Lets not forget that idiot Chuck Schumer who said Americans dont care about pork projects.|||It's relatively simple.
First of all, the budget deficit is largely inherited from Bush. That's $1 trillion of it. Some portions of this will continue (remember, Obama isn't pulling the troops out of Iraq -- he's phasing them out, and putting more emphasis on Afghanistan).
Second, the stimulus, another $800 billion, is a one-time expense. Though there will be continued spending here, the deficit will naturally decrease in these regards. Though the spending will continue over the course of the next 5 to 10 years for the sake of economic stimulation, it will be significantly less each year (with an especially significant drop-off in spending around 2013).
Third, a lot is being done to make government processes more efficient and less costly overall. This includes trimming spending in certain areas of government, and making investments now that will reduce spending in government industries like health-care (i.e., hospitals) in years to come.
Fourth, part of the agenda regarding budget and taxation involves cutting out loopholes that are allowing major businesses to evade taxes by registering overseas, while still operating in the U.S. Various loopholes like these will be closed (according to Obama and his administration), leading to more significant revenue for the U.S. government.
Fifth, taxes for those in the $250,000+ income bracket will increase from about 35% to about 39% (this isn't finalized, just preliminary estimates).
Sixth, Obama is going to allow some tax breaks that Bush approved for big business to lapse. This will, again, increase U.S. government revenue.
There are other factors as well, but these are the major ones. By 2013, Obama intends to reduce the annual deficit from it's current 1.75 trillion to about a third of it's current amounts. And analysts (more or less) agree that the numbers work out -- even if there are gray areas yet to be fully explored.
Rob - http://www.utahliberal.com|||(remember, Obama isn't pulling the troops out of Iraq -- he's phasing them out, and putting more emphasis on Afghanistan).
So why are we sending more to Iraq?
Report Abuse
|||When a child is born in the U.S. today - he or she has a bill for $22,000 - nice job Obama. If it was so bad when you took office why didn’t he try to REDUCE the size of the government and the deficit instead of massively expanding it? His borrowing, printing and taxing is the WRONG medicine.
Report Abuse
|||CUT THE DEFICIT?
Obamas first month and he has DOUBLED the deficit. So basically he is saying he will end some of the deficit spending his last year in office.
This is targeted towards those who do not know the deficit from the national debt.
You can bet at the end of Obamas presidency, we will be $4 Trillion MORE in national debt. The deficit or small surplus (if possible) at that point will be meaningless.|||He doesn't plan on spending 800 billion dollars every year while in office, and he also hopes that this will stimulate the economy which in turn brings in more money.
The stimulus plan goes towards this year's budget deficit, but because it's a one-time thing it isn't factored into EVERY year's deficit, it just becomes a part of the 10 trillion + national debt at that point.|||according to my morning newspaper, President Obama proposes to raise taxes on people who make more than $250,000.
Just how much hasn't been said.
What also hasn't been said is what effect these higher taxes will have on investing in new equipment and other capital goods. I'm pretty sure the effect is that investing will decline and capital will flee to other countries -- if only because the typical under age 50 family head saves nothing anyway and so nearly all investing is done by people who make good money.|||Once a million people go to work they will employ another million %26amp; it has a ripple effect...so with everyone working we will have people off of the government assistance %26amp; paying taxes. With innovation all the people who have had inventions for example will be selling what they have held on the back burner for the past 8 years. There are many good things that happen when people start focusing on taking care of their health. Just think about it cause you answer is so easy. Do you know what Clinton did to bring us from deficit to surplus. Ask or research about that. Gosh, the way Obama raises money he could just have the billionaires he knows donate to the country rather than buying schools in Aftrica, for example. There are many ways to come up with money when you focus on prosperity rather than lack.|||Obama attended the Peter Pan and Tinker Bell school of economics.
That school teaches you to just clap your hands and "believe".
I can't believe Obama is telling his constituents that the Spending Bill has no pork, and they stand up and cheer. Did they not read the spending bill?
Obama must have sprinkled fairy dust on them.|||guess you went out for a snack during that part of the speech.
1. no bid contracts will be ended (corporations racked up lots of taxpayers money, like KBR, and Halaburton)
2. change the medicare medicaid laws that allow drug companies to set a price and the government can't negotiate it (5.00 for an aspirin, and taxpayers have to foot it)
3. end programs that don't work (no child left behind)
theses are just some of the ones i remember from the speech.
also, if we take the troops out of Iraq, we don't have to support the Iraqi government anymore (that is like paying on two houses and you live in one)|||If you had listened to him last night you would've known.
He said (which is what he also said during his campaign) that they are reviewing the budget line by line and cutting programs that don't work. He also stated that they've already found 2 TRILLION dollars of funding that can be REMOVED.
Listening is a wonderful thing when used properly!|||It's easy..
1. Increase domestic spending %26amp; foreign trade.
2. Raise higher taxes on the wealthy.
3. Save money from war; You know, pull out of Iraq, and eventually pulling out of Afghanistan by the end of his term.|||He's either hoping that the economy grows to start filling the coffers up, or taxes are going through the roof.
I'm betting on the latter. Seems like the Herbert Hoover playbook is alive and well in the Messiah's administration.|||He's going to raise taxes on small business. Big business only passes these taxes to the consumer. So, in order for business to keep running, we all will get laid off to pay for Obama's pork...|||Answering that question with specificity … is above my pay grade.”|||Raise taxes on businesses (and in 2010, everyone)
Gut the military.
That's pretty much it. It's a cinch the Fed Gov isn't going to trim one gram of fat from their own budget.|||There's a difference between the annual deficit and the national debt.|||Obama is counting on the deficit reduction programs put in place by Bush will work. He doesn't have any of his own.|||You know Americans like eating too much and getting fat. But now they have to control their diet.|||They teach a different math in the Indonesian madrasses.|||Slashing our military and raising taxes or he'll use some new form of accounting, lol.|||I am no math expert but that was my question when I was listening to him.|||Common Seance Will
PREVAIL|||not possible|||he is not, he only said that so the stupid in this country will love him more|||He has already cut it emensely with the un-necessary military spending that bush wracked up for the last 8 years.
Without all those no-bid contracts bush gave his pals he certainly could have saved this country from the deep recession or depression we are forced to face right now.
.
No comments:
Post a Comment