Every penny you have earned until today goes to government..

[Fear No Evil]

April 13th is Tax Freedom Day.. which means every penny the average American has made up until today goes to the government. Its kind of freightening when you think about it. It was wrong when Bush did it, its wrong when Obama is doing it. Government needs to FINALLY say enough is enough and we need to stop spending! How long until we are working 50% of the time just to support government spending?

 

[JSFLY]

Heres something I posted in another thread that didn't get much attention. I'll repost here since it addresses the issue.

Originally posted by: JSFLY

Originally posted by: ProfJohn
I think we are looking at a $2 trillion deficit this year.

I wouldn't blame Obama for it either.

But I will blame Obama for not taking action to get the budget balanced in the future, and it is clear that he cares nothing about a balanced budget.

That's not exactly true. Heres a quote from Obama pertaining to the budget deficit from the last primetime press conference he took part in. Basically he's saying we need to spend now with regards to health care and energy to reduce the amount those issues will cost us in the long run. Spend now to reduce the future deficit, that is his goal. Whether this plan will work is debatable, but what isn't debatable is the fact that Obama does care about our budget deficit. He cares nothing about a BALANCED budget because let's face it, it is impossible to balance our budget in our current situation.

Here's the excerpt:
Q: Thank you, Mr. President. At both of your town hall meetings in California last week, you said, quote, I didn't run for president to pass on our problems to the next generation.

But under your budget, the debt will increase $7 trillion over the next 10 years. The Congressional Budget Office says $9.3 trillion. And today on Capitol Hill, some Republicans called your budget, with all the spending on health care, education and environment, the most irresponsible budget in American history.

OBAMA: Yes.

Q: Isn't that kind of debt exactly what you were talking about when you said passing on our problems to the next generation?

OBAMA: First of all, I suspect that some of those Republican critics have a short memory, because, as I recall, I'm inheriting a $1.3 trillion deficit, annual deficit, from them. That would be point number one.

Point number two. Both under our estimates and under the CBO estimates, both -- the most conservative estimates out there, we drive down the deficit over the first five years of our budget. The deficit is cut in half. And folks aren't disputing that.

OBAMA: Where the dispute comes in is what happens in a whole bunch of out-years. And the main difference between the budget that we presented and the budget that came out of the Congressional Budget Office is assumptions about growth.

They're assuming a growth rate of 2.2 percent; we're assuming a growth rate of 2.6 percent. Those small differences end up adding up to a lot of money. Our assumptions are perfectly consistent with what Blue Chip forecasters out there are saying.

Now, none of us know exactly what's going to happen 6 or 8 or 10 years from now. Here's what I do know: If we don't tackle energy, if we don't improve our education system, if we don't drive down the costs of health care, if we're not making serious investments in science and technology and our infrastructure, then we won't grow 2.6 percent, we won't grow 2.2 percent. We won't grow.

And so what we've said is, let's make the investments that ensure that we meet our growth targets that put us on a pathway to growth as opposed to a situation in which we're not making those investments and we still have trillion-dollar deficits.

And there's an interesting reason why some of these critics haven't put out their own budget. I mean, we haven't seen an alternative budget out of them.

And the reason is because they know that, in fact, the biggest driver of long-term deficits are the huge health care costs that we've got out here that we're going to have to tackle and we -- that if we don't deal with some of the structural problems in our deficit, ones that were here long before I got here, then we're going to continue to see some of the problems in those out-years.

And -- and so what we're trying to emphasize is, let's make sure that we're making the investments that we need to grow to meet those growth targets, at the same time we're still reducing the deficit by a couple of trillion dollars, we are cutting out wasteful spending in areas like Medicare, we're changing procurement practices when it comes to the Pentagon budget, we are looking at social service programs and education programs that don't work and eliminate them.

And we will continue to go line by line through this budget, and where we find programs that don't work, we will eliminate them.

But it is -- it is going to be an impossible task for us to balance our budget if we're not taking on rising health care costs, and it's going to be an impossible task to balance our budget or even approximate it if we are not boosting our growth rates. And -- and that's why our budget focuses on the investments we need to make that happen.

QUESTION: But even under your budget, as you said, over the next four or five years, you're going to cut the deficit in half, then, after that, six years in a row, it goes up, up, up. If you're making all these long-term structural cuts, why does it continue to go up in the out-years?

