Posted on 02/13/2012 6:36:02 PM PST by Kaslin
Financial Ruin: What do you call a budget that boosts spending $227 billion, adds $329 billion to an already huge deficit, and does nothing to fix the entitlement crisis? If you're President Obama, it's called "fiscal responsibility."
In the message Obama attached to his 2013 budget, he claimed that he's "taken many steps to reestablish fiscal responsibility."
But his budget is a colossal monument to irresponsibility, continuing a deficit-fueled spending spree that will take the country ever closer to fiscal ruin.
Just how big is this budget's spending splurge? Among other things:
• It increases projected federal spending for this year and next by a total of $227 billion, and adds $329 billion to projected deficits for those years.
• It includes another $315 billion in stimulus spending this year and next, despite the abject failure of the last stimulus, and claims by Obama himself that the economy is already on the mend.
• It spends a stunning $2.7 trillion more over the next decade than the Congressional Budget Office's "baseline" projections.
• It produces nearly $7 trillion in total deficits over the next decade, despite claims by Obama that he's cutting the deficit by $4 trillion.
Obama also claims his budget enacts "a wide range of mandatory savings," including "more than $360 billion in reforms to Medicare, Medicaid, and other health programs over 10 years."
(Excerpt) Read more at news.investors.com ...
Better call the Obama ‘Truth Squad’, they got their work cut out for them.
If he thinks he had it rough inheriting problems of a previous President, I pity the poor candidate that is elected that follows this classic Act of irresponsibility.
saw this posted somewhere else today...seems to fit...unfortunately
The Debt Ceiling Explained:
U.S. Tax revenue: $2,170,000,000,000
* Fed budget: $3,820,000,000,000
* New debt: $ 1,650,000,000,000
* National debt: $14,271,000,000,000
* Recent budget cuts: $ 38,500,000,000
Let’s now remove 8 zeros and pretend it’s a household budget:
* Annual family income: $21,700
* Money the family spent: $38,200
* New debt on the credit card: $16,500
* Outstanding balance on the credit card: $142,710
* Total budget cuts: $385
Got It ?????
saw this posted somewhere else today...seems to fit...unfortunately
The Debt Ceiling Explained:
U.S. Tax revenue: $2,170,000,000,000
* Fed budget: $3,820,000,000,000
* New debt: $ 1,650,000,000,000
* National debt: $14,271,000,000,000
* Recent budget cuts: $ 38,500,000,000
Let’s now remove 8 zeros and pretend it’s a household budget:
* Annual family income: $21,700
* Money the family spent: $38,200
* New debt on the credit card: $16,500
* Outstanding balance on the credit card: $142,710
* Total budget cuts: $385
Got It ?????
I’ve seen that explanation from Rick Santelli and Dave Ramsey.
Sadly NOTHING I’ve seen today on the MSM has been even slightly critical of Baraq’s disastrous budget.
Criminal intent?
Yeah, that sounds about right.
.
It’ll never pass and Obama knows it.
Just more smoke in mirrors. More lies. More distortions.
And the depressing part: a lot of the people bringing you this type of crap are going to win this Nov.
Gretchen Carlson said this morning it is nothing but a hope for reelection budget
Yep, this is all a game to baraq.
If he is pursuing anything, he is pursuing cloward piven, collapse the system.
It has been over 3 years since an actual budget was passed.
If baraq gets a second term, there will no restraints on him. If he gets voted out, the next president will be left with a situation much like Europe on his hands.
Baraq: “heads I win, tails you lose”.
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