Free Republic 2nd Quarter Fundraising Target: $85,000 Receipts & Pledges to-date: $24,703
29%  
Woo hoo!! And the first 29% is in!! Thank you all very much!!

Keyword: obamabudget

Brevity: Headers | « Text »
  • Obama budget slashes Great Lakes funding

    03/11/2014 9:17:01 AM PDT · by chessplayer · 12 replies
    WASHINGTON -- President Barack Obama reined in funding for restoration of the Great Lakes in his budget released this week, spurring a backlash among environmentalists from Minnesota and a half dozen other states. Obama's budget proposal for fiscal 2015 slashes $25 million from the current funding level for the Great Lakes Restoration Initiative, which has supported dozens of projects in Minnesota aimed at controlling and monitoring pollutants and preserving and restoring fish and wildlife habitats in Lake Superior. The president's budget cuts another $430 million from the Clean Water State Revolving Fund, which helps communities repair wastewater infrastructure to prevent...
  • Reaction to Obama Budget: Yawns, Spending Increases Won't Fly

    03/08/2014 2:22:17 PM PST · by VitacoreVision · 3 replies
    The New American ^ | 08 March 2014 | Thomas R. Eddlem
    Reaction to Obama Budget: Yawns, Spending Increases Won't Fly 08 March 2014 President Obama dropped his fiscal 2015 budget proposal on Congress March 4 to a chorus of yawns and indifference. The budget featured numerous massive new spending proposals — almost none of which are likely to become law — along with proposals for tax increases on “the rich” and fiscally unsustainable deficits through the rest of his presidential tenure. Even establishment press organs received the budget proposals with a reaction along a spectrum from yawns to cynicism about it's deployment as an election year wedge. Zeke J. Miller...
  • Budget allots $5.5 BILLION for ObamaCare program decried as a ‘bailout’

    03/06/2014 2:02:59 PM PST · by Lorianne · 5 replies
    The Hill ^ | 04 March 2014 | Jonathan Easley
    The White House’s 2015 budget proposes spending $5.5 billion next year on an ObamaCare program that Republicans have labeled a “bailout” of the insurance industry. The Affordable Care Act creates a temporary pool of money, known as risk corridors, to pay insurers who enroll a higher-than-expected number of sick patients through 2016. The exchanges appear to be attracting older consumers, who tend to be sicker. The Health and Human Services Department has said that 25 percent of those who had signed up for ObamaCare coverage between October and December were between the ages of 18 and 34. That’s far below...
  • Budget proposal won’t tame debt, interest would soon exceed military spending

    03/04/2014 7:12:08 PM PST · by Kaslin · 8 replies
    Fox News.com ^ | March 4, 2014
    President Obama's latest budget proposal paints a troubling picture of America's fiscal future. Here's a startling snapshot: -- By 2024, the total national debt would rise from $17.4 trillion to nearly $25 trillion. -- By 2020, U.S. taxpayers would be paying more in interest on the debt than they would on the entire Defense budget. -- By 2017, those interest payments would be bigger than the budget for Medicaid. Despite Democratic claims that President Obama has tackled the deficit, the numbers give a sense of what fiscal hawks -- who have not given up their fight despite an election-year aversion...
  • Obama Unveils $3.9 Trillion ‘Opportunity Agenda’ Budget

    03/04/2014 7:03:46 PM PST · by rktman · 20 replies
    PJMedia.com ^ | 3/4/2014 | Bill Straub
    President Obama issued a $3.9 trillion budget proposal for 2015 on Tuesday that contains heavy new investments in infrastructure upgrades, education and job training. The package, released about a month late in the wake of a two-year spending plan adopted by Congress and signed by the president in December, received little support in the Republican-controlled House – which is expected to release its own proposal shortly – and may not even get much consideration in the Senate.
  • Obama has given up seeking a solution to America's financial woes

    03/01/2014 11:05:44 AM PST · by Sub-Driver · 44 replies
    Obama has given up seeking a solution to America's financial woes American Way: After nearly six years of back-and-forth with Republicans over America's finances, Barack Obama has signaled that a deal is now beyond his grasp John Avlon 5:25PM GMT 01 Mar 2014 Without a bang or a whimper, all hopes of striking a so-called "Grand Bargain" to put America's public finances on a sustainable track died a quiet death this week. And because cynicism passes for wisdom in Washington, the passing was little lamented. But its death is a loss to the cause of putting America's house in order,...
  • Obama says he doesn't want to hear about spending cuts

