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A Closer Look at Obama's Budget (this gets worse by the second)
National Review ^ | 03/02 04:33 PM | Brian Riedl

Posted on 03/02/2009 7:28:17 PM PST by Behind Liberal Lines

As we dig into the President's budget, more emerges:

1) Remember the President stating his budget "identified $2 trillion in savings over the next decade?" It actually increases spending by $1 trillion. But he classifies as "savings" $1.4 trillion in tax increases (apparently savings for the government, not for you) and $1.5 trillion "saved" in Iraq relative to a fantasy baseline that otherwise assumes current spending levels forever. The Iraq gimmick is the equivalent of a family deciding to "save" $10,000 by first assuming an expensive vacation and then not taking it.

2) Real federal spending per household — $24,000 before the recession — would reach $33,000 per household by 2019. Between 2008 and 2013, the $5.7 trillion in new debt will come to $48,000 per household.

3) It is easy to "cut the deficit in half" after you've quadrupled it. Furthermore, three upcoming developments — the end of the recession, troop pullout in Iraq, and phase-out of the supposedly-temporary "stimulus" spending — would, by themselves, cut the 2013 budget deficit in half. President Bush was slammed for averaging $300 billion budget deficits while funding a war. President Obama will be praised for running $500 billion deficits in 2013 at a time of (assumed) peace and prosperity.

4) The President's budget proposes a new PAYGO law — and then violates it by $3.4 trillion.

5) The tax increases are staggering. The President would raise taxes by $1 trillion on the top 2.5 million tax filers. That comes to $400,000 per tax filer over ten years. And despite these harsh tax hikes (and a $646 billion cap-and-trade tax hike), the President's rosy budget assumes a much faster economic recovery than CBO or the Blue Chip Consensus.


TOPICS: Business/Economy; Editorial; Government
KEYWORDS: 111th; agenda; bho44; bhobudget; deficit; hopeychangey; impeachobama; obamatruthfile; ourtaxdollars; porkulous; socialism; spreadingthewealth; taxdollars; zero; zeronomics
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Brian Riedl is Grover M. Hermann Fellow in Federal Budgetary Affairs in the Thomas A. Roe Institute for Economic Policy Studies at the Heritage Foundation.
1 posted on 03/02/2009 7:28:17 PM PST by Behind Liberal Lines
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To: Behind Liberal Lines

...Congress has no idea of the cost OR value of anything... how could we think this guy could learn something sane in that insane system?


2 posted on 03/02/2009 7:32:19 PM PST by OneWingedShark (Q: Why am I here? A: To do Justly, to love mercy, and to walk humbly with my God.)
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To: Behind Liberal Lines

Doomed.


3 posted on 03/02/2009 7:32:47 PM PST by Danae (Amerikan Unity My Ass)
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To: Behind Liberal Lines

We are so screwed


4 posted on 03/02/2009 7:34:03 PM PST by mylife (The Roar Of the Masses Coulds be Farts)
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To: Behind Liberal Lines

bookmark


5 posted on 03/02/2009 7:35:13 PM PST by fullchroma (I want my country back.)
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To: Behind Liberal Lines

Gads, this is the Administration of Toads.


6 posted on 03/02/2009 7:35:32 PM PST by Psycho_Bunny (ALSO SPRACH ZEROTHUSTRA)
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To: Behind Liberal Lines

“May you live in interesting times”


7 posted on 03/02/2009 7:36:16 PM PST by Teacher317
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To: Behind Liberal Lines

I used to be ticked. Now I am REALLY ANGRY.


8 posted on 03/02/2009 7:37:12 PM PST by cookcounty ("Think, Schumer! It's plain as the egg on your face!")
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To: Teacher317
“May you live in interesting times”

Isn't that the curse?

Amazing << Hear this. Feel this, and tell me that this isn't music.

Hey Barack HUSSEIN Obama, I went to Harvard too! That was the worst fieldtrip of my life, but I went there...


9 posted on 03/02/2009 7:38:51 PM PST by rdb3 (The mouth is the exhaust pipe of the heart.)
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To: OneWingedShark
...Congress has no idea of the cost OR value of anything... how could we think this guy could learn something sane in that insane system?

Oh, I don' tknow about that - here is a break down of contributions, just the 2008 cycle - Top 3 recipients by industry.

