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Thread: Now we know...

  1. #31
    Senior Member M&K's Retrievers's Avatar
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    Scuse me. Obama's 2010 budget $3.55T
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  2. #32
    Senior Member menmon's Avatar
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    That is just absolutely incorrect! Now I know you are a Beck/Ruch junkie!

  3. #33
    Senior Member M&K's Retrievers's Avatar
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    Pay attention now. I said budget not deficit.
    Last edited by M&K's Retrievers; 02-04-2010 at 11:02 AM.
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  4. #34
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    Sambo, add the mandatory spending and discretionary spending in the link below. It's about half way down the page, right next to the pie chart with all the pretty colors...

    http://en.wikipedia.org/wiki/2010_Un...federal_budget

    Here is some more info in case someone is curious...

    http://www.onlineforextrading.com/bl...t-broken-down/

  5. #35
    Senior Member M&K's Retrievers's Avatar
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    Quote Originally Posted by sambo View Post
    Now I know you are a Beck/Ruch junkie!
    Actually, I've never seen Beck but I hear he's pretty damn funny. I do occasionally listen to Rush whenever I can't tune in Air America. Perhaps you should do yourself a favor see what he has to say. Might surprise you.
    M&K's HR UH Tucker of Texoma JH
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  6. #36
    Senior Member Goose's Avatar
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    Sambo, you're confusing projected federal deficits with Dear Leader's proposed budget. Make no mistake that his budget approaches $4 trillion dollars.

    That's ok...most libs get dizzy when talking about such big numbers

  7. #37
    Senior Member dnf777's Avatar
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    Quote Originally Posted by Goose View Post
    Sambo, you're confusing projected federal deficits with Dear Leader's proposed budget. Make no mistake that his budget approaches $4 trillion dollars.

    That's ok...most libs get dizzy when talking about such big numbers
    Yeah, coming off an 8 year bender
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  8. #38
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    Quote Originally Posted by dnf777 View Post
    Yeah, coming off an 8 year bender
    So the spending during this last year was a little 'hair of the dog'?

  9. #39
    Senior Member Goose's Avatar
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    Quote Originally Posted by dnf777 View Post
    Yeah, coming off an 8 year bender
    I thought all the libs in Pennsylvania were in Harrisburg today? Shouldn't you be up there helping the City Council?

  10. #40
    Senior Member YardleyLabs's Avatar
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    Quote Originally Posted by Goose View Post
    Sambo, you're confusing projected federal deficits with Dear Leader's proposed budget. Make no mistake that his budget approaches $4 trillion dollars.

    That's ok...most libs get dizzy when talking about such big numbers
    I'm not crazy about the proposed budget. To be more precise, I am somewhat crazy about the proposed budget and am opposed to it.

    However, it is a bit tricky to compare Bush's budget with this one since Bush kept leaving so much out of the budget (e.g., two wars). In his last budget, Bush estimated the deficit at a little over $400 billion and never said what the total budget would be. In fact, the budget incorporated deficits of more than $1 trillion and totaled about $3.2 trillion. That $3.2 trillion was after taking advantage of a surplus of $180 billion+ from social security, a surplus that is declining each year. In projecting future years, the Bush budget assumed that all tax cuts would expire (i.e., taxes would return to the Clinton levels before the cuts in 2001 and 2002) and that the cost of the wars would end in February 2009. Of course, it also assumed that there would be no economic collapse.

    The Obama budget explicitly includes the bulk of war costs and future year projections assume that some, but not all, of the Bush tax cuts will be extended. The increase in the budget is almost entirely attributable to increases in defense expenditures and Medicare and Medicaid costs. The latter have increased about 10% as more people have become eligible for Medicaid following loss of their jobs. Some increase in deficit was inevitable given the tail end costs of the stimulus program and revenue losses from the recession. However, I believe that much sharper action is needed. Unfortunately, the non-entitlement, non-defense, and non-debt service portions of the budget are simply not big enough to contribute much to the solution. A balancing of the budget will have to include revenue increases through economic growth and through allowing almost all of the unfunded tax cuts to expire. In addition, it will require substantial cuts in defense and in entitlements. I do not see any way to eliminate the deficit without cuts in both.

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