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Obama seeks to cut deficit by $1.1 trillion ($78B from defense over 5 years)
Reuters ^ | 02/13/2011 | Staff

Posted on 02/13/2011 8:30:09 AM PST by OldDeckHand

(Reuters) - President Barack Obama's proposed budget for fiscal 2012 will seek to cut the record federal deficit by $1.1 trillion over the next 10 years, White House budget director Jack Lew said Sunday.

Lew, speaking on CNN, said the president was also on track to halve the budget deficit by the end of his first term in office, which goes through 2012.

(Excerpt) Read more at reuters.com ...


TOPICS: Constitution/Conservatism; Front Page News; Government; News/Current Events
KEYWORDS: 2011; budget; fiscal; obama
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To: mewykwistmas
Or Obama wants to get re-elected

Of course...he doesn't want to be outdone by the GOP.

However, Zero wouldn't be proposing this if Pelosi was still in power.

21 posted on 02/13/2011 9:06:27 AM PST by Siena Dreaming
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To: Mouton
In this order:

1. Obamacare has to go

2. Remove the drug “benefit” from medicare

3. Freeze all entitlement spending at current levels for 5 years.

4. Get rid of subsidy for ethanol.

5. Close departments of Education, Energy and the EPA.

Shut down Fannie and Freddy

22 posted on 02/13/2011 9:08:42 AM PST by submarinerswife (Insanity is doing the same thing over and over, while expecting different results~Einstein)
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To: OldDeckHand
Cutting defense spending is a good move by Obama.

The world is an unprecedented period of peace and stability so there is no need to spend so much on defense.

Hell. Why don't we just disband our military altogether.

We'll all just fling flower petals all over the place as we sing Skip To My Lou and Row, Row, Row Your Boat. It'll be fun!

23 posted on 02/13/2011 9:09:45 AM PST by Texas Eagle (If it wasn't for double-standards, Liberals would have no standards at all -- Texas Eagle)
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To: Mouton

If he does that I would consider him a citizen. Until then, let his constituency keep wallowing in squalor.


24 posted on 02/13/2011 9:11:11 AM PST by eyedigress ((Old storm chaser from the west)?)
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To: OldDeckHand

Looking to liberal Democrats to cut anything is like looking to al Queda for better ways to get along with Jews....


25 posted on 02/13/2011 9:11:20 AM PST by Tzimisce (Never forget that the American Revolution began when the British tried to disarm the colonists.)
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To: submarinerswife

The FED is currently holding a ton of bad paper that began its life in those agencies and that is just part of all the paper out there as a good deal of it is still on the books of the banks and other financial holders. They will go as soon as this paper can be written off over the years but remain in tact to give cover to the Raines and Goreleks of the world who were political insiders who made a fortune and rode off into the sunset. CIA assassination squads should be looking for them IMO.


26 posted on 02/13/2011 9:14:55 AM PST by Mouton
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To: OldDeckHand

We said he would cut the military from the start. Here it comes.


27 posted on 02/13/2011 9:17:23 AM PST by PSYCHO-FREEP (Patriotic by Proxy! (Cause I'm a nutcase and it's someone Else's' fault!....))
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To: Mouton

I would replace your #2 with: repeal the business regulations they enacted called financial reform, and free the other newly government owned businesses to sink or swim on their own.


28 posted on 02/13/2011 9:19:14 AM PST by Ingtar (Together we go broke (from a Pookie18 post))
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To: OldDeckHand
Trying to ONE UP,,, the republicans..
GOOD!!! a worthy game to play..

Put RON PAUL in charge of it.. in the HOUSE and Rand Paul in charge in the Senate..
ONE UP.... the shape Shiffter in Chief..

29 posted on 02/13/2011 9:19:54 AM PST by hosepipe (This propaganda has been edited to include some fully orbed hyperbole....)
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To: mewykwistmas

You did not read that very well. It said; Cut 78 billion per year for 5 years......


