Obama’s Spending Plans Pose Political Risks

Washington Post via MSNBC ^ | June 13, 2009 | Scott Wilson

[John W]

After enjoying months of towering poll numbers, legislative victories and well-received foreign policy initiatives, the White House has become increasingly concerned that President Obama's spending plans, which would require $9 trillion in government borrowing over the next decade, could become a political liability that defines the 2010 midterm elections.

The concern was reflected in the aggressive response from administration officials to criticism that money from Obama's stimulus plan is arriving too slowly to help the languishing economy, as well as in the president's public endorsement of "pay as you go" legislation, which would require Congress to make room for new non-discretionary spending with equivalent cuts to other parts of the budget. Saturday, Obama also outlined billions of dollars in savings that would be used to pay for his health-care reform proposal.

But there is evidence of growing public concern over his fiscal policies. As he traveled Thursday in Green Bay, Wis., Obama was greeted by demonstrators holding signs that said, "No socialism" and "Taxed Enough Yet?"

[dajeeps]

"...President Obama's spending plans, which would require $9 trillion in government borrowing over the next decade, could become a political liability that defines the 2010 midterm elections..."

And so it should, especially since none of the spending so far has produced the promised results, giving us an even more grim fiscal picture instead with nothing to show for it. We were told that with the porkulus package the unemployment rate would top out at 8.2%. We are now at 9.4% with fudged May numbers, which means that government revenue has taken a bigger hit than expected and is now even farther in the hole.

Can we help it if we told them so and they didn't listen?

[Jabba the Nutt]

MSNBC, the official Obama network, is telling us that Obama's only political problem is his spending plans with $9 trillion in new debt. Hell, they can't even get that right. This year alone, Obama projects $1.75 trillion in new debt, but it's going to be over $2 trillion. MSNBC thinks that over the next 10 years, it's only going to be another $7 trillion?

Just on the economic front, Obama is going to own double-digit unemployment, he owns GM, he owns Chrysler, he owns shutting down thousands and thousands of dealerships, he owns the bank bailout, which even the banks are trying to give the money back. He owns higher taxes, he owns higher gasoline prices. He owns cap and trade, where he plans to at least double people's electricity bills. Yes, that's the plan.

He owns the economic attitude now among businesses that scares the hell out of them. So, there's little if any new investments.

Just ask yourself, with the Obama/Democrat's plans, where's the economic turnaround going to come from? Healthcare nationalization?

[Oldeconomybuyer]

[MSF BU]

These charts always interest me. This one shows a surplus, but at no time over the last thirty years has the national debt been reduced. Something must not be accounted for, and my guess is that the off budget items are not reflected in that chart (nor are unfunded liabilities).

[RoadTest]

Political risks? POLITICAL RISKS? He’s breaking the country!

[ExTexasRedhead]

VOTE THEM ALL OUT and put them on notice that they will be voted out in 2010 and 2012. Let the tea parties begin.

[italianquaker]

“well-received foreign policy initiatives”

Did I miss something?

[Steven Tyler]

This message needs to be re-inforced
“Tea Party!!”

[Vaduz]

But there is evidence of growing public concern over his fiscal policies.And only after six months one thing no one can never call a democrat voter is a fast thinker.