Author Topic: Obama unveils his $3.6tn budget (Read 6725 times)

MicroBalrog · « **on:** March 01, 2009, 08:04:35 PM »

Obama unveils his $3.6tn budget

President Barack Obama has unveiled a $3.6tn (Â£2.5tn) budget for 2010, aiming to pull the US out of financial crisis.

He has predicted the budget deficit for the current year will be $1.75tn, which is 12.3% of annual output and the biggest since World War II.

Planned spending includes $634bn to pay for healthcare reform and an extra $250bn to be set aside, in case it is needed to bail out US banks.

Mr Obama hopes to save money by cutting subsidies and tax breaks.

These announcements are an overview. There will be more details in April.

The $3.6tn of planned spending is still well below the spending of $3.7tn, which is forecast for the year to the end of September 2008 and includes economic stimulus packages.

Eliminate waste

The president promised to roll back tax cuts for the very wealthy and businesses that move jobs overseas.

He added that instead, he would bring in tax cuts that would benefit 95% of hard-working families.

BUDGET SPENDING
# $634bn on healthcare reform
# $200bn fighting in Iraq and Afghanistan
# $250bn in case banks need more money

"There are some hard choices that lie ahead," he said, adding that there were areas where the government would like to spend money in normal economic times, but would be unable to at the moment.

"Each and every one of us has to compromise on certain things we care about, but which we simply cannot afford right now," he said.

He predicted that some of his decisions would be unpopular with special interest lobbying groups in Washington.

Healthcare subsidies

He also promised that his budgets would be an honest accounting of the country's economic situation and include "the full cost of fighting in Iraq and Afghanistan".

He projected spending of $200bn to fight those two wars over the next 18 months.

There are expected to be savings from the winding-down of the war in Iraq, but increased spending as a result of sending more troops to Afghanistan.

The president said he would introduce a scheme to give a subsidy to recently-unemployed people to help them maintain their healthcare funding.

Providing easier access to healthcare was one of his key election promises.

He has promised to halve the budget deficit by the end of his term in 2013 and said one of the ways he would do so would be by cutting back on waste in government.

"We're going to go through our books page by page, line by line to eliminate waste and inefficiency," he said.

"This is a process that will take time, but in the last 30 days alone, we have already identified $2tn in deficit reductions that will help us cut our deficit in half by the end of my first term."
Story from BBC NEWS:
http://news.bbc.co.uk/go/pr/fr/-/2/hi/business/7910335.stm

Published: 2009/02/27 03:34:21 GMT

Micro Sez:

What.

makattak · « **Reply #1 on:** March 01, 2009, 08:09:09 PM »

Quote

"This is a process that will take time, but in the last 30 days alone, we have already identified $2tn in deficit reductions that will help us cut our deficit in half by the end of my first term."

Allow me to translate:

"We're going to raise a lot of taxes, call it "eliminating tax breaks" and we expect that's going to bring us a lot of money."

What's really going to happen though?

They're going to raise a lot of taxes under the guise of "making it fair" and end up causing the economy to tank MORE. (Also, it won't bring in more money as people stop investing)

At least we don't have price controls....

...yet.

Manedwolf · « **Reply #2 on:** March 01, 2009, 08:31:53 PM »

Looting the treasury as they squeal and snort and drool.

And as some Americans cheer.

AZRedhawk44 · « **Reply #3 on:** March 01, 2009, 10:03:08 PM »

He is going to single-handedly make 2009-2010 into record breaking recession years.

It won't reach the scope of the Great Depression since we are too mobile, too charitable and (unfortunately) too socialized for the hurt to hit that deep.

I just worry that the Obama style of hurt is going to leave deeper scars on the true Wheels of Industry and discourage them from moving in America.

longeyes · « **Reply #4 on:** March 01, 2009, 10:56:19 PM »

Obama is the designated kamikaze pilot for the American economy. The real question is who exactly put him in the plane.

Jamisjockey · « **Reply #5 on:** March 01, 2009, 10:59:20 PM »

Quote from: longeyes on March 01, 2009, 10:56:19 PM

Obama is the designated kamikaze pilot for the American economy. The real question is who exactly put him in the plane.

Bavarian Illuminati.

MicroBalrog · « **Reply #6 on:** March 02, 2009, 01:43:07 AM »

Yeah, there are only two options: Conspiracy-theorism or arguing all is exactly as it seems.

El Tejon · « **Reply #7 on:** March 02, 2009, 07:38:53 AM »

Quote

Bavarian Illuminati.

I thought it was the Media.

jamis-jockeys-cabin-boy · « **Reply #8 on:** March 02, 2009, 09:07:04 AM »

Good morning my fellow comrades. I happen to think Obama is the greatest! He will do more for our country then many will give him credit for. If I have him then I do not have to worry about paying my mortgage or putting gas in my car because Hope has the change to pay for it.

Jamisjockey · « **Reply #9 on:** March 02, 2009, 09:28:29 AM »

Quote from: El Tejon on March 02, 2009, 07:38:53 AM

I thought it was the Media.

Who do you think owns the media? Sheesh.

longeyes · « **Reply #10 on:** March 02, 2009, 01:16:58 PM »

Bavarian illuminati? Dear me.

Is that how you think Jimmy Carter came "out of nowhere?" No, you don't have to roam abroad or insinuate that to ask such questions is some kind of veiled anti-Semitism. You don't get to be President of the United States by making "soaring speeches."

