"It's Rahm, Mr Obama. You did just like he taught you....'invest' not tax/spend."
"Rahm says we got the taxpaying suckers brainwashed but good. "
"They won't know what hit 'em til it's too late, when we got all the money."
Posted on 03/25/2009 4:06:56 AM PDT by Cindy
"Obama Used 'Invest' or 'Investment' 18 Times in Press Conference to Describe Government Deficit Spending"
SNIPPET: "“CBO has also analyzed the policy proposals outlined in the President’s preliminary budget request,” said CBO’s report. “Under those policies, the deficit would total $1.8 trillion (13.1 percent of GDP) in 2009 and $1.4 trillion (9.6 percent of GDP) in 2010. The cumulative deficit over the 2010–2019 projection period would equal $9.3 trillion and would average 5.3 percent of GDP. Debt held by the public would rise from 57 percent of GDP in 2009 to 82 percent of GDP in 2019.”
The CBO analysis of Obama’s budget does not foresee any year in the next decade in which the government would run an actual surplus and thus be able to pay off a penny of the new debt Obama plans to incur. Each year, the national debt will grow as will the presumably permanent annual interest charges to the taxpayers.
Yet, at one point in his press conference—the fourth instance in which he used a form of the term "invest" to describe his borrow-and-spend budget plan—Obama said: “It’s the budget that leads to broad economic growth by moving from an era of borrow and spend to one where we can save and invest.”
At another point, he argued that if the government did not borrow and spend money on the “investments” he planned to make, then the U.S. economy would not grow and we would still have massive deficits.
“And so what we've said is, let's make the investments that ensure that we meet our growth targets that put us on a pathway to growth as opposed to a situation in which we're not making those investments and we still have trillion-dollar deficits,” he said.
Obama also suggested that if the government did as he planned, it would somehow simultaneously borrow and spend trillions and actually reduce the deficit by “a couple of trillion dollars.”
“And so what we're trying to emphasize is, let's make sure that we're making the investments that we need to grow to meet those growth targets, at the same time we're still reducing the deficit by a couple of trillion dollars,” he said.
This year, according to CBO, Obama will run a $1.845-trillion annual deficit. A decade from now in fiscal 2019, under the Obama plan, according to CBO, the federal government will run a $1.189-trillion annual deficit. At no time in the intervening years, according to CBO, will the annual federal budget deficit ever drop below $658 billion, which is the projected deficit for fiscal 2013."
Note: Click on the link to read the rest of the article.
didn’t watch him last nite, never will but i did listen to a few news shows afterwards and they all described it as a bore. i understand he didn’t allow questions from papers such as the ny times, ny post, wapo and a host of others but did take questions from papers such as stars and stripes and ebony..?? also i heard that he used some new type of teleprompters that weren’t as visable to the public eye since he has been taking so much flack for using them. anyone out there watch last nite that can confirm what i heard is true?
But the Federal government has such a great track record of “investing.? For example, without government “investing” you would nothave had all that Synfuel and oil from shale that you’ve been burning in your car.
There.
Their.
They’re.
Choose wisely.
I have noticed in the past that British Parliment also use the word investment instead of tax and spend.
He did! All questions approved in advance, and Obama’s answers either pre-scripted or typed out by Emmanuel on his Blackberry.
Obama is beyond parody.
Your rite.
Obummer FARTED 18 times in the wind.OMG
How many times did he use the phrase “I inherited this problem” or “this problem I inherited”?
I kinda like "steal and waste"
How about “Spend”? oe better yet, “Waste”!!!
Unless Bush spent it -- In that case it's "borrow and spend," as opposed to Obama's "invest and save." Also, Obama says he will cut "wasteful spending" (e. g. "non-necessary" items like weapons research) from the budget.
Right, but keep that critical spending like for ACORN.
"It's Rahm, Mr Obama. You did just like he taught you....'invest' not tax/spend."
"Rahm says we got the taxpaying suckers brainwashed but good. "
"They won't know what hit 'em til it's too late, when we got all the money."
We've gone from a $160 billion budget deficit for fiscal 2007 (Republican Congress), to a $455 billion budget deficit for fiscal 2008 (Democratic Congress), to a $2 trillion budget deficit (Obama and Democratic Congress).
Which reminds me. In every speech he talks about ending our dependency on “forein oil”, but he really means ending our dependency on any oil regardless of its source.
TOTUS under the cameras so he could look straight ahead instead of tennis-match head . See the photos in the post up the page.
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