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Keyword: federalbudget

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  • Will Obama’s attacks on Veterans ever stop?

    02/05/2015 11:13:55 AM PST · by Oldpuppymax · 11 replies
    Coach is Right ^ | 2/5/15 | Kevin "Coach" Collins
    Looking back, we might have been off when the Democrats didn’t pass a Federal Budget for six years, because now that think they are in “the game,” Barack Obama is swinging his ax at a very valuable program designed to help America’s wounded Veterans. The provision, called The Veteran’s Choice Program and authored by Arizona Republican Senator John McCain, gives veterans the option to seek faster and in some cases better medical care outside of the Veteran’s Administration system. In many cases this provision offers the only avenue for relief from the very long waiting times so many Vets have...
  • Obama: Federal government not big enough; will increase budget by 7% next year

    01/16/2015 7:00:21 AM PST · by SeekAndFind · 12 replies
    American Thinker ^ | 01/15/2015 | Rick Moran
    President Obama wants to toss the sequestration agreement he made with Republcians in 2011 and is proposing an increase of at least $68 billion in the FY 2016 budget. As imperfect as it is, sequestration has been partly successful in reigning in government spending. It could have worked better if Congress wasn't always carving out exemptions. But there's no doubt that there are tens of billions of dollars that would have been spent without it. With tax receipts at an all time high, rather than applying that money to reducing the deficit, the president - as every Democratic president...
  • 2014 Federal Budget in Pictures

    02/13/2014 9:34:00 AM PST · by 1rudeboy · 20 replies
    Federal spending and debt are out of control If America does not change course, the future will be dramatically worse. Now more than ever, it is crucial that Americans understand what our nation's spending, taxes, and debt mean for them and their families. The Heritage Foundation's Federal Budget in Pictures offers a unique tool to learn about the federal budget in a clear and compelling way.
  • Russian Diplomats Busted for Bilking Medicaid

    12/15/2013 5:44:46 AM PST · by Kaslin · 6 replies
    Townhall.com ^ | December 15, 2013 | Daniel J. Mitchell
    When you work in Washington (and assuming you haven’t been corrupted), you run the risk of being endlessly outraged about all the waste. But not all waste is created equal. Some examples are so absurd that they deserve special attention. Forcing taxpayers to pay millions of dollars for pro-Obamacare and pro-IRS propaganda.Doing interviews – at a per-person cost of $6,000 – about erectile dysfunction and sticking the tab on us.Hiring bureaucrats to monitor school lunches and replace healthy turkey sandwiches with processed chicken nuggets.Giving disability benefits to a grown man who wants to wear diapers and live as an “adult...
  • 6 Things We've Learned About Democrats From The Government Shutdown

    10/05/2013 5:19:04 AM PDT · by Kaslin · 69 replies
    Townhall.com ^ | October 5, 2013 | John Hawkins
    Democrats thought shutting down the government was going to be the smartest decision they ever made, but it's looking more like Napoleon's march into Russia every day. For the first time in years, the Republicans sound like reasonable, principled adults who are willing to compromise to help the country. Meanwhile, Democrats are coming across like arrogant Lords telling the rest of the rabble in flyover country what rights they're willing to allow them to have. Just look at what the public has already learned about the Democrats from the shutdown. 1) Harry Reid doesn't care about kids with cancer: It's...
  • White House budget talks with Senate Republicans break off

    08/31/2013 6:12:26 AM PDT · by Olog-hai · 11 replies
    Reuters ^ | Fri Aug 30, 2013 6:26pm EDT | David Lawder
    Budget talks between the White House and a small group of U.S. Republican senators have reached an impasse, eliminating Washington’s only active channel for resolving deep fiscal differences as key deadlines loom, senators and aides said on Friday. A meeting on Thursday between the eight senators and White House chief of staff Denis McDonough failed to produce any movement toward a deal to reduce “unsustainable debt and deficits,” said Senator Dan Coats, a Republican from Indiana. … Republican Senate aides said that the group of senators, led by Johnny Isakson of Georgia, does not see any reason to continue the...
  • Pinocchio reigns: Lies our government tell us [Budget exploding, not shrinking]

