To learn more: budget.house.gov On February 15, the President submitted his Fiscal Year 2012 budget. The disappointing proposal was roundly rejected across the political spectrum for its lack of seriousness given the fiscal and economic challenges before us. On March 18, the CBO offered a preliminary analysis of the President's budget, noting that under the President's budget: - Federal spending never falls below 23 percent of GDP -- Washington will spend over trillion over the next decade; - Cumulative deficits are .3 trillion higher than OMB estimated; - The debt increases by .8 trillion more than OMB estimate, nearly tripling the debt at the end of the budget window. On April 13, the President gave a speech in which he offered his opinion on The Path to Prosperity -- a budget that brought an unprecedented level of seriousness to Washington's budget debate. The President and spoke generally of deficit reduction proposals that his administration has sold as a new budget plan. But the President has not submitted a new budget to Congress. The President's initial budget proposal remains his budget plan for the United States. While many have falsely framed his April 13 speech as a new budget plan, Congress has not received from the Office of Management and Budget any of the proposals mentioned in the speech. All that the Obama Administration has produced is a list of talking points issued by the White House Press Office. As CBO Director Doug Elmendorf confirmed today ...
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Grow up Republicans and get with the program. YOUR party is the issue! YOUR party needs to get with it already.
@masercot – KOCH BROS – SENATE CONTRIBUTIONS JUST FOR 2010
Coburn, Tom (R-OK) Senate $14,800
Hoeven, John (R-ND) Senate $12,400
Coats, Daniel R (R-IN) Senate $11,000
Burr, Richard (R-NC) Senate $10,750
Sessions, Pete (R-TX) House $10,000
Shelby, Richard C (R-AL) Senate $10,000
Walden, Greg (R-OR) House $10,000
Murkowski, Lisa (I-AK) Senate $9,950
Peterson, Collin C (D-MN) House $9,500
Vitter, David (R-LA) Senate 410,000
— AND MORE
@masercot – KOCH BROTHERS Senate Contributions — THIS IS JUST FOR 2010
Rubio, Marco (R-FL) Senate $26,400
DeMint, James W (R-SC) Senate $22,000
Portman, Rob (R-OH) Senate $22,000
Toomey, Pat (R-PA) Senate $21,600
Johnson, Ron (R-WI) Senate $20,600
Fiorina, Carly (R-CA) Senate $20,000
Ayotte, Kelly A (R-NH) Senate $19,600
Buck, Ken (R-CO) Senate $18,200
Rossi, Dino (R-WA) Senate $18,200
Thune, John (R-SD) Senate $17,050
Paul, Rand (R-KY) Senate $17,000
– TO BE CONT
@DillonDee1 Cato is Libertarian think tank. Kochs are conservatives. Cato actually disagrees with much of the Bush Presidency. You sound like you have a bad case of Bush Derangement Syndrome coupled with a dose of Koch Bros mental disorder. I recommend you get that treated before you really fall off the deep end.
@nomorespooks –
When Exxon makes billions, pays no US taxes, and yet receves billions of our tax dollars in subsidies, it is a concern of mine.
@okturus A private military is more effective for expeditionary/invasion scenarios. They aren’t constrained by an endless supply of fat bureaucrats who have never had a real job and have no idea what an HONEST days’ work is. You know, kind of like liberals…..
Let me know how that unemployed American you want a golden shower from feels about being
unemployed because of liberal/leftist/communist BULLSHIT ideology.
@Streetmastaalex You are a frigging idiot. Kill yourself as soon as possible.
Vote for raising the debt ceiling indefinitely. Vote fore HIGHER taxes on everyone, every business, and every item sold. Vote for cap and trade. Vote for a National union bill that lets them unionize in every state. Vote for MORE obama-care. Vote for ANOTHER stimulus package. Print a HELL of a lot more money so we can piss it away at the titty bars.Economic COLLAPSE is the ONLY opportunity we will have of repairing this politically correct nightmare that used to be the USA. RESET us NOW!!!
@DillonDee1 As a private comapany, its none of your frigging concern how much Exxon made last year.