    10/25/2013 5:37:34 PM PDT · by Sub-Driver · 56 replies
    Obama says he doesn't want to hear about spending cuts By Justin Sink - 10/25/13 04:41 PM ET President Obama told Republicans in Congress that he doesn't want to hear about additional cuts to government programs after the 16-day shutdown. The president said the country can afford to make investments in areas like education, and he noted that the shutdown cut into the economy. “Don't tell me we can afford to shut down the government, which costs our government billions of dollars, but we can't afford to invest in our kids,” Obama said at a school in Brooklyn. “This obsession...
  • Pelosi: Obama ‘one of the most practically non-partisan presidents’

    08/03/2013 4:55:34 PM PDT · by Sub-Driver · 54 replies
    Pelosi: Obama ‘one of the most practically non-partisan presidents’ Posted By Patrick Howley On 9:14 PM 08/02/2013 In Politics | No Comments Democratic House Minority Leader Nancy Pelosi said that President Obama is “one of the most practically non-partisan presidents” that she has ever seen in her career and that he “really is working” to forge a budget agreement. “Here’s the thing — the president is one of the most practically non-partisan presidents I have seen in the White House. I’ve been there since Ronald Reagan, and he really is working to try to get some bipartisan agreement. They’ve been...
  • Obama: Pass My Budget or Suffer More 'Pain'

    04/29/2013 11:44:12 AM PDT · by ColdOne · 14 replies
    cnsnews.com ^ | 4/27/13 | Craig Bannister
    And, there's more pain on the horizon, Obama warned: "These cuts are scheduled to keep falling across other parts of the government that provide vital services for the American people." Then, Obama declared that the only way to avoid more sequester pain is to pass his budget: "There is only one way to truly fix the sequester: by replacing it before it causes further damage. "A couple weeks ago, I put forward a budget that replaces the next several years of these dumb cuts with smarter cuts; reforms our tax code to close wasteful special interest loopholes; and invests in...
  • Obama: Pass My Budget or Suffer More ‘Pain’

    04/29/2013 11:31:41 AM PDT · by Olog-hai · 39 replies
    Cybercast News Service ^ | April 27, 2013 | Craig Bannister
    In his weekly address, Pres. Obama threatened Americans with more sequester “pain” if they don’t convince Congress to pass his budget. First, Obama exploited the sequester’s effect on children, the elderly, and airline travelers … And, there’s more pain on the horizon, Obama warned: “These cuts are scheduled to keep falling across other parts of the government that provide vital services for the American people.” …
  • Obama Budget Shows Middle-Class Tax Pledge Was Fraud

    04/25/2013 4:32:54 AM PDT · by IBD editorial writer · 11 replies
    Investor's Business Daily ^ | 4/23/2013 | IBD Staff
    Taxes: A new study shows President Obama's budget would significantly boost taxes on the middle class. Funny, we seem to recall him promising voters that only the rich would pay for his grandiose spending plans. According to the analysis from the nonpartisan but liberal-leaning Tax Policy Center, Obama's budget would hit wealthy families hardest, with the top 20% of income earners shouldering almost 90% of the tax hike. But families at every income level would end up paying more if Obama's budget were enacted, including those making less than $10,000 a year.
  • Analysis of Obama’s budget finds a higher tax burden for most Americans (Obama lies!)

    04/23/2013 3:13:40 PM PDT · by tobyhill · 8 replies
    washington post ^ | 4/23/2013 | Zachary A. Goldfarb
    President Obama’s budget would raise taxes mainly on people earning more than $200,000 a year, although earners at nearly every income level would face a somewhat higher tax burden, according to a new nonpartisan analysis. The study by the Tax Policy Center finds that in 2015, 86 percent of the increase in taxes would be borne by people earning $200,000 or more a year. That would largely be a result of dramatically scaling back tax breaks that disproportionately benefit the wealthy and establishing a minimum level of taxation for people who earn $1 million a year. But the study also...
  • Obama administration has SLASHED budget for domestic bombing prevention by 45 per cent...

