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Posts Tagged ‘federal budget’

 

The non-partisan Congressional Budget Office projects that publicly held debt will reach 56.1 percent of GDP under current law. If President Obama’s budget is implemented, CBO projects debt to reach 82.4 percent of GDP  according to http://www.heritage.org/research/features/BudgetChartBook/Obama-Budget-Increase-Debt-26-Percent-GDP.aspx 

You can keep track of our spending ways at the National Debt clock  http://www.brillig.com/debt_clock/ 

While George Bush may not be a saint, but Obama is looking more and more like a sinner- spending more than any other President in history. The National Debt was $10.6-trillion on the day Barack Obama took office, if his budget projections come to fruition, he’ll run up nearly as much government debt in four years as President Bush did in eight. 

From, A Pfennig for For your thoughts http://www.dailypfennig.com/ , “we’ll see the Budget Deficit, which is expected to be $180 Billion for the month of May… If it tallies there at $180 Billion, the Budget Deficit in the first 5 months of this year will have exceeded $650 Billion… And that’s before the $787 Stimulus gets added… And other items that will come along… And don’t forget that we posted a deficit in April!  I still believe the Budget Deficit will be at least $3 Trillion this year! That would push our National Debt to around $14 Trillion…” For a great explanation of “why do the annual federal budget deficits not match increases in the national debt,” visit http://www.independent.org/blog/?p=2355

Twice as nice for a Wednesday, both Trade Deficit and Budget Deficit will be released today. Ten Banks are going to repay their TARP (troubled assets relief program) funds, to the tune of nearly $70 billion, but that will barely put a dent in America’s economic decline, say nothing of the move toward socialized everything. 

Senators Joseph Lieberman (I-Conn.) and Lindsey Graham (R-S.C.)”vowed again Tuesday to vote against — and, if possible, filibuster — the troop-funding bill and all other legislation until they get their way,” according to http://www.huffingtonpost.com/2009/06/09/lieberman-graham-threaten_n_213262.html The hissy fit is over a photo amendment that would prevent the release of the Gitmo torture photos forever and ever.

“Transparency in government is an American value, but it is not without limits, no more than any of the values embraced in our Constitution,” Lieberman said. “The transparency in this case is needless and dangerous transparency.”

Their actions have merit.  The world does not need to see how low America stooped.  Too bad these two didn’t have the balls necessary during the campaign to warn that an Obama administration of transparency, would only come when it was convenient for Obama.  If nothing else, this Senate delay saves us a few bucks while the debate goes on.

According to CNN- President Barack Obama on Tuesday proposed making “pay-as-you-go” rules for federal spending into law.  The so-called PAYGO proposal requires Congress to balance any increased spending by equal savings elsewhere. By all accounts, added entitlement spending will be offset with spending cursor tax increases. Talk about bait and switch!

ABC points out, “discretionary spending – roughly 40% of the federal budget – is not covered by PAYGO.” The PAYGO rules will apply to new tax cuts and mandatory spending, with four major exemptions – any renewal of the 2001 and 2003 tax cuts, the continued efforts to “patch” the Alternative Minimum Tax, any effort to address physician’s payments in Medicare, and modifying the estate tax.” http://blogs.abcnews.com/politicalpunch/2009/06/president-obama-paygo-and-the-deficit-hole.html 

“”This is like quitting drinking, but making an exception for beer and hard liquor,” said Maya MacGuineas, President of the Committee for a Responsible Federal Budget (CRFB). “Exempting these measures from PAYGO would increase the ten-year deficit by over $2.5 trillion dollars. That’s not fiscal responsibility.” I’ll have a nice chardonnay please, and it better not be the frig from France.

60% of the budget is not subject to PAYGO.  Why is no one having a hissy fit over that?  While President Obama may enjoy a 60% approval rating, PAYGO and his expensive socialistic plans still don’t achieve his goals.  Bush might have spent a pretty dime, but at least is was shining in democracy. 

 debt by country
 

 

 

 

 

 

 

props to http://chalktalk-talk.blogspot.com/2009/06/worldwide-national-debt.html on the Percent of GDP.  Japan debt is equally dismal especially in light of recent military actions on the part of it’s neighbor North Korea.   Obama who continues his spiel of climate change for jobs might want to take a look at Japans which “is doing the smart thing by not meeting it’s ‘Kyoto Protocol’ targets and is only pledging to cut it’s future CO2 emissions by 8%. Via http://motorcitytimes.com/mct/japan-will-protect-its-economy-first/  Right now they need jobs and so do we.

