Massive deficit spending will inevitably lead to inflation, higher taxes, and an even more monumental national debt. Only someone whose goal is the collapse of capitalism would submit budget like the ones President Obama has proposed since he has been in office.
Obama Vilifies Fossil Fuels. At the very same time that the shale revolution is saving the economy hundreds of millions of dollars per day, directly creating tens of thousands of jobs, decreasing the need for foreign oil, and spurring growth in manufacturing that will lead to billions of dollars of new investment and still more jobs, the president is bashing the oil-and-gas sector. Not only that, but in Obama's new budget, he continues to insist that "clean energy" will drive America's future competitiveness.
Obama's Budget-Busting Baloney. That wasn't a budget Barack Obama delivered to Congress. It was a campaign document. It was full of promises of "fairness," which to our President and his cronies means taking more money from those who earn it and giving it to those whom they think deserve it.
The Obama White House Is Campaign Central. [Scroll down] The President claimed in his budget address about $850 billion in savings from ending the wars and then says he will steer some $230 billion of that to highways. Well, with all due respect, there is no dividend from ending wars for which the government borrowed to pay. Common sense tells us we would have to keep borrowing that amount of money in order to spend it somewhere else.
The Real Obama. The truth is not hidden. One merely has to digest the new budget Obama unveiled last week, his budget last year, and his four major speeches since last April, and the real Obama comes into focus. He turns out to be a left-wing progressive who rejects many of the mainstream political and economic ideas of post-World War II America.
This budget guts defense. Tuesday's Associated Press report that President Obama is considering large cuts in our strategic arsenal is just the latest of this week's grim news about the president's national-defense plans. On nukes, the administration is apparently pondering reductions of up to 80 percent of deployed warheads — a breathtaking slash to our nuclear-deterrence posture. This comes on top of troubling plans outlined in the president's fiscal year 2013 budget proposal.
U.N.-Believable. A footnote tucked into the president's recently unveiled budget proposal reveals the administration's intent to resume funding for the United Nations Educational, Scientific and Cultural Organization, otherwise known as UNESCO. UNESCO caused an international firestorm last year when it accepted Palestine as a member — despite the fact that Palestine is neither a state nor a full member of the U.N.
Obama's bleak view of African-Americans. President Obama's 2013 budget doesn't address the nation's debt crisis. Instead, it is a blatant attempt to pander to his base in an election year. To make the goal even more obvious, the White House released fact sheets targeted to key constituencies highlighting programs the administration believes are suited to their needs.
The Obama Budget and Wind Power. In the 1970s and 1980s, the proponents of wind power claimed that renewables would be cost-competitive in a few years if they just received some subsidies for a few years. But thirty years later, renewables proponents are still clamoring for subsidies from U.S. taxpayers. Despite a trillion dollar deficit, President Obama is once again responding to the renewable promoters and asking Congress to approve his budget with billions of dollars in energy subsidies.
With All The Volts Counted, Taxpayers Lose Again. Tucked away in the recesses of President Obama's 2013 budget, a budget that Senate Majority Leader Harry Reid says he will not bring to the Senate floor, is a nugget that speaks volumes about the troubles we're in: While delaying the Keystone XL pipeline, the administration plans to increase the subsidy for the Chevy Volt and other "new technology" vehicles to $10,000 per car.
Obama Budget to Spend 1.5 Times as Much on Health Care as on Defense. President Obama's 2013 budget will spend 1.5 times as much money on health care as on Defense, including the cost of the continuing war in Afghanistan in 2013. According to the budget proposal, Obama will spend a combined $941 billion on federal health care spending, including Medicare, Medicaid, and funding for the Department of Health and Human Services (HHS), which administers ObamaCare programs as well as the National Institutes of Health.
Obama 2012 Budget Proposes Higher Tax Credit For Plug-In Cars. [On February 13], President Barack Obama released his proposed U.S. government budget for the fiscal year starting in October. And in it, he followed through on a promise from his State of the Union address last month, by proposing to cut up to $4 billion in subsidies to the oil and gas industry. The budget also suggested that the tax credit for purchase of an electric vehicle be raised from its current $7,500 to $10,000.
The Cost of Obama. President Obama's fourth budget has now been released, which allows for a relatively full accounting of deficit spending during his four years in office. The picture isn't pretty, but it is revealing.
How Obama will waste your money: President Obama clings to the fantasy that he can tax and spend the country out of malaise and into prosperity. Instead of showing restraint in the face of our $15.4 trillion debt, the budget he released Monday included $1.5 trillion in new outlays that will ensure plenty of cash for programs that inspire his liberal base in an election year.
Irrationality of Obama Budget Mortifies Democrats. [Scroll down] Moderator Charlie Gibson asked Obama if history shows cutting capital gains taxes increases revenues and raising capital gains taxes decreases revenues — and Gibson read Obama the history of raising and cutting capital gains taxes to demonstrate this was so — would he still want to raise capital gains taxes? "Well, Charlie, what I've said is that I would look at raising the capital gains tax for purposes of fairness," Obama answered. That is, not only does the evidence against his plan not deter him from instituting it, but the facts were never even a part of the calculation. He was not concerned with economics or history; ideology was his only consideration.
An Economy Built to Crash. President Obama described his fiscal year 2013 budget — the most expensive in United States history — as "a blueprint for an economy that is built to last." But even his own Treasury Secretary does not agree with that assessment.
Obama's Budget is Out. Here are some key numbers:
• Between now and FY 2022, spending will grow by $2 trillion.