OBAMA: Well, look, it is going to take a whole host of adjustments, and we couldn't reflect all of those adjustments in this budget.

Let me give you an example. There's been a lot of talk about entitlements in Medicare and Medicaid. The biggest problem we have long term is Medicare and Medicaid. But whatever reforms we initiate on that front -- and we're very serious about working on a bipartisan basis to reduce those deficits or reduce those costs -- you're not going to see those savings reflected until much later.

And so a budget is a snapshot of what we can get done right now, understanding that, 8, 10 years from now, we will have had a whole series of new budgets and we're going to have to make additional adjustments.

And once we get out of this current economic crisis, then it's going to be absolutely important for us to take another look and say, are we growing as fast as we need to grow? Are there further cuts that we need to make? What other adjustments are -- is it going to take for us to have a sustainable budget level?

But, keep in mind, just to give one other example, as a percentage of gross domestic product, we are reducing non-defense discretionary spending to its lowest level since the '60s, lower than it was under Reagan, lower than it was under Clinton, lower than it was under Bush, or both Bushes.

OBAMA: And so, if we're growing, if we are doing what's necessary to create new businesses and to expand the economy, and we are making sure that we're eliminating some of these programs that aren't working, then, over time, that gap can close.

But I'm -- look, I'm not going to lie to you. It is tough. As I said, that's why the critics tend to criticize, but they don't offer an alternative budget. Because even if we were not doing health care, we were not doing energy, we were not doing education, they'd still have a whole bunch of problems in those out-years, according to CBO projections. The only difference is that we will not have invested in what's necessary to make this economy grow.

Source:
http://www.google.com/hostedne...1jPhFS6KsvPegD974ORSO0

 

[ericlp]

I know how you feel I was posting this crap back when bush was doing it and no one was listening either. Your beating a dead horse.

Edit, I don't think anyone knows what a trillion dollars is. I think your a little too late. Hell, if bush can spend 6-7 trillion in 8 year I don't see why Obama can't spend 3 or 4 trillion in his 4 years... What's your problem?

I figured we'd be screwed just trying to pay down the debt on bushes tab. Now if Obama can't turn things around with his plan then yeah... Were gonna be toast. China will own and laugh at us idiots even harder. If you gave bush 8 years, why not give obama a few years to see if he can make it better? I'm will to give him a chance just like I gave bush a chance.

 

[frostedflakes]

No, government needs to raise taxes. If Americans actually had to pay for all the crap they feel they're entitled to, people might start to reconsider government's role in their lives. Instead we just deficit spend like mad, which shields citizens from the actual cost of government.

 

[jpeyton]

Say what? I'm pretty sure I kept most of the pennies I earned.

 

[Siddhartha]

Originally posted by: Fear No Evil
April 13th is Tax Freedom Day.. which means every penny the average American has made up until today goes to the government. Its kind of freightening when you think about it. It was wrong when Bush did it, its wrong when Obama is doing it. Government needs to FINALLY say enough is enough and we need to stop spending! How long until we are working 50% of the time just to support government spending?

Living in the US is worth 33% of my income.

 

[Bowfinger]

Originally posted by: Siddhartha

Originally posted by: Fear No Evil
April 13th is Tax Freedom Day.. which means every penny the average American has made up until today goes to the government. Its kind of freightening when you think about it. It was wrong when Bush did it, its wrong when Obama is doing it. Government needs to FINALLY say enough is enough and we need to stop spending! How long until we are working 50% of the time just to support government spending?

Living in the US is worth 33% of my income.

Hear, hear! Personally, I'm thrilled to know that in the first couple of weeks after "Tax Freedom Day," I will take home more money than most of the world's workers earn in a year. One third of my gross is a small price to pay to live in a country that offers the exceptional physical, financial, and educational infrastructure vital to creating opportunities like ours. God bless America!

 

[Siddhartha]

Originally posted by: Bowfinger

Originally posted by: Siddhartha

Originally posted by: Fear No Evil
April 13th is Tax Freedom Day.. which means every penny the average American has made up until today goes to the government. Its kind of freightening when you think about it. It was wrong when Bush did it, its wrong when Obama is doing it. Government needs to FINALLY say enough is enough and we need to stop spending! How long until we are working 50% of the time just to support government spending?

Living in the US is worth 33% of my income.

