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pphilfran
2/14/2011, 12:23 PM
3.73 trillion dollars....largest ever..could come under the 2011 budget estimates but only barely...

We will be 1.65 trillion in the red for current 2011 budget...

None of the Budget Commissions recommendations were used...

The president's 2012 budget projects that the deficits will total $7.21 trillion over the next decade with the imbalances never falling lower below $607 billion. Even then that would exceed the deficit record before Obama took office of $458.6 billion in 2008, President George W. Bush's last year in office.

They also use very optimistic estimates on GDP growth...higher than most economists expect...so we can expect the deficits to be even higher than the obscene numbers he is presenting at the start...

He now wants to double the amount of clean energy by 2035....what? Didn't he promise a double renewable withing 3 years (2012) during his campaign?

He wants to cut charitable donation deductions to the rich....what a guy...cut Red Cross revenue so he can suck some more into the fed revenue stream...criminal...

He wants to cut mortgage deductions to the rich...I have no problem with this aspect of the budget...there should be a limit...imo there should be no deductions on second homes...

Cut 5 billion a year in tax incentives to gas, crude, and coal producers...we should expect highers energy costs in the future due to this reduction...

Cut about 15 billion a year in military spending...that needs to be significantly higher...

Cutting Pell grants (max $5,550), state funds for water treatment, and large airports...

He ignored the gorilla in the room, SS/Medicare....

What a joke...he isn't taking the deficit/debt situation seriously...

yermom
2/14/2011, 12:28 PM
it seems to me all the tax breaks on mortgages do is raise house prices

you should really get a break on rent payments. you'll never see that money again ;)

delhalew
2/14/2011, 12:28 PM
Fifty some billion for high speed rail...

yermom
2/14/2011, 12:29 PM
i think high speed rail could be cool

i think the airlines need some competition

delhalew
2/14/2011, 12:32 PM
it seems to me all the tax breaks on mortgages do is raise house prices

you should really get a break on rent payments. you'll never see that money again ;)

I know you ate kidding, but if you want the housing market to recover, I'm not sure that deduction is a good target. If its only the deduction second homes, I suppose that is reasonable.

yermom
2/14/2011, 12:33 PM
i think the housing market needs to crash some more

pphilfran
2/14/2011, 12:35 PM
i think high speed rail could be cool

i think the airlines need some competition

High speed rail won't give the airlines any competition...at least for a couple of decades...

The airlines can't consistently make money...increased competition will only make that harder...expect to see fewer routes and higher prices if high speed rail every makes any inroads...

There are few areas that will benefit from high speed rail...the Eastern corridor and Cali are feasible...cross country routes are a pipe dream...

pphilfran
2/14/2011, 12:38 PM
I know you ate kidding, but if you want the housing market to recover, I'm not sure that deduction is a good target. If its only the deduction second homes, I suppose that is reasonable.



He ain't joking...housing prices ARE higher because of the tax deduction...if you remove all of the housing tax deductions for everybody do you actually think housing prices would climb?

Why would you want housing prices to "recover" to the sky high levels that helped cause the crash?

In many areas housing is still overpriced and need to drop another 10 to 20%...

delhalew
2/14/2011, 12:39 PM
i think high speed rail could be cool

i think the airlines need some competition

This is the part ya'll like to skip over...50 BA BILLION.

TheHumanAlphabet
2/14/2011, 12:41 PM
Dead On Arrival.

And High Speed Rail is for the Left Coasts, no one else will use it as the transit times over large distances in fly-over country will continue to make airlines the main mode of travel.

yermom
2/14/2011, 12:42 PM
50 billion is chump change :D

delhalew
2/14/2011, 12:43 PM
He ain't joking...housing prices ARE higher because of the tax deduction...if you remove all of the housing tax deductions for everybody do you actually think housing prices would climb?

Why would you want housing prices to "recover" to the sky high levels that helped cause the crash?

