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When President Obama introduced his proposed budget, plain and simple, in stark black and white....he lied.
Whether or not he even knew he was lying is debatable...it could be that he could just not grasp even the basics of his own budget.
He used ambiguous language to say his budget plan for fiscal year 2012 would not be running a deficit as of the middle of this decade (2015). He said things like:
"Our budget meets that pledge and puts us on a path to pay for what we spend by the middle of the decade."
"On the budget, what my budget does is to put forward some tough choices, some significant spending cuts so that by the middle of this decade our annual spending will match our annual revenues. We will not be adding more to the national debt."
"What we say in our budget is let's get control of our discretionary budget to make sure that whatever it is that we're spending on an annual basis, we're also taking in a similar amount."
But the facts, in black and white, are not even debatable! His budget is available online to see. Page 171 of Obama's budget clearly shows that, even using the rosiest forecast politicians are apt to use, the numbers DO NOT LIE. At the bottom of this post is a thumbnail of Page 171 with the row titled "Deficit" highlighted. You will see that Obama's budget runs a huge deficit every year from now through 2021. In each year, contrary to Obama's assurances, the government, IF it hits the administration's projections (very questionable?), will still add hundreds of billions of dollars to the national debt.
Bottom line: Obama's budget proposal says, on its face, that the administration intends to add nearly $4.7 trillion in new debt between 2015 and 2021.
Senator Jeff Sessions had some fun with Obama and the Democrats on the floor of the Senate, as he quoted Obama while standing next to a chart that shows the steadily growing debt proposed by Obama's budget.
Sessions challenged any Democratic Senator to step forward and explain how Obama's claims could possibly be true; no one even tried.....
It is saddening to realize that we have a President who cannot talk either intelligently or honestly about his own budget. If the nation is to be saved from the fiscal disaster that looms over us, it is going to be up to the Republicans to do it.
By the way......I'll welcome any "progressives" who feel they can justify the black and white evidence in Obama's own online budget proposal with his quotes that no new deficit spending will be added to the national debt between 2015 and 2021.
If you can offer some insight that not a single Democratic Senator could, BE MY GUEST.
He lied or he's stupid or option three, he hasn't a clue to what he is doing. "How-how-how do I balance a budget?"
He's been a government employee most of his life. For him and many others in Washington money is a thing you print when you get low on.
I wonder? why do I get to go to jail for printing worthless money but they don't???
He lied or he's stupid or option three, he hasn't a clue to what he is doing. "How-how-how do I balance a budget?"
He's been a government employee most of his life. For him and many others in Washington money is a thing you print when you get low on.
I wonder? why do I get to go to jail for printing worthless money but they don't???
Or how do I trick those stupid enough to vote for me .
The real power elite avoid candidates who understand economics. McCain didn't have a clue about economics either.
The power elite seek useful idiots to implement their porgrams. Kennedy was raining on their parade. So was Nixon for some reason. I have read that he grew a little too interested in the Kennedy assassination?
Economic common sense is out the window in America, both with the neo-cons and libs. It's like they think you can have 10 dollars, take away 11 and ignore the negative sign next to the one.
When does borrowing not create debt? Only in two instances: when one has no intention of paying it back, and when Barack Obama does it. Jake Tapper asked new White House press secretary Jay Carney exactly how borrowing over six hundred billion dollars in the best year of Obama’s ten-year budget projections (using the rosiest of all possible economic assumptions) somehow qualifies as (a) balanced spending and (b) not adding to the national debt. Carney explains how that works:
TAPPER: If I borrow money from you — to pay — to pay off the interest for - CARNEY: You may owe me. TAPPER: Ten-year rule. If I borrow money from you to pay off the interest for the debt I owe to Geoff, am I not adding to my debt? CARNEY: Well, without dealing with hypotheticals, why don’t you — why don’t you – TAPPER: The president seems to think that that borrowing money to pay the interest on the debt is not adding to the debt. I don’t understand that math.
Neither does anyone else — not even Carney, who then launches into a soliloquy about families, credit cards, and “invest[ing] in the future.” Carney also states that “interest payments are a major portion of our long-term debt,” but that’s not entirely true of the deficits, at least. Net interest on the existing debt will cost us $205 billion in 2011, and $240 billion in 2012. If debt interest was our only problem, it would be very controllable, and we wouldn’t need to keep borrowing to cover it.
Bear in mind that this interest reflects all the debt we have incurred up until the White House proposed its FY2011 budget. However, thanks to the massive spending expansion of the Democratic Congress and White House, interest payments start escalating rather quickly. By 2017, the interest hits $661 billion in Obama’s original budget plans; by 2021, it’s $928 billion a year. That is more than four times what interest was in 2010.
But to Carney, the problem is all in the past, not the present or Obama’s vision of the future:
Well, the debt is — has been created over a number of years, as you know. And we came in here with an economic crisis, the likes of which, I daresay, I think nobody in this room has ever seen, and which threatened to head straight into a depression if we didn’t act.
But I also remind you that we inherited, when this administration came into office, this president came into office, an enormous debt that had been piled up in the previous eight years. And that is part of the problem. And the interest that you’re talking about is on that debt as well.
Had we stopped deficit spending in 2007 when Democrats took control of the budgeting process, we would have a flat interest problem and no real fiscal crisis, just a hangover from previous deficit spending. Instead, Democrats — first with Obama in their ranks, and then at the lead — exploded the budget and put us on the fast track to Greece.
To answer Tapper’s question, borrowing to pay interest does add to debt. It’s unsustainable, no matter how many cliches Jay Carney uses to distract from the obvious.
By the way......I'll welcome any "progressives" who feel they can justify the black and white evidence in Obama's own online budget proposal with his quotes that no new deficit spending will be added to the national debt between 2015 and 2021.
If you can offer some insight that not a single Democratic Senator could, BE MY GUEST.
The Budget plan would not add to the deficit, but the interest on previous debt will continue to grow. So technically, he is correct.
Economic common sense is out the window in America, both with the neo-cons and libs. It's like they think you can have 10 dollars, take away 11 and ignore the negative sign next to the one.
I may have agreed with that in 2008. But today, with the influence of those newbie Tea Party Republicans, I think they are our only last hope.
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