    03/17/2013 12:45:48 PM PDT · by Moseley · 7 replies
    BIZ PAC Review (West Palm Beach, Florida) ^ | March 17, 2013 | Jonathon Moseley
    Will 10 percent cuts in government spending known as “sequester” really harm American citizens in our everyday lives? Or have politicians gone way too far this time with their lies? The truth – sharply contradicting President Obama’s assertions – can be found buried within data published by the Office of Management and Budget under “Historical Tables” posted at www.WhiteHouse.Gov. Some calculation is needed to subtract 2013 projected spending from 2008 spending and to adjust for the 10 percent sequester from “Table 4.1—Outlays by Agency: 1962–2017.” Our nation is struggling with an extraordinary rash of government lies even while government spending...
  • ‘Saturday Night Live’ on the sequester (video)

    03/04/2013 8:31:36 AM PST · by Seizethecarp · 15 replies
    Washington Post ^ | March 3, 2013 | Chris Cillizza
    Even the White House is feeling the squeeze from the across-the-board cuts in federal spending. “From now on, my wife, Michelle, will only do four television appearances a week,” says “President Obama.”
  • John Kerry gifts Egypt $250 million despite U.S. Sequestration

    03/03/2013 1:20:38 PM PST · by george76 · 22 replies
    Examiner ^ | March 3, 2013 | Larry Clifton
    Obama's administration gave Egypt $450 million in emergency aid in 2012 and the country averages about two billion in U.S. foreign aid money each year. ... Earlier this year the Obama administration rattled the nerves of Israeli leaders when he agreed to supply Egypt with dozens of F-16 cutting-edge fighter jets at a cost of approximately $213 million to U.S. taxpayers.
  • Kerry Announces Millions in U.S. Aid for Egypt

    03/03/2013 1:33:22 PM PST · by tobyhill · 81 replies
    ny times ^ | 3/3/2013 | By MICHAEL R. GORDON
    Secretary of State John Kerry announced Sunday that the United States would provide $250 million in assistance to Egypt after Egypt’s president promised to move ahead with negotiations with the International Monetary Fund over economic reforms. In a statement issued after his two-hour meeting with President Mohamed Morsi, Mr. Kerry said the aid decision reflected Egypt’s “extreme needs” and Mr. Morsi’s assurance that Egypt would reach an agreement with the I.M.F. after more than a year of talks over a $4.8 billion loan package. The statement issued by Mr. Kerry noted that he and Mr. Morsi had discussed the need...
  • Reality Show Proposal: OM WannaB (Cutting the Federal Budget)

    01/15/2013 1:20:48 PM PST · by PJ-Comix
    Self | January 14, 2013 | PJ-Comix
    Whenever the subject turns to the details of the federal budget, most citizens go into snooze mode. However, I have an idea for a reality show which in contrast to most reality shows which are either annoying (Kardashians) or laughable (Amish Mafia) would actually be performing a public service in terms of making the public aware of budget details as well as entertaining. Here is how the "OM WannaB" show would work. Four participants would be chosen from those who would want the power of the head of the Office of Management and Budget. Each of them would be given...
  • Fiscal Cliff In Plain English

    12/30/2012 9:53:09 AM PST · by Wuli · 7 replies
    Wuli | December 30, 2012 | Wuli
    “Fiscal Cliff” in plain English Lesson # 1: * 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 Now, let's remove 8 zeros and pretend it's a household budget: * Annual family income: $21,700.00 * Money the family spent: $38,200.00 * New debt on the credit card: $16,500.00 * Balance on the credit card: $142,710.00 * Total budget cuts so far: $38.50 Got It ? ..... OK now,,,,,,,,,,,, ------------------------------------------------------------------ Lesson # 2: Here's another way to look at the "Debt Ceiling": Let's say, you come home from work...
  • Fiscal cliff countdown: Medicare payments in real dange

    12/21/2012 4:11:37 AM PST · by Makana · 19 replies
    Fierce Healthcare ^ | December 20, 2012 | Karen Cheung-Larivee
    It's a countdown until massive cuts hit Medicare providers. With only a few days left in the calendar year, providers are waiting with bated breath about the outcomes of fiscal cliff talks on Capitol Hill. And unlike previous short-term fixes, the threat is real this time, American Medical Association (AMA) President Jeremy Lazarus told Forbes. The decision of lawmakers will determine the outcome of Medicare cuts that hang in the balance in these final weeks of the year. Unless Congress and the White House administration can agree on plans to avoid the fiscal cliff, a 27 percent reduction in Medicare...
  • Fiscal cliff countdown: Medicare payments in real dange

