Obama Sends Congress $3.77 Trillion Spending Plan

RCP ^ | April 10, 2013 | Martin Crutsinger

[Sir Napsalot]

WASHINGTON (AP) -- President Barack Obama is sending Congress a $3.77 trillion spending blueprint that seeks to achieve an elusive "grand bargain" to tame runaway deficits by raising taxes further on the wealthy and trimming popular benefit programs such as Social Security.

The president's proposal being unveiled Wednesday includes an additional $1.8 trillion in deficit reduction over the next decade, bringing total deficit savings to $4.3 trillion, based on the administration's calculations.

It projects that the deficit for the 2014 budget year, which begins Oct. 1, would fall to $744 billion. That would be the lowest gap between spending and revenue since 2008.

But instead of moving Congress nearer a grand bargain, Obama's proposals so far have managed to anger both Republicans, who are upset by higher taxes, and Democrats upset with cuts to Social Security benefits.

(Read the details at source)

[Sir Napsalot]

Deficit reduction yada yada yada, in the meantime Obama proposes to vastly expand the power of gubmint (and thus gubmint itself).

[no-to-illegals]

I smell another zer0 vote for zer0. These senators will concoct an even worse plan. zer0 is banking on it.

[PGalt]

Lots of stuff in the proposal. It’s much easier to DEFUND socialist collectives, foreign and domestic. DISMANTLE any domestic socialist agency, ngo, bureaucracy. No new taxes and current taxes reduced accordingly. Legislators, state and national can be reduced to part-time jobs with NO benefits, NO retirement, NO perks, NO insurance, NO staff, NO lobbyists. It’s easy to...

live - free - republic

BIG GOVERNMENT IS CRONY SOCIALISM. Death by a million cuts BUMP!

[Sir Napsalot]

>>> These senators will concoct an even worse plan.

Because it is not their personal money. Some vague Joe Schmoes are paying it.

[no-to-illegals]

Wait one minute ... SanFran-nan has been spotted. A bird left evidence on her jacket this A.M. That must have been some party last night.

[SECURE AMERICA]

Here is why we have Obama.
A friend that thinks that Obama walks on water saw this and says see Obama is doing something about our “debt”
NO HE IS NOT. But she can not understand that. He is claiming he will reduce the rate (deficit) that our debt grows. But the debt still grows. Obamoites can never see the whole picture. They lap up whatever the MSM is pushing. Try and explain it to them and you are just a hater.........

[treetopsandroofs]

There are a lot HERE who will trust and defend whatever Big Media is pushing today, especially if it doesn’t DIRECTLY relate to politics.

For some reason, they believe they can trust the media, and will bash anyone here who won’t believe the headline without question. Anything objectionable must be a typo or an innocent mistake.

[Bon mots]

Let me see where we are going...

Total IRS Revenue	$2.50 Trillion
Federal Budget	$3.77 Trillion
Surplus/Deficit	$1.27 Trillion deficit (per year and growing)

Now, we have two other problems...

Total IRS Revenue:	$2.5Trillion
Entitlement Spending:	$2.5Trillion
Interest on National Debt:	$2.6Trillion

One last thing to worry about:

Official Government Debt:	$18Trillion
Real Government Debt:	$90Trillion - including off balance sheet obligations

So when do they stop the printing presses?

[Nip]

You are correct about people believing what they want to believe.

The article contains the reason to reject Obama’s 2014 budget.

The article claims a decade long “savings” of $ 4.3 trillion dollars and an annual deficit of $ 744 billion.

But when you use the same timescale, I used a decade, to compare the two figures it looks like this: A decade long “savings” of $ 4.3 trillion and a decade long deficit of $ 7.44 trillion.

That's right folks the 2014 proposed budget will increase the deficit by $ 3.14 trillion. BTW - since when has any long term projected program been based on an accurate projection? ObamaCare anyone? The “war” on poverty?

[txrangerette]

Please refrain from pinging me to your statements especially since there’s no way to tell what they mean, who they are aimed at, why I was pinged, why they are such over-the-top exaggerations etc.

Is this a carry-over from something you misunderstood that I wrote somewhere else? That’s what I think is going on, but like I said, it’s impossible to tell.

On the story that leads this thread, Obama’s “budget” is just another one of his political tricks. It isn’t real. If there’s anyone on Free Republic - other than the occasional troll that’s about to get banned - who doesn’t know that, I’ll eat my hat.

[Eagle of Liberty]

That's right folks the 2014 proposed budget will increase the deficit by $ 3.14 trillion.

But remember that we use baseline budgeting in Washington, so even if we couldn't afford the $3.5 Trillion that was spent last year, that is that gauge for future budget discussions. Washington is one of the only places that has no desire to factor in ACTUAL REVENUE into its budget. The $4.3 Trillion "savings" has already been factored in. So we will be the entire $7.44 Trillion more in debt in 10 years. The laughable part is that this is something the Democrats, who always want to brag about how Bill Clinton generated a surplus that Bush pissed away, will celebrate as an accomplishment.

Each Party's deficit-reduction plan is simple:

Republicans, at least some, want to get there by cutting actual spending.

Democrats want to get there by raising more revenue. Democrats have ZERO desire to get rid of any bit of expanded government that they fought so hard to get, so they need more of OUR money to fund it.

[Spartan302]

I just had a wild thought, Obama has been in secret talks with North Koreas leader and has agreed to swap positions, Kim Jong gets America and Obama gets a country already tamed, converted and without ANY opposition, absolute gun control, no 2A issues and above all dictatorship for life.

Kim Jong meanwhile may actually be a better leader....

[hattend]

It projects that the deficit for the 2014 budget year, which begins Oct. 1, would fall to $744 billion. That would be the lowest gap between spending and revenue since 2008.

1. Since Obama took office
2. Still 2 times higher than Bush's last deficit

The lamestream press makes anything that Obama does sound so rosy.

[treetopsandroofs]

I included you in a reference I made regarding your post as per necessary etiquette.

Please do not ever again send me threats off-line.

Really bad form. Tsk, tsk.

[Joe Boucher]

Go ahead congress, kiss this Marxist turds ass like usual.
Can’t be seen a racists now can ya?