Jan 27, 2011 9:54am
New Spending + Reducing Deficit = ?
EmailLast night on World News we tried to crunch some rough numbers on the president's preliminary proposals:
-Jake Tapper
Last night on World News we tried to crunch some rough numbers on the president's preliminary proposals:
-Jake Tapper
Is Congress Sounding Dumber? 
Sonia Sotomayor Speaks to NYU Graduates
Surely the president has a plan. He just didn’t want to mebtion it in the SOTU. Wouldn’t be prudent.
“WASHINGTON – Sick and getting sicker, Social Security will run at a deficit this year and keep on running in the red until its trust funds are drained by about 2037, congressional budget experts said Wednesday in bleaker-than-previous estimates.”
Posted by: Fascist Hyena | January 27, 2011, 10:16 am 10:16 am
This report could have been a lot harsher. His dual visions are contradictory at best and most likely outright lies used to deceive the gullible among us.
He wants to appear to be cutting the deficit (of course after he ran it up something fierce these past 2 years) to independents while increasing spending to appease his base. This is pure political gamesmanship and he should be called on it often in the months to come.
Posted by: J.R. | January 27, 2011, 10:28 am 10:28 am
The day after SOTU: CBO revises deficit to $1.5 Trillion, CBO announces Social Security running a deficit and will run out of money in 2037, HHS posts more than 500 new waivers for Obamacare, HHS says cost-savings from Obamacare false.
Where are the White House reporters?
Posted by: Dave in colorado | January 27, 2011, 10:37 am 10:37 am
No one can say Speaker Antoinette didn’t do her part:
“If the US Airforce did all airline food, it would be strawberries dipped in dark chocolate and grilled chicken salads all round.
“Unfortunately this luxury is reserved for top US politicians alone, as new documents detailing Nancy Pelosi’s travel expenses reveal.
“The former House Speaker was showered with a cornucopia of gourmet food and alcohol as she travelled over 90,000 miles around the world in just nine months last year – all courtesy of the US Airforce.”
Posted by: Fascist Hyena | January 27, 2011, 10:55 am 10:55 am
Obama only knows how to spend…..he does NOT know how to cut.
Posted by: Rick McDaniel | January 27, 2011, 11:07 am 11:07 am
He must think we are the stupidest people on earth to believe you can keep spending your way out of debt. He has never been in business that is for sure.
Posted by: Freedom | January 27, 2011, 11:29 am 11:29 am
People have caught on already:
“Rasmussen Reports asked voters the same three questions about the president’s economic proposals on the two nights prior to the speech and then again on Tuesday and Wednesday nights.
“On the first two nights, 39% supported the proposals. On the next two nights, support was 41%.
“Fifty percent (50%) of Likely U.S. Voters now oppose the federal government spending more money in areas like education, transportation and technological innovation, up from 45% in the previous survey. Forty-one percent (41%) favor the idea, a two-point increase from before.”
Posted by: Fascist Hyena | January 27, 2011, 11:55 am 11:55 am
New Spending + Reducing Deficit = Dazed and Confused President B.H. Obama
A left heavy friend of mine said to me today
“What’s wrong with Obama cutting spending and increasing spending at the same time? That way we take care of the deficit problem and get the new programs we want.”
Oh Boy!
At least he is aware that the deficit is a problem.
Posted by: Noz | January 27, 2011, 11:56 am 11:56 am
This makes about as much sense as Gov. Abercrombie’s excuse for not producing Barack Obama’s birth certificate.
Posted by: Nephron | January 27, 2011, 12:19 pm 12:19 pm
Tell the Congress to Pass Cutting in Social Security and Medicare. What’s the poblem???? Americans want the DEFICIT under CONTROL….Leave our children’s EDUCATION ALONG!!!
Posted by: raven | January 27, 2011, 12:47 pm 12:47 pm
This is Why the republicans shouldn’t “sneak” and pass things like Medicare Part D, 2 Wars and Tax Cuts to the Wealthy. NOW they’re looking for the Dems to FIX it too. Boehner and his Congress should pass Cuts in Social Security and MEDICARE/MEDICAID in the House. Why are they Not doing Anything about the DEFICIT instead of TALKING how “dire” it is?
Posted by: raven | January 27, 2011, 12:50 pm 12:50 pm
“WASHINGTON – Sick and getting sicker, Social Security will run at a deficit this year and keep on running in the red until its trust funds are drained by about 2037, congressional budget experts said Wednesday in bleaker-than-previous estimates.”
