Obama: GOP budget plan 'wrong for America'

The Hill ^

[Sub-Driver]

Obama: GOP budget plan 'wrong for America' By Sam Youngman - 04/16/11 06:00 AM ET

President Obama continued his all-out assault on Rep. Paul Ryan and House Republicans Saturday, blasting their 2012 budget proposal as "wrong for America."

In his weekly radio address, Obama continued the line of fiery rhetoric that he kicked off with an explosive speech on debt reduction at George Washington University on Wednesday.

Obama blasted Ryan's plan, which passed the House Friday with no Democratic votes in favor.

"It’s a vision that says that in order to reduce the deficit, we have to end Medicare as we know it, and make cuts to Medicaid that would leave millions of seniors, poor children and Americans with disabilities without the care they need," Obama said.

The president has also gone all in with his goal of eliminating the Bush-era tax rates for the wealthy, saying flatly in his address "we should end the tax cuts for the wealthiest Americans, too."

"Because people like me don't need another tax cut," Obama said.

The president is scheduled to take his new message, welcomed by Democrats and infuriating to Republicans, across the country next week, making stops in Virginia, California and Nevada.

The president called reducing the debt "critical," but he blasted Republicans for taking what he said is an unbalanced approach that proposes "drastic cuts" while giving $1 trillion in tax breaks to the wealthiest Americans.

"I don’t think that’s right," Obama said. "I don’t think it’s right to ask seniors to pay thousands more for health care, or ask students to postpone college, just so we don’t have to ask those who have prospered so much in this land of opportunity to give back a little more."

[FlingWingFlyer]

Yeah. A communist, nanny state “America” is going to cost a lot of somebody else’s money and the GOP budget plan just won’t cut it.

[trebb]

The president is scheduled to take his new message, welcomed by Democrats leeches and infuriating to Republicans those the leeches are sucking dry...

[dalight]

The Republican Budget doesn't go anywhere near far enough. Congress has to cut spending immediately, massively, and yet using judgement.

If the Debt Ceiling is increased, the Fed will just do QE3 because they don't have any choice. They don't have a choice because no one is going to lend them $100 Billion per month because QE2 already poisoned the well. The results of QE2 will create Hyper-Inflation this year and it cannot be stopped. See the Chart below.

This is the Commodities Future Index and the first of the 6 month futures from September 2010 are just coming due, so April will start showing this in the month to month inflation numbers, of which we just had a taste in the shocking March numbers.

CRB Index for the last 6 months.. (Future Freepers Sorry, this is a snapshot URL) this post won't make sense a month after the current date.)

This exactly matches the chart presented by Russ Winter at Minyanville.

The last 40 years have nothing to do with the current situation because folks had the good sense to go Ape Sh%$t when Nixon gave up the Gold Standard. What they are doing now.. the BASELESS STANDARD, the NOT EVEN GREEN ANYMORE.. standard.. heck.. it isn't even paper. Just electrons representing lies that our children have to make real by living in bondage.

If the Debt Ceiling is increased, the Fed will do QE3 to keep Treasury auctions from failing. Something immediate and substantial needs to be done, and Congress just punted.

Some say, "If interest rates on Treasuries skyrocket then everyone, including China and Saudi will jump back into dollars with wild abandon." But, more likely, there will be no takers for $100 Billion per month.. but the interest rates may rise anyway.. rather... it is much more likely that QE3 occurs for the same reasons as QE2 but the situation is more desperate.

The problem with that.. is that the US is deep into short term borrowing which means that the Deficit will balloon insanely the minute interest rates begin to rise..

You get into a trap, there is no interest rate high enough that overcomes the real likelihood of loss of the original principle. Equity works because it based on the analysis of the risk vs reward of appreciation or loss of the capital investment. Bond work on the assurance that the capital invested is safe, over a certain level of risk, they are considered junk because they are inherently not safe.