    04/16/2013 6:01:05 PM PDT · by Typical_Whitey · 38 replies
    Daily Mail ^ | 4/16/13 | David Martosko
    Barack Obama's administration has cut the budget nearly in half for preventing domestic bombings, MailOnline can reveal. Under President George W. Bush, the Department of Homeland Security had $20 million allocated for preventing the use of improvised explosive devices (IEDs) by terrorists working inside the United States. The current White House has cut that funding down to $11 million. That assessment comes from Robert Liscouski, a former Homeland Security Assistant Secretary for Infrastructure Protection, in the wake of the Boston Marathon bombings on April 15 that killed three Americans and injured at least 173 others.
  • Obama administration has SLASHED budget for domestic bombing prevention by 45 per cent,

    04/16/2013 5:03:00 PM PDT · by Nachum · 6 replies
    Daily Mail ^ | 4/16/13 | David Martosko
    Barack Obama's administration has cut the budget nearly in half for preventing domestic bombings, MailOnline can reveal. Under President George W. Bush, the Department of Homeland Security had $20 million allocated for preventing the use of improvised explosive devices (IEDs) by terrorists working inside the United States. The current White House has cut that funding down to $11 million. That assessment comes from Robert Liscouski, a former Homeland Security Assistant Secretary for Infrastructure Protection, in the wake of the Boston Marathon bombings on April 15 that killed three Americans and injured at least 173 others. He told MailOnline that the...
  • Obama administration has SLASHED budget for domestic bombing prevention by 45% [USA MEDIA SILENT]

    04/16/2013 4:55:43 PM PDT · by SoFloFreeper · 15 replies
    uk DAILY MAIL ^ | 4/16/13 | DAVID MARTOSKO
    $20 million budget under Bush became $11 million under Obama Barack Obama's administration has cut the budget nearly in half for preventing domestic bombings, MailOnline can reveal. Under President George W. Bush, the Department of Homeland Security had $20 million allocated for preventing the use of improvised explosive devices (IEDs) by terrorists working inside the United States. The current White House has cut that funding down to $11 million. That assessment comes from Robert Liscouski, a former Homeland Security Assistant Secretary for Infrastructure Protection, in the wake of the Boston Marathon bombings on April 15 that killed three Americans and...
  • WaPo/ABC poll shows Obama under water on budget proposal (Most probably D.O.A in Congress)

    04/16/2013 12:38:54 PM PDT · by SeekAndFind · 10 replies
    Hotair ^ | 04/16/2013 | Ed Morrissey
    According to a new poll from the Washington Post and ABC News, the latest budget proposal from Barack Obama has about as much support as his previous two proposals. Only 52% of Democrats approve of his budget, which turns out to be twice as many as do independents: President ObamaÂ’s courtship of Republicans hit a critical point last week when he unveiled a budget proposal pitched as an effort at compromise. But a new Washington Post-ABC News poll finds AmericansÂ’ initial reactions to the framework tilting negative, with broad opposition from Republicans and little public support for a key idea...
  • Support Early Childhood Education: Smoke More Cigarettes

    04/13/2013 12:09:35 PM PDT · by Tolerance Sucks Rocks · 24 replies
    The American Thinker ^ | April 13, 2013 | Chad Stafko
    The Obama budget is finally out and there are, to no surprise, a potpourri of new tax hikes proposed, many of which are aimed at the "wealthy" among us. Deep within the bowels of the colossal budget, however, lies a proposed tax that targets the poor among us and it is perhaps a precursor of other health-related taxes to come. President Obama proposes raising the tax on cigarettes from $1.01 to $1.95 per pack--a whopping 93% increase in taxes. The White House estimates that the tax would raise $78.1 billion, of which around $66 billion would be used to fund...
  • Obama's new budget calls for $30 million more in abortion funding

    04/12/2013 8:59:26 AM PDT · by Morgana · 8 replies
    life site ^ | Elise Hilton
    Opinion Print Article | Email Friend | Reprint Permissions Obama's new budget calls for $30 million more in abortion funding by Elise Hilton Fri Apr 12, 2013 09:40 EST Comments () Tags: abortion funding, barack obama WASHINGTON, D.C., April 12, 2013 (Acton Institute) - Obama’s new budget is in. The usual political wrangling is taking place, but there are some undeniable facts about the budget. Taxes are going up (is anyone surprised?), but some of those taxes are “sneaky” ones on senior citizens designed to fund things other than their health. In all, the president’s budget will raise taxes by...
  • President Obama's Weirdest New Taxes [Tax on Flavored Vodka, Golf Courses Are No Longer Tax Havens]

