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obama predicts 1.3 Trillion DEFICIT!

Did OP read his link?

That article outlines the budget plan that lowers that amount to 901B while lowering rates on corporations in most brackets while following Tom Coburns plan to get rid of loopholes.

Seems kinda conservative to me.
 
Craig234 said:
Typical Republican ignorant crazy. What happened to the deficit under Republicans?

Oh that's right, they always skyrocket it up - and hand a financial crash to Obama.
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OK. What has he done to fix it? Not a fucking thing. Obama Harry Reed and that bitch Pelosi have only driven it even harder into the ground.
 
pcgeek11 said:
OK. What has he done to fix it? Not a fucking thing. Obama Harry Reed and that bitch Pelosi have only driven it even harder into the ground.
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orly.gif
 
I agree, others before Obama have raised the deficit and it was wrong. This does not mean we should keep doing the wrong thing simply because others did the wrong thing in the past.
 
So......what's the rush about harping on Obama after only three years in office when he's trying to, and apparently succeeding in, reversing that huge slo-mo financial train wreck Bush/Cheney took eight years to do?

If trends go the way they usually do, it takes a whole lot longer to fix something than to break it,especially something as large as the nation's economy.

But the economy is slowly improving, and the more it does, the less of a factor the deficit will be. OH wait! So.....that's what the bum rush on Obama is all about. The Repubs want to nail him for not fixing something they took eight years to screw up to deflect blame from themselves and to maximize the deficit's impact on Obama's chances to get re-elected before this deficit playing card of theirs gets buried under the tall stack of obscure obsolete attacking points the Repubs have accumulated since Obama took office.

edit - This lame blame game the Repubs are playing is about to get called on account of insignificance and lack of interest. 😉
 
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Matt1970 said:
smrx1huede2nra9ekfcpqg.gif
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And the Repub's standing policy of complete and utter obstructionism in the House and rule by minority in the Senate, all this while blaming the sluggish progress the economy is mired in on Obama has nothing at all to do with this chart?

Be proud. Your efforts in keeping the economy from growing is working marvelously. 🙂
 
JEDI said:
thought he had to cut govt spending in order to raise the debt ceiling?
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All they (Republicans and Democrats) did was cut a small portion of federal discretionary spending, which is only a small portion of the overall budget. Then they all held press conferences and congratulated themselves.
 
tweaker2 said:
And the Repub's standing policy of complete and utter obstructionism in the House and rule by minority in the Senate, all this while blaming the sluggish progress the economy is mired in on Obama has nothing at all to do with this chart?

Be proud. Your efforts in keeping the economy from growing is working marvelously. 🙂
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And the dems that nearly shut down the country because they couldn't cut 33 billion from a nearly 4trillion budget. The House already passed a 1 year social security tax cut but the democraticly lead senate refused it and passed a 2 month instead. You are truly only going to see things one way so good luck in ever being open minded about anything.
 
This is an awful plan for several reasons and it really will meet neither of the state's the goals (being punitive and increasing federal revenue):

It doesn't do means testing.
It raises taxes, will cause even more money to be in circulation.
It won't lower the marginal corporate tax rate enough for job creation (15% or less is necessary to attract foreign companies to come here). If the corporate tax rate is reduced by 10 points (which isn't enough of a reduction), then Buffet will still pay close to 55% of his income in federal taxes. He's pays about 1/2 now.
It still supports additional spending.

It's be less worse if they just lifted all import quotas and foreign trade-related regulations and got the extra revenues (even though more revenue really isn't necessary) from a 10% tax on all imports. They could strengthen those revenues by reducing the corporate tax rate to 10-15% and make health care cheaper taking away the deduction for providing health care. They should allow personal deductions for all health care expenses although the government would never due that due to the revenue loss. The flat tariff and removal (or at least large reduction) of trade regulations would cause the price of sugar and other things to go down and the government wouldn't suffer because revenues wouldn't go down.
 
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