Hear, hear! Personally, I'm thrilled to know that in the first couple of weeks after "Tax Freedom Day," I will take home more money than most of the world's workers earn in a year. One third of my gross is a small price to pay to live in a country that offers the exceptional physical, financial, and educational infrastructure vital to creating opportunities like ours. God bless America!

I have never had an issue with paying taxes.
I am lucky to have been born and raised in the US. I went to public schools for K through 12 and state universities for both undergraduate and graduate degrees. Which has help me afford an incredible quality of life. There are not too many countries where I could have done this.

It is easy to take living in the US for granted. I suggest that everyone should travel to a third world country to get an idea how good life is in the US.

 

[rchiu]

Originally posted by: Siddhartha

Originally posted by: Fear No Evil
April 13th is Tax Freedom Day.. which means every penny the average American has made up until today goes to the government. Its kind of freightening when you think about it. It was wrong when Bush did it, its wrong when Obama is doing it. Government needs to FINALLY say enough is enough and we need to stop spending! How long until we are working 50% of the time just to support government spending?

Living in the US is worth 33% of my income.

Heh, if it's just the 33%, it wouldn't be a problem. The problem is government collects the 33% and on top of that spend couple of trillions more in this fiscal year along.

You will have to pay for all that additional spending one way or the other.

 

[Craig234]

Originally posted by: rchiu

Originally posted by: Siddhartha

Originally posted by: Fear No Evil
April 13th is Tax Freedom Day.. which means every penny the average American has made up until today goes to the government. Its kind of freightening when you think about it. It was wrong when Bush did it, its wrong when Obama is doing it. Government needs to FINALLY say enough is enough and we need to stop spending! How long until we are working 50% of the time just to support government spending?

Living in the US is worth 33% of my income.

Heh, if it's just the 33%, it wouldn't be a problem. The problem is government collects the 33% and on top of that spend couple of trillions more in this fiscal year along.

You will have to pay for all that additional spending one way or the other.

Ya, this 'tax freedom day' is propaganda pure and simple, designed to mislead people, with the word 'freedom'thrown in just to make sure that button is pushed too.

What's more helpful would be for people to recognize the disproportionate power the very wealthy wield in how the government is misused to extract wealth from most people.

It's not an accident that the super wealty have skyrocketed in wealth since Reagan while all those below the top 20% have had about zero gain after inflation for 25+ years.

This sort of 'light the torches and hate the government' propaganda is designed to get people to accept less government spenidng for their own benefit - spenidng for the wealthy would, surprisingly, remain pretty well intact. Of course, there's a problem, but this propaganda isn't the solution. Fixing democracy, so that the extremely wealthy are less dominant politically, and the average American does better, and as part of that controlling the size of the government and eliminating deficits, is the way to go.

This propaganda fuels a childish attitude too many people have of ignorance about how the government works and wanting 'something for nothing'. It's designed to elect Republicans who are the agents of the wealthy who pander to the ignorance. Which President passed 'pay-go' - pay for new spenidng to avoid increasing the deficit, which curtailed much new spending - and which President got rid of it? If you answered Clinton and Bush, respectively, you are probably not one of the people falling for this propaganda.

 

[StageLeft]

Originally posted by: ericlp
I know how you feel I was posting this crap back when bush was doing it and no one was listening either. Your beating a dead horse.

Edit, I don't think anyone knows what a trillion dollars is. I think your a little too late. Hell, if bush can spend 6-7 trillion in 8 year I don't see why Obama can't spend 3 or 4 trillion in his 4 years... What's your problem?

I figured we'd be screwed just trying to pay down the debt on bushes tab. Now if Obama can't turn things around with his plan then yeah... Were gonna be toast. China will own and laugh at us idiots even harder. If you gave bush 8 years, why not give obama a few years to see if he can make it better? I'm will to give him a chance just like I gave bush a chance.

Do you realize that Obama is going to increase the national debt far faster than Bush did; like he will make Bush look like a small timer at the rate and with budget projections he has laid out?

I don't think this is propaganda. Propaganda is painting points from the data, but taken for what it's worth it simply gives a person an idea of what they are generating and for whom.

 

[Mean MrMustard]

Originally posted by: frostedflakes
No, government needs to raise taxes. If Americans actually had to pay for all the crap they feel they're entitled to, people might start to reconsider government's role in their lives. Instead we just deficit spend like mad, which shields citizens from the actual cost of government.

This.