    12/21/2012 4:11:33 AM PST · by Makana · 5 replies
    Fierce Healthcare ^ | December 20, 2012 | Karen Cheung-Larivee
    It's a countdown until massive cuts hit Medicare providers. With only a few days left in the calendar year, providers are waiting with bated breath about the outcomes of fiscal cliff talks on Capitol Hill. And unlike previous short-term fixes, the threat is real this time, American Medical Association (AMA) President Jeremy Lazarus told Forbes. The decision of lawmakers will determine the outcome of Medicare cuts that hang in the balance in these final weeks of the year. Unless Congress and the White House administration can agree on plans to avoid the fiscal cliff, a 27 percent reduction in Medicare...
  • Middle-Class Wealth Protection, Post-Fiscal Cliff

    12/02/2012 4:07:37 PM PST · by betty boop · 61 replies
    self | December 2, 2012 | Jean F. Drew
    Middle-Class Wealth Protection, Post-Fiscal Cliff By Jean F. Drew I don’t know about you, but I’m a lifelong, middle-class working stiff who has managed to accumulate a certain modest amount of “wealth” designated to be sent to the future, to supply my support and lifestyle needs when I am “old” and no longer have employment income. I’m speaking of my 401(k)s and IRAs. The way I have assets deployed in these accounts very likely will need to change, given the absolutely predictable outcome of the much-hyped impending fiscal cliff. At least, that is my supposition. Consider: We get the fiscal...
  • EARMARKS

    07/28/2012 10:10:04 PM PDT · by AMP1
    AmpersanArchist.com ^ | 2012-05-19 | AmpersanArchist1
    EARMARKS $129,859,196,359 This is a short outline describing only one method, only one very small portion of the vast Federal Budget, that elected officials use, with impunity, to TRANSFER WEALTH from hard working citizens, like you, to UNDESERVING PATRONAGE GROUPS. Or, to put it in other terms, they STEAL your money and BUY LOYALTY and VOTES so they can stay in office and power. Or to put it yet another way, THEY APPROPRIATE THE MONEY YOU WORKED YOUR ASS OFF TO EARN AND RE-DISTRIBUTE IT IN A MORE “FAIR” WAY. Don’t forget they are SMARTER than you and know how...
  • Obama: Anti-Founders Debt-Accumulating Spendthrift (Part 1 of 2)

    07/10/2012 12:37:28 AM PDT · by Kaslin
    Townhall.com ^ | July 10, 2012 | Chuck Norris
    In 2007, when I began writing my New York Times best-seller "Black Belt Patriotism," unemployment was less than 5 percent; the annual federal budget was about $2.9 trillion; the federal deficit was $161 billion; and the national debt was $9 trillion. Today unemployment is stuck at 8.2 percent; the federal budget is $3.8 trillion; the national deficit is $1.3 trillion; and the national debt quickly is approaching a staggering $16 trillion. And to add insult to injury, our vassalage to other countries deepens as they bankroll increasing amounts of U.S. debt, and more than 50 percent of our public debt...
  • Obama, Democrats not serious about passing budget

    04/29/2012 3:06:07 PM PDT · by Red Steel · 9 replies
    cnn ^ | updated 12:21 PM EDT, Sun April 29, 2012 | Ron Johnson
    Editor's note: U.S. Sen. Ron Johnson, R-Wisconsin, is a member of the Senate Budget Committee. (CNN) -- The U.S. government is the largest financial entity in the world. Nothing else comes close. On Sunday, April 29, it will be exactly three years since the U.S. Senate passed a budget. If you own or work for a small business that has a loan from a bank, I'm quite sure your business has a budget -- and a rather detailed budget at that. Every year around tax time, many American families sit down to fill out tax forms, estimate their income, and...
  • House Budget Committee Votes To Advance FY2013 Path to Prosperity

