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Obama sends Congress $3.73 trillion budget
Yahoo ^ | 2/14/11 | Martin Crutsinger - ap

Posted on 02/14/2011 10:06:24 AM PST by NormsRevenge

WASHINGTON – President Barack Obama sent Congress a $3.73 trillion budget Monday that holds out the prospect of eventually bringing deficits under control through spending cuts and tax increases. But the fiscal blueprint largely ignores his own deficit commission's view that the nation is imperiled unless huge entitlement programs like Social Security and Medicare are slashed.

Obama called his new budget one of "tough choices and sacrifices," but most of those cuts would be held off until after the end of his first term.

Overall, Obama proposed trimming the deficits by $1.1 trillion over a decade. The administration is projecting that the deficit will hit an all-time high of $1.65 trillion this year and then drop sharply to $1.1 trillion in 2012, with an expected improvement in the economy and as reductions in Social Security withholding and business taxes expire.

(Excerpt) Read more at news.yahoo.com ...


TOPICS: Breaking News; Business/Economy; Government; Politics/Elections
KEYWORDS: 112th; congress; debt; democrats; economy; federalbudget; liberalfascism; obama; obamanomics; spending
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To: givemELL

Imagine a 4 foot by 4 foot pallet covered with $100 bills 4 feet high.

Now imagine a football field covered with pallets of $100 bills.

Now stack them 4 high.

That is the budget Obastard has proposed.


41 posted on 02/14/2011 10:57:43 AM PST by Blood of Tyrants (Islam is the religion of Satan and Mohammed was his minion.)
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To: NormsRevenge
OBAMA BUDGET
42 posted on 02/14/2011 11:05:13 AM PST by FrankR (The Evil Are Powerless If The Good Are Unafraid! - R. Reagan)
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To: NormsRevenge
John Galt is Coming!



Who is John Galt click here.


It is coming on April 15, 2011. Click here for the trailer.



Run Sarah Run!

.


43 posted on 02/14/2011 11:06:07 AM PST by B-Cause (Great crises do not make men, they reveal them.)
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To: Blood of Tyrants
Practically every politician in DC is afraid of touching SS, Mediscare, and Medicaid even though those three programs are probably over half the budget

Nope. They add up to just over 40% (40.61%).

FY2010:

44 posted on 02/14/2011 11:32:56 AM PST by newzjunkey
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To: NormsRevenge; All

And right there is money (and trees) completely p*ssed away. That bundle of four volumes costs $214 from the GPO.

Even the CD-ROM version from CPO costs $27!

In 2011, we have these things called iPads...

45 posted on 02/14/2011 11:45:35 AM PST by newzjunkey
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To: NormsRevenge
Geithner Quietly Tells Obama Debt Expense to Increase to Record

Ruh roh...

46 posted on 02/14/2011 11:46:50 AM PST by mewzilla (Hey, Schumer, your Lockerbie report left quite a bit out.)
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To: NormsRevenge

The total income tax revenue is $1.45 trillion. He wants to spend $3.73 trillion. Obama LIED when he said he was the most fiscally responsible President and that we must live within our means. His budget is not less than $2.28 trillion in the red.


47 posted on 02/14/2011 11:49:26 AM PST by CodeToad (Islam needs to be banned in the US and treated as a criminal enterprise.)
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To: NormsRevenge

Translation: Obama’s “budget” would almost double the national debt in ten years, from the current $14 trillion to about $27 trillion (about $250,000 PER TAXPAYER). The $3.7 trillion spending “budget” for fiscal 2012 includes deficit spending of $1.6 trillion. (We all know it would be more.) The claim that Obama’s numbers include a 10 year debt reduction plan of $1.1 trillion is fiction. His entire budget is fiction.

It’s very clear that Obama has learned zero from the historic losses the Demo-Socialists incurred in November 2010. The guy is ignorant, arrogant, pig-headed, and treacherous.


48 posted on 02/14/2011 12:00:42 PM PST by pleikumud
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To: NormsRevenge; All

Uncovered: The 15 Tax Hikes Hidden in Obama’s New Budget

http://www.theblaze.com/stories/uncovered-the-15-tax-hikes-hidden-in-obamas-new-budget/


49 posted on 02/14/2011 12:20:24 PM PST by Hotlanta Mike (TeaNami)
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To: NormsRevenge
Okay. Let me get this straight: Bambi is claiming he wants to reduce the federal budget by just over one TRILLION dollars over TEN years, and yet, will submit a 3 TRILLION budget for this fiscal year alone? Really?