    04/12/2013 6:24:16 AM PDT · by Sub-Driver · 12 replies
    President Obama's Weirdest New Taxes By CHRIS GOOD (@c_good) April 12, 2013 President Obama has plenty of big taxes in his budget proposal. To achieve $1.8 trillion in new revenue, the president suggested a few of the policies he's raised while battling Republicans over the past four years: taxing higher incomes by capping itemized tax deductions, rolling back domestic-production credits for oil companies, instituting the "Buffett Rule" of a 30 percent minimum tax rate for people making over $1 million in a year, and taxing investment managers' "carried interest" profits as regular income top the list. But the tax code...
  • Obama budget adds domestic same-sex partners to Obamacare

    04/12/2013 5:23:30 AM PDT · by tobyhill · 8 replies
    cnn ^ | 4/10/2013 | staff
    Buried deep inside President Obama's 2014 budget released on Wednesday is a new proposal to expand federal health insurance benefits to same-sex domestic partners. Framed as a measure to reduce the deficit, the proposal would amend the Federal Employee Health Benefits Program beginning in 2015 to add a "self plus one" enrollment option in addition to the "self" and "family" options. Like the Domestic Partnership Benefits and Obligations Act that the administration has endorsed in prior budgets, this new FEHB formulation would work within the current legal constraints of the Defense of Marriage Act by adding a new classification for...
  • Obama’s Budget Includes Funding for U.N. Agency That Recognized ‘Palestine’

    04/11/2013 5:45:37 PM PDT · by Nachum · 9 replies
    CNS News ^ | 4/11/13 | Patrick Goodenough
    (CNSNews.com) – The Obama administration on Wednesday renewed its request for Congress to let it restore funding to the first United Nations agency to grant full membership to “Palestine,” arguing that defunding runs contrary to U.S. interests. Complying with U.S. laws dating back more than a decade, the administration in late 2011 reluctantly cut funding to the U.N. Educational, Scientific, and Cultural Organization (UNESCO), depriving the Paris-based agency of 22 percent of its operating budget. UNESCO head Irina Bokova described the resulting financial crisis as the “worst ever” in the agency’s history, but rather than urge member-states to reconsider the...
  • Obama Budget Ignores $187 Billion Cost to Taxpayers of Fannie and Freddie, But Not Future Profits!

    04/11/2013 3:03:21 PM PDT · by whitedog57
    Confounded Interest ^ | 04/11/2013 | Anthony B. Sanders
    Jon Prior at Politico reports that according to budget projections released Wednesday, taxpayers could see “a $51 billion profit on the $187 billion in federal funds that have been pumped into” Fannie Mae and Freddie Mac “since they were taken over by the government in 2008.” The catch? Fannie and Freddie would have to remain under government control for another 10 years. Wait a minute. If taxpayers spent $187 to bailout Fannie and Freddie, a $51 billion profit over ten years still leaves taxpayers in the hole for $136 billion. Politico is making it sound like a tremendous return on...
  • Video: Boehner: Obama Deserves Some Credit for Budget

    04/11/2013 6:12:02 AM PDT · by bestintxas · 24 replies
    wash times ^ | 4/11/13
    House Speaker John Boehner says President Obama deserves some credit for "some incremental entitlement reforms" he has included in the budget, but urges the President not to hold those reforms hostage in return for more tax hikes.
  • Pelosi Joins Obama as Target of Liberals’ Anger Over Budget

    04/11/2013 6:52:54 AM PDT · by Cheerio · 4 replies
    The Daily Beast ^ | Apr 11, 2013 | Lloyd Grove
    President Obama is an old hand at absorbing attacks from his left flank. He got plenty of incoming hostility Wednesday during a conference call staged by a liberal advocacy group to highlight perceived flaws in his budget proposals. But it’s a novel—and not altogether pleasurable—experience for House Democratic Leader Nancy Pelosi to serve as target practice for the left.
  • The Obama Budget: Is It A Plan or a Train Wreck?

