to mention the anti-business Cap and Trade.

 Obama's 'many economists' must be like his 'many scientists' that tell him mankind is causing global warming when there is not one shred of evidence to support "man-made" global warming.

 

 

All of Mr. Obama’s concessions on the benefit programs were contingent, however, on Mr. Boehner and Republicans agreeing to higher taxes for wealthy individuals and corporations.

 

 

Wealthy individuals defined by Obama is small businesses earning $250,000/yr. That doesn't take in the fact of payrolls, taxes, healthcare, embedded taxes, environmental impacts fees, local licensing fees, utilities, and other state and local taxes.

So, this 'rich' 'wealthy' small business owner after it is all said and done, will probably only bring home less than $175,000/yr in personal income. Then he has his own bills, mortgage, utilities, fuel costs, and a family to feed. 

How does this 'rich' 'wealthy' business owner re-coup? You got it. Layoffs, which leads to higher unemployment, or either just fold and close shop like so many businesses have in the last two years. Just like Chet's Restuarant. Remember that? Obama in a speech, attributed the indirect success of Chet's restuarant in Ohio to the Chrysler bailout.

A week later, Chet's Restuarant closed down after 70 years in business.

http://www.theblaze.com/stories/ohio-restaurant-closes-one-week-after-obama-mentions-it-in-speech/

This attack on small businesses (our employers), the economic engine of America, especially during a recession will surely destroy more and more small businesses resulting in massive unemployment. Some states are already at 12-15% unemployment.

 

 

At the news conference, Mr. Obama said Republicans were forfeiting an “extraordinarily fair deal” to trim the deficit and raise the debt ceiling. “I have gone out of my way to make compromises,” the president added.

 

 

Baloney! Fair deal for who? Him?

Make compromises?? Obama and Reid would not even allow a Senate debate on the Ryan Plan or Cut, Cap, and Balance much less compromising on certain aspects of the bills. How can you compromise when you won't even let the bills be debated in the Senate? Better yet, how is this "going out of his way" to make compromises? Ridiculous!

http://www.foxnews.com/politics/2011/07/22/senate-votes-to-set-aside-cut-cap-and-balance-plan-proposed-by-house-gop/

 

 Oh, he's went out of his way alright. He went out of his way to demogogue the Republican budget proposals and scaring seniors about social security checks not arriving due to no budget deal when he knows there is more than plenty of money still coming into Washington to fully fund social security, medicare, medicaid, and s-chip.

Obama has not even been engaged up until about two weeks ago. He's been too busy traveling, campaigning all over the country for 2012, and playing golf for crying out loud.

 

 

“We believed that it was possible to shape those in a way that preserved the integrity of the system

 

 

Yeah right, three years of record deficit spending and tax hikes, massive governmental regulations in a recession, a massive stimulus bill for 'shovel-ready' jobs that weren't so shovel ready as you stated several weeks ago, and your taking over 1/6th of the economy with obamacare proves that dead wrong.

The 'system' you speak of, is Free-market Capitalism. You are not preserving the integrity of our free-market system with your anti-business legislation, your destroying it. Why should we trust you Mr. President?

 

 

Republicans, though, said that the White House pushed for more revenue midway through the talks. “The White House moved the goal posts,” Mr. Boehner said in a news conference.

 

 

Right! to the tune of 450 billion in discretionary spending at the last minute.

 

 

The breakdown was the second time this month that Mr. Boehner had walked away from the table with Mr. Obama after word of their private talks were leaked to the news media,

 

 

Exactly. Obama ran straight to the complicit media to attack the Republicans, and as usual, all the mainstream media types went forth repeating the white house talking points afterward. This is what community organizers do, stir crap till it stinks, no different in the presidency.

This is why Boehner decided to go and try to work with the Senate and congress instead of Obama directly. Obama is nothing more than a campaigner full of Castro/Chavez-like platitudinal speeches and vacuuous promises, This man is not a problem solver. He is indecisive.

 

“I’ve been left at the altar now a couple of times,” Mr. Obama said. “And I think that one of the questions that the Republican Party is going to have to ask itself is, Can they say yes to anything?”

 

Sure they can! Republicans have been "saying yes" for the last 40 years when they were the minority in the House from 1952 until 1994, but they are not going to say yes to punishing the producers in this Country and rewarding the non-producers.

Obama needs to learn that on this level of politics, not everybody is simply going to be a 'yes' man for him like he has been commonly use to all his life. Obama has never had anyone oppose him and that's all new to him. His community organizing strong arm tactics aren't as effective in Washington as they were in Chicago against Citicorp and others.

 

 

This time, however, Mr. Obama had also faced a firestorm from within his party, because of the spending cuts he was considering with Mr. Boehner.

 

Who in his party?... Firestorm??. Give me a break! The Democrats are a rubber stamp for Obama.

This is why the media isn't trusted anymore. Crap like this. Making Obama into some kind of "the man in the middle" and when this is all over, I guarantee you, the media will rant and rave over Obama like he is some kind of hero of epic porportions, when he really hasn't done a damn thing. Hey, he didn't get the nickname Senator "vote present" Obama for nothing, he was indecisive back then, and he's indecisive now, plain and simple.

Mr. Obama, too, said he thought that default could be avoided. “I am less confident at this point that people are willing to step up to the plate and actually deal with the underlying problem of debt and deficits.”

 

Oh really? Is that why you rejected EVERY debt reduction proposal your so-called 'commission on deficit reduction' you created under Ray Lahood? Disingenuous. 

But that is what you get when you elect a president that has never ran a business, never made a payroll, or never has worked for someone else in the private sector. He has always worked in government. He has always lived off government. All he knows is, tax the "evil" rich, and the bigger the government, the better. A Marxist.

The NY times blew this one as usual by painting Obama as the great, level-headed moderate compromiser, and Boehner as the obstructor.

It's no wonder that the New York Times, once a great newspaper, is on the brink of bankruptcy.

 

 

 

JIMV
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Obama shifted the goal

Boehner had a deal involving over $800,000,000,000.00 in new revenues, a BIG concession from him BUT, on Thursday, Obama trashed the agreement and demanded another $400,000,000,000.00...

 

JIMV
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(No subject)

Soothsayerman
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Nothing like politics to

Nothing like politics to entertain and get the blood flowing!@! 

It's like what water rafting off Niagara Falls but lasts longer.

The only problem is that after it's over, you don't really know what happened.

Soothsayerman
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... and please always

... and please always remember...

If you get the majority of your news from only one of these

CNN

FOX

NPR

Radio Free America

You are pretty much brainwashed.  Read a paper, NY Times, Washington Post, The Economist,

Hell, even reading Barons or the Wall Street Journal.

Getting the news from only those three is like trying to get a masters degree in psychology from watching "Friends" on television.

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Getting your information from

Getting your information from the media doesn't mean it is okay to get your information from the New York Times.  What planet do you live on?

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yep
Soothsayerman wrote:

Nothing like politics to entertain and get the blood flowing!@!

lol :-)

I agree. Nothing like a spirited debate.angle

 

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