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 ...
That's not how the annual budget process works. By law, the President is required to present to Congress his annual Budget. The Congress, first with the House, can then adopt, amend or fully reject that budget.
But, the Executive is still legally obligated to submit his request. There's nothing untoward with either Obama's submission, or Boehner's comments on that submission. No one is being derelict in this instance.
The same thing that would cut cost for business would cut the cost of defense.
By that I mean the regulatory burden that business has to live under also has to be complied with by military installations. Regulations from the EPA and OSHA are the two biggest cost burdens. Armies of people are hired and tens of thousands of man-hours in training for the workers are paid out to ensure compliance with these mostly useless regulations.
The installation I work at was recently fined $20k each for a loose cap on a 5 gallon hazardous waste container stored in a multi-million dollar hazardous waste treatment facility and dried drips found in a drip pan under a plating tank. It's funny, I always thought a drip pan was for catching drips. In neither case was there any possibility of a release to the environment.
I wouldn't want Ron Paul being in charge of anything. He is nuts and his ideas regarding Isreal and national security are very dangerous. I have a feeling that his son is just as bad.
Really??? How many?? Whats your point? Our country is at the brink of economic collapse.
Ron and Rand about as credible as Ru.
$1.1 Trillion over 10 years, is like farting in the wind.
He promises 10 more years of unsustainable deficits.
Of course, any promise set 10 years in the future should be considered a fairy tale.
Very funny!
No kidding!!! Did you see that video that college kid made? It’s a visual of the deficit and what Obama wants to cut. It was awesome, really puts things into something you can clearly see.
If you think the Paul's are loony.. you yourself are suspect..
...I enjoy every minute of it.
Many of the junior officers are now being taught that they are in a “no-cost” culture and that the days of a blank check are going away when it comes to resources.
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