Obama Unveils 2011 Budget With $3.83T In Spending

• tk421

  

  http://www.businessweek.com/ap/financialnews/D9DJEPOO1.htm
  
  I didn't watch the State of the Union, but I know Obama "promised" to work on lowering the unemployment rate but this is crazy. This country doesn't need an almost $4T budget. We have a thread on here asking if government can create jobs, well I guess Obama and the administration are going to try their hardest, no matter the consequences.
  
  So much for controlling spending and worrying about the deficit. :@
• ptown_trojans_1

  

  While we are at it.
  Here is the budget:
  http://www.whitehouse.gov/omb/budget/Overview/
  
  Keep in mind, 95% of this will change as Congress rarely adheres to the proposed budget.
• derek bomar

  

  The majority of this is medicare, defense and interest right?
• ptown_trojans_1

  

  Well the NNSA part of the DoE, who oversees our nuclear weapons infrastructure, had their budget raised from 9 to 11 billion. Also the Pentagon raised their about a 100 billion. So, yea mostly defense. The administration also raised the nuclear weapons Stockpile Stewardship Program (which ensures our weapons are reliable without testing) by 25%.
  
  http://nnsa.energy.gov/management/documents/3-Page_Fact_Sheet.pdf
• tk421

  

  ptown_trojans_1 wrote: Well the NNSA part of the DoE, who oversees our nuclear weapons infrastructure, had their budget raised from 9 to 11 billion. Also the Pentagon raised their about a 100 billion. So, yea mostly defense.

  Which is why Obama's proposed spending "freeze" is such a joke. It won't include the Pentagon, so most of the budget won't be affected.
• ptown_trojans_1

  

  tk421 wrote:

  ptown_trojans_1 wrote: Well the NNSA part of the DoE, who oversees our nuclear weapons infrastructure, had their budget raised from 9 to 11 billion. Also the Pentagon raised their about a 100 billion. So, yea mostly defense.

  Which is why Obama's proposed spending "freeze" is such a joke. It won't include the Pentagon, so most of the budget won't be affected.

  Well, technically, the NNSA is in the Energy Dept, not Defense. But, yeah, Energy and State Dept are also exempt from the freeze.
• I Wear Pants

  Budget brakedown.
  
  I don't know if you can see that if you aren't a subscriber of the Wall Street Journal, anyone care to test it so I know if I need to remove it or not?
  
  The deficit projections are looking a little bit better.
• FatHobbit

  

  I Wear Pants wrote: Budget brakedown.
  
  I don't know if you can see that if you aren't a subscriber of the Wall Street Journal, anyone care to test it so I know if I need to remove it or not?
  
  The deficit projections are looking a little bit better.

  I can see it.
• ptown_trojans_1

  

  Same. Interesting. Thanks.
• tk421

  

  I Wear Pants wrote: Budget brakedown.
  
  I don't know if you can see that if you aren't a subscriber of the Wall Street Journal, anyone care to test it so I know if I need to remove it or not?
  
  The deficit projections are looking a little bit better.

  Are those projections like the unemployment projection that was supposed to go no higher than 8% once Obama got his stimulus passed that was needed right then? I don't see how these are any better.
• Writerbuckeye

  

  Don't have a link, but read on another site that this budget projection includes billions of dollars in revenue from cap & steal...errr trade. Is that true?
  
  If so, it's ridiculous.
  
  Found a link...
  
  http://www.scientificamerican.com/article.cfm?id=cap-and-trade-obama-budget
• believer

  

  ptown_trojans_1 wrote: While we are at it.
  Here is the budget:
  http://www.whitehouse.gov/omb/budget/Overview/
  
  Keep in mind, 95% of this will change as Congress rarely adheres to the proposed budget.

  Which means, of course, the budget will exceed:
  [size=x-large]
  $3,830,000,000,000[/size]
• tk421

  

  I wish I had the kind of credit line the government has.
• QuakerOats

  Massive Tax Increase --- an additional 2 trillion to be exacted from the private sector... incredible.
  
  Just what we need ------------- the radical leftist continues the assault on business and freedom.
  
  http://www.bloomberg.com/apps/news?pid=20601087&sid=a0qjTENMi9lY&pos=1
• I Wear Pants

  QuakerOats wrote: Massive Tax Increase --- an additional 2 trillion to be exacted from the private sector... incredible.
  
  Just what we need ------------- the radical leftist continues the assault on business and freedom.
  
  http://www.bloomberg.com/apps/news?pid=20601087&sid=a0qjTENMi9lY&pos=1

  If you don't support tax increases then I take it you don't support the current wars because one cannot logically support increasing expenditures like wars at the same time as tax cuts without being insane.
• Writerbuckeye

  

  MOST of the US budget is tied up in entitlements (and no, I'm not saying we shouldn't trim defense costs, too, when possible).
  