    04/11/2013 7:30:55 AM PDT · by SeekAndFind · 17 replies
    American Thinker ^ | 04/11/2013 | Jim Yardley
    The president has released his budget, with the usual threats to refuse to negotiate with Republicans in the co-equal branch of government called Congress. The proposal is monumental, with total spending in the budget totaling $3.778 trillion. Or, as the average accountant would write it: $3,778,000,000,000 !!! Looking at it another way, we currently have a national debt in the $16-trillion range. This sum has been accumulating since George Washington was first sworn in as president and on through the War of 1812, the Civil War, the Spanish-American War, World War I, World War II, the Korean Conflict, Vietnam, the...
  • Obama's Budget Requests Additional $30 Million for ‘Gun Violence Prevention’

    04/11/2013 6:56:14 AM PDT · by rktman · 12 replies
    CNSNews ^ | 4/11/2013 | Susan Jones
    Obama's Fiscal Year 2014 budget includes $30 million in new funding to "track gun violence" and to research strategies that might prevent it.
  • 5 Things to Know About the Obama Budget

    04/11/2013 6:18:57 AM PDT · by IbJensen · 4 replies
    Heritage Foundation ^ | 4/10/2013 | Amy Payne
    President Obama finally released his budget yesterday—more than two months late. Heritage experts immediately went to work analyzing the mounds of new spending on education, manufacturing, “clean energy,” infrastructure, and small business. But the President didn’t stop at more of the same failed stimulus and Solyndra-type policies. He also piled on the tax increases—including on seniors, the poor, and the middle class. Five key things to know about President Obama’s budget: 1. It hikes taxes by $1.1 trillion. Heritage’s Curtis Dubay says: “There was little doubt that President Obama would propose a huge tax hike in his budget. It is...
  • Tracking Obama's health law in budget isn't easy (Surprise, surprise, surprise)

    04/11/2013 4:03:08 AM PDT · by markomalley · 6 replies
    AP ^ | 4/11/13 | RICARDO ALONSO-ZALDIVAR
    Next year is the year President Barack Obama's signature health care law goes into high gear, covering millions of uninsured Americans by a mix of private plans and government programs infused with tens of billions of dollars in taxpayer money. You'd think there'd be a chapter in the new 2014 budget that lays it all out. Wrong. Well, maybe a table? Wrong again. A box? Nope. It turns out that the costs of the Affordable Care Act — Obamacare to its unyielding Republican foes— are sprinkled here and there through hundreds of pages of budget books. It's partly due to...
  • Rubio joins GOP colleagues for Obama dinner at White House

    04/10/2013 4:17:58 PM PDT · by JohnPDuncan · 38 replies
    The Hill ^ | Daniel Strauss
    Sen. Marco Rubio (R-Fla.) joined President Obama for his second closed-door dinner with Senate Republicans on Wednesday. Rubio had been invited but had not committed for most of the day of the dinner. The Florida Republican's office said immigration meetings might get in the way of him going to the dinner, but later said he would attend. Besides Rubio, Sens. Lamar Alexander (Tenn.), John Boozman (Ark.), Susan Collins (Maine), Mike Crapo (Idaho), Mike Enzi (Wyo.), Deb Fisher (Neb.), Orrin Hatch (Utah), Johnny Isackson (Ga.), Pat Roberts (Kan.), John Thune (S.D.) Roger Wicker (Miss.) dined with Obama. Obama's first meeting with...
  • Obama to hold Wednesday dinner with GOP senators at the White House

    04/10/2013 12:17:34 PM PDT · by Sir Napsalot · 53 replies
    Politico ^ | 4-9-2013 | REID J. EPSTEIN and GINGER GIBSON
    President Obama’s second big dinner with Senate Republicans will be at the White House Wednesday night, press secretary Jay Carney said Tuesday. Carney declined to say which senators will join Obama but Sen. Johnny Isakson (R-Ga.), who is organizing the guest list, said Sens. John Thune (R-S.D.) and Orrin Hatch (R-Utah) will join him at the dinner. Isakson’s office said he would release the full guest list Wednesday. The dinner follows Obama’s initial outreach to Senate Republicans last month. That dinner grew out of discussions Obama had with Sen. Lindsey Graham (R-S.C.). Carney said topics of discussion will include Obama’s...
  • Obama budget resurrects the estate tax

