The Washington Post babbled again today about Obama inheriting a huge deficit from Bush. Amazingly enough, a lot of people swallow this BULL. So once more, a short civics lesson
Budgets do not come from the White House. They come from Congress and the party that controlled Congress since January 2007 is the Democratic Party.
Furthermore, the Democrats controlled the budget process for FY 2008 & FY 2009 as well as FY 2010 & FY 2011. (FY = fiscal year)
In that first year, they had to contend with George Bush, which caused them to compromise on spending, when Bush somewhat belatedly got tough on spending increases.
For FY 2009 though, Nancy Pelosi & Harry Reid bypassed George Bush entirely, passing continuing resolutions to keep government running until Barack Obama could take office. At that time, they passed a massive omnibus spending bill to complete the FY 2009 budgets.
And where was Barack Obama during this time? He was a member of that very Congress that passed all of these massive spending bills, and he signed the omnibus bill as President to complete FY 2009. Let's remember what the deficits looked like during that period: (below)
If the Democrats inherited any deficit, it was the FY 2007 deficit, the last of the Republican budgets. That deficit was the lowest in five years and the fourth straight decline in deficit spending. After that, Democrats in Congress took control of spending, including Barack Obama, who voted for the budgets.
If Obama inherited anything, he inherited it from himself.
In a nutshell, what Obama is saying is I inherited a deficit that I voted forand then I voted to expand that deficit four-fold since January 20th. There is no way this will be widely publicized unless each of us sends it on! This is your chance to make a difference.Stay Focused, Connected, Informed & Inspired.
The Obama budget is a fiscal joke, or a fiscal nightmare for our future. The American people sent a message loud and clear to Congress and President Obama on November 2nd and it is obvious that he didn't get it.
Senator Jon Kyl points out that Obama's budget adds nearly $13 trillion in debt by the end of the decade and the gross debt will reach $26.3 trillion by the end of the decade - which is 107 of gross domestic product.
Senator Kyl says that: "The debt will eclipse the size of the entire economy."
The United States will have a mega-financial disaster on its hands, which will look much like Greece does today.
Sen. Kyl states:
"That’s a gloomy outlook, and it would be prudent to stop raiding the treasury. But, not in this budget. Under President Obama’s budget, the size of the federal government will nearly double since he took office. Over the next 10 years, the President proposes $8.7 trillion in new spending, with $46 trillion in total spending. Spending in this fiscal year is projected to be a record $3.8 trillion, or 25.3 percent of gross domestic product, the highest spending-to-GDP ratio since World War II!"
I agree with Sen. Kyl. This is a gloomy outlook. This type of financial disaster can be avoided if President Obama, the Democrats, and the Republicans have the will and listen to the American peoples' voices which were spoken loud and clear in the November elections.
The Obama budget would increase taxes on families, small businesses, and job creators at a time when our economy is still very fragile. How does raising taxes on small business owners and other job creators encourage businesses to hire new employees? Simply put, it doesn't. It decentivises the job creators from opening up new stores and hiring new employees. It is a real possibility that their will be layoffs due to Obama's fiscal insanity. With this kind of backwards mentality of penalizing the backbone of our country - the entrepreneurs - in the near future I can see the unemployment rate rising above 10 percent.
But, does the GOP get it?
The GOP seems to be waving the white flag of compromise and giving into the Democrats. Most of what is in the GOP's Stop Gap proposal consists of cuts which were already proposed by Obama and the Democrats. The GOP is acting very weak and are compromising to avoid a government shutdown. I am all for a government shutdown. What has the government done right in the past few years? The government has expanded like a huge balloon full of helium and it needs to be popped and shrunk down to a much smaller, acceptable size. The Federal government has invaded our lives, like an invasion of aliens from outer space. This ever expansive government needs to be reigned in and if it takes a government shutdown to save money and show the Democrats that we want to save or country from fiscal ruin, so be it. The dynamics of our economy is different than in 1995 and there are more people who are more aware that the United States needs to get its fiscal house in order.
The GOP didn't even have the will to cut at least $100 billion from the budget, as they pledged to the American people in November. The House approved $61 billion in spending cuts and the GOP can't even stand on principle and put pressure on the Senate to pass those cuts. This is unacceptable and makes me furious. We definitely need to boot some RINO's out of the GOP. These compromisers need to go. I am sick of the GOP being more worried about their political appearances than solving both our budget and deficit woes.
So, sadly I have to say that more than a few in the GOP don't get it. They are indeed kicking the can down the road, albeit a smaller can than the Democrats. But, this should not be the barometer we use to judge the GOP. They must have had some serious wax in their ears during the November campaigns. Or, maybe they have had amnesia? Their actions and words are evidence that we need to remind them consistently and often of the will of the American people and what this country needs in order to get its fiscal house in order.