    03/21/2012 6:34:49 PM PDT · by Hunton Peck · 1 replies
    Committee on the Budget: U.S. House of Representatives ^ | March 21, 2012 | Paul Ryan, Chairman
    WASHINGTON – Moments ago, the House Budget Committee advanced a Fiscal Year (FY) 2013 budget resolution that cuts government spending, repairs the safety net, and lifts the crushing burden of debt. The FY2013 budget resolution is expected to be considered on the House floor next week. Following passage of the resolution, House Budget Committee Chairman Paul Ryan issued the following statement: “Elected representatives have a solemn obligation to help ensure that our children have more opportunity and inherit a stronger America than our parents gave us. The Democrat-controlled Senate has failed to pass a budget in over 1,000 days, while...
  • Here We Go Again: US $25 Million Away From Debt Ceiling Breach

    01/05/2012 1:31:25 PM PST · by RobertClark · 22 replies
    ZeroHedge ^ | 01/05/12 | Tyler Durden
    It's simply amazing how quickly the US managed to hit its debt target, pardon, debt ceiling all over again...And now the Social Security Fund pillaging begins anew until Congress signs off on the latest interim debt ceiling increase.
  • Obama signs $1 trillion-plus spending bill

    12/23/2011 11:04:55 AM PST · by Free ThinkerNY · 11 replies
    Associated Press ^ | Dec. 23, 2011
    WASHINGTON (AP) -- President Barack Obama has signed a $1 trillion-plus 2012 spending bill that sets the day-to-day budgets of 10 Cabinet agencies. The Senate approved the bill last Saturday in a flurry of year-end activity that was overshadowed by an ensuing confrontation over extending a payroll tax cut.
  • Local police stockpile high-tech, combat-ready gear

    12/21/2011 3:52:54 PM PST · by Makana · 15 replies
    America's War Within ^ | December 21, 2011 | Andrew Becker, Center for Investigative Reporting | G.W. Schulz, Center for Investigative Reporting
    If terrorists ever target Fargo, N.D., the local police will be ready. In recent years, they have bought bomb-detection robots, digital communications equipment and Kevlar helmets, like those used by soldiers in foreign wars. For local siege situations requiring real firepower, police there can use a new $256,643 armored truck, complete with a rotating turret. Until that day, however, the menacing truck is mostly used for training runs and appearances at the annual Fargo picnic, where it’s been displayed near a children’s bounce house. “Most people are so fascinated by it, because nothing happens here,” said Carol Archbold, a Fargo...
  • Mark Levin Show,M-F,6PM-9PM,EST,WABCAM,November 10,2011

    11/10/2011 2:51:38 PM PST · by Biggirl · 76 replies
    Mark Levin Show ^ | November 10,2011 | Biggirl
    The Legacy Lives On! Mark’s Lost Dog & Cat Rescue Foundation “Conservatism is the antidote to tyranny precisely because its principles are the founding principles.” --Mark Levin in Liberty and TyrannyWelcome to “The Levin Lounge”… Step in and have a virtual FRink.Taking the country by storm, one radio station at a time – and kicking the BUTTS of the competition! Welcome all, to the most FUN LIVE THREAD on FreeRepublic.com! You can call Mark’s show: 1-877-381-3811
  • Credibility Deficit Widens with President’s Third “Budget” in Seven Months

    09/21/2011 12:22:15 PM PDT · by Hunton Peck · 3 replies
    Committee on the Budget: U.S. House of Representatives ^ | September 21, 2011 | Paul Ryan, Chairman
    In the span of seven months, President Obama has offered three different budget plans for the federal government. He offered an actual budget in February, a budget “framework” in April, and yet another tax-and-spend plan this past week (more spending in the “American Jobs Act”; more taxes in a new plan unveiled yesterday). Unfortunately, none of these approaches has provided the kind of leadership that America needs to lift the crushing burden of debt while promoting sustained economic growth. The following House Budget Committee analysis unpacks the President’s widening credibility deficit – on taxes, spending, debt, and gimmicks. Tax Hikes...
  • Rep. Hayworth joins Fox News host Shannon Bream to discuss debt ceiling negotiations - July 31

    07/31/2011 2:42:31 PM PDT · by Impala64ssa · 4 replies
    Cong. Tim Ryan(D-OH) debating Cong. Nan Hayworth(R-NY)
  • Tom Coburn’s $9 trillion debt plan (Twice the scale of Paul Ryan's plan)

