WH submits budget with 1.3 Trillion deficit

militaryhorn

militaryhorn

Prediction Contest Manager
This is for the current FY. Someone in Washington hasn't been paying attention to what most people want as far as the budget is concerned. I think most Dems and Pubs voters want some form of reduction in spending but with the current atmosphere in D.C. this clearly isn't going to happen. The reason for this is that both sides agree that cuts need to be made but are not willing to sacrifice their portion to do it and the Pubs don't want to raise taxes. I am willing to start paying the taxes that are already coming out of my paycheck, instead of getting it back plus all the credits I get. That is a personal choice that each one of us needs to seriously consider. I am ready to raise taxes and cut spending, as simple as it sounds, this is the only solution to the problem.

I would like sweeping change in both parties. I am sure there are some Dems that want to cut spending and the Pubs say they want it; actions haven't shown that they want to practice it.

I am losing total faith in American politicians. I feel that no matter who I vote for this year, whether that is another vote for Obama or I switch to the Pub candidate, will make any difference.
frown.gif


FY 2012 Budget Submission
 
deficit could be smaller but it is smaller than what it has been the last couple of years. Appears to be going in the right directions. I like the Buffet rule. I like that the deficit as mentioned in the article will be 900 Billion.

Agree that we can do better. They need to simply say we are going to have a balanced budget in 4 or 6 years. And then phase in the spending cuts and tax increases to get there. Say decrease spending by 200 Billion per year.
 
BO and his admin isn't interested in fiscal responsibility. He just interested in buying the votes of the ignorant who think they are getting things (such as health care) for nothing.
 
Ron Paul. Ron Paul. Ron Paul......

He will cut the waste. More and more people are starting to listen to him. There is no magic bullet. We are broke, in debt, and Mitt Romney is talking about making the military even stronger. With what? More fake money? Newt actually sometimes talks like he will do what Paul says, but all three of Mitt, Newt and Santorum are war hawks. We are broke.

Ron Paul will fight for the REAL cuts that need to be made, even if congress and the senate wont do it. Paul will fight for it.

Will it suck, yes. But the US is in dire straights...... Something has to be cut, and in a big way, and the axe shouldnt fall on the taxpayers by more printing of money. That only hurts the taxpayers more, and protects the banks and CEOs more.
 
The economy is improving as is the employment picture.....the Keynsians in DC need to start tapping the brakes on spending. Or was all their talk about the need for fiscal stimulus just a bunch of hot air?
 
So the deficit for 2018.... 6 years from now...... would only be 585 billion. Does that mean that each year we will still be in a deficit but the deficit will gradually shrink? I dont see how that is a solution. All 6 years we will still be in a deficit and adding to it each year, just adding less than the year before, but still adding to it nonetheless....

Who will be in office in 2018? What other changes between now and then will take place? What kind of promise is this?
 
so basically they are saying our debt will be close to 20 trillion by the time the deficit drops to 500 billion per year? i hate to break it to yall, but when the deficit reaches over 100% of total gdp, bad things will start to happen. we are laready screwed. our unfunded oblogations are over 60 trillion. we are screwed.
 
FYI, with this budget, in 2016, our debt would equal GDP. This means that we would have problems in 4 years. We aren't even talking about what we are leaving our kids. We are talking about us: All of us would feel the pain in short order. The bottom line is that we need real cuts in spending. And those cuts need to happen now. We cannot just kick the can to the next set of elected officials.
 
We basically need to burn Washington DC to the ground and hang every member of congress and the administration from the tallest trees around for treason. I think we should also go find every member of congress for the last 30 years and add them to the list of the treasonous.
 
the man makes gwb look like a penny pincher. what an effin loser. "going to cut the deficit in half during my first term". fvck you barack. just leave.
 
Don't be so gullible hormpharmd, spending will not go down under the scenario you lay out above. It simply will-not-happen under this president.
 
If you are concerned about a sensible budget and getting federal spending under control, check out Glenn Addison. He is running for Kay Bailey's Senate seat.

glennaddison.com
 
spending cant go down with the way entitlements are structured and with the new healthcare bill, the debt will go up even faster. if we cut out fraud within the system of medicare and medicaid, that could help, but our officials wont even takle that. instead, they fight over including more entitlements to spending bills on things we should pay for ourselves. the system is corrupt. i know people that have sat before prior presidents to discuss these and other problems regarding everything for energy to education. The politicians will not do anything. their interest while in office is to make the small vocal and special interest groups happy. they know that they will be out of office and it will be someone else's problem. this is a fact and obama is the same way no matter how much some of you worship him. the same thing was the case with bush.
 
We are stuck in a cycle of promising things to the lowest common denominator based on a socioeconomic class or common interest group.

We have not asked our populace to be educated voters and those who are in high power don't want it that way. The voters line up in a line with their hands held out while corporate executives and politicians give them some crumbs, pat them on the head and tell them what button to push at the polls.
 
Are you talking about what you are seeing with the GOP primary right now? Because that sounds about right with all the moon station talk and what not that we have heard thus far.
 
The "moon station" comment has provided 6 straight losses so far. Some folks are paying attention, most aren't though. Barry will probably be reelected. I'd say watch what is happening in Greece because that could be our future.
 
We will be just like Japan and wallow in debt for years with little or no economic growth, if we don't do something drastic in cutting spending.

From Zerohedge
The Link

"While Obama may or may not be on the way to winning his reelection, courtesy of a GOP field that is, to say the least, limited, and where the only worthy candidate is more ostracized by the right than even anyone on the left, the bottom line is that whoever wins the presidency, it will matter precisely didley squat. As the US debt clock shows, fast forwarding 4 years, or to February 2016, when the next presidential race will be in its final stretch, America will have $24.1 trillion in debt, about $9 trillion more than it does, now on $17.4 trillion in GDP, for a gross debt to GDP ratio of 138.9% (and Apple's $1 trillion market cap will account for 150% of the Nasdaq... just as IBM is 125% of the DJIA). Needless to say, it will be long past game over at that point confirming that the current presidential race, with its exciting tangential detours into female fertility, moon bases, LBO IRR maximization courtesy of cost-cutting, is completely and utterly meaningless. Also, keep in mind, "at current rates" for an endspiel that has now entered the exponential phase in virtually every category, is to say the least, optimistic. Yes, interest rates may be negative in 2016, but that means that the liquidity trap endgame has not only begun, but is well on its way to ending, and mercifully putting an end to this whole Keynesian "sustainability" charade. Remember: Japan's debt-deflation lasted for 30 years only thanks to new pockets of incremental global leverage and inflation: China and the PIIGS. This time, absent the levering of the entire continent of Africa, there is noone who can take the releverage baton and run. Which means the only "buyers" will be the central banks. At least back in the day, Weimar just one nation. This time, it will be the "Weimar World."
 
I've said it before and I'll say it again.....

Show me real cuts in spending, not reductions in the rate of spending growth, and I'll start listening to proposals to increase taxes.

Don't tax me more so you can spend more.
 
I was referencing the violent protesting in Greece over budget cuts. See Wisconsin for a picture of how union folks react to budget cuts. Then, turn up the heat about ten times.
 
Wisconsin is trying to recall their governor because he's trying to fix their financial situation. Sadly, this is how we react to problem solving.
 
You must log in or register to reply here.

NEW: Pro Sports Forums

Cowboys, Texans, Rangers, Astros, Mavs, Rockets, etc. Pro Longhorns. The Chiefs and that Swift gal. This is the place.

Pro Sports Forums

Recent Threads

Back
Top