Posted on 04/13/2011 9:30:50 AM PDT by sunmars
(Reuters) - President Barack Obama will set a goal of reducing the U.S. deficit by $4 trillion in the next 12 years or less in a speech Wednesday, a congressional source said.
His plan would curb the U.S. deficit to 2.5 percent of GDP in 2015, and by 2 percent toward the end of the decade, the source said.
(Excerpt) Read more at reuters.com ...
The GOP ALWAYS CAVES, ESPECIALLY WITH THE WHINER OF THE HOUSE.
$7 trillion? That’s bird seed next to what people have invested in the evil markets.
I could cut a trillion in a day.
When Obama talks, he is trying to defuse the situation that the Democrats are done nothing about cutting the out of control deficits.
So the liberal media will support him.
As long as tools (besides Freerepublic.com) like Facebook, email, Twitter, etc, are available, then conservatives, TEA Party, etc, must use all the tools to get the truth out, and expose the ObamaTalk (ObamaPropaganda).
LOL I see what you did there.
Sorry to say to but you’re thinking too small.
The plans I read about them discussing in committee was to take control of the funds completely. Not taxing them, just taking them and promising everyone a ‘guaranteed’ retirement.
Paul Ryan is speaking to BOs joke of a plan...
NO, YOU CAN’T BELIEVE A DAMNED THING THE DEMONAZIS, COMMUCRATS, LIBERALS, OR PROGRESSIVES SAY.
THEY ARE ALL LIARS AND OBAMA (BHO) IS THE BIGGEST LIAR OF ALL.
AFTER ALL THEY LIVE IN WASHINGTON DECEIT & CORRUPTION.
Well, there's the stim... no, that's no good.
Then, there's the bank bail... nope, that neither.
Oh, I know! There was no government shut... still not right.
Sorry, I'm out of ideas!
What a farce. Neither party should be permitted to say anything about hypothetical “cuts” 10 and 12 years down the road. The question is not what is going to happen in 2024, when America and the world will have gone through who knows how many more natural disasters and wars, but rather what these clowns are going to do with the current $1.7 trillion!!! current annual deficit. The only way that number will go down quickly is to (1) stop extending UI benefits, which will force people to take jobs and (2) seal the border so that you don’t get more bloodsuckers coming north to take what jobs are there. Let some of these folks spend the next 12 months without UI and they’ll soon take another view of these jobs that Americans supposedly won’t do.
The deficit needs to be cut by at least a trillion dollars in the next 12 months to make any serious progress against this massive problem. Even with a cut that massive (10 trillion over 10 years), the US would still accumulate another 7 trillion in new debt over that same period. This is why I don’t think even the Tea Party caucus has the stomach for the real fight that America needs to have happen, but which won’t. I firmly believe that America’s economy is going down a sinkhole and people won’t really wake up until the US dollar loses its world reserve currency status and you are paying $7 per gallon for gas and $5 for a loaf of bread.
$5 for a loaf of bread? - hey,we got a liitle more time before:
New International Version (©1984)
Then I heard what sounded like a voice among the four living creatures, saying, “A quart of wheat for a day’s wages, and three quarts of barley for a day’s wages, and do not damage the oil and the wine!”
Let’s party with O’bummer!!
Lemme guess — 3.9999 trillion to be cut after he leaves office.
He’s going to try and make Obamacare un-repealable. Just watch. But he’s ultimately hoping that he can sliver out of a tight situation. Republicans should keep attacking on all fronts.
He could have saved us and himself the trouble and just not put it there in the beginning.
If new fees help to make those government programs that they’re supposed to pay for more unpopular, works for me.
YOU LIE!!
“The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies. … Increasing America’s debt weakens us domestically and internationally. Leadership means that ‘the buck stops here.’ Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better.”
—From Sen. Obama’s Floor Speech, March 20, 2006
At the time, Senator Obama was urging Congress not to tolerate an increase that would bring the debt ceiling to $9 trillion. Under President Obama, the debt ceiling has been raised to $14.3 trillion. Even without counting most unfunded liabilities, the national debt is now calculated to be nearing $14.1 trillion. It increases about $4.22 billion per day (each citizen’s share stands at roughly $45K). Thus, Democrats will soon demand that the debt ceiling be raised, lest the sky fall. When they do, they will be asking for a significant boost in a ceiling that is already 60 percent higher than the one Barack Obama said was “a sign of leadership failure” five years ago.
What he just laid out was $300 billion a year yet he continues to run $1.6 trillion deficits per year. Is he saying he will spend only $1.3 trillion deficits per year?
Good try. LOL
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