This is why as a libertarian, I advocate raising taxes. All spending (budget, supplemental, stimulus, or whatever) should have a tax raised or levied to to pay for it. It's like people live in a fantasyland. Oh, the gov't needs to do this; the gov't needs to do that. Fine, but you have to pay for it.

 

[GeezerMan]

Originally posted by: frostedflakes
No, government needs to raise taxes. If Americans actually had to pay for all the crap they feel they're entitled to, people might start to reconsider government's role in their lives. Instead we just deficit spend like mad, which shields citizens from the actual cost of government.

Exactly. Right now, we are like a college freshman with his first Mastercard. Max it out,and just pay the minimum payment. No worries. If the treasury just printed money when needed, the instant inflation would be a wake up call to Americans. You want all of those nice Federal programs? You gonna feel the cost of it right NOW.

 

[waggy]

Originally posted by: GeezerMan

Originally posted by: frostedflakes
No, government needs to raise taxes. If Americans actually had to pay for all the crap they feel they're entitled to, people might start to reconsider government's role in their lives. Instead we just deficit spend like mad, which shields citizens from the actual cost of government.

Exactly. Right now, we are like a college freshman with his first Mastercard. Max it out,and just pay the minimum payment. No worries. If the treasury just printed money when needed, the instant inflation would be a wake up call to Americans. You want all of those nice Federal programs? You gonna feel the cost of it right NOW.

which makes me terrified as to what is going to happen when it all comes due.

 

[microbial]

We are the Government.

 

[BoberFett]

Originally posted by: frostedflakes
No, government needs to raise taxes. If Americans actually had to pay for all the crap they feel they're entitled to, people might start to reconsider government's role in their lives. Instead we just deficit spend like mad, which shields citizens from the actual cost of government.

:thumbsup:


Edit: I did my taxes last night and I feel like I've been violated. I'm still trying to figure out exactly what I get for my money. Shitty roads, shitty schools, unwanted wars and bailouts for the wealthy.

 

[retrospooty]

Originally posted by: Fear No Evil
April 13th is Tax Freedom Day.. which means every penny the average American has made up until today goes to the government. Its kind of freightening when you think about it. It was wrong when Bush did it, its wrong when Obama is doing it. Government needs to FINALLY say enough is enough and we need to stop spending! How long until we are working 50% of the time just to support government spending?

Who said it was wrong when Bush did it? Sounds like you are blaming America first on this one. Yes there is a lot of waste in the govt. but you know what?

Name me a country with a better system of govt... Go ahead, I dara ya.

 

[boomerang]

Originally posted by: microbial
We are the Government.

Theoretically, yes. In actuality, it's whatever rich folks have got their fist up the ass of the administration in the White House at any given time.

 

[StageLeft]

Originally posted by: GeezerMan

Originally posted by: frostedflakes
No, government needs to raise taxes. If Americans actually had to pay for all the crap they feel they're entitled to, people might start to reconsider government's role in their lives. Instead we just deficit spend like mad, which shields citizens from the actual cost of government.

Exactly. Right now, we are like a college freshman with his first Mastercard. Max it out,and just pay the minimum payment. No worries. If the treasury just printed money when needed, the instant inflation would be a wake up call to Americans. You want all of those nice Federal programs? You gonna feel the cost of it right NOW.

Speaking of which I heard yesterday that the average college senior has $4k in credit card debt. Already to be that high, utter fail. I will teach my kids better than that.

 

[palehorse]

Originally posted by: ericlp
Edit, I don't think anyone knows what a trillion dollars is. I think your a little too late. Hell, if bush can spend 6-7 trillion in 8 year I don't see why Obama can't spend 3 or 4 trillion in his 4 years... What's your problem?

uhhh, your math is way off. Obama is on a pace to spend 3-4 trillion in just his first year alone.

I figured we'd be screwed just trying to pay down the debt on bushes tab. Now if Obama can't turn things around with his plan then yeah... Were gonna be toast. China will own and laugh at us idiots even harder. If you gave bush 8 years, why not give obama a few years to see if he can make it better? I'm will to give him a chance just like I gave bush a chance.

See above.

Obama's spending habits are making Bush's spending habits look like a day in the park.

That said, the real problem is Congress. Both sides of the aisle are out of control. Period.

