Obama Budget - An "Unsustainable Course" - Deficit Spending, Taxing, Borrowing, Bankruptcy

[travissand]

Ron Paul has the solution Look Him Up. Ron Paul for president 2012.

[hennypenny247]

"a unsustainable course"

Anybody else notice how he doesn't seem to know the article "an" ?

Ever hear the network or cable fools call him out for his bad grammar?

[jbranstetter04]

@hennypenny247 I would bet you money that it read "a unsustainable course" on the teleprompter; he is like a robot.

[wtuanmu]

Actually, there is a easy way to to increase federal government income, we can just tell China that if you write off two trillion of our debt, we can cancel the defense treaty we signed with Philippine.



[Gracelandification]

The debt when George W. Bush took office was $5.727 Trillion when he left it was $10.627. The debt/GDP increased by 27.1% in eight years of office (It was 83.4% when he left office).

.

Obama claims that his spending is reasonable better than Reagan. He proposed 3.7 Trillion with a deficit of 1.4 Trillion for 2011. Currently based on usdebtclock org, the debt/GDP is 97.2%. Obama in two years of office increased the debt/GDP by 13.8%.

.

Allen West 2012

[Twilightifyable]

The debt when George W. Bush took office was $5.727 Trillion when he left it was $10.627 Trillion. The total debt that George W accumulated in eight years of office is $4.84 Trillion The debt right now is $14.23 Trillion. In approximately 788 days in office, Obama has accumulated $4.24 Trillion. Using simple algebra you'll find by Nov 24 2011, Obama will have accumulated more debt in three years than George W. did in 8 years.

[Twilightifyable]

Clinton didn't leave a $5.6 Trillion surplus but a $1.4 trillion debt over eight years. He borrowed from Social Security, part of a $115 Trillion unfunded liability, to make it seem he left a surplus. See my about me for links. The Debt Clock should be adjusted increasing the national debt from $14.0 to $21 Trillion and reducing our unfunded liabilities by $7 Trillion to reflect the truth about Clinton.

.

Allen West 2012

[TheBrandond20]

i hate repubs sooooooooooooooooooo much they even lie on a graph if you look closely this person just inflated the stimulus package about a hundred times

[mtoasty]

The graph at 34 seconds indicates that the GOP's alternative is a flat in terms of spending? Is that the same GOP that doubled the size of government earlier this decade and added additional entitlements? That GOP? When it comes to spending, you need a scorecard to tell the difference between a democrat and a republican.

[88888FORCE]

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[danger0usknowledge]

Obama's record budget? Supplemental funding for the Iraq, Afpak, and War On Terror - ALL LISTED AS OFF BUDGET making the Cheney/ Bush budget look good & passed on to Obama TO BE INCLUDED IN HIS BUDGET/ DEFICIT Obama was 7 trillion in the hole before he took office. Confronted with rising unploym't he passed the stimulus. If he hadn't the the RNC would be calling 4 his impeachment b/c of gross "negligence" toward the suffering unemployed . They will anyway if he gets elected in 2012.

[v1f9]

We can easily reduce the deficit by ending the slow bleed wars, reducing the size of the military and allowing the Bush tax cuts for the wealthy to expire.

[onemanarmy34]

read that teleprompter woooottttt

[thephilippe]

the republicans claim to have alternative, proof people, i want proof

[jbranstetter04]

@thephilippe They would be better at holding spending down, but unless the American people are willing to give up some "benefits", then nothing will really change until the unsustainableness of this takes affect and the country goes into default. That is when change will be mandatory.

[dodochipmunk]

@thephilippe look up paul ryan budget plan on youtube and watch it. that's the alternative

[g33kguy]

I would suggest everyone to look at the Peter G. Peterson Foundation and listen to Dave Ramsey

[Aprilmax010]

Obama will make Bush look like an economic genius.

[AtlasShruggery]

"I don't worry about the deficit" - Ronald Reagan

"Reagan taught us deficits don't matter" - Dick Cheney

[VikingMan44]

I think it should be... "an" unsustainable course.

[Fizmoo]

lol whoever believes that republican 'alternative' must be a total muppet. It will be the same or even worse onder republicans because of the interests that will rise significantly (higher interest rates because of higher risk) so debts will rise sharply anyway except if you all want to give in a lot of wealth & healthcare etc...