  It's possible to actually cut the budget without increasing taxes on most Americans, which is what this budget will end up doing in the long run.
  
  I am hoping Congress comes up with something much more restrained that what Obama is proposing -- but given who's running Congress, that seems like a long shot.
• IggyPride00

  

  It's possible to actually cut the budget without increasing taxes on most Americans

  It is mathematically impossible to balance this budget through spending cuts alone short of eliminating S.S, medicare and medicaid. At the current level of revenue, it is just not possible.
  
  The taxes on the those making more than $250,000 a year would cost $970 billion over the next decade to keep in place.
  
  We just can't afford that, along with alot of other things.
  
  Republicans and Democrats alike need to understand that it is going to take major cuts to social programs as well as tax increases to balance this budget.
  
  The numbers don't work otherwise.
  
  I saw McCains old campaign economic advisor today saying we would have a similarly outrageous deficit were he President instead of Obama, because alot of the deficit is structural. He would have increased spending just as bad, just in different areas than BHO, and any tax cut he would have pushed through would likely have been every bit as expensive as the stimulus was in terms of the hole it would have blown in the budget.
  
  Things are completely out of control with the budget situation, and we are still at square one because Congress is made up of ideologues.
  
  Democrats think money literally grows on trees, and Republicans think tax cuts are free and don't require spending offsets.
  
  The whole situation is complete madness.
• I Wear Pants

  ^This.
• eersandbeers

  Everyone on the right always whines about the budget but when we talk about cutting where it needs to be done (military spending) then they cry and say you can't cut the military budget. The military is by far the biggest waster of tax dollars in this country.
• Writerbuckeye

  

  eersandbeers wrote: Everyone on the right always whines about the budget but when we talk about cutting where it needs to be done (military spending) then they cry and say you can't cut the military budget. The military is by far the biggest waster of tax dollars in this country.

  Medicare and Medicaid fraud and waste would give it a very good run for the money.
• majorspark

  

  IggyPride00 wrote:

  It's possible to actually cut the budget without increasing taxes on most Americans

  It is mathematically impossible to balance this budget through spending cuts alone short of eliminating S.S, medicare and medicaid. At the current level of revenue, it is just not possible.
  
  The taxes on the those making more than $250,000 a year would cost $970 billion over the next decade to keep in place.
  
  We just can't afford that, along with alot of other things.
  
  Republicans and Democrats alike need to understand that it is going to take major cuts to social programs as well as tax increases to balance this budget.
  
  The numbers don't work otherwise.
  
  I saw McCains old campaign economic advisor today saying we would have a similarly outrageous deficit were he President instead of Obama, because alot of the deficit is structural. He would have increased spending just as bad, just in different areas than BHO, and any tax cut he would have pushed through would likely have been every bit as expensive as the stimulus was in terms of the hole it would have blown in the budget.
  
  Things are completely out of control with the budget situation, and we are still at square one because Congress is made up of ideologues.
  
  Democrats think money literally grows on trees, and Republicans think tax cuts are free and don't require spending offsets.
  
  The whole situation is complete madness.

  I agree. The federal government has utterly failed us economically. To keep this ship from sinking a lot of things need to be thrown overboard, things many voters are unwilling to part with. With no politician willing to step forward an convince the people of the dire need to make some sacrifices the federal government's ship will sink. Some states may jump ship in lifeboats in order to not go down with the federal ship. Who knows how this madness will end.
• IggyPride00

  

  Medicare and Medicaid fraud and waste would give it a very good run for the money.

  The biggest fraud with Medicare and Medicaid is that our government allows Big Pharma to charge the American public (by way of the government) ten, twenty, thirty times what they charge other countries for the same medication because we have to supplement the profits they aren't making elsewhere because we are the only government dumb enough to give them a blank check for what they want to charge.
  
  Over the past 2 decades, we have undertaken the role as underwriter of all drug and medical technology where we pick up the world's tab and they get the by product on the cheap.
  
  Price controls stifle innovation, but on the other hand how long is it realistic for our citizens to be stuck paying exponentially higher prices on all medical care/products because we are the only system (insurance companies and the government through medicare/medicaid) in the world that basically says to name your price no questions asked and then just pass along the cost increases down to us.
  
  That is the big elephant in the room no one wants to talk about for Medicare/Medicaid and health care spending in the future. Death panels aren't our big problem as much as reaching the breaking point at which we can no longer afford to underwrite all of the medical advances in the world because of our blank check policy to pay for innovation with no regard for cost.
• I Wear Pants

  Sometimes I wish all the people in office would get Ebola.
• jmog

  eersandbeers wrote: Everyone on the right always whines about the budget but when we talk about cutting where it needs to be done (military spending) then they cry and say you can't cut the military budget. The military is by far the biggest waster of tax dollars in this country.

  Correction-2nd biggest, the biggest by far is entitlement programs.
• Belly35

  

  Qualified Public Servant he's not