    07/18/2011 8:46:26 AM PDT · by SeekAndFind · 39 replies
    Hotair ^ | 07/18/2011 | Ed Morrisey
    Late last week, it looked like Tom Coburn might rejoin the Gang of Six in the Senate, which restarted their efforts to find a compromise on the budget as the debt-ceiling limit debate rages. Today, however, Coburn will become a Gang of One by releasing his own plan to reduce the deficit by twice the amount of the Paul Ryan plan. Unlike Ryan, Coburn plans on increasing federal revenues, but through reform of the tax code: Sen. Tom Coburn (R-Okla.) said Sunday the federal government can save $1 trillion though tax reform, a proposal that will put him at odds...
  • Freep a Poll! (Ohio. Toledo Blade. End tax breaks for big business as part of budget deal?)

    06/30/2011 5:32:51 AM PDT · by dynachrome · 5 replies
    www.toledoblade.com ^ | 6-30-11 | Toledo Blade
    Q Should Republicans agree to end tax breaks for big business to avert a U.S. debt crisis? -------------------------------------------------------------------------------- A Yes, President Obama is right on this Maybe, some compromise is needed No, Democrats should cut more spending
  • Cutting the Federal Budget. Impossible, No. Difficult, Yes. Here's a Roadmap.

    04/26/2011 5:48:48 AM PDT · by SeekAndFind · 2 replies
    American Thinker ^ | 04/26/2011 | Greg Richards
    Hauser's Law tells us that whatever the tax structure, the federal government can't collect more than 19% of GDP in taxes on a sustained basis -- meaning that either taxpayers will find loopholes to avoid taxes or that the disincentives of higher tax rates will result in lower tax payments and/or lower overall economic growth.Estimated spending for fiscal year 2011 looks like this: Federal expenditures 2011($ billions - numbers rounded to the nearest $25 billion)        % of GDP Social Security $  750  billion 5.0% Medicare $  750  billion 3.3% Medicaid $  400  billion 2.6% Unemployment $  625  billion   4.1%  Defense...
  • Budgeting is not rocket science

    04/19/2011 4:39:49 PM PDT · by libertycause13 · 2 replies · 1+ views
    Freedom Politics ^ | 4/17/11 | Thomas J. Lucente Jr.
    The politicians in Washington make little sense and Democratic politicians make even less sense. Budgeting is not rocket science. So listen up, Washington. You have a certain amount of revenue. That is all you can spend. If your solution to the problem is simply to increase revenue by raising taxes, you failed in your job. If you think any program you have is too important to face budget cuts, you failed in your job. Don’t talk to me about health care reform, just do your job and balance the budget. Don’t talk to me about fighting senseless wars in far-flung...
  • $38 Billion In Cuts? Make That $353 Million

    04/13/2011 2:46:41 PM PDT · by Praxeologue · 18 replies
    Zero Hedge ^ | April 13, 2011 | Tyler Durden,NdP
    Yesterday the media had a field day when it was uncovered that the hard fought $38 billion in budget "cuts" which almost caused America to shut down were in reality $14 billion. We, thus, can't wait to find out what the response will be when it is uncovered that the actual cuts were... $353 million. Yes: the ongoing functioning of the government was a pawn in a soap opera whose benefit to the US debt is $353 million, or about what Goldman's trading desk makes in less than one day. From Washington Post [1]: A new budget estimate released Wednesday...
  • Adult supervision for federal budget

    04/06/2011 7:26:07 PM PDT · by libertycause13 · 3 replies
    Orange County Register ^ | 4/6/2011 | Editorial
    It isn't likely to pass the Democratic-controlled Senate, but the GOP's proposed spending plan for next year and the next decade is one of the most encouraging signs out of Washington since the Reagan revolution. Rep. Paul Ryan, R-Wis., got everyone's attention Tuesday when he unveiled a GOP proposal to reduce federal spending by $6.2 trillion less than the president proposes over the next decade, substantially pay down, rather than increase, the national debt and dramatically revamp social programs that consume 60 percent of the budget. Mr. Ryan called it a "defining moment." If adopted, it would be. But it's...
  • Bill Gross calls U.S. budget a Greek tragedy (worse than Greece)

