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Obama Economic Plan Would Explode Debt to $25.4 Trillion
Big Government ^ | August 4, 2012 | Wynton Hall

Posted on 08/04/2012 3:51:09 PM PDT by Zakeet

In presidential campaign ads, President Barack Obama claims that his economic plan includes “$4 trillion in deficit reduction.” For a president who has increased the national debt more than all U.S. presidents from George Washington to George H.W. Bush combined, the claim seems incredible. Indeed, it is.

A new analysis of Mr. Obama’s budget reveals the president’s plan would add $10.6 trillion in debt accumulation over the next decade, bringing the U.S. federal debt to a jaw-dropping $25.4 trillion.

Still, the president and his surrogates continue to claim the Obama plan would cut spending. “The President’s proposals… include a balanced deficit reduction plan that would reduce our deficits by $4 trillion over 10 years,” said White House Press Secretary Jay Carney in June.

In addition, the Obama budget contains $1.8 trillion in tax increases over the next decade. Specifically, the top marginal tax rate would jump to 39.6 percent, taxes on dividends would skyrocket to 43.4 percent (from 15 percent), and the death tax would leap to 45 percent.

(Excerpt) Read more at breitbart.com ...


TOPICS: Business/Economy; Front Page News; Government; News/Current Events
KEYWORDS: 112th; 2012; 2012issues; bho44; bhofascism; budget; deficit; democrats; economics; elections; inflation; nobama2012; obama; obamanomics; socialistdemocrats; taxandspend; taxes; youpayforthis; yourkidspayforthis

We can't possibly be broke ... cause we still got checks in the checkbook!

1 posted on 08/04/2012 3:51:33 PM PDT by Zakeet
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To: Zakeet

Geeez. That moron is even starting to look like Rahm Emanuel. I guess all Chicago street thugs DO look alike.


2 posted on 08/04/2012 3:55:23 PM PDT by FlingWingFlyer (The NRA did not create James "The Joker" Holmes. Harvey Weinstein's Hollywood did.)
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To: Zakeet

Holy Cloward and Piven, Batman!


3 posted on 08/04/2012 3:55:51 PM PDT by fhayek
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To: Zakeet
A new analysis of Mr. Obama’s budget reveals the president’s plan would add $10.6 trillion in debt accumulation over the next decade, bringing the U.S. federal debt to a jaw-dropping $25.4 trillion.

Just raise taxes on all who make $250,000 or more and we will be running a surplus....

If this isn't a Cloward and Piven movement I don't know what it is.

4 posted on 08/04/2012 3:57:12 PM PDT by EGPWS (Trust in God, question everyone else)
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To: Zakeet
Photobucket
5 posted on 08/04/2012 3:57:28 PM PDT by Huskrrrr
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To: EGPWS

I guess you and I are on the same page. I would be concerned about that if I were you. (lol)


6 posted on 08/04/2012 3:59:34 PM PDT by fhayek
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To: EGPWS

I guess you and I are on the same page. I would be concerned about that if I were you. (lol)


7 posted on 08/04/2012 4:01:13 PM PDT by fhayek
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To: Zakeet
Here are 48 things that Barack Obama has done which should make his supporters feel ashamed and embarrassed
8 posted on 08/04/2012 4:04:54 PM PDT by grundle
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To: Zakeet
From the 'Book of Emanuel':
9 posted on 08/04/2012 4:20:44 PM PDT by CharlesMartelsGhost
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To: Zakeet

http://www.youtube.com/watch?feature=player_embedded&v=SaQUU2ZL6D8

Here is Obama pledging in 2009 to cut the deficit in half by the end of his first term in office.


10 posted on 08/04/2012 4:21:50 PM PDT by ResponseAbility (The beauty of liberalism is that the stupid can feel smart, the lazy can feel entitled, and the immo)
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To: Zakeet

Absolutely, totally unredeemable fiscal debt is one of the key elements of Obummer’s plan for fundamentally transforming the U.S.A. Its working!!!


11 posted on 08/04/2012 4:43:07 PM PDT by Elsiejay
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To: Zakeet

Obama has lied to America for more than 6 years.

Why would anyone expect him to tell the truth at this stage of the election game???


12 posted on 08/04/2012 5:02:52 PM PDT by ridesthemiles
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To: Zakeet; Berlin_Freeper; Hotlanta Mike; Silentgypsy; repubmom; HANG THE EXPENSE; Nepeta; Bikkuri; ...



13 posted on 08/04/2012 5:09:13 PM PDT by Brown Deer (Pray for 0bama. Psalm 109:8)
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To: Zakeet

That sucks - I’d hate to be one of the poor saps who’s going to pay that bill. :)


14 posted on 08/04/2012 5:14:35 PM PDT by Tzimisce (THIS SUCKS)
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To: Zakeet

Someone needs to take this information and add various scenarios regarding taxing the rich. The tiny bars next to the spending and debt bars would be an interesting comparison.


15 posted on 08/04/2012 5:24:43 PM PDT by LuvFreeRepublic
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To: Zakeet

The hell with the debt. We won’t even be able to make the interest payments.


16 posted on 08/04/2012 5:38:36 PM PDT by chessplayer
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To: fhayek
Holy Cloward and Piven, Batman!


You got that right.

The title of this article is rather misleading.

Obama’s policies WOULD raise the deficit to 25 trillion give or take in the given time frame if it were not for the fact that we undergo a debt driven total economic collapse well before the deficit hit 25 trillion dollars.

Of course, if the collapse was fueled by hyperinflation, then the debt could go way higher during the collapse, but then 1 trillion dollars would not buy a cup of coffee if that happened.