[buzter123]

The only change we got its what's left in our pockets.

[ramfire77]

unfortunately it doesn't like America will get the change we voted for. Obama seems set on maintaining the status quo. He has approved bailouts for banks with no strings attached, increased the military budget, increased troops in Afghanistan and ballooned the deficit.

[walterswalk]

clinton balanced the yearly budget only because congressional leadership under gingrich held him in check/there was still a national debt then... you can always cut out the bush drug plan & cut the defense budget in half. (let south korea defend its own goddamn border) meanwhile "the white house rookie" wants to "spread the wealth" and you are all going to pay for it! unless you are part of the 50 million and growing surplus population! (dont forget the illegals the taxpayer supports as well)

[USNDeepsea1991]

just wondering if you posted this when bush was in office? two unpaid wars and free drug program for seniors (medicare part d).

this administration has inherited a fiscal train wreck from reagan, bush senior, and little bush. sad truth is that only clinton balanced the budget.

anyone that cant see this is blinded by their party affiliation.

[thordoggie]

hmmm...if you have $20k in credit card debt...is using your credit cards even more the solution to your problem?

[AtlasShruggery]

"I don't worry about the deficit" - Ronald Reagan

"Reagan taught us deficits don't matter" - Dick Cheney

[Sicj]

@AtlasShruggery lmao 

[microbe]

Proper gander of the lowest intellect

[thebodyofchris]

it's cool. it happens.

[thebodyofchris]

i think you misread what i was saying. i'm agreeing with you.

[thebodyofchris]

actually, that's not even the half of it. to be fully correct, for 2009 fiscal, before obama even took office, bush was 1.2 trillion overbudget. for clarity, the fiscal year began oct. 1, 2008. that means by jan. 20 2009, when obama took office, bush managed to raise the deficit at a rate of about $328B/month.

[thebodyofchris]

by comparison, obama signed an $800B stimulus bill for the remainder of the 2009 fiscal year. however, estimates are now showing that only about half of that money will be used. but let's say all $800B are used up. that would mean over the remainder of the year obama will be spending less than $100B/month.

[BlameRepublicans]

So wtfanman60 can you sell me one of your most expensive pieces of equipment for $1? All that extra money I save will some how magically float around and save the economy. Don't ask me how until after the sale is final. Sound like a deal?

[jbranstetter04]

If you're a business owner and you have an opportunity to buy some equipment at half price, and then you buy it. What that means is that either you could not have afforded it unless it was at half price, or now you have extra money to spend on expanding your company (the one half money left over).

This is how business tax cuts work. They either help a company to expand, or they allow it to stay in business longer. Either way, it translates into more jobs.

[BlameRepublicans]

I understand the cover story the gop uses to give away our money to the rich - but trickle down is a lie. It's the flat earth argument of modern times. Once you get that through your skull we can move on. We had 8 years of GOP control. How did that work for our economy?

[yoshirider123]

Do you want higher taxes???

Timothy Geithner does

[BlameRepublicans]

I don't like buying fuel for my car. The weirdest thing happens however when I don't buy said fuel...

[DOHC2L]

@jbranstetter04 You're assuming such tax cuts are properly targeted and offers real incentive for businesses to invest in capital (equipment) and thus increasing the firm's productivity in real output. But giving companies a tax incentive to invest in solar panels doesn't make the firm any more efficient at producing whatever they sell. That's why the stimulus didn't work...

[jbranstetter04]

@DOHC2L There is the cart before the horse thing also. With my company you could give me money like crazy and all I would do is pocket it. The reason is because my work is for companies that sell a product. So if they are not selling much product, then I'm not working much. On the other had of I was the company that I do work for, then I could go out on a limb and make more product at a reduced price and hope that people would buy it, but if they didn't, then I'd go out of business.

[BlameRepublicans]

10 Nobel Prize Laureates warned the Bush tax cuts would derail the economy. George Akerlof, Kenneth J. Arrow, Lawrence R. Klein, Daniel L. McFadden, Franco Modigliani, Douglass C. North, Paul A. Samuelson, William F. Sharpe, Robert M. Solow, Joseph Stiglitz. Additionally there are 440 other doctors of economy who signed the same letter, but they are not Nobel Prize holders, so I left them out for the sake of space. Anyone who says this mess is Obamas fault is either ignorant, dishonest or both.

