Budget 2011 - Obama asks for record deficit

I know the owners of the site have asked for links instead of full postings placed on other sites, but as many here might not be able to visit the other site at all, I have chosen to include the post in its entirety here. My thanks in advance for your understanding and apologies if my perception is not accurate.

Obama is asking for a one year $1.65 Trillion dollar deficit, to increase the current deficit of $14.1 Trillion by an additional 11.5% in one year, while telling us that his plan will trim $1.1 Trillion, or roughly 2/3 of this one year amount, over the next ten years.

Obama's budget calls for borrowing over 44 cents out of every 1 dollar the federal government spends in fiscal 2012 and he said in his weekly radio address that this budget asks Washington to live within its means. Leno ought to have a field day with that one, a comedian's monologue is the only place such a joke would normally be found.

The deficit spending alone would account for nearly 11% of the national economy - money spent by the federal government in excess of the 18% of the national economy that it has historically collected since Truman was in office. Our president is trying to tell us that it will take between 25% and 28% of every dollar the nation's economy generates for our federal government to live within its means.

The $1.65 Trillion deficit is 362% greater than the record deficit of Bush and the Congress led by Pelosi and Reid in fiscal 2008. It is 18% greater than the deficit that was racked up after Bush, Pelosi and Reid bailed out the banks and Obama, Pelosi and Reid "stimulated" the economy in fiscal 2009.

Over the next 10 years, Obama figures the federal government will rack up $8.3 Trillion in deficit spending, of which $1.1 can be "saved" from being added if his budgets are followed, for a total addition of only $7.2 Trillion. That would mean our current $14.1 Trillion dollar debt would only rise 51% over the next decade instead of 59%.

I don't know folks - asking us to increase our public debt by 50% over the next decade doesn't sound like asking Washington to live within its means to me. Freezing spending at the 24% larger 2010 figure instead of the 2008 figure doesn't sound like asking Washington to live within its means either. Asking it to plan on spending no more than 20% of the national economy regardless of how much individual welfare social entitlement programs need to be cut to reach that figure sounds a lot more like asking Washington to live within its means to me.

We need to get rid of the federal spending that is driving this nation into the debt hole. We could cut every other function of government other than the individual welfare social entitlement programs to meet this goal or raise the national tax burden 50% to reach it. It is time to come to grips with the reality that $1 Trillion spent on wars over the last decade isn't the reason the debt rose from $5.7 Trillion in Sept of 2000 to $13.6 Trillion in September of 2010. It's time to realize that all of the waste from all levels of the federal government doesn't account for that rise either. With no wars to fight and all the waste eliminated the deficit would still be above $10 Trillion and rising because the federal government spends too much money on the social welfare programs that address the individual welfare of the people living in the nation. We are never going to have a federal government that lives within its means as long as we have a federal government that is focused on taking care of the individual citizen to a greater degree than they are focused on the common defense and general welfare of the union of the states. Over half of the federal budget, not revenue, budget, is spent on individual welfare programs. At present nearly 100% of the federal revenue is consumed in funding these programs.

If we limit Social Security and Medicare funding to the revenue that is raised by the privileged to be employed and have employee taxes that are levied to pay for them, pay the interest due on the national debt, eliminate the waste in the "discretionary" budget items that compose the necessary functions of the federal government, we might, just might, be able to balance the federal spending against the federal revenues and have a little left over to start paying off the principle amount of the debt. We won't ever realize the ability to start paying off the principle unless and until we eliminate from the federal budget the programs that it created that it was never intended to address or we decide as a nation that we are willing to accept a 30% tax levied upon our national economy, instead of the 18% tax that we have paid for the last 60 years, to fund those programs and still have enough money to pay off the principle.

That is not a 30% total tax burden mind you, that is 30% to the federal government alone. The state and local tax burden necessary to sustain your local government, your local police department, your local fire department, your local roads, your local schools is laid on top of that amount. Are we as a nation willing to surrender half of every dollar our economy earns in taxes to the federal, state and local governments to provide them with the funds they think necessary to live with their means?

Obama is an idiot.

Bush's worst deficit year was $440+ billion (after the Dems had control of both houses and the budget) and the Democrats went crazy about that creaming for change. Obama is going to have at least 4 years over $1 trillion including this year over $1.65 trillion, (4 times higher than any other President in hostory) and he is bragging that by 2017 he will cut he deficit in half to $674 billion. Are you kidding me? He is bragging about bringing it down to much higher than any other President in history after 7 years? And on top of that with all this waste, unemployment has gone way up and staying there, and forclosures are higher than ever in history. Who voted for this community organizer? :bash :bash

The Viking wrote: Who voted for this community organizer? :bash :bash

A bunch of entilement minded blood suckers and kumbaya singing patchouli lovers that think the government knows what's best for society.

Nobody that matters wrote:

The Viking wrote: Who voted for this community organizer? :bash :bash

A bunch of entilement minded blood suckers and kumbaya singing patchouli lovers that think the government knows what's best for society.

LJ.

conifermtman wrote:

Nobody that matters wrote:

The Viking wrote: Who voted for this community organizer? :bash :bash

A bunch of entilement minded blood suckers and kumbaya singing patchouli lovers that think the government knows what's best for society.

LJ.

rofllol :rofl LMAO at both posts!!! rofllol :rofl

The Viking wrote: Bush's worst deficit year was $440+ billion (after the Dems had control of both houses and the budget) and the Democrats went crazy about that creaming for change. Obama is going to have at least 4 years over $1 trillion including this year over $1.65 trillion, (4 times higher than any other President in hostory) and he is bragging that by 2017 he will cut he deficit in half to $674 billion. Are you kidding me? He is bragging about bringing it down to much higher than any other President in history after 7 years? And on top of that with all this waste, unemployment has gone way up and staying there, and forclosures are higher than ever in history. Who voted for this community organizer? :bash :bash

To be fair, for the decades that I have been paying attention, the party in power ALWAYS wants to spend more, and the minority are ALWAYS outraged and speak of fiscal restraint. Each time a growing economy has bailed the bastards out.
I think that that can has been kicked down the road as far as it will go. If they do not take drastic action now, we are screwed, our kids are screwed, our grand kids are screwed.
It will not happen unless enough of the voting public keeps a gun to the heads of all the political class. Metaphorically speaking of course.

That's true Neptune, they do always spend too much on both sides. We can thank the Tea Party surge for a real wake up call that FINALLY made these politicians on both sides pay attension.

When I spend too much, accumulate debt, and don't pay it back, my bank yanks my credit card. WE ARE THE BANKERS FOR THE GOVERNMENT, and we've been silent for way too long.

One day, if we ever manage to get this country out of debt, the history books (the correct ones) will show how the people of this country (the correct ones) pressured the government to change it's ways by voting out those who were unwilling to give us the CORRECT CHANGE!!

More than bankers , we are the being forced to cosign for a mortgage taken out by our dead beat cousin.

Nobody that matters wrote:

The Viking wrote: Who voted for this community organizer? :bash :bash

A bunch of entilement minded blood suckers and kumbaya singing patchouli lovers that think the government knows what's best for society.

Yea, but also a bunch of moderate democrats, independents and some who are politically indifferent but thought voting for BO would be historic.
Many know that they made a mistake, but human nature being what it is, will not say so. Some will not even admit it to themselves.
It does not make it any easier for them to get a dose of political and fiscal reality by reminding them that they were dumb sh**s.