In many areas housing is still overpriced and need to drop another 10 to 20%...

You don't want prices to climb. You only want people to buy houses that are currently sitting empty.

Yes I am aware that jobs would gave the largest effect on this.

delhalew
2/14/2011, 12:48 PM
50 billion is chump change :D

Well **** brother. Let's jump on your private jet and fly somewhere far away, where the women don't speak english. We'll drink some good booze, watch some good rock n roll, and play with some exotic ladies.

yermom
2/14/2011, 12:51 PM
i'm just saying, we could take a week off in Asscrackistan and come up with that kinda dough

delhalew
2/14/2011, 01:05 PM
i'm just saying, we could take a week off in Asscrackistan and come up with that kinda dough

What are you, some kind of loopy isolationist? :D

Place me squarely in the camp of dealing with our own problems before we continue our role as world police. (No I am not saying ignore foreign policy, for those of you ready to suggest just that).

pphilfran
2/14/2011, 01:16 PM
You don't want prices to climb. You only want people to buy houses that are currently sitting empty.

Yes I am aware that jobs would gave the largest effect on this.

That is fine...we want the market to recover...not the prices

soonerscuba
2/14/2011, 01:21 PM
We are left with a political base of people who A) believe that they cannot function without gov't assistance or B) believe that it is only a matter or time and elbow grease before they are in the rarified air of the upper brackets and need to plan and vote accordingly. Both of these are patently false but neither party has any interest in allowing reality to face their constituents and doing what is necessary for the long term viability of the country. This has reflected in our budgets for decades, I would get mad at Obama but I fail to see how he is any different than those before him, why should he be? The gov't is operationally liberal and academically conservative, the budget reflects that, poor as it may be.

soonercruiser
2/14/2011, 01:26 PM
it seems to me all the tax breaks on mortgages do is raise house prices

you should really get a break on rent payments. you'll never see that money again ;)

Better to give a tax break to those who can afford to buy a home. (i.e. make the payments; and help reduce the number of homes on the market)....
Than...give a home to someone who can't afford even minimal payments; let alone paying taxes or upkeep; and then just trash the home's value!
(aka Fannie & Freddie)
:rolleyes:

soonercruiser
2/14/2011, 01:30 PM
50 billion is chump change :D

Sending a pm for my chump share of $1 Billion!
;)

soonercruiser
2/15/2011, 11:26 PM
Didn't Obama "PROMISE" to cut the deficit in half by the end of his first (and hopefully last) term???

http://www.businessinsider.com/obama-i-promise-to-cut-the-deficit-in-half-by-2013-2010-6

http://www.cbsnews.com/stories/2009/02/23/politics/100days/main4821499.shtml

http://www.politifact.com/truth-o-meter/statements/2009/mar/25/barack-obama/obama-promises-cut-deficit-half-four-years/

http://money.cnn.com/2009/02/23/news/economy/fiscal_summit/index.htm

CrimsonCream
2/16/2011, 10:49 AM
Didn't Obama "PROMISE" to cut the deficit in half by the end of his first (and hopefully last) term???

http://www.businessinsider.com/obama-i-promise-to-cut-the-deficit-in-half-by-2013-2010-6

http://www.cbsnews.com/stories/2009/02/23/politics/100days/main4821499.shtml

http://www.politifact.com/truth-o-meter/statements/2009/mar/25/barack-obama/obama-promises-cut-deficit-half-four-years/

http://money.cnn.com/2009/02/23/news/economy/fiscal_summit/index.htm

You ever known Obama to tell the truth on anything? It is always half truths, deception and outright lying.

You see where Christine Roemer has refused an invitation to the House of Representatives to explain where and how the $1 trillion Stimulus was spent?

Kind of ironic how all these sleazeballs were out in front extolling the virtues of the Stimulus and now they can't be found to justify it. What happen to all the "shovel ready" jobs? Oh that's right, Obama there never was any such thing.