http://www.freerepublic.com/tag/governmentspending/ en-us Mon, 6 Jul 2009 14:57:07 GMT Focus Forum 15 http://www.freerepublic.com/focus/f-news/2286498/posts Steven MalangaThe City’s Finances: Budget-Cutting Made Simple Balancing the books doesn’t take genius, just political courage. 6 July 2009 Mayor Michael Bloomberg says that balancing New York City’s budget in tough times requires “shared sacrifice,” by which he means combined tax increases and spending cuts. Yet as is often the case in New York, the biggest sacrifice is expected of taxpayers—this time, nearly $1 billion in tax hikes on top of what is already the heaviest tax burden among major cities in the nation (see “Life in Taxopolis,” coming soon). The city’s budget-cutting, by contrast, is exceedingly modest. In... City Journal http://www.freerepublic.com/focus/f-news/2286498/posts#comment Mon, 6 Jul 2009 14:57:07 GMT http://www.freerepublic.com/focus/f-bloggers/2272851/posts Real National Debt Unmasked by: Evan Sumortin, June 16, 2009 In his first five months of office, President Obama has initiated an unprecedented spending spree. He signed a $787 billion stimulus bill into law, continued spending from the second half of the $700 billion Troubled Asset Relief Program (TARP) funds authorized by Congress during George W. Bush’s term, proposed a $3.6 trillion budget for the next fiscal year, and created other billion-dollar programs with the intent of stimulating the economy. At the weekly bloggers briefing held at the Heritage Foundation on June 9, Congressman Dan Burton (R-Indiana) spoke out against... Campus Report http://www.freerepublic.com/focus/f-bloggers/2272851/posts#comment Tue, 16 Jun 2009 17:25:30 GMT http://www.freerepublic.com/focus/f-news/2271457/posts After enjoying months of towering poll numbers, legislative victories and well-received foreign policy initiatives, the White House has become increasingly concerned that President Obama's spending plans, which would require $9 trillion in government borrowing over the next decade, could become a political liability that defines the 2010 midterm elections. The concern was reflected in the aggressive response from administration officials to criticism that money from Obama's stimulus plan is arriving too slowly to help the languishing economy, as well as in the president's public endorsement of "pay as you go" legislation, which would require Congress to make room for new... Washington Post via MSNBC http://www.freerepublic.com/focus/f-news/2271457/posts#comment Sun, 14 Jun 2009 11:48:45 GMT http://www.freerepublic.com/focus/f-news/2254081/posts The Treasury has issued an enormous volume of debt into the frightened hands of investors seeking default-free securities. This has allowed the Treasury to finance a massive and largely needless transfer of wealth to bank bondholders so easily over the short-term that the longer-term cost has been almost completely obscured. But by transferring wealth from those who did not finance reckless loans to those who did – providing monetary compensation without economic production – the bureaucrats at the Treasury and Federal Reserve have crowded out more than a trillion dollars of gross investment that would have otherwise have been made... Seeking Alpha http://www.freerepublic.com/focus/f-news/2254081/posts#comment Tue, 19 May 2009 18:35:47 GMT http://www.freerepublic.com/focus/f-bloggers/2253932/posts Exhibiting a cynical disregard for the country’s dire need to cut spending, Democrats in Congress are fighting to eliminate a competitive contracting procedure known as the A-76 program. Senator Barbara Mikulski of Maryland has introduced the so-called “Clean Up Act,” which would eliminate outsourcing of government work to private contractors. Ironically, her bill calls for federal agencies to determine if they face looming employee shortages. According to her press release “It is estimated that 600,000 federal jobs – close to one-third of the government – will need to be filled in the next four years.” FoxNews.com http://www.freerepublic.com/focus/f-bloggers/2253932/posts#comment Tue, 19 May 2009 15:19:58 GMT http://www.freerepublic.com/focus/f-bloggers/2250741/posts Remember that woman at one of Obama's rallies saying Obama was going to pay her mortgage and fill her gas tank? No, he won't. Remember that woman who beseeched Obama to give her a kitchen? After a momentary freebie, she's still on the down and outs, too. "Little people" believe Obama is the ticket to "finally getting their slice of the pie." But that is only because they are naive and frankly ignorant. The reality is that Obama will take from the haves and piss it away rather than perform the usual Robin Hood function. Just