Posted on 01/31/2010 9:35:03 PM PST by americanophile
WASHINGTON — The additional tax cuts and public works spending that President Obama has proposed to spur job creation would add $100 billion to this year’s deficit, bringing it to nearly $1.6 trillion, according to an administration official.
A deficit of that size for the fiscal year that ends Sept. 30 would be about $150 billion greater than last year’s deficit, which was the highest since World War II.
Measured against the size of the economy, a $1.6 trillion shortfall would equal almost 11 percent of the gross domestic product. Economists generally consider annual deficits above 3 percent to be unsustainable.
Last week, the nonpartisan Congressional Budget Office projected that this year’s deficit would be more than $1.3 trillion without further spending or tax cuts. Mr. Obama’s proposed $100 billion stimulus package, which includes tax credits for small businesses that make new hires and money for infrastructure projects, is less than a $154 billion package that the House approved in December but more than a measure the Senate is drafting.
(Excerpt) Read more at nytimes.com ...
...those liberals that were howling about Bush’s deficits sure showed us.
The list, ping
I am thinking that it would be equivalent to Obama taking out a credit card in each of our names, forcing us to pay it all back without letting us have the benefit of enjoying all the items we went into hock for.
Wouldn't that be called IDENTITY THEFT??
With this crew - it’s a ROUNDING ERROR!
The new Demonrat mantra! Woof, woof, let granny eat dog food...spoof on 'let them eat cake'.The articles also contain the new big fees to Tricare for Life the retired over 65 Military's secondary health ins)
obama's war on seniors See the links in post 43-46 and on the last page.
Expanding support for families balancing work with caring for elderly relatives with a $102.5 million Caregiver Initiative adding $52.5 million in funding to Department of Health and Human Services caregiver support programs that provide temporary respite care, counseling, training, and referrals to critical services. The administration says the extra funding will allow nearly 200,000 additional caregivers to be served and 3 million more hours of respite care to be provided. It also adds $50 million to programs that provide transportation help, adult day care, and in-home services, such as aides to help seniors bathe and cook, help which eases the burden for family members and helps seniors stay in their homes.
Even the commie rag Mother Jones is reporting the cut and gut to granny's SS/Medicare.
http://motherjones.com/mojo/2010/01/obama-puts-social-security-chopping-block
Bambi in his own words I' won't cut Medicare
http://www.youtube.com/watch?v=K0EAP47SdcY
“What is the amount that every man woman and child will owe when we have to pay back all of this money?”
We’re at about $40K EACH as of today. Actual TAXPAYERS get to pay $113K. This should take your breath away:
I do find it amazing that when you don't pay up to the last farthing the feds will immediately hound the crap out of ya until you do pay up. And yet, if you try to get a passport, they take their gay old time.
WHO THE HELL DO THEY THINK THEY ARE??
They're the Federal Government, that's who. They don't care. They don't have to. They have no competition.
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