 

[retrospooty]

Originally posted by: palehorse

Originally posted by: ericlp
Edit, I don't think anyone knows what a trillion dollars is. I think your a little too late. Hell, if bush can spend 6-7 trillion in 8 year I don't see why Obama can't spend 3 or 4 trillion in his 4 years... What's your problem?

uhhh, your math is way off. Obama is on a pace to spend 3-4 trillion in just his first year alone.

I figured we'd be screwed just trying to pay down the debt on bushes tab. Now if Obama can't turn things around with his plan then yeah... Were gonna be toast. China will own and laugh at us idiots even harder. If you gave bush 8 years, why not give obama a few years to see if he can make it better? I'm will to give him a chance just like I gave bush a chance.

See above.

Obama's spending habits are making Bush's spending habits look like a day in the park.

That said, the real problem is Congress. Both sides of the aisle are out of control. Period.

You arent account for the differences... Bush spent his way into this mess - Obama is spending to get us out. you act like the bailouts and stimulus "just for fun" type ventures. It sucks rocks, but we have to do it, or we WILL be in depression.

 

[palehorse]

Originally posted by: retrospooty

Originally posted by: palehorse

Originally posted by: ericlp
Edit, I don't think anyone knows what a trillion dollars is. I think your a little too late. Hell, if bush can spend 6-7 trillion in 8 year I don't see why Obama can't spend 3 or 4 trillion in his 4 years... What's your problem?

uhhh, your math is way off. Obama is on a pace to spend 3-4 trillion in just his first year alone.

I figured we'd be screwed just trying to pay down the debt on bushes tab. Now if Obama can't turn things around with his plan then yeah... Were gonna be toast. China will own and laugh at us idiots even harder. If you gave bush 8 years, why not give obama a few years to see if he can make it better? I'm will to give him a chance just like I gave bush a chance.

See above.

Obama's spending habits are making Bush's spending habits look like a day in the park.

That said, the real problem is Congress. Both sides of the aisle are out of control. Period.

You arent account for the differences... Bush spent his way into this mess - Obama is spending to get us out. you act like the bailouts and stimulus "just for fun" type ventures. It sucks rocks, but we have to do it, or we WILL be in depression.

How does the koolaid taste today?

I voted for Obama, yet I will never buy into the "spend more to save us" bullshit. My question for you is this: How many more stimulus packages and bailouts are you willing to suffer?

EDIT: From your signature, it appears as though there might be hope for you yet... you're g'damn right his spending is starting to "stink"!

 

[frostedflakes]

Originally posted by: retrospooty

Originally posted by: palehorse

Originally posted by: ericlp
Edit, I don't think anyone knows what a trillion dollars is. I think your a little too late. Hell, if bush can spend 6-7 trillion in 8 year I don't see why Obama can't spend 3 or 4 trillion in his 4 years... What's your problem?

uhhh, your math is way off. Obama is on a pace to spend 3-4 trillion in just his first year alone.

I figured we'd be screwed just trying to pay down the debt on bushes tab. Now if Obama can't turn things around with his plan then yeah... Were gonna be toast. China will own and laugh at us idiots even harder. If you gave bush 8 years, why not give obama a few years to see if he can make it better? I'm will to give him a chance just like I gave bush a chance.

See above.

Obama's spending habits are making Bush's spending habits look like a day in the park.

That said, the real problem is Congress. Both sides of the aisle are out of control. Period.

You arent account for the differences... Bush spent his way into this mess - Obama is spending to get us out. you act like the bailouts and stimulus "just for fun" type ventures. It sucks rocks, but we have to do it, or we WILL be in depression.

The problem is the spending doesn't stop. Even in 2019, long after the economy has (hopefully) recovered, the White House is projecting a deficit of like $700 billion. And the CBO projections are even worse at $1.2 trillion in 2019.

 

[BigDH01]

Originally posted by: Fear No Evil
April 13th is Tax Freedom Day.. which means every penny the average American has made up until today goes to the government. Its kind of freightening when you think about it. It was wrong when Bush did it, its wrong when Obama is doing it. Government needs to FINALLY say enough is enough and we need to stop spending! How long until we are working 50% of the time just to support government spending?