30 posted on 02/13/2011 9:20:44 AM PST by PSYCHO-FREEP (Patriotic by Proxy! (Cause I'm a nutcase and it's someone Else's' fault!....))
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To: OldDeckHand

Geez what a wimp, he needs to cut that in one year, not 10. That’ll do little to nothing.


31 posted on 02/13/2011 9:21:22 AM PST by MsLady (If you died tonight, where would you go? Salvation, don't leave earth without it!)
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To: Siena Dreaming
Or Obama wants to get re-elected

Of course...he doesn't want to be outdone by the GOP.

However, Zero wouldn't be proposing this if Pelosi was still in power.


^^^^ THIS ^^^^

My first thought was that Zero and the Rats need to appear more fiscally conservative than the RINOS, who are proposing lesser cuts if I recall right (but could be wrong).

This is nothing more than CAMPAIGN MATERIAL!
32 posted on 02/13/2011 9:23:31 AM PST by Yooper4Life (They all lie.)
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To: OldDeckHand
Homeland security is what needs cutting.

Obama is alienating our allies, encourages Muslim Brotherhood through his statements. He is sending the world a message we are weak.

He has weakened us with debt, devalued the dollar, interferes in energy independence. Is using regulation that will increase prices on energy and food. He is what needs to be cut out.

33 posted on 02/13/2011 9:25:22 AM PST by opentalk
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To: Yooper4Life

Oh, AND it is about controlling the CURRENT news cycle. Double benefits for the Rats.


34 posted on 02/13/2011 9:26:31 AM PST by Yooper4Life (They all lie.)
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To: Ingtar

I would put this on the list too.

My question is, why do you wish to remove from my list the drug benefit from Medicare. Bush who decided to put it in, unfunded, after winning a second term. He never mentioned this during his election either which really bothered me. It will be a trillion dollar unfunded liability. We cannot afford these unfunded benefits no matter how moral or ethical they seem to be. If you (or Bush) had proposed raising taxes to fund this benefit, I bet there would be fewer takers, no pun.


35 posted on 02/13/2011 9:31:08 AM PST by Mouton
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To: PSYCHO-FREEP; mewykwistmas
"You did not read that very well. It said; Cut 78 billion per year for 5 years......"

I don't think that's right. While we won't know for sure until he actually publishes his budget, this is directly from the article....

A Democratic aide said the budget would reduce Pentagon spending by $78 billion over five years.

It seems like it's a total of $78B, over a 5-year period.

36 posted on 02/13/2011 9:31:22 AM PST by OldDeckHand
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To: OldDeckHand
LOL. Naturally.

Now that we own GM we don't need all that military stuff. How did I know Barry would want to cut the military rather than something like ethanol subsidies or encouraging the sale of gansta whitewall tires?

37 posted on 02/13/2011 9:40:35 AM PST by Rashputin (Barry is totally insane and being kept medicated and on golf courses to hide the fact)
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To: Mouton

I would move it down. As I though this was a top 5, it didn’t appear.


38 posted on 02/13/2011 9:44:21 AM PST by Ingtar (Together we go broke (from a Pookie18 post))
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To: OldDeckHand
Photobucket He's a freakin' idiot!.... Or just plan evil.... Strip our ability to defend ourselves. Take all benefits away from our poor veterans. Give it to the blood sucking leaches of socialist society. The king has spoken.
39 posted on 02/13/2011 9:46:27 AM PST by baddog 219
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To: OldDeckHand
""He's going to present a budget tomorrow that will continue to destroy jobs by spending too much, borrowing too much and taxing too much," House of Representatives Speaker John Boehner said on NBC's "Meet the Press.""

Boner doesn't get it.

The House Originates ALL TAX and SPENDING bills. The House is legally enabled and required to present their own budget plan.

Deference to POTUS is dereliction of duty.

40 posted on 02/13/2011 10:10:43 AM PST by Mariner (USS Tarawa, VQ3, USS Benjamin Stoddert, NAVCAMS WestPac, 7th Fleet, Navcommsta Puget Sound)
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