Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
President Obama will respond to a Republican push for a drastic reduction in government spending by proposing sharp cuts of his own in a fiscal 2012 budget blueprint that aims to trim record federal deficits by $1.1 trillion over the next decade.
Over the next DECADE????? It may well be too late by that time and he'll not even be in office!!
Quote:
Obama would reach his target in part by raising taxes
GW Bush was paying down the deficit at a record pace and had 52 Months of economic growth by CUTTING TAXES.
Quote:
The White House proposal, outlined Friday by a senior administration official, would barely put a dent in deficits that congressional budget analysts say could approach $12 trillion through 2021.
If you read my link,. you'd see that the Republicans haven't formed a final "counter-proposal" yet.
They are only tackling discretionary funding this go-around. Not a serious proposal at all. Their views on entitlements are well known, but what is their proposal to cut defense spending? That is what interests me.
The view of the Democrats on defense spending is somewhat mixed, but tends towards cuts. However, what are their views on cutting entitlements? that would also be interesting to know.
Finally, what are both parties views on cutting domestic subsidies? I'd like to have an honest opinion on those three issues.
Unfortunately, Democrats and Republicans are not forthcoming, and therefore, introducing (or will introduce) no serious budget proposal.
With Republicans in charge of the House, Mr. Obama’s budget is more a statement of his priorities and philosophy than an actual template for federal spending and tax policy. Long-term budget projections — and especially deficit forecasts — are frequently unreliable because they are subject to so many political and economic variables. The point of Mr. Obama’s forecast is less to promise a specific result than to signal to voters and financial markets that he is serious about reducing annual deficits.
And...
Quote:
House Republicans will begin work on a 2012 budget after they finish trying to shrink current spending. But their proposed $100 billion cut for this fiscal year, already four months old, would translate over a decade into more than $1 trillion in deficit reductions, budget analysts say.
Obama ( nor anyone else) cannot be taken seriously on the budget while going on and on about $53 billion high speed rail, green "investments" and a $2 billion a week war without end in Afghanistan.
They added to the deficit, but they were not counted in the budget. The two wars were covered by supplemental bills.
That's how the budget was cooked in the Bush Administration and anyone who could believe that a budget could be balanced with two fighting wars going on, a tax cut, and a large increase in medicare spending is a very naive fellow.
Their proposed 2011 Budget Cuts would translate into a 1 Trillion dollar reduction in the deficit.
Obama will reveal HIS budget plan on Monday and the Republicans will begin to form their own proposal after that.
If it does, great.
But I'm very skeptical of any proposal that only deals with 10% of the budget.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