like all the liberals... Start Thinking Right http://www.freerepublic.com/focus/f-bloggers/2250741/posts#comment Thu, 14 May 2009 13:37:42 GMT http://www.freerepublic.com/focus/f-bloggers/2249268/posts There is a cleverly constructed sentence in the AP report about the 2009 budget deficit being $89 billion higher than expected, which will raise the projected annual deficit to $1.8 trillion, or nearly four times as much as the previous record. Here’s how AP explained it: “The unprecedented red ink flows from the deep recession, the Wall Street bailout, the cost of President Barack Obama's economic stimulus bill, as well as a structural imbalance between what the government spends and what it takes in (emphasis added).” In sports journalism, such a sentence is called covering for the home team, which... NetRight Nation http://www.freerepublic.com/focus/f-bloggers/2249268/posts#comment Tue, 12 May 2009 15:22:40 GMT http://www.freerepublic.com/focus/f-bloggers/2248767/posts The grass-roots "tea party" movement that swept across the country April 15 to protest federal tax and spending hikes will hold demonstrations in Washington and elsewhere this summer and fall when Congress will be battling over President Obama's biggest budget proposals. Leaders of the Tax Day rallies that drew an estimated 600,000 people in nearly 600 cities and towns say the seemingly spontaneous local protests have grown into a more muscular movement concerned that the escalating growth and cost of government threatens to undermine economic freedom. NetRight Nation http://www.freerepublic.com/focus/f-bloggers/2248767/posts#comment Mon, 11 May 2009 20:53:46 GMT http://www.freerepublic.com/focus/f-bloggers/2244642/posts I find that picturing Obama as the glutenous rat from Charlotte's Web makes it easier to get through the day. If associating Clifton's smorgasbord of carnival snacks with Obama's wasteful binge spending doesn't cause you to at least crack a smile, check your freaking pulse. (VIDEO AT LINKED LOCATION) http://conservativebrawler.blogspot.com/2009/05/envision-obama-as-templeton-and-fair.html Conservative Brawler http://www.freerepublic.com/focus/f-bloggers/2244642/posts#comment Tue, 5 May 2009 17:29:57 GMT http://www.freerepublic.com/focus/f-bloggers/2240689/posts We are beginning to learn that $12.8 trillion doesn't last very long when it is being spent by corrupt politicians and idiot bureaucrats. It doesn't seem to matter how much Obama has already spent or committed; he just has to keep spending more and more and more. WASHINGTON – The Treasury Department said Monday it will need to borrow $361 billion in the current April-June quarter, a record amount for that period. It's the third straight quarter the government's borrowing needs have set records for those periods. Treasury also estimated it will need to borrow $515 billion in the July-September... Start Thinking Right http://www.freerepublic.com/focus/f-bloggers/2240689/posts#comment Wed, 29 Apr 2009 20:51:11 GMT http://www.freerepublic.com/focus/f-news/2227952/posts Wasteful government spending, especially the monetary effluvia being doled out in several economic bailout bills, is the target of a rally planned Wednesday along Veterans Memorial Boulevard in Metairie. Organized by a Harvey orthodontist, the "tax day tea party" is a protest against the money being pumped into Wall Street's anemic institutions. "It's not enough to sit at home and scream at the television," said organizer Glenn Dubroc Jr., "It was time to get up and do something." The (New Orleans) Times-Picayune http://www.freerepublic.com/focus/f-news/2227952/posts#comment Mon, 13 Apr 2009 13:27:49 GMT http://www.freerepublic.com/focus/f-bloggers/2219539/posts When you see a car hurtling off a cliff, you can safely say the driver probably went the wrong way. According to the CBO, we are stomping on the accelerator while headed right off a cliff. Deficit Projected To Swell Beyond Earlier Estimates CBO Expects Trillions More in BorrowingBy Lori Montgomery Washington Post Staff Writer Saturday, March 21, 2009; A01 President Obama's ambitious plans to cut middle-class taxes, overhaul health care and expand access to college would require massive borrowing over the next decade, leaving the nation mired far deeper in debt than the White House previously estimated, congressional budget... Start Thinking Right http://www.freerepublic.com/focus/f-bloggers/2219539/posts#comment Wed, 1 Apr 2009 04:13:07 GMT http://www.freerepublic.com/focus/f-news/2216739/posts Republicans say the path to prosperity is not the excessive spending proposed by President Barack Obama but limited spending that holds down the growth of government, taxes and debt. ''We