    04/10/2013 3:35:29 PM PDT · by markomalley · 13 replies
    The Washington Times ^ | Apr 10, 2013 | Dave Boyer
    President Obama seeks in his new budget to raise the estate tax, which was permanently lowered in the Jan. 1 “fiscal cliff” deal between the administration and congressional Republicans. Mr. Obama’s proposal would reinstitute the estate tax in 2018 at tax rates imposed in 2009, when about 3 in 1,000 people were subject to the tax. It would raise about $79 billion over 10 years. The plan would drop the per-person exemption to $3.5 million from $5.25 million this year, and raise the top tax rate to 45 percent from 40 percent.
  • Alan Grayson: Obama’s budget “could end up dragging down the entire party”

    04/10/2013 3:31:43 PM PDT · by markomalley · 22 replies
    Washington Examiner ^ | Apr 10, 2013 | Sean Higgins
    That’s what Rep. Alan Grayson, D-Fla., said in a press call today hosted by the Progressive Change Campaign Committee regarding the president’s new budget proposal.The call, which also featured Rep. Keith Ellison, D-Minn., was intended to be a warning to the administration to back away from the budget’s modest entitlement reforms. Grayson argued they could doom the party by undercutting its rhetoric on entitlements: Based upon the budget the Republicans submitted, the [Paul] Ryan budget, it was pretty clear up until this point that the Republicans were the party in favor of cutting Social Security, cutting Medicare, cutting Medicaid, and the...
  • Obama budget taxes rich, replaces sequester

    04/10/2013 9:05:12 AM PDT · by illiac · 11 replies
    MarketWatch ^ | 4/10/13 | Robert Schroeder
    WASHINGTON (MarketWatch) — President Barack Obama on Wednesday unveiled a budget that would cut entitlement programs, tax the wealthy and reduce the U.S. budget deficit by nearly $2 trillion while funneling new money to education and infrastructure in an effort to bolster the middle class. The 10-year blueprint contains an offer made to House Speaker John Boehner during the “fiscal cliff” talks late last year, and Obama calls the measure a compromise that demonstrates his goal of a tax and spending deal with Republicans. “The package I am offering includes some difficult cuts that I do not particularly like,” Obama...
  • Obama sends Congress $3.77T spending plan, riles both sides

    04/10/2013 9:12:31 AM PDT · by Kaslin · 18 replies
    Fox News.com ^ | April 10, 2013
    President Obama found himself weathering bipartisan broadsides Wednesday as he sent Congress his 2014 budget proposal, which in its effort to please both sides of the aisle has ended up angering both. The budget arrived on Capitol Hill Wednesday morning, delivered 65 days after the legal deadline. The $3.77 trillion spending plan, which is over 2,000 pages, tries to curb deficits by further raising taxes on top earners and reining in the growth of Social Security. Obama called his plan "a fiscally responsible blueprint for middle class jobs and growth," during remarks he made Wednesday morning in the White House...
  • K-12 Teachers BIG Winner in Obama Budget, Defense Big Loser

    04/10/2013 9:26:01 AM PDT · by whitedog57 · 6 replies
    Confounded Interest ^ | 04/10/2013 | Anthony B. Sanders
    President Obama announced his budget today which is likely DOA in The House of Representatives. $3.77 trillion spending for 2014, alleged $1.1 trillion in cuts (a massaging of the already passed sequester). Who are the winner? Teachers and administrators for Pre-school and K-12. The big loser? Defense. Here is a chart of spending by mandatory and discretionary. And deficit spending seems to be the strategy of Washington DC with no end in sight. $7.3 trillion in new debt, expansion of infrastructure spending, universal day care for pre-k, etc. Obama’s budget removes any rules governing spending cuts and replaces them with...
  • OMB: Obama Will Become First President to Spend $4T in One Year

    04/10/2013 8:56:37 AM PDT · by Sub-Driver · 21 replies
    OMB: Obama Will Become First President to Spend $4T in One Year April 10, 2013 In the historical tables it released along with President Barack Obama's fiscal 2014 budget proposal this morning, the White House Office of Management and Budget revealed that in fiscal 2016 it expects Obama to become the first president in the nation's history to preside over a federal government that spends more than $4 trillion in one year. The OMB's historical tables also reveal that the White House does not expect this administration to ever run an annual deficit as low as $458.5 billion, which was...
  • Obama Sends Congress $3.77 Trillion Spending Plan

    04/10/2013 4:36:18 AM PDT · by Sir Napsalot · 14 replies
    RCP ^ | April 10, 2013 | Martin Crutsinger
    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...
  • White House confirms: Obama Budget Contains Middle Class Income Tax Hike

