Skip to comments.Obama Warns: Budget Cuts will Slow Economy, Eliminate Jobs
Posted on 02/25/2013 11:22:48 AM PST by Eleutheria5
US President Barack Obama warned warring politicians Monday it was time to start governing as Washington headed into another manufactured crisis threatening the fragile economy.
Obama told an annual meeting of state governors at the White House that huge budget cuts due to hit on March 1 would "slow our economy, eliminate good jobs" and leave Americans with "thinly stretched" budgets wondering what to do, AFP reported.
The president is demanding that congressional Republicans stave off a set of arbitrary, automatic spending cuts known as the sequester by closing tax loopholes that benefit the rich and corporations.
"We can't just cut our way to prosperity. Cutting alone is not an economic policy," Obama told Democratic and Republican governors in the State Dining Room of the White House.
Many Republicans agree that the sequester, which imposes across the board cuts of $85 billion this year from government programs, is a bad way to cut spending and reduce the deficit.
But they argue that Obama is not serious about reining in spending and warn the president that his success in getting higher income tax rates on the rich late last year is the last time they will permit him to raise more revenue.
(Excerpt) Read more at israelnationalnews.com ...
85 billion out of HOW much?
With the number of things that this 44 billion is paying for, we should keep it and cut 2 trillion elsewhere.
I wonder who told him this. I know he didn't figure it out for himself.
I also wonder if someone told him that it is HIS policies that have put us in this position?
How would he know? He hasn’t been on the job since he was first elected....
I figure if the Communist In Chief is for something, then I’m generally against it.
Question: When a t*rd speaks, what does one call the things that come out of the t*rd’s mouth?
I’m slacking at my second job these days, doing my part to crash the economy, so y’all can blame me.
Worst. Congress. Ever. Worst. _Resident. Ever.
if one still believes in the integrity of our election process (I don’t), budget cuts may result in a number of democrap politicians to not get reelected
How much slower can the economy get?
If the layoffs are for government leeches that’s a good thing. But we all know that aint gonna happen.
I’ve been saying for months that they know the economy is going to not just slow, but CRASH,
and they have everything in place to blame Republicans, Conservatives, and Preppers for that crash.
It will eliminate private sector and civilian jobs, not government jobs. That’s the plan. Throw in a pinch of 0bamacare and 0bama’s government-run utopia is realized. Scary times, folks. We know what’s happening and we can’t stop it.
You're correct, its obvious. But does the GOP plan to respond?
Do they EVER have a response plan?
Obama is a Marxist. He believes that government spending (perpetually referred to as “investment”) is what creates jobs, and that because government provides protection and security to its citizens, it has a first claim on all income earned by those citizens by means of an implied social compact. Besides, allowing people to keep “too much” of their own money results in a dangerous concentration of wealth and the “misallocation” of scarce economic resources.
Please don't ruin Obama's wonderful economy & fabulous job growth.
Oh No!!! He's going to blame in on you. How will you ever live THAT down.
Why did Obama approve it then if he knew it would do damage.
Sure they will. But it’s a tradeoff with lower deficits and efficient allocation of capital. The private sector has completely restructured. Why hasn’t the federal government?
Who’d notice the difference at this point?
And as Sara Palin would say: