Obama: 3 Year freeze on discretionary spending

[Craig234]

it's a good start... a really really small one... but, it's a start.

On another note, who the hell suggests military cuts while a country is at war on multiple fronts all over the world?!

Someome who wants us to not be at war on multiple fronts all over the world?

But I think the answer had largely to do with cutting other mlitary spending the wars.

 

[Craig234]

Any idea of how much money we would raise if we taxed these guys at a 40% rate for all of their income???

The top 25 hedge fund managers made $11.6 billion in 2008. Even at 40% that amounts to only $4.6 billion in additional taxes.

So instead of having a $1.5 trillion deficit we would only have a $1.495 trillion deficit.... wooohoo on the way to balanced budget now

How much was the income of the top 2%?

No tax is going to touch the $1.5 trillion emergency deficit in a year, but they can normal deficits.

 

[Zebo]

You think warfare is cheap?! ummm, no. It's disturbingly expensive. Hell, just moving troops from point A to B in a combat zone is expensive as all hell; not to mention feeding them, equipping them, arming them, and training them. (Also, please don't forget that "arming and equipping" involves everything from simple uniforms and M4's to aircraft carriers, satellites, and high-tech bombers).

And no, the military is not a fucking "welfare" program. The difference? We actually work for all of our "handouts," thanks.

Seriously, who the fuck threatens to cut military spending in a time of war? That's just sick... "Support the Troops" my ass!

Save your shit. Been there, never been in a place with such high concentration of wastes of oxygen in my life. When you start killin again instead of worrying about cultural development and bennies call me. Until then you are a waste of money.

Maybe you can explain why a rag tag militia spending about 100 million is whooping our ass with 100000 million spent?

We are so pathetic we are paying people in Iraq not to attack us and paying the biggest drug lord in Afg (Hamid Karzai bro) not to attack us. About to pay off Taliban and split. Yeah that's winning. Fucking ridiculous. Who do they think they are fooling?

 

[Throckmorton]

You know what you call cutting government spending during a recession? A Great Depression.

 

[Hacp]

You know what you call cutting government spending during a recession? A Great Depression.

The conditions are quite different from what was happening during the Great Depression. There are still jobs being created, but not in the US. These jobs are being outsourced and sometimes moved directly to India and China and the only way we can get them back is by cutting taxes drastically which entails reduced government spending.

 

[Generator]

Sometimes I wonder what it be like if McCain won...I realize now so does Obama.

 

[Craig234]

Sometimes I wonder what it be like if McCain won...I realize now so does Obama.

Much worse.

 

[dmcowen674]

I hope he starts with all Republican placed discretionary spending.

 

[Patranus]

LOL - He had his 800 billion dollar "stimulus" package and now they are purposing a 200 billion dollar "jobs" package.

But wait a minute, less than 20% of the original "stimulus" package has been spent.....now if the fund are allocated but haven't been spent, why spend another 200 billion?

Is it to make the appearance that the Obama administration is actually doing something?

I don't know...something sounds pretty "discretionary" about a lot of this new spending.

 

[StageLeft]

Great so over the next decade he saves 2 months worth of deficit, color me extremely impressed.

 

[Genx87]

Someome who wants us to not be at war on multiple fronts all over the world?

But I think the answer had largely to do with cutting other mlitary spending the wars.

Explains why Obama wont be cutting the military then.

 

[Genx87]

How much was the income of the top 2%?

No tax is going to touch the $1.5 trillion emergency deficit in a year, but they can normal deficits.

You mean the 1 trillion expected "normal" deficits?

 

[Genx87]

Govt spending is half of GDP http://www.usgovernmentspending.com/

They get a hell of a lot more than 20%..I'm not sure how it amalgamates though.

I said fed govt reciepts.

http://online.wsj.com/article/SB121124460502305693.html

What you have there is total federal and state spending. Cool site though. If you look at the spending as a % of GDP. It hovers right around 20% until very recently.

 

[Craig234]

Explains why Obama wont be cutting the military then.

For another theory, read Eisenhower's farewell address.

 

[rudder]

Sometimes I wonder what it be like if McCain won...I realize now so does Obama.

About the same....

http://www.breitbart.tv/flashback-obama-ridicules-mccains-call-for-spending-freeze/

Only we would have known what people had voted for with McCain.

 

[Robor]

You think warfare is cheap?! ummm, no. It's disturbingly expensive. Hell, just moving troops from point A to B in a combat zone is expensive as all hell; not to mention feeding them, equipping them, arming them, and training them. (Also, please don't forget that "arming and equipping" involves everything from simple uniforms and M4's to aircraft carriers, satellites, and high-tech bombers).

And no, the military is not a fucking "welfare" program. The difference? We actually work for all of our "handouts," thanks.

Seriously, who the fuck threatens to cut military spending in a time of war? That's just sick... "Support the Troops" my ass!

Support the troops - bring them home.

 

[BigDH01]

The conditions are quite different from what was happening during the Great Depression. There are still jobs being created, but not in the US. These jobs are being outsourced and sometimes moved directly to India and China and the only way we can get them back is by cutting taxes drastically which entails reduced government spending.

How is that going to work? Is that suddenly going to get China to de-peg their currency? Will that remove the abundance of labor in those countries?

 

[ichy]

Lipstick on a pig. Until someone grows the balls to start slashing entitlement programs (and that won't be easy, we're talking about reducing the Medicare prescription drug benefit, kicking people off of Medicare, etc) nothing serious will happen to the deficit.

 

[DesiPower]

irrelevant, bottom line spending stays the same.

 

[3chordcharlie]

The measure that stopped a 2nd great depression was passed and signed into law before Obama was even elected.

But he's also being 'credited' with the deficit that measure created.

Pick a fucking side already, would ya Kerry?

 

[Vic]

A freeze is not enough. We need a reduction on all spending.

Every long journey begins with a single step.

 

[PingSpike]

Obama to level fund popular free beer helmets for kids program.

 

[IceBergSLiM]

another joke.

 

[PingSpike]

Every long journey begins with a single step.

Does wiggling my big toe count as a step?

 

[SunSamurai]

Yes, it's hilarious. You have a point, since Republicans slashed the deficit to alll-time lows for 12 years with Reagan on, and then Bill Clinton shot it up every year for 8, and then George W cut it back low again.

http://www.skymachines.com/US-National-Debt-Per-Capita-Percent-of-GDP-and-by-Presidental-Term.htm

WAT