Posted on 04/08/2013 2:10:06 PM PDT by Sub-Driver
Obama: Unbalanced Budget 'Doesn't Spend Beyond Our Means' April 8, 2013 By Fred Lucas
(CNSNews.com) – President Barack Obama said his budget--to be released Wednesday--would not spend beyond our means.
“It’s a budget that doesn’t spend beyond our means, and it’s a budget that doesn’t make harsh and unnecessary cuts that only serve to slow our economy,” Obama said Saturday during his weekly address. “We’ll keep our promise to an aging generation by shoring up Medicare, and we’ll keep our promise to the next generation by investing in the fundamentals that always made America strong--manufacturing, innovation, energy and education.”
However, on Friday, White House Spokesman Jay Carney did not say the president's budget would ever balance the federal accounts. Instead, he said it would reduce the "deficit." The deficit is the amount the government spends above and beyond revenue in any given year. Deficit spending is financed by the government borrowing money and increasing the national debt.
The federal debt now exceeds $16.7 trillion.
“In addition to replacing the sequester, we would have an additional $600 billion in deficit reduction bringing us to $4.3 trillion overall over a decade, which exceeds the goal set by bipartisan commissions,” Carney said.
The Congressional Budget Office said in its March Monthly Budget Review, “If lawmakers enacted no further legislation affecting spending or revenues, the federal government would end fiscal year 2013 with a deficit of $845 billion.”
(Excerpt) Read more at cnsnews.com ...
And where exactly is the GOP, hell the RNC?!
NOTHING about the budget, nothing about amnesty and NOTHING about the 2nd Amendment.
crickets
Yet, some still argue that liberal Mitt would have made a difference....
NewSpeak.
The US government doesn’t need “revenues” - they can print all the money they want. Income taxes don’t fund government operations, they serve the purpose of destroying money and reducing the money supply.
http://www.huffingtonpost.com/robin-koerner/monetary-policy_b_1270711.html
Once the debt hits $19.4 Trillion he will seize retirement accounts (equals the same number). mission accomplished
Wow! Things are looking up!
bump
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