Hedge Funds

1 Obama, Barack (D) Senate $ 1,302,736

2 Clinton, Hillary (D-NY) Senate $ 741,050

3 Dodd, Chris (D-CT) Senate $ 693,250

Commercial Banks

1 Obama, Barack (D) Senate $ 3,149,640

2 McCain, John (R) Senate $ 2,260,396

3 Clinton, Hillary (D-NY) Senate $ 1,514,663

Accountants

1 Obama, Barack (D) Senate $ 1,739,369

2 Clinton, Hillary (D-NY) Senate $ 1,225,658

3 McCain, John (R) Senate $ 1,184,628

Insurance

1 McCain, John (R) Senate $ 2,363,071

2 Obama, Barack (D) Senate $ 2,189,120

3 Clinton, Hillary (D-NY) Senate $ 1,195,995

Lawyers

1 Obama, Barack (D) Senate $42,550,906

2 Clinton, Hillary (D-NY) Senate $16,221,993

3 McCain, John (R) Senate $10,025,899

Lobbyists

1 Clinton, Hillary (D-NY) Senate $ 1,255,586

2 McCain, John (R) Senate $ 1,151,283

3 Obama, Barack (D) Senate $ 555,841

Pharma

1 Obama, Barack (D) Senate $ 1,985,482

2 Clinton, Hillary (D-NY) Senate $ 666,594

3 McCain, John (R) Senate $ 629,884

Movies/TV

1 Obama, Barack (D) Senate $ 8,521,659

2 Clinton, Hillary (D-NY) Senate $ 3,472,923

3 McCain, John (R) Senate $ 1,103,700

Seems they have a real good idea of the value of cost to me.

10 posted on 03/02/2009 7:40:11 PM PST by BigLittle
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To: Behind Liberal Lines

Check out my new Tag...


11 posted on 03/02/2009 7:43:12 PM PST by steel_resolve (I don't see how the Obama administration leads to anything but civil war...)
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To: Behind Liberal Lines

We’re all screwed. I was down at the town clerk’s office today getting a form I needed to fill out, and she told me that there have been several foreclosures recently. Very sad. This isn’t something we’ve had in this area since the depression, with very few exceptions.


12 posted on 03/02/2009 7:43:21 PM PST by Cicero (Marcus Tullius)
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To: BigLittle

... unwittingly you make my point.
How much can be paid for justice?
How much can a soul be bought for?
The answer is: Jesus.

Think about it, a God that puts on human flesh and dies because he is so holy and just that the mere stench of our sins is utterly intolerable... it really was a “us or Him, one’s got to go” situation... so, he put on human flesh and died... and then He adds the further preposterous invitation to follow Him! Not as slaves, which we verywell could be, but as priests and kings, nobles and rulers!

It’s high time we started acting like it and acting justly and desiring righteousness.


13 posted on 03/02/2009 7:46:02 PM PST by OneWingedShark (Q: Why am I here? A: To do Justly, to love mercy, and to walk humbly with my God.)
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To: rdb3

Love your tag line!


14 posted on 03/02/2009 7:46:28 PM PST by Inyo-Mono (Had God not driven man from the Garden of Eden the Sierra Club surely would have.)
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To: Behind Liberal Lines

The worse the mess they make, the more thoroughly and emphatically will they be discredited, their policies rejected, and their political philosophy vilified.

When your enemy is determined to destroy himself, let him. Obama will and should leave office as the most despised President in US history. He will have earned it.


15 posted on 03/02/2009 7:57:01 PM PST by sourcery (Beware The Obama-nable Snow-job Man)
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To: Behind Liberal Lines

Remember how they ridiculed “supply side economics”? Well, they get to defend “Robin Hood ecoonomics”.


16 posted on 03/02/2009 8:09:44 PM PST by VeniVidiVici (Yes, Gorbachev is better than Obama. At least Gorbachev admitted he was a Communist)
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To: Behind Liberal Lines
I also heard on the radio on the drive home - from one of those evil conservative talk-radio shows... That Obama's fantasy numbers also rely on 3+ years of straight 4% growth in the economy. The guest noted that this hasn't happened since the late 1990s and the wildly unsustainable dot-com bubble.

Obama is leading spending us to ruin. (he's no leader)

17 posted on 03/02/2009 8:41:35 PM PST by CodeMasterPhilzar (I'll keep my money, my guns, and my freedom. You can keep the "change.")
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To: Behind Liberal Lines

INTREP


18 posted on 03/02/2009 10:13:21 PM PST by LiteKeeper (Beware of socialism in America; the Islamization of Eurabia)
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To: All

http://www.freerepublic.com/focus/chat/2136635/posts

“Are you looking for a job?”

Note: This thread is updated on a regular basis.


19 posted on 03/03/2009 3:55:38 AM PST by Cindy
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To: Behind Liberal Lines
STOP FISCAL STORMING.

Cap Treasury emissions now.

20 posted on 03/03/2009 4:30:41 AM PST by syriacus ( STOP Obama-made FISCAL STORMING!!!)
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