    03/31/2011 6:42:25 AM PDT · by dennisw · 9 replies
    fortune ^ | March 31, 2011 5:40 am | Colin Barr
    Gross runs Pimco, the $1.2 trillion investment manager that has spent recent months selling Treasury bonds, citing their low yields and poor prospects. He explains in his monthly investment outlook posted Wednesday evening that U.S. government bonds "have little value" in a world of bloated budgets. While outstanding federal debt totals $9.1 trillion, he estimates the government's actual liability at $75 trillion, counting promises made under Medicare, Medicaid and Social Security. "The incredible reality is that the $9.1 trillion federal debt that constitutes the next-to-tiniest ball in our chart is nothing compared to unfunded Medicaid and Medicare. It is like...
  • Budget Negotiators Reach Tentative Deal To Avert Government Shutdown (cutting $33 Bill only)

    03/30/2011 3:30:57 PM PDT · by The Magical Mischief Tour · 41 replies
    ABC News ^ | 03/29/2011 | ABC
    Sources tell me that budget negotiators on Capitol Hill have tentatively agreed on a deal that would involve at least $33 billion in spending cuts from this year’s budget. That’s $23 billion dollars more than Democrats have previously agreed to in short-term continuingresolutions, and $28 billion less than Republicans previously passed in the House.
  • Democrats a Roadblock to Fiscal Responsibility

    03/21/2011 1:26:30 PM PDT · by libertycause13 · 6 replies
    Freedom Politics ^ | 3/20/2011 | Thomas J. Lucente Jr.
    Passing the federal budget is perhaps the most important task the Congress has each year. It has failed miserably. The federal fiscal year begins Oct. 1. Theoretically, a budget should be signed into law no later than Sept. 30. Here it is March and still no budget. The Congress just passed its sixth continuing resolution, this time to keep the government operating through April 8. This is inexcusable. President Barack Obama submitted his 2011 budget proposal in February 2010. That gave the Democratic Congress nearly eight months to debate and pass the budget. Yet, even with a Democratic Congress and...
  • February federal budget deficit sets record (largest one-month increase in history)

    03/10/2011 11:15:50 AM PST · by library user · 24 replies
    AP ^ | March 10, 2011 | by Martin Crutsinger
    ** EXCERPT ** WASHINGTON (AP) -- The federal government's budget deficit grew by $222.5 billion in February, the largest one-month increase in history. Economists are forecasting the deficit for the year will be the biggest imbalance on record. The Treasury Department says the February deficit surpassed the old record for any month, a $220.9 billion imbalance set in February 2010. Through the first five months of this budget year, which began Oct. 1, the deficit totals $641.3 billion, 1.6 percent below the pace set last year.
  • On Rick Santelli's "Meet The Press" Appearance, A $113 Trillion Future Rounding Error

    02/21/2011 8:44:34 AM PST · by Whenifhow · 6 replies
    http://www.zerohedge.com ^ | 2-20-11 | Tyler Durden
    Today, appearing on Meet The Press, in addition to Susan Rice, Dick Durbin, Lindsey Graham, Jennifer Granholm, Harold Ford, and Ed Gillespie was CNBC's uber contrarian voice, Rick Santelli. The topic: reigning in government spending, a topic which will be with America until its last bond issuance, sometime in the next 5 years. And while Rick was quite subdued this time around (it seems the CBOT voice only sees red when confronted with the likes of Steve Liesman), he did compare the crisis facing America now to the events from 9/11... "I think this is an issue that needs to...
  • Obama’s Spending Spree: By the Numbers

    02/14/2011 5:06:24 PM PST · by Nachum · 2 replies
    National Review Online ^ | 2/14/11 | Andrew Stiles
    Here is President Obama’s budget for fiscal year 2012 (and outlook through 2021). And here is a look at some of the numbers that stand out: $3.73 trillion — total spending this year (25 percent of GDP). $46 trillion — total spending over the next decade. $8.7 trillion — total new spending over the same period. $26.3 trillion — Total new debt, including entitlement obligations, predicted by 2021. $7.2 trillion — Total deficit predicted by the end of the decade.
  • Obama's 2012 Budget Proposal: How 3.7 Trillion is Spent [interesting interactive graph]