I now know that I'm in a parallel universe. "I see dead people".

50 posted on 02/14/2011 12:32:59 PM PST by A Navy Vet (An Oath Is Forever)
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To: pallis
"Republicans could take another trillion out by removing the growth of federal government that has happened under Barry."

Yes, it's really that simple. As some are saying in the House, just "reduce spending to pre-2008 levels". Although that wouldn't be enough for me, it would be a great start. But no, they quibble over 100's of billions (not TRILLIONS) that don't even touch the national debt.

Think cash.

51 posted on 02/14/2011 12:38:43 PM PST by A Navy Vet (An Oath Is Forever)
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To: NormsRevenge

he will spend every dollar that the government takes in .. not accounting for over runs. Calls it a balanced budget because there is no plan to borrow money.

But of course it will come when the states can not meet their mandates and go to the fed for aid.

where will they get the money??

CHINA!


52 posted on 02/14/2011 12:49:43 PM PST by Munz (All tyranny needs to gain a foothold is for people of good conscience to remain silent.)
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To: newzjunkey

That is the 2010 budget. The 2012 budget for Medicare, Medicaid, and SS is $1.918 Trillion. Well over half the budget.

http://www.nytimes.com/packages/html/newsgraphics/2011/0119-budget/


53 posted on 02/14/2011 1:06:20 PM PST by Blood of Tyrants (Islam is the religion of Satan and Mohammed was his minion.)
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To: NormsRevenge

When are we going to have our own Tahrir Square moment?

Fed up enough yet??????


54 posted on 02/14/2011 1:11:42 PM PST by SueRae (I can see November 2012 from my HOUSE!!!!!!!!)
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To: Senator_Blutarski

I recall democrats crucifying Republicans for running a “staggering” $400 billion deficit just a few years ago. Oh how I yearn for a measly $400 billion deficit....


55 posted on 02/14/2011 1:13:47 PM PST by henkster (Before we make any more "investments" we ought to be shown the prospectus.)
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To: zeohti

lol


56 posted on 02/14/2011 1:16:48 PM PST by americanophile ("The Constitution is the guide which I will never abandon." - George Washington)
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To: Senator_Blutarski
The deficit is 44% of the budget. So we are borrowing 44 cents for every dollar spent.

If I tried to do that, the bank would quickly cut off my credit. It's time for the People to say "Enough!" to these lunatics in Washington. The survival of our nation is at stake.
57 posted on 02/14/2011 1:23:06 PM PST by Deo volente (God willing, America will survive this Obamination.)
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To: Munz

“where will they get the money??

CHINA!”

Nope, not even China has the cash to buy up this much debt. Our previous model was selling our debt to Japan, Saudi Arabia and China; we’ll call it “the British Model” since this was how Britain financed WW1; selling war bonds on the New York market. But this model has been made a dead letter by the skyrocketing increase in the deficits. Our annual debt issuance now exceeds the capacity of the entire world’s financial markets to absorb that debt.

So where will we get the money? Meet the new model; we’ll call it “the German Model” because this is how Germany financed it’s WW1 debt. Today it has a new name: “Quantitative Easing.” The Germans simply called it “printing money.” Hello Weimar-style turbo-inflation.


58 posted on 02/14/2011 1:26:35 PM PST by henkster (Before we make any more "investments" we ought to be shown the prospectus.)
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To: zeohti
..by switching to GEICO.

GEICO stands for "Government Employees Insurance Company" (Seriously).

59 posted on 02/14/2011 1:31:47 PM PST by P-Marlowe (LPFOKETT GAHCOEEP-w/o*)
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To: NormsRevenge
The True intelligentsia are becoming apoplectic over our national bankruptcy while the masses oooh and Ahhh over Lady Ga Ga arriving in an egg. We are soooooooooooo doomed...
60 posted on 02/14/2011 2:49:40 PM PST by April Lexington (Study the Constitution so you know what they are taking away!)
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