Obama's $3.8 trillion budget...

[OklahomaTuba]

Awesome! Everything Goes Up...Taxes, Spending and Deficits, everything except the economy.


President Barack Obama proposed a $3.8 trillion budget for fiscal 2011 that will add fuel to the debate over the size and scope of government. The plan includes big increases in personal and business taxes, modest spending cuts and increased outlays for education, defense and jobs initiatives.

In the days leading up to Monday's release, the Obama administration has focused on proposals to cap so-called discretionary spending, roughly 17% of the total budget, as part of a plan to narrow the record $1.6 trillion gap between proposed budget outlays and tax receipts. But the budget plan calls for nearly $1 trillion in tax increases on upper-income families—largely by allowing Bush tax cuts to expire. Banks, bankers and multinational corporations would face new fees and levies. And oil companies would lose $39 billion in tax breaks.

Overall, Mr. Obama's budget plan would shrink the current deficit to $727 billion, or 4.2% of the gross domestic product, by 2013. But if annual deficits shrink, the total federal debt will keep growing. In all, the president's budget would add $8.5 trillion to the federal debt through 2020, pushing the debt as a percentage of GDP to 77% from 53%.http://online.wsj.com/article/SB10001424052748704107204575038733246595218.html?m od=WSJ_hpp_LEFTTopStories

[JLEW1818]

i thought only 5% of Americans would be taxed more?

[OklahomaTuba]

Screw that 5%, so what if they are the ones that will hire people and invest and stuff. I WANT MY GREEN JOB & MY MORTGAGE PAID OFF DAMMIT!!!!!!


Reacting to the President's Budget

Scott Hodge, president of the Tax Foundation, tells NRO: "This budget should put a stake in the heart of Keynesian economics once and for all. If government spending was the engine for economic growth, the U.S. would now be the economic wonder of the world and the president would not be tying our fortunes to a grab bag of targeted tax credits to 'create jobs.'"

"The biggest problem facing the ability of the U.S. economy to compete in the global economy is our high corporate tax rate," Hodge argues, "now second highest among industrialized countries to Japan. Rather than lower the rate, the president is proposing $209 billion in tax increases on U.S. companies trying to compete abroad. Not only is the U.S. corporate tax rate out of step with the rest of the world, but the administration is out of step with the realities of global business today."

Hodge adds: "Ironically, the president said he wants to promote more exports. What is he expecting? That U.S. companies will just make stuff here and not develop supply chains, sales offices, or marketing efforts abroad? Heaven forbid they do because they will be rewarded with higher taxes if the administration gets its way."

[RUSH LIMBAUGH is my clone!]

increased outlays for "jobs initiatives", haha. let's have a Recall Initiative, instead.

[JLEW1818]

spend spend spend

[1890MilesToNorman]

This is a crime against all Americans.

Except those who want to volunteer their hard earned money to the gubmint of course.

[Fraggle145]

yay circle jerk time!!! WOO WOO!!!

[JLEW1818]

I call Fraggle first!!

[StoopTroup]

I want a job in advertising once they legalize pot.

[Tulsa_Fireman]

I want a job pimping.

[1890MilesToNorman]

What's it gonna take to get you pizzed off? This budget is absurd!

[StoopTroup]

Dat easy...everybody think pimpin' is hard.

It's not. All you gots to do is apply yoself.

Shiiiiiiiiiiiiiiiiitttttttttttttttt!

[Tulsa_Fireman]

They say that cat Justin is a baaaaaaaaaaad mutha...

[LosAngelesSooner]

Yeah! Damn Obama...cutting taxes...increasing funding to the military...just like every other Republican President...

:D

[Howzit]

I want a job pimping.

You could work for Acorn...

[StoopTroup]

Pimpin' Squirrel....lol

[Fraggle145]

I call Fraggle first!!

Heh, the line is over there. Just bend over, I'll be with you in a minute...

NEXT!!! [hairGel]

[1890MilesToNorman]

3,800,000,000

that's a big azzed number!

[StoopTroup]

3,800,000,000

that's a big azzed number!

That's about what OV has bet on the Super Bowl I think.

[NormanPride]

3,800,000,000

that's a big azzed number!