What foreign companies will do is use the fake dollars we have given them to purchase real US assets leaving us in an inflationary spiral and vassals in our own land. They will at some point soon, months, insist that all of our borrowing be done in their currency rather than ours and this is when our goose is cooked.

This is a story as old as Joseph, the Pharaoh and the 7 years of famine. It ended with all of Egypt in Slavery including the Israelites whom only God could save.

What is sick is that Beck warned of this 6 months ago and we just couldn't see it back then.. but now it is obvious.. and yet we are not doing anything to stop it.

There comes a point in every PONZIE scheme where the new members cannot sustain the deal and it all comes tumbling down. Social Security is the Ponzie scheme and we all know it. It has failed we are selling our very lives and putting our children into the fire of slavery and death and oppression. This has to end worse than Greece and Obama and crowd know it and are cheering with the torches in their hands. This is the Clovin-Pevin crisis they have been working for, but we don't have to go there willingly.

In case you have any doubt in your heart..

Chart h/t Doug Ross

Goodbye, AmeriCorps. Hello, FoodStampCorps.
By Michelle Malkin • April 15, 2011 10:14 AM

So much for the new era of fiscal responsibility. The federal government’s dependency drones have been spared the chopping block. After vowing to eliminate funding for President Obama’s bloated $6 billion AmeriCorps social justice army, House Republicans retreated — and will shrink the AmeriCorps budget by a minuscule 6.7 percent.

Yes, across the Internet, the feds are recruiting AmeriCorps VISTA (“Volunteers in Service to America”) workers to apply for jobs as publicists for the welfare state. Their mission: to sign up as many people to federal food stamp rolls as possible. Because, you know, the record-breaking 12 million that have been added since Obama took office is apparently not good enough.

These people are serious and using Cloward-Piven like a Bible and they are on a mission.

First and foremost, people have been lied to and they are not ready for dealing with the reality of this. Beck and Palin see Trump's big mouth as a distraction but people are sick of lies. I am.

It starts here first. We quit lying to ourselves. I saw the charts that I posted here this weekend and they made me sick. The guy at www.endofamerica93.com has seen this for a while.. and unfortunately decided to make this a sales pitch with a 20 minute clouded presentation at the beginning.

The crisis doesn't come from "Bankruptcy" as Hannity keeps saying.. but the loss of "Reserve Currency Status" and the meetings are going on around the world to get this accomplished. I am sure they would like to do this without destroying the value of the dollars they already have.. but QE3 will destroy this value anyway.. so after June 2011, a crisis is assured soon no matter what if the DEBT CEILING IS INCREASED without substantial immediate and draconian cutting and a mechanism to absolutely end the deficit borrowing in 24 months.

Go outside, look around, do we love this country? If we do, we have only about 2 months to do something.

[DeaconRed]

It must be a good one if ZERO is against IT! ! ! ! ! !

[BobP]

Obama says GOP budget plan 'wrong for America'

Also Obama say Republicans will make the U.S. a 'Third World' nation.

No... but if Obama is not stopped we will be a third-world country.

In his latest crap speech Obama identified anyone opposed to his plans as an enemy of America. Class warfare is now the prevailing White House paradigm. Class warfare for everyone.

Obama's tax proposal is all about raising revenue. Economic growth isn't even an afterthought to this clown. His plan will be long on redistributive taxation and short on incentives to create private sector jobs.

Just another 'sputnik moment' by our one-trick circus clown president.

Time to step up Republicans and hammer this jackwagon president and his administration.

The Pharaoh of Lies

Ready, Fire, Aim, Barry: ''We have no reports today that my plan is the most irresponsible spending plan in our lifetimes or that it will worsening our fiscal nightmare. We also have no reports of several counties in America with home vacancy rates above 55%. And no reports of Sleepy Bite Me Biden performing financial castration on companies extracting profits from their business activities.