@wolfgangfaust – The only 2 yrs in the last decade that had relatively high inflation rates were 2006 & 2008.
I dont anticipate rates reaching those levels again anytime soon as the economy remains too sluggish.
But what could bring it up is if oil goes to $140 pb again but I dont think that’ll happen as I have oil interests in Texas & our state is dramatically increasing production.
@DillonDee1
…instead of the majority of the taxpayers.
@DillonDee1
Wow, you liberals and your Koch Bros. derangement is really super funny. I guess if I wanted to constantly point fingers at a behind the scenes group which completely buys politicians (democrats & Rinos) for its own political gain I’d get tired of pointing my fingers at all the big union organizations, especially the public sector ones, as they have created a perfect system of funneling member dues directly towards lobbying for politicians who will bend over backwards for them…
“lenin was certainly right, there is no more positive, subtle or surer means of destroying the existing basis of society than to debauch the currency.
by a continuing process of inflation, government can confiscate, secretly and unobserved, an important part of the wealth of the citizens.
the process engages all of the hidden forces of economics on the side of destruction, and does it in a manner that not one man in a million can diagnose.”
-john maynard keynes
O-bot admin economic guru
@c00lhand208 — The Cato Institute is run by the Koch Brothers & they’ll also tell you Bush was one of our greatest jpresidents which is more bullshit I’m sure you’d eat up
@DillonDee1
According to a study from the Cato Institute:
On 8 of the 10 key economic variables examined, the American economy performed better during the Reagan years than during the pre- and post-Reagan years.
Reagan’s tax cuts, combined with an emphasis on federal monetary policy, deregulation, and the expansion of free trade created a sustained economic expansion, one which that saw America’s greatest sustained wave of prosperity ever.
@DillonDee1
Prior to Reagan’s term, the US economy experienced a decade of rising unemployment and inflation, known as stagflation. The economy went from a GDP growth of -0.3% in 1980 to 4.1% in 1988, which reduced the unemployment rate by 1.6%, from 7.1% in 1980 to 5.5% in 1988, but the recession he walked into office dealing with caused peaks around 9.5% in 1982 and 1983 before reversing.
@DillonDee1 -
Ronald Reagan was a war time president and all wars will cause some level off debt. Nevertheless, the facts are that the federal deficit fell from 6% of GDP in 1983 to 3.2% of GDP in 1987 and the federal deficit in Reagan’s final budget fell to 2.9% of GDP. Plus, the rate of growth in federal spending fell from 4% under Jimmy Carter to 2.5% under Ronald Reagan. However, Reagan’s tax reform was weakened by the many hands that changed the President’s calculus, like Congress.
@DillonDee1 -
Civil War… seriously? You went that far back to make your point. Here I thought you were referring to the Cold War. My previous statement still holds true, you’re looking at eras that had little to no global competition, there wasn’t much if a world market place to put economic pressure on our economy. Times are different now and failing economics such as Keynesian economics are proving just how damaging they really are.
Where were these number crunching on the past 12 years?? This is all politics. They are putting the Heat on obama because they want the 2012 election but these same characters did the same exact thing during bush. The iraq was wasnt paid for. Healthcare is not paid for. We are soo screwed.
Paul Ryan is scum
@homeschoolmarm And what do the Repugs have? Oh right, nothing
haHAAA….Guy with the glasses owned that tool! You republicans are out of your minds! You keep rooting for these cocksuckers that don’t give a fuck about you. Maybe fire departments, water treatment facilities, police dept. should be owned by the private sector also. Fuck it, lets privatize the US military while we’re at it. You want trickle down economics, is that it? Find an out of work American and ask him to piss on you. It’ll trickle right down for you good buddy.
I have an EXCELLENT budget plan, congress…
1. Cut spending DRASTICALLY in all areas.
2. Return to the Flat Tax (10% for EVERYBODY).
3. Get government’s hands out of everything except for police, fire and defense.
Keep your CHANGE, Obama. What a crock of shit.
POTUS = Lack of leadership