I think you forgot a few zeros.

[Tulsa_Fireman]

http://www.fabulousinflatables.com/images/galleries/general/dancing-donkey.jpg

No, THAT'S a big ***.

[1890MilesToNorman]

I think you forgot a few zeros.

Yer right, add about 12 more 0's and we be getting close to where they want to go. :D

[1890MilesToNorman]

3,800,000,000,000

[Tulsa_Fireman]

Isn't that a brazillion?

[Veritas]

It's all Bush's fault.

[Fraggle145]

http://4.bp.blogspot.com/_a0swvUsbmrs/SoHDhBZkaII/AAAAAAAAAmI/tWMIGSQbing/s400/BigAssBugCOLOUR.jpg

[Tulsa_Fireman]

It's all Bush's fault.

Mmmmm. Bush.

[Fraggle145]

Mmmmm. Bush.

http://www.geolit.org/rushranch/RR_images/Coyote%20Bush1.jpg

[OUMallen]

It favors COAL over natural gas too. Amazing.

[tommieharris91]

3,800,000,000,000

that's a big azzed number!

Fixed.

[tommieharris91]

"This budget should put a stake in the heart of Keynesian economics once and for all. If government spending was the engine for economic growth, the U.S. would now be the economic wonder of the world and the president would not be tying our fortunes to a grab bag of targeted tax credits to 'create jobs.'"

It's all Bush's fault.

Let's not mention those defecits that Bush ran. Nope, never happened...

[Tulsa_Fireman]

If you'd quit spending all your money in pursuit of the Bush, maybe the Bush would learn to live within its means and settle for a cheeseburger and a matinee.

But NOOOOOO....

[Veritas]

Let's not mention those defecits that Bush ran. Nope, never happened...
I love that quote you used. I'd like to go back in time and beat ole John Maynard to death with a shovel.

[Fraggle145]

I love that quote you used. I'd like to go back in time and beat ole John Maynard to death with a shovel.

You named it John Maynard?! You're sick.

[tommieharris91]

I love that quote you used. I'd like to go back in time and beat ole John Maynard to death with a shovel.

Funny, I always thought Keynes basically said "Gov'ts should save during the good times and spend during the bad times."

BTW, the US is still the economic wonder.

[Crucifax Autumn]

She missed part of her mustache when she was shaving this morning.

[OklahomaTuba]

Let's not mention those defecits that Bush ran. Nope, never happened...

And lets not mention that Obama just tripled those deficits that Bush ran, in just his first year.

And will be on track to quadruple it this next year.

[OklahomaTuba]

Yeah! Damn Obama...cutting taxes..Speaking of those tax cuts...


Backdoor taxes to hit middle class

The Obama administration's plan to cut more than $1 trillion from the deficit over the next decade relies heavily on so-called backdoor tax increases that will result in a bigger tax bill for middle-class families.http://news.yahoo.com/s/nm/20100201/bs_nm/us_budget_backdoortaxes

:(

[tommieharris91]

And lets not mention that Obama just tripled those deficits that Bush ran, in just his first year.

And will be on track to quadruple it this next year.

You missed my point. W ran large deficits during good economic times. Keynes didn't advocate spending like that at all.

[tommieharris91]

That fat budget probably won't make it out of Congress anyway. (http://www.cnbc.com/id/35199770)

[OklahomaTuba]

You missed my point. W ran large deficits during good economic times. Keynes didn't advocate spending like that at all.How much was related to war spending though?

If anything, Bush didn't tax or spend nearly enough for Keynes liking.

Hell, if we had Keynes advising Bush like he advised FDR & Truman, we would probably see tax rates at 80% again, and another prolonged depression.

Is it any wonder that where ever Keynesian economics is really practiced, things go to hell?

Japan's been practicing this BS for 20+ years, and they're still in a recession, and their public debt is much worse than ours is, for now. But I'm sure Dear Leader will fix that in time...

[tommieharris91]

How much was related to war spending though?
Does it matter? Deficit spending is deficit spending. And since you're into red herrings, you weren't complaining about the deficit until Obama took office anyway.


If anything, Bush didn't tax or spend nearly enough for Keynes liking.