[jbranstetter04]

I'm not saying that this is his fault. I'm saying that if he stays on this unsustainable course, then it will be his fault. I think that he is insane. He first says that we must get off of this course, and then he remains on it.

[BlameRepublicans]

Fair enough. We are in some dire straights, so it's importnat that we not look at gasoline money as "optional" spending!

[johnsenkenn]

@jbranstetter04

Well then his voters are insane, they are in power, and all they care about is their handouts.

[wtfanman60]

According to the federal reserve's numbers the amount of revenue to the government increased after the tax cuts (it spurred growth/more honest tax filing)...which took more money out of the economy, so yeah.

[BlameRepublicans]

38% tax cut for the rich results in increased revenue to the government?

Well - like Hitler said - if you are going to lie, lie big. I was going call bullshit on you. But your profile leaves me with only one option. PIG SHIT!

[rugger8541]

@BlameRepublicans 440 economists? 10 nobel laureates? wow. quite unimpressive as there are tens of thousands of economists in this country alone who DIDN'T criticize tax cuts. and the Nobel prize means jack shit. the nobel committe has been giving away their little prize for years for political reasons i.e. gore and obama.

[BlameRepublicans]

Drone right wingers are funny. When the economic shit eggs the GOP lay get too rank to ignore, these ass clowns make up shit about the vagaries of capitalism. In addition to shit, theyre full of excuses. Tell us commies how you 35 year shift managers at IHOP can work hard and become a millionaire. I wouldnt mind their mass delusion, but in addition to hurting other right idiots, their lunacy hurts worth while Americans too.

[zeitgeistmovie2008]

I want to know how many people on this message board believe government should come up with a new global monetary system where all currency is placed onto an implantable computer chip called the "VERICHIP"?

[lenny380]

Obama what the hell are you talking about WE?

Listen up -- you better start making sense or YOU are out - IMPEACHED.

[derekcrozier1]

impeach Obama

His crazy spending is going to put the US into More debt, his so called "stimulus" isn't going to work either because they are spending money they don't have, so what do they do? they borrow money and print more money, therefore causing more debt and inflation, not to mention less money in the taxpayers pocket. How are the american people going to get out of debt if they have to money?? someone answer that question for me please

[Deoradhan7919]

Maybe if the Government spent $ 500 Billion on "Pet Rocks" everything would be great? Please note I have no association with the Pet Rock people/company whatever!

[JuzzChiln]

Wake the fuck up. This isn't a party issue, it's the spending policy of our government regardless of who the puppet is.

[kdx200r]

You get it, I get it, now lets set the brush fires in peoples minds!!!!!!!!!!!

Dont stop telling the truth chilin, people will accept it once they start actually looking at what is really going on.

Oh and join us on July 4th....we are having more tea party protests against the out of control govt.

[offsprng46]

Unsustainable course vis-a-vis fiscal policy? That's an obvious yes. However, the problem is not how much we're spending, it's what we're spending it on - namely WAR, USURY, and other similarly unproductive undertakings. Also, there is the question of where we're not getting revenues that we should - namely, the useless, idle, tax-dodging, money-worshiping super-rich.

[chefrick03]

Hipocrates!

Deficet spending is GOP economics 101. Even your boy Chenny (sp?) just last year said deficets don't matter. But now they do? The GOP for decades has survived elections by running on the "low" to "no new taxes" platform, only to later borrow money from other countries to pay for what we need. They put our kids in hock as policy. This is deficet spending, this is the GOP. Now Obama (whome I did not vote for) is forced to do the same thing, and you cry foul?

Shame!

[dahoeb]

the reason people cry foul now is because of the amount of deficit spending Obama is committing to. Obama's projected deficits are expected to be higher than the ENTIRE deficit accumulated between George Washington and George W Bush. Thats the kind of deficit that can break nations.

[chefrick03]

Thank you- but it was the principle I was refering to, not the emount (however obscene).

Example: What cost $1.00 in ce. 1900 of course does not cost $1.00 now so the actual dollar amount ends up being secondary to the motive behind it.

Sionara.