I'm trying to figure out what I pay in federal taxes (as it appears your rant is mainly targeted at the federal gov't). I file as single and fall into the 25% tax bracket (which is somewhat a misnomer as only part of my income is taxed at 25%). However, with deductions and credits my effective rate is quite a bit lower. My fiance and I were helped a bit due to regional disasters and us receiving extra money due to lifetime learning credits, too be honest, but even still our effective rates were quite a bit lower than 33%. Without the benefit of living in a disaster area, my effective rate was 10%. This is after deductions I get to take for student loan interest, capital losses (which amounted to quite a bit last year), charity, and my normal lifetime learning credit. With the expanded LLC, I paid an effective rate of 5%. My fiance graduated last May but still fell into the 25% bracket. With the expanded LLC, she paid an effective rate of 2%. Without the expanded LLC, she would've paid about 15% (she basically has no student loan debt). Neither of us can claim the mortgage interest deduction, which I am sure is not true of many people here.

When I look up the per capita income for my area, I see that we each made quite a bit more than the average. In fact, we both make more than the national median for individual income for people 25 or older. I doubt most people get to claim the LLC, but I'm sure many people get to claim mortgage interest.

Throw in another 7.65% for SS and Medicare and I still fall way short of 33% in federal obligations. I owed about 4.5% to the state (where I only get deductions for capital losses and student loan interest) and I live in a relatively high-tax state. I guess I just don't feel like I'm hugely burdened by the gov't or that I work just to pay them. Maybe I'd hit 33% if I included every tax I pay, but then you can't really blame the federal government for that as I imagine the largest component would be property tax and sales tax.

I guess I just don't see why you'd levy so much blame against the federal gov't for this 33% burden when the average American almost certainly pays much less than 33% in federal taxes. Maybe if I fell in a higher bracket and couldn't claim any deduction I'd get close, but then again most Americans have some sort of deduction they can claim and fall into a much lower bracket.

After a cursory Google search, I found that the CBO claims the effective tax rate in 2005 was 20.5%, about what I would expect given what I pay. You can read the article here. And the 20.5% number is a bit skewed as it is an average of all Americans, including the highest quintile. If we assume that the average American is in the middle quintile, then the effective rate for all federal taxes is 14.2%. That includes social insurance taxes... well, you can read the article.

 

[JSFLY]

Originally posted by: palehorse

Originally posted by: retrospooty

Originally posted by: palehorse

Originally posted by: ericlp
Edit, I don't think anyone knows what a trillion dollars is. I think your a little too late. Hell, if bush can spend 6-7 trillion in 8 year I don't see why Obama can't spend 3 or 4 trillion in his 4 years... What's your problem?

uhhh, your math is way off. Obama is on a pace to spend 3-4 trillion in just his first year alone.

I figured we'd be screwed just trying to pay down the debt on bushes tab. Now if Obama can't turn things around with his plan then yeah... Were gonna be toast. China will own and laugh at us idiots even harder. If you gave bush 8 years, why not give obama a few years to see if he can make it better? I'm will to give him a chance just like I gave bush a chance.

See above.

Obama's spending habits are making Bush's spending habits look like a day in the park.

That said, the real problem is Congress. Both sides of the aisle are out of control. Period.

You arent account for the differences... Bush spent his way into this mess - Obama is spending to get us out. you act like the bailouts and stimulus "just for fun" type ventures. It sucks rocks, but we have to do it, or we WILL be in depression.

How does the koolaid taste today?

I voted for Obama, yet I will never buy into the "spend more to save us" bullshit. My question for you is this: How many more stimulus packages and bailouts are you willing to suffer?

EDIT: From your signature, it appears as though there might be hope for you yet... you're g'damn right his spending is starting to "stink"!

Palehorse, I highly doubt you actually voted for Obama. I think your just saying that to sound bipartisian, and thus insulate yourself from attack.

It's easy to criticize the stimulus and bailouts sitting nice and comfortable in your armchair, not so easy when your the POTUS and the American people want action. Would you rather Obama did nothing and just let AIG, Citi, Chrysler, GM fail? Do you have a better solution than the ridiculous Republican proposal of tax cuts and spending freeze? It's so easy to criticize months after in hindsight, not so easy when you actually have to make decisions and come up with solutions.

I will never buy into the "spend more to save us" bullshit.

Why do you think Obama is spending so much with regards to energy reform, health care, and education? Oh because he wants to put our country into greater debt, not because he wants to make investments that will pay off in the future right?

Originally posted by: frostedflakes

The problem is the spending doesn't stop. Even in 2019, long after the economy has (hopefully) recovered, the White House is projecting a deficit of like $700 billion. And the CBO projections are even worse at $1.2 trillion in 2019.

Obama has addressed this issue, look at the 2nd post in this thread.