Jamisjockey · « **Reply #11 on:** March 02, 2009, 01:29:15 PM »

Quote from: longeyes on March 02, 2009, 01:16:58 PM

Bavarian illuminati? Dear me.

Is that how you think Jimmy Carter came "out of nowhere?" No, you don't have to roam abroad or insinuate that to ask such questions is some kind of veiled anti-Semitism. You don't get to be President of the United States by making "soaring speeches."

If you want to make up conspiracy theories, bring at least some decent cites and references. And no, WND does not count.

Balog · « **Reply #12 on:** March 02, 2009, 01:30:09 PM »

Ok Longeyes, why don't you spell it out for us. Who put Obama in power, in your mind. Try using actual facts and names not obscure metaphors. I like you but all this cloak and dagger mysterious analogy bullshit is getting old.

Jamisjockey · « **Reply #13 on:** March 02, 2009, 01:31:34 PM »

Quote from: Balog on March 02, 2009, 01:30:09 PM

all this cloak and dagger mysterious analogy bullshit is getting old.

Couldn't have said it better myself.

longeyes · « **Reply #14 on:** March 02, 2009, 01:40:59 PM »

I think you can find information on Carter, Brezinski, and D. Rockefeller yourself, if you care to.

If you think I am talking in riddles, so be it. I DON'T have the total picture, but then neither does anyone else here. I do know this: We have every reason to be enraged and to be deeply worried; either we wake up and get militant or we will all of us here end as slaves or, worse, timid collaborators.

This isn't about mysterious conspiracies, it is about what lies behind the news, who is really making the critical decisions and on what basis, about alliances and about convergence of interests.

Jamisjockey · « **Reply #15 on:** March 02, 2009, 01:50:18 PM »

Quote from: longeyes on March 02, 2009, 01:40:59 PM

I think you can find information on Carter, Brezinski, and D. Rockefeller yourself, if you care to.

If you think I am talking in riddles, so be it. I DON'T have the total picture, but then neither does anyone else here. I do know this: We have every reason to be enraged and to be deeply worried; either we wake up and get militant or we will all of us here end as slaves or, worse, timid collaborators.

This isn't about mysterious conspiracies, it is about what lies behind the news, who is really making the critical decisions and on what basis, about alliances and about convergence of interests.

Its easy to be militant from behind a keyboard. Your posts are long on noise and short on solutions, action, and information.

Balog · « **Reply #16 on:** March 02, 2009, 02:03:52 PM »

Quote from: longeyes on March 02, 2009, 01:40:59 PM

I think you can find information on Carter, Brezinski, and D. Rockefeller yourself, if you care to.

If you think I am talking in riddles, so be it. I DON'T have the total picture, but then neither does anyone else here. I do know this: We have every reason to be enraged and to be deeply worried; either we wake up and get militant or we will all of us here end as slaves or, worse, timid collaborators.

This isn't about mysterious conspiracies, it is about what lies behind the news, who is really making the critical decisions and on what basis, about alliances and about convergence of interests.

It's not a matter of what I can find or what I believe. Your posts are always vague metaphors. No really, go look at your posts.

I want you to clearly state your position. No analogy, no metaphor, no simile or any other literary device. Just saw wtf you mean. Not that hard dude, really.

longeyes · « **Reply #17 on:** March 02, 2009, 02:05:20 PM »

Spare me the keyboard machismo. We can try to be civil about this. I have no desire to engage you on the level of bluster, much less personal insults.

I think we first need to comprehend the magnitude of the problem, how serious the danger is. If you have read my posts you will know that I have said we need coordinated civil action, demonstrations, public "drama." Before this is over we are going to need a broad-based civil rights movement and our own Martin Luther Kings espousing our own philosophy of individual liberty and limited government.

That is the "action" I propose. Clear?

Balog · « **Reply #18 on:** March 02, 2009, 02:18:45 PM »

Machismo? Keyboard bluster? From the guy who regularly makes vague allusions to the upcoming secession?

I'm not arguing with you, I'm merely pointing out your stylistics shortcomings. Whether you can see it or not you come across as a paranoid whack-job muttering unintelligible prophecies. I don't think you are, but you need to wake up and see how you are perceived on this board if you want to make a point.

longeyes · « **Reply #19 on:** March 02, 2009, 02:20:35 PM »

Vague metaphors?

I have no trouble saying what I mean, believe me.

Balog · « **Reply #20 on:** March 02, 2009, 02:22:35 PM »

Quote from: longeyes on March 02, 2009, 02:20:35 PM

Vague metaphors?

I have no trouble saying what I mean, believe me.

You might try doing that, then.

longeyes · « **Reply #21 on:** March 02, 2009, 02:27:56 PM »

Talking about secession obviously makes people on this board nervous. Perhaps understandably.

I don't see that topic as a matter of bluster or bravado, just uncomfortable reality. I have said, quite openly, that in my opinion there is no way to resolve the current political and cultural rifts in this nation without some kind of "divorce" (and secession, per se, I have also said, is only one possible way that can occur). We have let the forces of disintegration proceed way too far. Again, my opinion. I consider this to be realism, not raving, but I can understand why many start getting the hives when this comes up.

As for my stylistic shortcomings and my alleged reputation as a paranoid, well, opinions vary, my friend.

Ben · « **Reply #22 on:** March 02, 2009, 02:35:25 PM »

And again...

News:

Author Topic: Obama unveils his $3.6tn budget (Read 6725 times)