Hell, if we had Keynes advising Bush like he advised FDR & Truman, we would probably see tax rates at 80% again, and another prolonged depression.

Is it any wonder that where ever Keynesian economics is really practiced, things go to hell?

This is not close to true. The US came out of the Great Depression in 1939 with Keynesian policies (yes, things like Social Security have served their purpose and should simply be abolished) and after 2 failed attempts by FDR to run a surplus and keep the economy strong. It wasn't on December 9, 1941, that the US economy was jumpstarted like many here seem to believe.


Japan's been practicing this BS for 20+ years, and they're still in a recession, and their public debt is much worse than ours is, for now. But I'm sure Dear Leader will fix that in time...

Nope, Japan never had an economic boom in the 2000s that closely mirrored GDP in the US. Nope, Japan's unemployment rate is much lower than the US's...

[StoopTroup]

I would have rounded it off at 4 trillion.

[SoonerProphet]

Speaking of those tax cuts...

http://news.yahoo.com/s/nm/20100201/bs_nm/us_budget_backdoortaxes

:(

Heh, reuters pulled the plug on the article.

[stoopified]

You could work for Acorn...Bingo

[OklahomaTuba]

Heh, reuters pulled the plug on the article.Just saw that, guess the state-run media didn't get Dear Leader's proper blessing.

[SoonerProphet]

Just saw that, guess the state-run media didn't get Dear Leader's proper blessing.

:rolleyes:

[JohnnyMack]

I find this budget to be insulting.

[PDXsooner]

that is a lot of money. too much money. i'm just thankful the republicans aren't in charge or the number would be even bigger. we'd probably have spent millions to de-arm haiti's nuclear supply...

[MamaMia]

They all need voted out, democrats and republicans alike. Thats the only way we can send them a message.

[RUSH LIMBAUGH is my clone!]

They all need voted out, democrats and republicans alike. Thats the only way we can send them a message.Who would you vote for, Jim Inhofe, or his democrat challenger?

[Crucifax Autumn]

Incumbents in general are going to have an uphill fight IMO. The only thing that's working in their favor is the simple-minded idiocy of people who think "they are all bums, you know, except for our guy and he's the exception".

[StoopTroup]

Sounds like some of you might get a chance to do a Q&A with the President. Wonder if Limbaugh is up for a debate?

[RUSH LIMBAUGH is my clone!]

Incumbents in general are going to have an uphill fight IMO. The only thing that's working in their favor is the simple-minded idiocy of people who think "they are all bums, you know, except for our guy and he's the exception".incumbents that have a record of conservative behavior, and almost always vote smart will stand a chance to keep their seats. Unlike McCain, who will have to be beaten in the primary, and he (I hope)might be.

[StoopTroup]

McCain better buy a Truck.

[SoonerProphet]

incumbents that have a record of conservative behavior, and almost always vote smart will stand a chance to keep their seats. Unlike McCain, who will have to be beaten in the primary, and he (I hope)might be.

Without even broaching the subject of what you might consider "conservative behavior", I'd like to see who, with the exception of maybe ron paul, you think turns down "pork" and has towed the fiscal conservative line the last decade or even twenty years.

[Crucifax Autumn]

I'm sorry, but I don't think even a solid record will save anyone. People are too stupid to actually learn any facts and every challenger is gonna say "Vote for me because this guy couldn't stop what's going on right now and I'm not a Washington insider like this dope".

So basically the elections will all be between "they all suck except my guy" and "throw this bum out".

[RUSH LIMBAUGH is my clone!]

I'm sorry, but I don't think even a solid record will save anyone. People are too stupid to actually learn any facts and every challenger is gonna say "Vote for me because this guy couldn't stop what's going on right now and I'm not a Washington insider like this dope".

So basically the elections will all be between "they all suck except my guy" and "throw this bum out".Enter the MSM, and ACORN, to help their party out, as always, and help implement your prediction. Hope it's not enough to screw up the good people in office.

[Crucifax Autumn]

I just don't have faith in people to think for themselves, and I certainly don't forsee the candidates running fact-based campaigns or the stupid media to report anything accurately beyond lame-*** soundbites.