    02/14/2011 4:39:38 PM PST · by VictoryGal · 4 replies
    NYT ^ | Feb 14 2011
    Rectangles are sized according to the proposed spending. Color shows severity of cut or increase from 2010.
  • Obama sends Congress $3.73 trillion budget

    02/14/2011 10:06:24 AM PST · by NormsRevenge · 79 replies
    Yahoo ^ | 2/14/11 | Martin Crutsinger - ap
    WASHINGTON – President Barack Obama sent Congress a $3.73 trillion budget Monday that holds out the prospect of eventually bringing deficits under control through spending cuts and tax increases. But the fiscal blueprint largely ignores his own deficit commission's view that the nation is imperiled unless huge entitlement programs like Social Security and Medicare are slashed. Obama called his new budget one of "tough choices and sacrifices," but most of those cuts would be held off until after the end of his first term. Overall, Obama proposed trimming the deficits by $1.1 trillion over a decade. The administration is projecting...
  • Boehner warns: 'We're broke' as Obama plans to increase speed of spending cuts to $1.1trillion

    02/13/2011 8:26:04 PM PST · by Ernest_at_the_Beach · 17 replies
    Daily Mail ^ | 10:39 PM on 13th February 2011 | By Daily Mail Reporter
    John Boehner has condemned President Obama’s new plans to slash the budget deficit by $1.1trillion over the next ten years, calling the country ‘broke’ and saying the cuts don’t go far enough.The House of Representatives Speaker warned: ‘Everything is on the table. We’re broke. Let’s be honest with ourselves.’His damning assessment comes as White House budget director Jack Lew said the cuts will put the government on track to halve the budget deficit by the end of Obama's first term in office in 2012.
  • OK Democrats, Balance the Budget Your Way

    01/28/2011 6:07:58 AM PST · by RadiationRomeo · 6 replies
    I would like to put that question to the liberals as an academic exercise. Come up with 1.5 trillion in budget cuts. Give us your dream cuts. Take out the entire defense budget of 600B. Give me another 900B. Where is it coming from? I put on my liberal hat (it hurt) and couldn't come up with enough cuts. Is it possible for them? Is there enough 'evil conservative' spending out there?
  • Getting the Deficit to $0.00

    01/08/2011 12:59:34 AM PST · by MontaniSemperLiberi · 16 replies
    www.fms.treas.gov ^ | 1/8/11 | vanity
    As part of an effort to figure out what the Republican House SHOULD be doing now, I’ve looked up our current budget (or at least the one that was proposed) and figured out what could be eliminated to get the deficit down to $0. Here is our revenue Budget Estimates Classification Full Fiscal Year Budget Receipts 1,031,926 Individual Income Taxes Corporation Income Taxes 280,396 Social Insurance and Retirement Receipts: Employment and General Retirement (Off-Budget) 661,919 Employment and General Retirement (On-Budget) 195,771 Unemployment Insurance 54,422 Other Retirement 4,276 Excise Taxes 75,799 Estate and Gift Taxes 25,076 Customs Duties 26,632 Miscellaneous Receipts...
  • Bachmann says she's found $450 billion in budget cuts

    01/07/2011 5:06:31 PM PST · by pissant · 34 replies
    The Hill ^ | 1/7/11 | Vicki Neddham
    As House Republicans seek upwards of $100 billion in spending cuts, Rep. Michele Bachmann (R-Minn.) said As House Republicans seek upwards of $100 billion in spending cuts, Rep. Michele Bachmann (R-Minn.) said Friday that her staff has found about $450 billion to slash from the federal budget — about half of all discretionary spending. "My staff and I sat down, we've looked at the federal budget, and just our first swipe across the budget, so to speak, we've come up with about $450 billion worth of cuts,” she said on ABC’s "Top Line." She didn't outline specific cuts but said...
  • The Four Questions Every Liberal Must Be Asked

    12/29/2010 3:32:59 AM PST · by Scanian · 60 replies · 9+ views
    The American Thinker ^ | December 29, 2010 | Tony Kondaks
    Ever notice how liberals like to spend money...particularly other people's money? If you've ever found yourself engaged in debate with a liberal in an attempt to convince him that government spending is out of control you know it's often an exercise in frustration. This is especially true when your liberal invokes his holier-than-thou conviction that the supposed good he is intent on imposing upon the world - both domestically and internationally - must trump any financial considerations you may introduce into the debate. Well, fret no more. Here's a surefire formula to stop any liberal dead in his tracks: a...
  • Budget Puzzle: You Fix the Budget