    04/09/2013 8:26:37 PM PDT · by logi_cal869 · 25 replies
    Americans for Tax Reform ^ | 4/9/2014 | John Kartch
    White House spokesman Jay Carney “not disputing” Obama budget would “raise taxes on middle class Americans.” The White House has confirmed that President Obama’s forthcoming budget contains an income tax increase on middle class Americans. During a Friday, April 5 White House press briefing, spokesman Jay Carney replied “I’m not disputing that” when asked if a particular Obama budget proposal would raise income taxes on the middle class. The proposal in question is known as “Chained CPI.” The term is a Beltway euphemism for measuring inflation at a different, slower pace. Many tax and budget items are indexed to inflation,...
  • How much does the Obama budget matter? Look at the last one

    04/09/2013 10:54:10 AM PDT · by illiac
    MarketWatch ^ | 4/9/13 | Robert Schroeder
    (Adds comment from Treasury Secretary Jack Lew.) Ahead of Wednesday’s release of the Obama administration’s budget for fiscal 2014, a fair question can be raised: how much does it matter, given that Republicans hold the House in any event? Here’s a look at how much of the administration’s last budget matched up with what the U.S. actually is due to spend in the current, September-ending fiscal year. Before the budget cuts under the so-called sequester are tallied, both congressionally approved discretionary spending — as opposed to mandatory spending on entitlements — and the president’s original discretionary request match each other....
  • Obama: Unbalanced Budget 'Doesn't Spend Beyond Our Means'

    04/08/2013 2:10:06 PM PDT · by Sub-Driver · 26 replies
    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,...
  • With Budget Proposal Obama Tells Us What Is A ‘Reasonable’ Amount To Have In Retirement Accounts

    04/06/2013 12:51:50 PM PDT · by smoothsailing · 106 replies
    Lonely Conservative ^ | 4-6-2013 | Lonely Conservative
    With Budget Proposal Obama Tells Us What Is A ‘Reasonable’ Amount To Have In Retirement Accounts April 6, 2013 Lonely Conservative With his budget proposal, President Obama has told us what he believes is a “reasonable” amount to have in a retirement account. $3 million is the number he chose. According to a White House statement, the Obama administration believes the current rules allow some wealthy individuals “to accumulate many millions of dollars in these accounts, substantially more than is needed to fund reasonable levels of retirement saving.”“The budget would limit an individual’s total balance across tax-preferred accounts to an...
  • Obama: 'The Truth Is, Our Deficits Are Already Shrinking'

    04/07/2013 10:27:30 AM PDT · by Nachum · 38 replies
    Weekly Standard ^ | 4/6/13 | DANIEL HALPER
    In his weekly radio address, President Obama explained the budget he'll rollout next week, and said, "the truth is, our deficits are already shrinking." Barack Obama delivers inaugural address 1-20-09 090120-A-8725H-285 "My budget will reduce our deficits not with aimless, reckless spending cuts that hurt students and seniors and middle-class families – but through the balanced approach that the American people prefer, and the investments that a growing economy demands," said Obama. "Now, the truth is, our deficits are already shrinking. That’s a fact. I’ve already signed more than $2.5 trillion in deficit reduction into law, and my budget will...
  • Obama's Budget Includes $800 Billion Tax Hike, $7.3 Trillion in New Debt

    04/06/2013 8:12:40 PM PDT · by Ernest_at_the_Beach · 13 replies
    The Weekly Standard ^ | 3:21 PM, Apr 5, 2013 | DANIEL HALPER
    The Republican side of the Senate Budget Committee is breaking down President Obama's budget with this preliminary analysis:The budget will be released next week "The figures regarding the President’s plan are based on numbers reported in the media today, the table posted on the White House (WH) website, and information regarding Senator Murray’s budget resolution," says the minority side of Senate Budget Committee.
  • Obama to offer Social Security cuts in new budget — in exchange for tax hikes

    04/05/2013 9:22:29 AM PDT · by SeekAndFind · 79 replies
    Hotair ^ | 04/05/2013 | Ed Morrissey
    No wonder it's taking so long for Barack Obama to send his budget proposal to Congress. The budget is almost two months overdue, but Republicans may find it worth the wait. The Washington Post reports that Obama will offer cuts to Social Security in exchange for tax hikes to close the deficit --- in effect, the grand bargain he and John Boehner nearly made two years ago: President Obama will release a budget next week that proposes significant cuts to Medicare and Social Security and fewer tax hikes than in the past, a conciliatory approach that he hopes will convince...
  • White House: Oh yeah, about Obama’s budget — sequestration is exacerbating the holdup

