Posted on 04/09/2011 12:53:55 PM PDT by Hojczyk
Obama talked again about “living within our means” in his Weekly Address today.
Beginning to live within our means is the only way to protect the investments that will help America compete for new jobs – investments in our kids’ education and student loans; in clean energy and life-saving medical research.
Of Course, Obama was bragging about the fact that he agreed to cut $38.5 billion from the federal budget this year. This is after Obama, Pelosi, Reid and Democrats added over a trillion dollars to the annual federal budget in the last 4 years.
That’s at least a 30% increase in federal spending in just 3 years. Is that “living withing our means?”
The Obama-Pelosi national deficit is over a trillion dollars for the third year in a row. Another Obama record.
nobamna and his minions have already stolen enough money from our children and their children that they will be lucky to be anything but serfs. They hate you and your family.
And these idiots call the free market, "voodoo economics." I don't think these guys would recognize a supply-demand curve if they crashed into it.
It is obvious the guy wasn’t a math major. Guess that is why he went into Political Science.
You only need to cut $1.6 trillion more, Obama.
Not only is he a usurper but a stupid one at that!! Soros needs to update those cd’s he plugs into barrys “scars” and at least attempt to make him look a little smarter!
$39 billion is far less than 1% (actually 0.28%) of the national debt, and only about 1% of the current year federal spending. It’s like a person who is $15,000 in debt boasting that he has cut his annual spending by $42. The general public probably has no clue about the insignificance and inadequacy of the $39 billion in cuts. Nor is it likely that they will be “real” cuts.
You expect Obama to tell the truth as he continues to loot the taxpayers for his own special interests?
You only need to cut $1.6 trillion more, Obama
NO. Headline should be he thinks a 2 trillion dollar deficit is.
This could be a great opportunity for Obozo to further push his abortion agenda! Much in the same spirit of telling people who criticize gas prices to "trade in your car", he can tell prospective mothers to "just abort your babies" to save them from the crush of future debt.
He can’t believe what he has said. Anyone who thinks adding a trillion or more, and cutting 38 billion is a big cut and living within our means has lost touch with reality. Either that or he has evil intent for our country, and since the former is not likely I am starting to believe more the latter.
They "cut" $38.5 billion from the proposed budget. They however increased the budget by ~$100 billion from last years stimulus soaked budget.
There was no cut in spending -- there was an increase in spending.
This could be a great opportunity for Obozo to further push his abortion agenda! Much in the same spirit of telling people who criticize gas prices to “trade in your car”, he can tell prospective mothers to “just abort your babies” to save them from the crush of future debt.
It's not even that.
It's like a person who is $15,000 in debt, who plans to go an additonal $1,000 in debt and then only goes an additional $500 in debt.
Here’s an idea. Let’s start charging illegals that amount or double that amount for each anchor they drop in this country. Let them pay up front for their kid’s “citizenship”. Otherwise pack them back to their POS countries along with the anchors so we aren’t separating parents from spawn.
FUBO & FAD
Dragged kicking and screaming to live within our means and even that conclusion is a bald faced lie.
Actually we sell mostly short term debt and pay it off with even more short term debt. Rates are microscopic these days for short paper so its really not that horrible from a refinancing perspective.
The real problem is selling 100 billion in 3 month notes and selling 120 billion to replace that with. That 20 billion is all spending. When rates go higher they probably gap higher because we (our nation) will sell more longer term debt in anticipation of even higher rates. That increased demand will be welcome at first but afterward’s push rates up sharply. A nation buying our long dated treasuries will be able to sell them in the market of course but those transactions themselves can affect value. Buying paper over and over for say China is easy for them The horizon is right there,no losses to take ever. Own 30 year paper and you have a totally different investment.
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