[JunkMan16]

chefrick03, Obama cried out "CHANGE". Just because Bush played with matches, Obama burns down the house. He said it would be different. Well the only difference is more zeros left of the decimal and the fastest rate of spending in history. I do not believe for 1 second this is the "CHANGE" that got him into office. Talking out of both sides of his mouth. He campaigned on his fiscal responsibility & knowledge to fix this & be transparent. Lie. He can't cry when he claimed he had the answers!!!!

[FluxCapacitor2008]

Farm payments would be slashed Agency: Agriculture

Slight increase sought for defense spending Agency: Defense

Energy budget promotes green projects

Agency: Energy

Sizable expansion sought in veterans spending Agency: Veterans Affairs High-speed trains, rural air service would benefit Agency: Transportatio

Increases sought of job safety, training Agency: Labor Obama seeks to fulfill campaign pledge for police

[FluxCapacitor2008]

Health budget aims toward universal coverage Agency: Health and Human Services

Environment would get large increase

 Agency: Environmental Protection Agency

Big increase sought for poor neighborhoods Agency: Housing and Urban Development

College tuition aid would increase Agency: Education

[FluxCapacitor2008]

Dude your anger is misplaced, take a look at the Frontline PBS website and check out the videos (Ten Trillion and Counting & Inside the Meltdown) it is a good bipartisan look at how we got in to this economic hole.

And you will see who is trying to pull your strings and why.

[Unklebillybob]

1st 100 Days mr oblama's accomplishments;

1) Gave the working Americans a 3.5 TRILLION DOLLAR LOAN. 3 1/2 more than Bush let us with.

2) He promised to have a transparent administration; Yep, He has Tax Cheats, Liars, Racists, Homophobes, Marxists, etc, etc, etc & that's just in his cabinet.

3) He promised no earmark spending, except for the 9000+ for his socialist programs.

4) No more waste, except for Billions wasted on ESCR

5) Foreign affairs - 900 million to Hamas

Accomplishments.

[FluxCapacitor2008]

Now we see why fox business and the GOP had a fit over Obamas budget. O god dont mess with their tax loop holes.

[Unklebillybob]

And your point is..............?

[FluxCapacitor2008]

billybob

What part of the budget do you think is bad, besides all of it?

[Unklebillybob]

That's an easy one.

First, the absolute size of his proposed budget of 3.6 Trillion Dollars. Did you want me to break it down, form here, or did you have a comment before I start listing all the problems?

[Unklebillybob]

Let's start with 3 items.

First thing I don't like about mr oblama's budget, is his statement to all of us, that we would have time to review it. That was a LIE!

Second think I don't like about mr oblama's budget is, his statement to all of us, that he would have no Earmarks/Porkbarrel Spending.

That too was a LIE!

Third thing I don't like about mr oblama's budget is, his statement to all of us, that his administration would be more responsible(than Bush).

That was also a LIE!

LIAR!

[ST2K]

Much like a car driving off a cliff if a bridge isn't there, our economy will crash & burn if there is no banking infrastructure to support it.

This is a problem that Obama inherited from a president who refused to regulate his criminal friends on Wall Street.

[jbranstetter04]

You are such a fool if you think that Wall Street is only to blame for this.

They would not have had the mortgage derivatives to play with if the democrats had not allowed so much loaning to have taken place.

Congress creates a problem on one hand, and then on the other hand they do not curtail the problem that they ave created with the other hand, or something like that.

[mic2damgood]

both deocrats and rep. spend too much money. None of them cut any budget. Bush was bad, obama is worst. Where everyone realize that they are on the same team to collapse the dollar. When you understand how our money is made. the quicker you can understand that both parties does the same thing differently.

[denswin]

Gee, I didn't go to Harvard, or even college, but I know you don't say..."a unsustainable course"... you say "an unsustainable course". Use a before consonants and an before vowels. See what education does for you!

[jbranstetter04]

He was obviously mesmerized be the teleprompter, it can do no wrong. I think he is in love.

[TIREDOFSPIN101]

Obama will bankrupt both our economy and our national defense. He is the master of deceit.

[jbranstetter04]

Obama today has called for cutting $100,000 million from our budget. Wow! What a joke. $100,000 million, not billion. Does he take us to be fools?