    11/14/2010 10:36:54 AM PST · by worst-case scenario · 69 replies
    New York Times ^ | Nov. 14 2010 | SHAN CARTER, MATTHEW ERICSON, DAVID LEONHARDT, BILL MARSH and KEVIN QUEALY
    Budget Puzzle: You Fix the Budget Today, you’re in charge of the nation’s finances. Some of your options have more short-term savings and some have more long-term savings. When you have closed the budget gaps for both 2015 and 2030, you are done. Make your own plan, then share it online.
  • U.S. Air Force Considers B-1 Bomber Fleet's Retirement

    06/28/2010 11:56:33 AM PDT · by Enchante · 50 replies · 2+ views
    TIME via YahooNews ^ | 06/28/10 | Mark Thompson
    ....the Air Force is thinking of retiring its total 66-plane B-1 fleet to hit budget targets set by Defense Secretary Robert Gates. Top Air Force officials met behind closed doors late last week to determine if permanently grounding the B-1 fleet makes sense....
  • Fannie and Freddie: still bleeding your $$

    06/23/2010 3:14:43 AM PDT · by Scanian · 6 replies
    NY Post ^ | June 22, 2010 | SCOTT GARRETT
    Contrary to what the Obama administration would have you believe, the biggest recipients of taxpayer funds during the financial crisis have not been Wall Street banks -- but the toxic twins, mortgage behemoths Fannie Mae and Freddie Mac. And the House and Senate are now finalizing legislation to reform the financial sector -- yet the bill will leave the biggest bailout recipients untouched. In fact, Fannie and Freddie are guaranteed to continue siphoning money from American taxpayers. That's right: The Democratic majority in Congress has made no attempt to reform these two entities, which have already cost us $145 billion....
  • Barack Obama’s Bogus Budget Cuts

    06/18/2010 9:22:29 AM PDT · by NetRight Nation · 3 replies · 133+ views
    NetRight Daily ^ | June 17, 2010 | Howard Rich
    In its latest attempt to mitigate public outrage over out-of-control government growth, the administration of President Barack Obama has instructed a handful of federal agencies to cut their budgets by five percent. That’s right — after trillions of dollars in deficit spending, several multi-billion dollar bailouts and a costly socialized medicine proposal, Obama now believes he can cast himself in the role of “cost-cutter.” How convenient. Five months before an election that could dramatically alter the balance of power in Washington, D.C., Obama and his congressional allies apparently think they can change public opinion by handing a few pennies back...
  • US More Bankrupt Than Ever - $83 Billion April Deficit Is Record For The Month...

    05/12/2010 12:02:46 PM PDT · by Zeddicus · 20 replies · 544+ views
    Zero Hedge ^ | 05/12/2010 | Tyler Durden
    Well, if nothing else, we now know officially just how great those tax receipts were, and yes. We were right. April's tax deficit of $83 billion was the highest April deficit on record. America is now more bankrupt than ever. Income was $245.3 billion, 8% below the total recorded last April. Spending was $328.0 billion, up 14% year-over-year. A year ago in April the deficit was $20.9 billion. And here is the data: tax receipts down 7.9% YoY, Individual Income Tax down 21.5% YoY, and more importantly, spending: Total spending up 14.2%, National defense up 17%, Medicare up 39.4%, Social...
  • Record Deficit For An April

    05/12/2010 11:47:34 AM PDT · by Zeddicus · 13 replies · 933+ views
    The Market Ticker ^ | 05/12/2010 | Karl Denninger
    You have to love it.... U.S. posts record $82.69 billion deficit in April, 19th straight month of budget shortfalls - Reuters Nonsense. Here's the REAL table of numbers from Treasury itself, including the theft from the FICA and Medicare accounts: (click for the larger copy) If I did accounting like this I'd go to prison. $82 billion my butt. The real number is $175.6 billion, more than double the reported amount, and the cumulative year-to-date (calendar years) is $637.4 billion, or a run rate (annualized) of $1.912 trillion. If you're wondering why the "stock market" has been generally supported (even...