Posted by: Fascist Hyena | Jan 27, 2011 10:16:37 AM
Now, now, don’t worry your little head, Fascist Hyena. Harry Reid says that Social Security is JUST FINE and is paid for over the next 40 years. And we all know how trustworthy Harry is…wink, wink.
Posted by: Shoe | January 27, 2011, 1:04 pm 1:04 pm
“Leave our children’s EDUCATION ALONG!!!”
Oh the irony.
Posted by: J.R. | January 27, 2011, 1:13 pm 1:13 pm
“This is Why the republicans shouldn’t “sneak” and pass things like …”
Sneak?? What on Earth are you referring to? It’s not like they passed them using gimmicks and parliamentary tactics instead of a straight vote.
“Why are they Not doing Anything about the DEFICIT instead of TALKING how “dire” it is?”
Geez man, they’ve been in office now what a week and a half? I guess you’re just use to bills being rammed down our throats without debate.
Posted by: J.R. | January 27, 2011, 1:16 pm 1:16 pm
War is Peace
Freedom is Slavery
Ignorance is Strength
Posted by: Joe White | January 27, 2011, 1:39 pm 1:39 pm
Look, the government can really do marvelous things. It’s just a matter of getting the right folks in charge, that’s all:
“The nation’s fourth-largest housing authority spent lavishly on gifts for managers and a party with belly dancers, and its executive secretly spent more than $500,000 in housing authority funds to settle sexual harassment claims, but it allegedly ignored complaints of unsanitary conditions that nearly killed a 12-year-old resident.
“The excesses of the Philadelphia Housing Authority, however, are not unique. As Nightline found in a joint investigation with the Center for Public Integrity, the federal government’s low-income housing programs, which cost taxpayers $26 billion a year, are plagued by theft, mismanagement and corruption at local levels, including millions spent on housing for sex offenders and dead people, and all too often fail the 3 million families who rely on them for a clean, safe place to live.”
Posted by: Fascist Hyena | January 27, 2011, 1:42 pm 1:42 pm
“New targeted investments + targeted spending cuts = economic recovery. ”
I suppose there are people in America who actually believe that. And of course it is the wonderful wizards in our bankrupt government who will pick the “targets.” We just know they’ll get it right, don’t we?
Posted by: Fascist Hyena | January 27, 2011, 1:45 pm 1:45 pm
Mickey Kaus gets it…
“I’m not saying Obama’s (and Bush’s) stimulus spending and health care spending wasn’t justified. I’m saying at some point soon we’re supposed to bring deficits back into a normal range. Obama used to talk as if his idea was to spend in the short term and balance the budget in the long term. That’s gone. Last night he sided with the left and the pollsters against significant cuts in Social Security—as Kilgore put it, he’s “refused to offer Republicans the cover they crave for ‘entitlement reform.’” Cutting deficits costs votes, a mistake Ronald Reagan for one learned not to make (at least not without a Social Security crisis) before coasting to a second term in 1984. In essence, the president seems to have chosen his own reelection over the nation’s long-term economic security. Obama comes first. The future he is winning is his own.”
Posted by: Foghorn Leghorn | January 27, 2011, 1:50 pm 1:50 pm
This is crazy!!!!..am I really hearing this again?? infrastructure, green energy, education, battery operated cars…wasn’t that the failed stimulus?? the FAILED stimulus???
Posted by: cindy | January 27, 2011, 2:34 pm 2:34 pm
The reality of Obama economic policy- new initial jobless number 454,000.2 years of excuses, titanic spending and horrendous debt-454,000.
Posted by: Nephron | January 27, 2011, 3:15 pm 3:15 pm
raven—”This is Why the republicans shouldn’t “sneak” and pass things like Medicare Part D, 2 Wars and Tax Cuts to the Wealthy. NOW they’re looking for the Dems to FIX it too. Boehner and his Congress should pass Cuts in Social Security and MEDICARE/MEDICAID in the House. Why are they Not doing Anything about the DEFICIT instead of TALKING how “dire” it is”– Are you serious??? Medicare part D was a DEMOCRAT ENDORSED bill that republcians sided with to ease existing problems within the system — it wasn’t “snuck in” itwas out in the open , fully debated and supported by just as many democrats as republicans.. as far as the 2 wars are concerned,, thats non budegetary spending and again.. the decision to go to was was fuly supported by democrts during the war powers act vote.. (they only started calling Bush’s illegal war when it lost some popularity among the far left.. but check the record, they voted for it too).. tax cuts for the wealthy.. I love this one.. Please explain how it was “tax cuts for the wealthy” when Bush passed it, but now its referred to as extending the “Middle class tax cuts” by Obama.. So which were they .. cuts for the rich, or cuts for the middle class?? AND the republicans ARE doing something about the deficit.. hter are already proposals to introduce Medicare vouchers to save money, to raise the retirement age for social security and to allow for some of the SS taxes to be diverted to prvate accounts to offset the shortfalls, they have already voted to repeal the healthcare bill (an action that is now supported by over 60% of America).. but i have news for you.. the republicans still don’t control the senate.. so they are limited.. reid has already said that he would not even support cutting earmarks… do you really think the dems are going to fall in line behind house repubicans??? For now they will do what they can until the democratic majority and the presidency can be taken back in 12.. then things MIGHT get done..