Don't listen when the right-wing attacks me for not having a budget to sign since 2009 when we had control of both houses. It's the Republicans who need to grow up and clean up this mess by working under Democrat/Marxist guidelines. Let me tell you, Republicans will make the US a 'Third World' nation.

My plan to balance the budget is this: More smoke, more mirrors, more QE, more posturing and more taxes on all productive people.

Even if the GOP votes no to raising the debt ceiling I'll just ignore it. Just like I created a deficit committee to figure out how to reduce the deficit. The committee recommends 4 trillion dollars in cuts over 10 years. But you know what... no thanks; I'll come up with my own plan. I don't have time for budget games, I have czars to appoint, executive orders to sign, tee times to keep, and more important things like vacations, basketball, and fund raising dinners to attend. I'm the Campaigner In Chief for the next 19 months.

Now please go back to your business as usual, and just relax. If Sleepy Uncle Biden or I see even a flicker of a problem, we'll say something.''

------------------------------

Hope and Change.... Tragic.

Ladies and gentlemen, Obama is America's first communist president.

[hal ogen]

nobama is “wrong for America”.

nobama hates you, hates your family, hates Free America, hates Americans, hates the Constitution and hates the Bill of Rights. nobama is a hate crime foisted upon America. nobama is the Destroyer.

Everything nobama (and his minions) do is intentional.

[chemicalman]

Obama's right. It is bad for America.

It should be cut even further.

[traditional1]

"in order to reduce the deficit, we have to end Medicare as we know it, and make cuts to Medicaid that would leave millions of seniors, poor children and Americans with disabilities without the care they need"

What a lyin' POS.

We need to remove ALL illegals from EVERY program, stop allowing the dropping of Anchor Babies in our homeland, stop handing out dollars and freebies to those who are 4th generation slugs, etc., etc.

EVERY program the Gubmint takes over to buy votes is funded by the way over-burdened Taxpayers.....Disability payments to people with hangnails/bi-polar claims, etc. are bleeding SSDI and the Social Security cashflow, too.

[mortal19440]

“Because people like me don’t need another tax cut,” Obama said.
Me, Me, Me. This asshat, just like Clinton never had a Pot to piss in and now that he is wealthy, just like Clinton they can never stop reminding us that they are rich and don’t need tax breaks. If he is so Fu**ing rich why are we paying for AF 1 to take him on his Campaign trips?

[petercooper]

bttt

[scooby321]

http://www.investors.com/NewsAndAnalysis/Article/569356/201104151846/The-Democrats-Medicare-Hypocrisy.htm

Starting 11 years from now, it would create insurance exchanges through which private plans, approved by the government, would be available to seniors. The federal government would provide a subsidy for retirees to offset the cost of coverage — and adjust it based on income — then let them shop around for the best deal. If this sounds familiar, it's because that's basically what ObamaCare would do for the entire country — create exchanges, let people pick their government-approved plan, and subsidize the cost for those who need it. Now, it added, "they need to tie themselves in logical knots explaining why it is a great system for Americans under 65, yet a horrible one for those over 65." Democrats don't read bills they just read talking points.

[Feckless]

Obama: GOP budget plan 'wrong for America'

OK, now we've gotten a Marxist outsider's point of view.....

[StonyBurk]

Independent Citizen Patriot Obama is/has been/and will always be wrong for America.The dumba-— in Congress keep him in a place of trust he does not warrant rending them as irrelevant and un-American as he.

[worriedinoregon]

Poor poor Obama—not only is he the worst prez in our history, but now his speeches are filled with faintly slurred words, eyeball lollings, and droopy lids-—I really fear he is hitting the bottle or the pipe just a little too hard.

[Allegra]

If Obie says it’s “wrong for America,” then it’s got to be good for our nation.

[BenLurkin]

[GailA]

PLEASE PRESIDENT OBAMA MAY I HAVE SOME MORE, I'M TERRIBLY HUNGRY

[SunkenCiv]

Thanks Sub-Driver.

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