believe you create prosperity by having an affordable government that pursues its responsibilities without excessive costs, taxes or debt,'' Sen. Judd Gregg said Saturday in the GOP radio and Internet address. Gregg, who was offered the job of Obama's commerce secretary but withdrew his name, has become one of the toughest critics of Obama's handling of the economy. ''In the next five years, President Obama's budget will double the national... Associated Press http://www.freerepublic.com/focus/f-news/2216739/posts#comment Sat, 28 Mar 2009 10:42:57 GMT http://www.freerepublic.com/focus/f-bloggers/2214640/posts When the European Union begins to lecture you on your fiscal polices and criticize your theories. The president of the European Union on Wednesday slammed U.S. plans to spend its way out of recession as “a road to hell.” Czech Prime Minister Mirek Topolanek, whose country currently holds the rotating EU presidency, told the European Parliament that President Barack Obama’s massive stimulus package and banking bailout “will undermine the liquidity of the global financial market.” A day after his government collapsed because of a parliamentary vote of no-confidence, Topolanek took the EU presidency on a collision course with Washington over... The Western Experience http://www.freerepublic.com/focus/f-bloggers/2214640/posts#comment Wed, 25 Mar 2009 21:01:56 GMT http://www.freerepublic.com/focus/f-bloggers/2210290/posts It's already become very hard to keep up with the spending, less than 2 months into the Obama administration - and there's a long way to go. According to the Congressional Budget Office, the REAL cost of the $787 billion porkulus plan will be $3.27 trillion. Newsmax reported that: The gargantuan stimulus bill Congress has rubber-stamped with virtually no Republican support contains tens of billions of the very spending projects that made the legislation a lightning rod for criticism. And although the bill is generally described as costing $787 billion, the Congressional Budget Office reports the actual figure is now... Start Thinking Right http://www.freerepublic.com/focus/f-bloggers/2210290/posts#comment Thu, 19 Mar 2009 23:12:57 GMT http://www.freerepublic.com/focus/f-news/2204349/posts H.R.1105 Omnibus Appropriations Act, 2009 (Introduced in House) Library of Congress http://www.freerepublic.com/focus/f-news/2204349/posts#comment Wed, 11 Mar 2009 17:42:02 GMT http://www.freerepublic.com/focus/f-news/2193997/posts WASHINGTON – President Barack Obama wants a significant "down payment" for overhauling the health care system: $634 billion over 10 years. A senior administration official says Obama's budget calls for financing the overhaul by trimming Medicare spending and limiting tax deductions for upper-income earners. The official spoke on condition of anonymity because the budget won't be released until Thursday. About 48 million Americans are uninsured, according to recent estimates. The cost of guaranteeing coverage for all could easily exceed $1 trillion over 10 years. Obama has asked Congress for health reform this year, but senior members of both political parties... Associated Press http://www.freerepublic.com/focus/f-news/2193997/posts#comment Wed, 25 Feb 2009 21:54:08 GMT http://www.freerepublic.com/focus/f-bloggers/2189464/posts We've been hearing different pieces of the Democrats' philosophy on economics. From President Barack Obama: So then you get the argument [from Republicans], well, this is not a stimulus bill, this is a spending bill. What do you think a stimulus is? (Laughter and applause.) That’s the whole point. No, seriously. (Laughter.) That’s the point. (Applause.) Then, a statement from the third-in-line to the presidency, Speaker of the House Nancy Pelosi: Speaker of the House Nancy Pelosi boldly defended a move to add birth control funding to the new economic "stimulus" package, claiming "contraception will reduce costs to the states... Start Thinking Right http://www.freerepublic.com/focus/f-bloggers/2189464/posts#comment Thu, 19 Feb 2009 22:02:45 GMT http://www.freerepublic.com/focus/f-bloggers/2178341/posts So figure this one out. Recently the Obama administration has put pressure on private companies to curtail lavish spending due to the economic crisis, and because some of those companies were receiving federal bailout funds. For example, Wells Fargo was pressured into canceling a planned trip to Las Vegas for their mortgage employees that performed well last year. They have also pressured companies into not buying new planes, paying bonuses to management, canceling employee retreats, etc. Then today Obama announced that those banks that have taken Federal bailout dollars had to put a