It seems to me that it is either impossible for Obama to see the truth and reality related to his increased spending versus his predecessor’s spending, or he‘s willfully ignoring the reality and truth . Either way, Obama is clearly as blind as a bat. Bush did overspend. But Obama has accelerated the spending and it has turned into a pandemonium of government spending. In addition, the Obama administration continues the blame game. This is the first President in history, that is an irresponsible crybaby, and that has also filled his administration with a bunch of whiny crybabies. Obama has continued to blame and complain about Bush’s prior spending like a naïve little boy. Obama continues to complain about spending when he could halt spending in certain governmental agencies at any time. But, I guess that solution hasn’t come to Obama or his administration’s mind at any time. How come all these supposed geniuses are so blind? Irresponsible in the worst way? And, they continuously refuse to do the obvious to reduce our deficits. Hmmmm… Obama, his administration, and the Democrats clearly DO NOT want to make any budget cuts or decrease funds for any agency or program to decrease the deficit. Instead they are going on a government spending binge. Plus, Obama makes it obvious that he loves playing the blame game. If they reduced the deficit than the Obama admin couldn’t point to this huge deficit and keep on exaggerating and blaming the Bush admin for the deficit. Obama has increased the deficit by 3X what Bush left him with. The Obama admin is all about illusions, exaggeration, and lies.
But, the Obama administration is making it clear that they are continuing with their modus operandi, and keeping allegiance to the failed liberal philosophy of increased government spending. Obama needs to freaking STOP this runaway freight train of spending before it literally wrecks this country. STOP In the Name of Love! Obama STOP for the love of this country. Stop bankrupting this country into oblivion. Please stop pillaging the American people’s wallets!! Please stop stealing from future generations! So, Mr. President, Stop in the Name of LOVE!!!
Here is a fun video and an interesting article below.
Ten Years Ago? Seriously? By: Keith Hennessey
On Monday when releasing his budget the President said:
The fact is, 10 years ago, we had a budget surplus of more than $200 billion, with projected surpluses stretching out toward the horizon. Yet over the course of the past 10 years, the previous administration and previous Congresses created an expensive new drug program, passed massive tax cuts for the wealthy, and funded two wars without paying for any of it -– all of which was compounded by recession and by rising health care costs. As a result, when I first walked through the door, the deficit stood at $1.3 trillion, with projected deficits of $8 trillion over the next decade.
This is a common refrain from the President and his team. Argument: The previous administration and previous Congresses created an expensive new drug program … without paying for any of it.
•Response 1: Yes, we did. At the time, Congressional Democrats tried and failed to create an even more expensive new drug program without paying for it. (Mr. Obama was not in the Senate at the time.)
•Response 2: This Medicare drug program is ongoing. If the President thinks it is too expensive, then he should propose to make it less expensive. If instead he thinks it should be paid for, then he should propose other spending cuts or tax increases to offset the future costs. Pending health care legislation would instead expand this expensive benefit and pay for the expansion, but would do nothing about paying for the ongoing base costs to which the President is objecting. The past six years of deficit spending from this benefit is beyond President Obama’s control. The future spending is not. He could do this through reconciliation with 51 votes in the Senate.
Argument: The previous Administration and Congresses funded two wars without paying for it.
•Response 1: The Obama Administration is continuing these wars without paying for them, and expanding forces in Afghanistan without paying for that.
•Response 2: Two of those years were with Democratic majorities in the House and Senate. There were legislative attempts to end the Iraq efforts, but none to end the Afghanistan efforts. I don’t remember anyone in the Democratic majority Congress (including then-Senator Obama) making a serious run at cutting other spending or raising other taxes to offset the war costs. Last year Rep. Obey proposed a war tax and was quickly silenced by his colleagues.
Argument: The previous Administration cut taxes for the wealthy without paying for it.
•Response 1: Setting aside the mischaracterization “for the wealthy,” President Obama proposes to extend a significant portion of that tax relief “without paying for it.”
•Response 2: If all the Bush tax cuts are left in place bracket creep will soon cause total federal taxes to once again climb above their historic average of just over 18% of GDP. Repealing these tax cuts would mean the government would be taking far more from the private sector in taxes than it has in the past. I believe taxes are not too low.
•Response 3: Our medium-term and long-term deficit problems are driven by the growth of entitlement spending: Social Security, Medicare, and Medicaid. Raising taxes will not slow this spending, it will just buy us a few years of delay and slow economic growth. CONTINUED