Posted by: arkie vet | January 27, 2011, 4:46 pm 4:46 pm
Don’t worry–maybe the president will address this issue in next year’s SOTU:
“The top numbers cruncher for Congress warned Thursday that the federal government increasingly risks sending the country into a ‘fiscal crisis’” projecting that unless cuts are made, within a decade the national debt could reach nearly 100 percent of all annual economic activity. That’s like having $50,000 in debt on a $50,000-a-year salary.”
Posted by: Fascist Hyena | January 27, 2011, 5:07 pm 5:07 pm
new spending + redused deficit = still broke.
Posted by: LongT | January 28, 2011, 8:32 am 8:32 am
“Elmendorf stuck to the CBO forecast that the health care law Congress passed last year will reduce future deficits. He repeated CBO’s previous estimate said repeal of the law would add $230 billion to future deficits over the next several years. ”
WSJ: “Gross domestic product rose at an inflation-adjusted annual rate of 3.2% last quarter “as Americans spent more, suggesting the recovery may pick up speed this year.”
Bloomberg: “For all of 2010, the world’s largest economy expanded 2.9 percent, the most in five years, after shrinking 2.6 percent in 2009. The median forecast of 59 economists surveyed a year ago projected the U.S. would expand 2.7 percent.”
Posted by: Alyson | January 28, 2011, 9:43 am 9:43 am
Investments take time to capitalize on. We should take a lesson from China. Americans revolve around instant everything. You don’t invest in something with short sighted vision. We are already lagging behind and have given China technology that they’ve perfected and capitalized on.The GOP would prefer to bury their heads in the sand, keep us dependent on oil,dependent on archaic technology and energy sources, prisoners to big corporations, and ignorant to their underhanded agenda. The future is here, and the longer it takes people to recognize it, the farther we slip as a nation.And the escalating deficit is a two way street. An economic crisis, that could have been averted, two unpaid wars, and record unemployment increases, all before Obama became POTUS.And now the fear mongering has began. There are two sides to the social security issue, but the fearful side is the one you’ll hear now. The GOP’s goal is to privatize, a bad idea all the way around.The stimulus is the only thing that turned things around and kept this country from complete financial collapse.The GOP’s goal is to hand over our votes to outside interests, starve all social programs for the poor and middle class, and turn our country in to the haves and have nots. High speed rail could create jobs, give those of us in rural areas access to jobs in cities 80 miles away, access to shopping, entertainment and travel. Without selling the farm. Make Internet options available, and affordable for us in rural areas. Modern heating, without the smell of smoke clogging the country air, and our children more opportunities through education.
Posted by: Bea | January 28, 2011, 10:36 am 10:36 am
Look, if you make $100 a year, and spend $150 a year, you have a $50 deficit.
If you wanted to increase spending to $250 a year while reducing your deficit to $25 a year, then you need an income increase from $100 to $225 a year.
The only way government can increase it’s ‘income’ is to increase taxes. It’s the only way.
So, when Obama says “I am going to increase spending and reduce the deficit” what he is saying is “Here comes the tax increases”.
It is his only option.
Posted by: Joe White | January 28, 2011, 11:19 am 11:19 am
Look, if you make $100 per year and spend $150 and much of that $150 is spent inefficiently and on the wrong things, it makes sense to (1) cut your spending in half, weeding out the inefficiencies, and then invest a portion of that money on things that will improve your income, life, competitiveness so that roughly half of it draws down your debt and the rest keeps you in from becoming out of date or extinct.
When you go on a diet, it makes sense to cut calories, but to also change what and how you intake and burn calories to get the best bang for your buck. You don’t want to become lethargic, or cut yourself down to 500 calories per day all from cupcakes.
Posted by: Alyson | January 28, 2011, 3:14 pm 3:14 pm