• Over ten years, the president will "cut" spending by $2.5 trillion, but cumulative spending will be $47 trillion
• Between FY 2013 and FY 2022, debt will increase by $6.8 trillion (from FY 2012, add another $1.1 trillion).
• Gross debt (including both public and government held) increase to $26 trillion by 2022.
• By 2022, annual interest payments will be $1 trillion annually
Debt held by the public in 2012 will stand at $11.5 trillion, and by 2022 it will reach $19.4 trillion. That's a $7,900,000,000,000 increase in our debt.
Dem Congressman on Obama Budget: "This budget is a nervous breakdown on paper". Just imagine if a Republican said something like this. They'd be accused of calling Obama crazy.
Obama's 2013 Budget: A Monument To Irresponsibility. What do you call a budget that boosts spending $227 billion, adds $329 billion to an already huge deficit, and does nothing to fix the entitlement crisis? If you're President Obama, it's called "fiscal responsibility."
Obama Requests $1 Billion — To Get the Right Names on Social Security Checks. According to President Obama's budget proposal today, his budget would continue "investment in program integrity by providing $1 billion to ensure benefits are paid to the right person and in the right amount." Yes, you read that correctly: we are supposed to spend one thousand million dollars in order to achieve what American Express does correctly every single day.
Even Politico is calling Obama's budget 'Borderline Delusional'. Those aren't my words, but those of Politico writer David Rogers: ["]He ran on hope, governed through despair and now, with his election-year budget, President Barack Obama is trying to light the old spark, fleshing out a political narrative for America that can inspire with its romance but also seem borderline delusional to his critics given the debt accumulated by Washington.["]
Obama proposes $800 million in aid for "Arab Spring". The White House announced plans on Monday to help "Arab Spring" countries swept by revolutions with more than $800 million in economic aid, while maintaining U.S. military aid to Egypt.
President Magoo Needs No Delphic Oracle. President Obama is nothing if not an incorrigible spendaholic, as his new budget reconfirms in spades. While the nation drowns in debt, Obama wants to buy new expensive Tinkertoys to indulge his utopian fantasies.
Obama Budget: A Lie Wrapped in a Theory Inside a Stimulus. Now that Obama has officially unveiled this year's blueprint for Democrat pork, the only mystery is whether Obama will actually get a vote for his new budget. Last year his budget never made it to the House and received not a single vote when presented in the Senate, going down 0-97. With Obama proposing another $2.2 trillion in deficit spending just for this year and next ... Look for the budget to go down by more than 97 votes this time.
Obama has no Plan B. President Obama has just presented his new budget, which again ignores reality. It contains another trillion-dollar deficit, which assumes a large increase in revenue resulting from a tax-rate increase on "the wealthy" and corporations. ... Even more disturbing is the lack of discussion about a contingency plan if his projected economic scenario does not work out — and the probabilities are that it will not work out. The reality is that the United States and most other governments, particularly the Europeans, have reached or are close to reaching the limits of their ability to tax and borrow. This situation means there is going to have to be either massive cutbacks in government spending or very high inflation.
Replacement of war-worn equipment cut in budget. The Pentagon is not just cutting manpower to reach deficit-reduction targets: Its 2013 budget, released Monday, shows the military will spend less to replace old weapons after two grueling wars in Iraq and Afghanistan.
Obama budget contains nearly $35 billion for passenger rail. The Obama administration, which has been urging California to push through growing opposition to its high-speed rail project, asked Congress on Monday for nearly $35 billion in passenger rail funding over the next five years. Obama's Deceptive, DOA Budget. President Obama submitted his FY 2013 budget today [2/13/2012]. As expected, it is utterly irresponsible. The administration claims it will reduce the deficit by $4 billion over ten years. That is absurd, for the reasons stated below. What the budget actually will do, if enacted, is increase spending in FY 2013 to $3.8 trillion and run up, in FY 2013, another $900 billion in debt (if you accept the administration's rosy assumptions). That is on top of the $1.3 trillion deficit the budget projects for the current fiscal year.
Obama: Not Raising Taxes Is a Form of Government Spending. Announcing his budget plans for fiscal year 2013 in an address at Northern Virginia Community College in Annandale, Va., President Barack Obama characterized the current income tax rates — signed into law by President Bush a decade ago — as a form of government spending. Essentially, the president said that the federal government "spends" when it does not raise taxes.
Obama budget pitch: 'Can't just cut our way into growth'. President Barack Obama unveiled his budget proposal at Northern Virginia Community College in Annandale, Va., Monday morning [2/13/2012], saying, "The main idea in the budget in this: At a time when our economy is growing and creating jobs at a faster clip, we've got to do everything in our power to keep this recovery on track."
Obama's budget doubles down on renewable energy. President Obama's fiscal 2013 budget request doubles down on renewable energy amid growing Republican attacks on the administration's green agenda.
Audacious Lie v. the Too-Clever-by-Half Lie. [White House Chief of Staff Jack] Lew's statement was so transparently untrue that the best the White House could offer up as an explanation to [Jake] Tapper was "the chief of staff was clearly referencing the general gridlock in Congress that makes accomplishing even the most basic tasks nearly impossible given the Senate Republicans' insistence on blocking an up or down vote on nearly every issue." Except that Lew was clearly not referencing general gridlock; he was making a specific, false claim which he repeated and has yet to back away from.
This is an original compilation, Copyright © 2020 by Andrew K. Dart
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Updated March 12, 2013.
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