You are here

Log in or register to post comments
soulful.terrain
soulful.terrain's picture
Offline
Last seen: 6 months 6 days ago
Joined: Nov 22 2010 - 12:15pm
Obama's spending spree by the numbers

Obama’s Spending Spree: By the Numbers

February 14, 2011 12:40 P.M. By Andrew Stiles
Here is President Obama’s budget for fiscal year 2012 (and outlook through 2021). And here is a look at some of the numbers that stand out:

$3.73 trillion — total spending this year (25 percent of GDP, highest levels since World War Two).

$46 trillion — total spending over the next decade.

$8.7 trillion — total new spending over the same period.

$26.3 trillion — Total new debt, including entitlement obligations, predicted by 2021.

$7.2 trillion — Total deficit predicted by the end of the decade.

$1.1 trillion — How much the White House estimates the proposal will reduce the deficit over the next ten years.

$4 trillion — How much the president’s deficit commission recommended reducing the deficit over the next ten years to avoid financial catastrophe.

$1.6 trillion — The projected annual deficit for 2011 (11 percent of GDP), up from $1.3 trillion in 2010.

$2 trillion — Amount the budget will raise taxes on business and upper-income families over the next ten years, which includes letting the Bush-era tax rates expire in 2012 (for incomes $250,000 and up).

$50 billion — Amount the administration plans to spend this year on infrastructure and transportation “investments.”

$30 billion — Amount dedicated to a “National Infrastructure Bank to invest in projects of regional or national significance to the economy,” including the much-touted high-speed rail initiative.

$77.4 billion — Funding allocated for the Department of Education, a 22 percent increase from 2010 levels, and a 35 percent increase from 2008 levels.

$29.5 billion — Total spending on the Department of Energy, a 22 percent increase from 2008 levels.

$9.9 billion — Funding allocated for the Environmental Protection Agency (EPA), a 30 percent increase from 2008 levels.

$150 billion — Total amount the White House plans to spend next year on research and development programs.

8.2 percent — Predicted unemployment rate in 2012.

Zero — Political risk the president was willing to assume by proposing meaningful reform to entitlement programs. That said, Republicans haven’t exactly been willing to stick their necks either, at least not yet.

JIMV
JIMV's picture
Offline
Last seen: 10 months 3 weeks ago
Joined: Jan 31 2008 - 1:46pm
This is what he does....he

This is what he does....he does not take risks, he waits for Congress to act, his Congress or the Republicans and then he blames them...

Obama and leadership are not ideas that intersect very often.

soulful.terrain
soulful.terrain's picture
Offline
Last seen: 6 months 6 days ago
Joined: Nov 22 2010 - 12:15pm
redistribute it!
JIMV wrote:

This is what he does....he does not take risks, he waits for Congress to act, his Congress or the Republicans and then he blames them...

Obama and leadership are not ideas that intersect very often.

I find it amazing but not suprising that the same deficit commission Obama appointed, is the same deficit commission he is by in large simply ignoring.

Hollywood made a movie some years ago called: "Wag The Dog."
I believe that title is applicable to the current administrations modus operandi.

I read that Obama was increasing spending for community action programs. What is and who are these 'community action' programs?

Community Organizer....Community action...??

JIMV
JIMV's picture
Offline
Last seen: 10 months 3 weeks ago
Joined: Jan 31 2008 - 1:46pm
He is just talking the

He is just talking the Clinton style and improving it. Clinton always took credit for stuff he had little to do with and blamed others for things he was responsible for, depending on how popular it was. Think welfare reform.

soulful.terrain
soulful.terrain's picture
Offline
Last seen: 6 months 6 days ago
Joined: Nov 22 2010 - 12:15pm
exactly
JIMV wrote:

He is just talking the Clinton style and improving it. Clinton always took credit for stuff he had little to do with and blamed others for things he was responsible for, depending on how popular it was. Think welfare reform.

Jim, you nailed it. I bet if we have a government shutdown just like what happened under Clinton, Obama will blame the Republicans, regurgitate the bi-partisianship mantra, and the media will be a rubber stamp just like it was under the Clinton administration.

The Democrats will try to force a spending budget that is clearly unsustainable. Even today, Geithner testifying before the Senate Judiciary, responded to Republican Senator Jeff Sessions' questioning admitted that it was unsustainable over the long term.

So much ineptness and confusion in the Obama administration due to idelogical beliefs conflicting with real world budgetary solutions that America desperately needs.

Mark

Bluesbob
Bluesbob's picture
Offline
Last seen: 3 months 1 day ago
Joined: Dec 22 2005 - 11:00am
His hands are tied...

While Obama may not look like he can do anything about the right-wing agenda, especially after the mid-term elections, I'd like to see him stand up for his base, even if it means he doesn't get re-elected. But I'm willing to watch how things play out, maybe he has a plan.
I'm getting a kick out of watching the old-school GOP trying to bring the Teapublicans under control. The truth is that without the taxes to pay for the things we want, we have to borrow. So we'll watch the House try to live up to their tax cuts and promises while they figure out where to chop and still retain power in 2012. Heavy lies the crown...

  • X
    Enter your Stereophile.com username.
    Enter the password that accompanies your username.
    Loading