Posted on 02/21/2009 12:05:38 PM PST by Baladas
President Obama is putting the finishing touches on an ambitious first budget that seeks to cut the federal deficit in half over the next four years, primarily by raising taxes on business and the wealthy and by slashing spending on the wars in Iraq and Afghanistan, administration officials said.
In addition to tackling a deficit swollen by the $787 billion stimulus package and other efforts to ease the nation's economic crisis, the budget blueprint will press aggressively for progress on the domestic agenda Obama outlined during the presidential campaign. This would include key changes to environmental policies and a major expansion of health coverage that Obama hopes to enact later this year.
A summary of Obama's budget request for the fiscal year that begins in October will be delivered to Congress on Thursday, with the complete, multi-hundred-page document to follow in April. But Obama plans to unveil his goals for scaling back record deficits and rebuilding the nation's costly and inefficient health care system Monday, when he addresses more than 100 lawmakers and budget experts at a White House summit on restoring "fiscal responsibility" to Washington
(Excerpt) Read more at washingtonpost.com ...
You`re a joke.
Clinton wasn`t special and you`re a fool if you think he ran surpluses, he did not.The national debt is made up of public debt and intergovernmental holdings.
As can clearly be seen below from the US Treasury web site, in no year did the national debt go down, nor did Clinton leave President Bush with a budget surplus that Bush subsequently turned into a deficit.
FY1994 09/30/1994 Debt$4.692749 trillion Deficit$281.26 billion
FY1995 09/29/1995 Debt $4.973982 trillion Deficit$281.23 billion
FY1996 09/30/1996 Debt $5.224810 trillion Deficit$250.83 billion
FY1997 09/30/1997 Debt$5.413146 trillion Deficit$188.34 billion
FY1998 09/30/1998 Debt$5.526193 trillion Deficit$113.05 billion
FY1999 09/30/1999 Debt$5.656270 trillion Deficit$130.08 billion
FY2000 09/29/2000 Debt$5.674178 trillion Deficit$17.91 billion
FY2001 09/28/2001 Debt$5.807463 trillion Deficit$133.29 billion
Get lost a**hat. You are a troll, pure and simple with only BS to spout on your post.
Worst. President. Ever.
Worst. President. Ever. X 25 trillion ....
If you think I am a troll, sorry to disappoint you, but I am a staunch conservative. If you are talking about the other idiot, then fine, I agree with you.
If you think I am a troll, sorry to disappoint you, but I am a staunch conservative. If you are talking about the other idiot, then fine, I agree with you.
_______________
No not you! I was agreeing with you regarding the troll that was outed.
I thought as much but thought I would make sure. The best way to prevent misunderstandings is to put both FR ids when you make the comment. Thanks for your input.
Right, its time to raise taxes and slash the military budget.
The time tested, liberal Democrat agenda.
Nothing new about that.
I sent the following to my senators and congresswoman.
It is time for congress to wake up.
BO is the most dangerous man in the world to US interests, even more dangerous than Osama Bin Ladin because he is here in our midst with the powers of the government at his command.
And the congress has neither the guts nor the wisdom to hold him at bay.
I have just read the first few lines of a story outlining his latest statements concerning his proposed budget.
He plans to reduce the deficit by 2/3 in four years. He plans to do this by taxing “the rich”, whoever that is, corporations and businesses in general.
He is going to reduce the budget, yet he just forced on the congress the stimulus bill that is the biggest budget buster in the history of our country.
A tax rate high enough to reduce the budget by 2/3 in four years will be so onerous that business will come to a halt. New plants and new jobs will be non existant.
It is time for congress to wake up. Congress controls the money. He can budget all he wants, but you are the ones who decide whether it happens or not.
Wake up. Our country is in the most perilous times in its history. More perilous than any war we have ever experienced.
Please stop this man. Do not allow him to wreck our free enterprise system.
If we do not wish to lose our freedom, we must learn to tolerate our
neighbor’s right to freedom even though he might express that freedom
in a manner we consider to be eccentric.
ambitious = expensive
In 1990, when Congress imposed a luxury tax on yachts, private airplanes and expensive automobiles, Sen. Ted Kennedy and then-Senate Majority Leader George Mitchell crowed publicly about how the rich would finally be paying their fair share of taxes. But yacht retailers reported a 77 percent drop in sales, and boat builders laid off an estimated 25,000 workers.
What happened? Kennedy and Mitchell simply assumed that the rich would behave the same way after the imposition of the luxury tax as they did before and the only difference would be more money in the government’s coffers. They had a zero-elasticity vision of the world, namely that people do not respond to price changes. People always respond, and the only debatable issue is how much and over what period.
Walter Williams
Yes, it was truly stupid of the rest of the world to trust the integrity of the United States. I’m sure few will make that mistake in the future. Regarding Wall Street fat cats, I was assured by FReepers at another post that most of the Wall Street hot shots were Democrats. As to blind deregulation. If it wasn’t blind, how come neither the outgoing Bush administration, nor the incoming administration can find where and exactly with whom it all went wrong. Cases in point, Maddox and now Sanford.
Even cut in half it is still nearly $400 BILLION larger than any Bush deficit. We’re supposed to celebrate deficits THREE TIMES as big as Bush’s? That’s the zero’s idea of “fiscal responsibility”?
I'm amazed the WAPO admits right up front that the companies that are supposed to hire to help save the economy (and be rewarded for each new employee hired) are going to be taxed higher. Oxymoronic thought process on big time display.
not even close
carter was merely crazy and incompetent
this guy is gong to rival stalin.
Congress has the power of the budget. During Reagan's presidency, the rats controlled Congress. Reagan advocated large increases in defense spending to bring an end to the cold war. The rats in Congress wanted large increases in domestic spending. During Bush II, the Republican Congress spent too much domestically but in every case, the rats wanted to spend much more. The war in terror contributed to sharply higher defense spending.
I am not sure what deregulation you refer. Derivates have been used for many years. Clinton did not want to regulate them. Neither did Republican and Democratic Congresses.
The spending orgy in the just the first month is unprecedented. The rats will carpet bomb the economy with spending bombs, tax bombs, environmental bombs, litigation bombs, regulatory bombs, energy bombs, and labor bombs.
Nice to know I am not the only one keeping a list! :)
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