    02/28/2013 7:04:07 PM PST · by chessplayer · 7 replies
    So the White House simply hasn’t had the time to finish up a major project that was due a month ago, yet somehow, they’ve managed to come up with and fudge overly-alarmist numbers for specific Cabinet officials and sent them all out on a sequestration scaremongering spree. Via Politico: President Obama’s budget will probably be released in March, White House press secretary Jay Carney said Thursday, but has been delayed in part by “manufactured crises” including sequestration. “The series of manufactured crises around budget issues, certainly has resulted at least in part in those experts in the administration who work...
  • Obama, Democrats not serious about passing budget

    04/29/2012 3:06:07 PM PDT · by Red Steel · 9 replies
    cnn ^ | updated 12:21 PM EDT, Sun April 29, 2012 | Ron Johnson
    Editor's note: U.S. Sen. Ron Johnson, R-Wisconsin, is a member of the Senate Budget Committee. (CNN) -- The U.S. government is the largest financial entity in the world. Nothing else comes close. On Sunday, April 29, it will be exactly three years since the U.S. Senate passed a budget. If you own or work for a small business that has a loan from a bank, I'm quite sure your business has a budget -- and a rather detailed budget at that. Every year around tax time, many American families sit down to fill out tax forms, estimate their income, and...
  • Defending Fiscal Insanity

    04/08/2012 3:37:34 PM PDT · by Bobbys1963 · 24 replies
    National Review ^ | April 5, 2012 | John Lott
    In President Obama’s address to the Associated Press Luncheon on Wednesday, he claimed that he is preventing disaster. Republican congressman Paul Ryan’s proposed budget cuts would still allow publicly held debt to increase by $5.5 trillion over the next ten years, but to Obama, they mean Americans will be dying from starvation and defenseless from hurricanes and other natural disasters. “Demagoguery” is not too strong of a word to describe Obama’s speech. Two million mothers and young children will be left without “access to healthy food.” Violent crime will soar and illegal aliens will flood across our borders because of...
  • The Real Obama

    02/21/2012 6:20:14 AM PST · by safetysign · 10 replies
    The Weekly Standard ^ | 02/27/2012 | Fred Barnes
    President Obama’s budget for 2013 is pure Obama. How do we know? Paul Ryan, the House Budget Committee chairman, was once asked how to become a budget expert. “You have to read the budget,” he said. To know Obama, it’s similar. You have to read the speeches and look over the budgets. For the past year, they’ve told the same story. No, the real Obama is not a pragmatist or a frustrated moderate or a well-intentioned but weak politician forced by political circumstances to take positions he’d rather not. Only sympathizers, notably media types, believe any of those notions. The...
  • Obama budget plan to tax the rich (unveils budget today, prompting election year spending showdown)

    02/13/2012 8:39:12 AM PST · by SeekAndFind · 14 replies
    BBC ^ | 02/13/2012
    US President Barack Obama will seek to raise taxes on the wealthy as he unveils his budget later, prompting an election year spending showdown with Republicans. The proposal includes $1.5 trillion (Ł950bn) in new taxes, much from allowing Bush-era tax cuts to expire. He will also call for a Buffett Plan tax hike on millionaires, and infrastructure projects. The budget must be agreed between the White House and Congress. Mr Obama will address students at a college in Virginia on Monday morning as he outlines his 2013 spending proposal to Congress. Dead on arrival? The BBC's Steve Kingstone says the...
  • Obama gambles on costly initiatives in new budget

    02/13/2012 5:14:11 AM PST · by Whenifhow · 13 replies
    .....At the same time, the president’s foreign aid request includes an entirely new $770 million account in 2013, described as the Middle East and North Africa Incentive Fund with the purpose of advancing democratic and economic reforms in the region after the turmoil of the past year. The two initiatives come on top of the budget’s plan for an almost 50 percent, six-year increase in transportation spending, $231 billion of which would be financed not by gas taxes but war savings attributed to Obama pulling U.S. troops out of Iraq and Afghanistan. Conservatives are sure to challenge this assumption and...