He proposes a budget that is 700 billion dollars bigger that last years, then he says that he wants to "slash" 100 million from it. Like I said, does he take us for fools?

[Nmhumbug]

What I really, really dislike about our President is how stupid he thinks we all are . Although half of this country did vote for him because he is charismatic and good looking. God save us.

[Nmhumbug]

I can't believe what I just saw. How insulting to our intelligence.

[madeinamerica650]

This is not a surprise to me. I wish more people realized how much money Obama spends. And the fact that we don't have money to spend does not help!

[janebusby]

America gives more than $4 BILLION to Israel in so-called 'foreign aid' every year.

Israel is one of the richest, most industrialised countries in the middle east with a sophisticated military and the biggest nuclear arsenal in the middle east.

We are throwing money away.

No African nation receives the level of aid that Israel receives from American taxpayers.

And all America gets back is hatred and AIPAC who corrupt US politicians.

[sarah2007hood]

I'm pretty sure the "unsustainable course" he was talking about is freedom and liberty to succeed or fail, w/o the gov holding our hands, and wallets!!

[marc0987654321]

good video with the exception of the part with B. Hussein Obomber talking. We have all seen enough of him telling us to 'work together', 'make sacrifices' etc. Does anyone else feel like you are being 'talked down to' - constantly by this guy????

also I agree w/ GoogleSlave; he is quite the 2-faced liar when it comes right down to it.....with every crisis he is playing pseudo-responsible-conservativ­e WHILE really pushing us so far to the left we are gonna fall off the edge of the earth.

[JHancock1776]

" 'an' unsustainable course" NOT " 'a' unsustainable course"...

damned teleprompter...thought I fixed that problem with the indefinite article usage. Damn BO, you gotta catch that once in awhile!

[jbranstetter04]

When I first watched this video I saw that grammatical error, and I wondered why he did it.

My only conclusion is that, like my channel title states: THE TELEPROMPTER IS NOW OUR PRESIDENT.

[JHancock1776]

Yes indeed...

[dweber66]

obama is a zombie

[sugarpuddin88]

2004 Greenspan & FCC allowed the US to go from Fractional Res Banking Sys to a Negative Res Banking Sys (debt to capital ratio 30:1); add a Shadow Banking Sys with 100s of Trillions in fraudulent Credit-Default-Swaps

Plus 1 quadrillion in fake derivatives by bankers pretending to be saviors, & you have Cmd & Control by the bankers, price fixing, death to competition & indebted servitude to anyone buying into this old Soviet System

Banks horde the bailout $ while dumping derivatives on people

[sugarpuddin88]

USA second only to Mexico in Poverty & education - New story today: 1 in 10 Americans on food stamps

America bankrupt:

102 trillion for SS & medicare

25 trillion for TARP & bailouts

53 trillion plundered from other trusts

Every single American man, woman & child owes over $600K in FED Gov debt

The US dollar will collapse within the next 1 to 2 years

Longest period of time USA has gone without bombing someone: 2 years

Americans have the government they deserve

[davidrjin]

Fuck you. Like the Dominicans are are doing any better.

[sugarpuddin88]

david

I don't blame your frustration - You are the product of the American Ed sys, (ranked last in the industrialized world)

You are unable to articulate a sensible debate & forced to meager pejorative slang

Moreover, you are unaware that Dominica is not the same country as the Dominican Republic

Travel is fatal to prejudice, bigotry, and narrow-mindedness, and you sorely need it on these accounts.

Despite your delusion, the USA is not the center of the Universe

Good luck with your IRAs

[davidrjin]

Don't attempt to make yourself look like an intellectual. Your actually an idiot. your numbers are incorrect and if you can't get those right well i aint gotta say it right? You know its funny cause i checked the UNICEF rankings. you know the world edu. list. Dominican republic wasn't even on it. So once again fuck you. I'm not going to waste my time arguing with a total moron.

[dunn98632]

I don't think this was the CHANGE many were looking for even if they see this they might be blind anyway to our budget

[buttonmonkey01]

what about all the HOPE

[MadBadVoodo]

Five Stars!!

[hajishack79]

Good vid. 5*

[GoogleSlave]

This moron chided McCain for proposing too much deficit spending lol. Obama really lied his ass off during the campaign

[randyjan1]

Obama = FAIL!