I think I”ll have a Saki instead of that chardonnay after all.

My share of I.O.U.S.A. debt leaves little room for more than a sip out of the White House Fountain.

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Obama has added further insult to all Americans saying that we have, “failed to appreciate Europe.”  Charles Krauthammer tore into Obama saying that “It’s hard to appreciate an entity’s leading role in the world when it’s been sucking on your tit for 60 years as Europe has.”

How does a sitting President jest at the same citizens he leads?   The same citizens who are bailing out the world with its tax dollars, promising to contribute funds to a global stimulus package. 

Being politically correct, note that it is suddenly offensive to refer to our government owned entities like GM and AIG as receiving bailouts, but rather government stimulus funds. 

Whether you call the domestic and international contribution a bailout or a stimulus, the money is funding The New World Order.  It’s not as if you weren’t warned, you just didn’t want to believe.   For better or worse, Gordon Brown has once again confirmed the future saying, “”This is collective action…we have resolved that from today we will together manage the process of globalization.”

Leaders at the G-20 summit have agreed to give $1 trillion to the International Monetary Fund and the World Bank for global unity and a financial strategy. 

We will have to wait to see how much Obama has promised at the G20 summit.  Who and what entity gives Obama the power to spend?  Who authorized Obama to wear a Mr. Goodwrench hat and authorize government backed car warranties?

The latest domestic budget is $3.6  trillion dollars and will create $9.6 trillion in debt.  From the WSJ, ” President Barack Obama delivered a $3.6 trillion budget blueprint to Congress Thursday that aims to “break from a troubled past,” with expanded government activism, tax increases on affluent families and businesses, and spending cuts targeted at those he says profited from “an era of profound irresponsibility.”  http://online.wsj.com/article/SB123564748462081261.html

Obama’s budget would produce $9.3 trillion in deficits over the next decade, more than four times the deficits of Republican George W. Bush’s presidency, congressional auditors said.  http://news.yahoo.com/s/ap/20090320/ap_on_go_pr_wh/obama_budget

Roosevelt’s ‘New Deal’ failed because it hindered people from helping themselves.  In both domestic and on an international scale, we see the same mistakes.  Obama says it isn’t time to redecorate the house but rebuild foundations.  Founded upon the foundation of democracy, America now has a dictator style infringement upon the rights of private companies and private citizens. 

Obama’s budget bill will essentially allow the Treasury to define “fair pay” for all employees, at any level.  The Serve Act proposes to make volunteering for the government mandatory with pay and prohibits, “volunteers from participating in worship and church activities, political rallies and naturally being involved in a union.  All hail Obama?

Don’t act surprised.  From day one we knew Obama felt that the Constitution is fundamentally flawed.  Redistributive change and socialism was first brought to MSM light by Joe The Plumber.  The ‘change you can believe in’ and ‘change we need’ are code words for Barack Obama’s ultimate goal: ‘redistributive change.’  http://www.worldnetdaily.com/index.php?fa=PAGE.view&pageId=79225

Not ready for the NWO? Obama has plans for a civilian Army as large as our military, and as well funded- $650 billion annually.  U.S. Troops are on active duty on US Soil and Mexican Troops stand at the ready on the Mexican border.  The Omnibus Land Seizure Act just gave the government thousands of acres to train more soldiers or place civil disobedient citizens into detention centers.  The last stimulus Bill includes $8 billion for America’s railroad system will provide for easy transportation of dissenters to Fema camps. “High-speed rail is the infrastructure bank,” said Rahm Emanuel, quoted at http://www.politico.com/news/stories/0209/18924_Page2.html  Senate Majority Leader Harry Reid on behalf of Las Vegas interests seeking a rail link to Los Angeles coined the term, “Sin City to Tomorrow Land.”

If Martial Law comes in America, do not expect ABC, BBC, CBS, CNN, Fox News Network, Reuters or the AP to give a full or accurate account of the truth due to limitations of the digital broadcasting system and the Fairness Doctrine. 

Under the guise of escalating U.S. defenses against cyberattacks, The Internet, cyber security “czar” has unprecedented authority to shut down computer networks, including private ones. The bills sponsor- Senate Commerce Committee Chairman John D. Rockefeller IV.

You were warned, Obama’s tomorrow land is today.

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