salary cap in place for their CEO’s,... Notoriously Conservative.com http://www.freerepublic.com/focus/f-bloggers/2178341/posts#comment Wed, 4 Feb 2009 19:13:42 GMT http://www.freerepublic.com/focus/f-news/2171403/posts When it comes to selling his policies, foreign or domestic, it looks like Pres. Obama will be able to count on a helping hand from ABC. Yesterday we noted how, now that the problem has landed in Pres. Obama’s lap, ABC suddenly discovered that closing Gitmo isn’t as easy as it had been cracked up to be. Today, the economy was the focus. Pres. Obama is proposing a massive government program. And . . . what a coincidence! The network whose Sunday talk show host shed tears of joy during the inauguration just happens to declare that the only way... FinkelBlog http://www.freerepublic.com/focus/f-news/2171403/posts#comment Sun, 25 Jan 2009 17:11:03 GMT http://www.freerepublic.com/focus/f-bloggers/2165555/posts I'm not making these numbers up. Here's what your government is going to spend your $825 billion on. Ask yourself. What on this list will benefit you, the taxpayer? And remember, you and your children will be paying for this until death. Email this to everyone you know. This will get their blood boiling. -$6 billion to weatherize "modest income homes." -$6 billion to provide internet in "underserved" areas -$6 billion for "higher education modernization." -$20 billion in health information technology to "prevent medial mistakes." -$20 billion to increase food stamp funding -$87 billion to provide a "temporary" increase in... The Big Feed http://www.freerepublic.com/focus/f-bloggers/2165555/posts#comment Fri, 16 Jan 2009 04:44:04 GMT http://www.freerepublic.com/focus/f-bloggers/2158166/posts .....American mayors are wondering how much money President-elect Barack Obama and a Democratic Congress will take from taxpayers to hand over to them. "We're not intending to spend money lightly," Obama has stated, No,he intends to spend it heavily. ...The U.S. Conference of Mayors published a 1,557-page report of 15,221 "infrastructure projects" for 641 cities say they have "ready to go" as soon as Obama and Congress can send them the cash. ...A few examples: City of North Miami, Fla., proposes to "establish a 'change a light bulb' program for all income-eligible households and change out all incandescent bulbs to... Human Events http://www.freerepublic.com/focus/f-bloggers/2158166/posts#comment Sat, 3 Jan 2009 19:11:54 GMT http://www.freerepublic.com/focus/f-news/2153835/posts Economic development in Iraq in 2008 has been "encouraging" according to a review of the country's economy by the International Monetary Fund (IMF). Improved security and a more stable political environment mean economic activity has "picked up" on the back of increased oil production and exports. IMF deputy managing director Takatoshi Kato said the authorities had kept the economic programme "on track". Oil revenue in 2009 would be much lower than in 2008, he added. To compensate, the Iraqi government has already prepared measures to reduce spending next year. BBC news http://www.freerepublic.com/focus/f-news/2153835/posts#comment Wed, 24 Dec 2008 17:46:25 GMT http://www.freerepublic.com/focus/f-news/2145771/posts We are beyond the extremes of the 1930s. The frontiers of monetary policy are being pushed to limits that may now test viability of paper currencies and modern central banking. You cannot drop below zero. So what next if the credit markets refuse to thaw? Yes, Japan visited and survived this policy Hell during its lost decade, but that was a local affair in an otherwise booming global economy. It tells us nothing. This time we are all going down together. There is no deus ex machina to lift us out. Certainly not China, which is the most vulnerable of... the Telegraph http://www.freerepublic.com/focus/f-news/2145771/posts#comment Tue, 9 Dec 2008 23:00:50 GMT http://www.freerepublic.com/focus/f-news/2136539/posts Whenever the economy stumbles, politicians and interest groups commonly argue that government spending should be increased. Based on a theory known as Keynesianism, this increase is supposed to boost economic performance. Yet the notion that bigger government leads to more growth is both theoretically unsound and empirically false. This strange theory was first put forth back during the 1930s, when America was suffering from a deep downturn. An economist named John Maynard Keynes argued that the economy could be boosted if the government borrowed money and spent it. According to this Keynesian approach, this new spending would put money in... Pajamas Media http://www.freerepublic.com/focus/f-news/2136539/posts#comment Sat, 22 Nov 2008 16:58:05 GMT