17 posted on 08/04/2012 6:21:26 PM PDT by rdcbn
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To: rdcbn
Well, hyperinflation really is the only realistic scenario presented to us. When we are ultimately called upon to service the debt, it will not be either economically or politically feasible to raise the money through increased taxation. It will get nasty for everyone who has investments in dollars. And that, of course, stands for everyone, worldwide. Maybe I am wrong. But I do not see any other way out.

P.S. THERE is perhaps another way out, but that involves selling mineral rights in the west and Alaska to foreign interests. Again, there are economic and politcal limitations to this approach as well.

18 posted on 08/04/2012 7:15:01 PM PDT by fhayek
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To: fhayek

I tend to think that near simultaneous worldwide economic crisis in the major world economies due current economic problems are going to create enough economic dislocations to drive deflation in the near term.

What direction things go after that depends on what our politicians do to screw things up.

What is certain, however, is that whatever they do, they will screw things up even worse that they already are.

At least until the wars start


19 posted on 08/04/2012 7:43:56 PM PDT by rdcbn
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To: fhayek

I tend to think that near simultaneous worldwide economic crisis in the major world economies due current economic problems are going to create enough economic dislocations to drive deflation in the near term.

What direction things go after that depends on what our politicians do to screw things up.

What is certain, however, is that whatever they do, they will screw things up even worse that they already are.


20 posted on 08/04/2012 8:38:57 PM PDT by rdcbn
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To: Zakeet

Someone answer this question: Will this country survive if there is a $25 trillion debt?


21 posted on 08/04/2012 10:26:30 PM PDT by Terry Mross
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To: Zakeet
Still, the president and his surrogates continue to claim the Obama plan would cut spending. “The President’s proposals… include a balanced deficit reduction plan that would reduce our deficits by $4 trillion over 10 years,” said White House Press Secretary Jay Carney in June.

See, ya just gotta un'erstan' Democrat Math. The idea was to bump the debt up to twenty nine point four trillion, so this plan would reduce that to twenty five point four trillion, and that's a four trillion dollar cut.

See how 'at works?

Jesus, help us if these fools stay in power.

22 posted on 08/04/2012 11:46:46 PM PDT by Smokin' Joe (How often God must weep at humans' folly. Stand fast. God knows what He is doing)
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To: Zakeet

“A new analysis of Mr. Obama’s budget reveals the president’s plan would add $10.6 trillion in debt accumulation over the next decade, bringing the U.S. federal debt to a jaw-dropping $25.4 trillion.”

After 4 long years and he’s just now revealing this visionary plan? How did we Americans survive this long without him?


23 posted on 08/05/2012 2:42:42 AM PDT by Artie
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To: Zakeet
To all marxists with incredibly large ears who call themselves Obama: You are a jerk , bigtime.
24 posted on 08/05/2012 11:26:07 AM PDT by rurgan (Sunset all laws at 4 years.China is destroying U.S. ability to manufacture,makes everything)
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To: Terry Mross

Someone answer this question: Will this country survive if there is a $25 trillion debt?

NO. But many even here say we the U.S.A are so productive.What drugs are they smoking , bathsalts?


25 posted on 08/05/2012 11:29:16 AM PDT by rurgan (Sunset all laws at 4 years.China is destroying U.S. ability to manufacture,makes everything)
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To: Zakeet; Alas Babylon!; blam; Son House; Perdogg; stephenjohnbanker; M. Espinola; FreedomPoster
The truth is that 0 does not run the U.S. government. Our government is run by the Federal Reserve and it is private bank owned by an elitist banking cartel:

More proof here:

http://www.youtube.com/watch?v=THlaMUq6MKU&feature=related

What happened to Mr Q ___ ? He was forced out of power and violently gang raped by a mob. A warning to other depots like Assad perhaps _____ ?

26 posted on 08/05/2012 1:37:51 PM PDT by ex-Texan (The Time to "Wake Up" is Over !)
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To: Zakeet

27 posted on 08/05/2012 3:06:03 PM PDT by BenLurkin (This is not a statement of fact. It is either opinion or satire; or both)
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To: EGPWS
Just raise taxes on all who make $250,000 or more and we will be running a surplus....

You don't actually believe that, do you?

28 posted on 08/05/2012 4:21:49 PM PDT by DuncanWaring (The Lord uses the good ones; the bad ones use the Lord.)
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To: DuncanWaring
You don't actually believe that, do you?

I have to believe it because the messiah says that he will balance the budget on the backs of those who don't pay their fair share and that the middle class won't see a penny of tax increases.

And the messiah wouldn't lie.

29 posted on 08/05/2012 5:20:33 PM PDT by EGPWS (Trust in God, question everyone else)
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To: Brown Deer

Just think. That’s probably a low-ball estimate.


30 posted on 08/05/2012 5:25:40 PM PDT by combat_boots (The Lion of Judah cometh. Hallelujah. Gloria Patri, Filio et Spiritui Sancto.)
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To: EGPWS

How silly (and blasphemous) of me to doubt the messiah.


31 posted on 08/05/2012 5:30:24 PM PDT by DuncanWaring (The Lord uses the good ones; the bad ones use the Lord.)
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To: Zakeet

We are at the point where the democrats just issue baseless lie after baseless lie. They figure they can get away with it because their media lovers will never call them on it, any time we do it becomes a simple he said shes said argument to the American people.

Half the people will believe us and their half will continue to believe them. Facts, figures, and results be damned as they can all be either denied or blamed upon someone else(anyone including the tooth fariy).


32 posted on 08/05/2012 8:07:57 PM PDT by Monorprise
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To: ex-Texan
Still in rare form.

I heard the Fed took all the Americans who died from Fukushima radiation and buried them at Bohemian Grove.

33 posted on 08/05/2012 9:31:03 PM PDT by Toddsterpatriot (Math is hard. Harder if you're stupid.)
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