Obama Budget's Deficit-cutting Detailed

Peter Orszag, Director of the Office of Management and Budget, explains how President Barack Obama's proposed budget would cut the federal deficit. (Feb. 1)

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News & Politics

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• budget

[psalm91forgee]

You want economic prosperity return back to God. He is your Maker before you become completely disillusioned. Read John 14:6

[srvblueslvr]

@Kougeki1000 Only a little boy from Sweden could get it so wrong. Grow up, educate yourself and keep your socialist view in Sweden. Goof.

[myHome109]

The problem isn't people saving did not pay taxes, we all paid our taxes. The problem is Government was not happy with the amount of taxes it collected and borrowed against it and spend more than the number of stars in Milky Way Galaxy. This year alone GAO gov reported WH and Congress need to kick $5 Trillion in interest payment with more debt. $5 Trillion is 5X greater than all the stocks on the Canadian Exchange!!

[myHome109]

GAO gov, OCC treas gov, and CBO gov all reporting the same numbers except for Congress, House, Senate and White House.

Congress monitization of debt Sell 20-30 year treas and Fed buy 2-5 yr treas, Congress scalping 2% on interest but create $200+Trillion in debt obligations tax payers owe. go see OCC treas gov derivative trading qtr report, stuffed into every bank by Congress!

[myHome109]

When are we going to demand Congress, House, Senate and WH meet requirements for Sarbanes Oxley and STD GAAP acct?

GAO gov, CBO gov, OCC Treas gov all project Medicare Medicaid and SS to top $50 Trillion with $2 Trillion per year interest payments!

This year alone GAO gov reported Congress is kicking the interest payment due $5 Trillion down the future.

When current debt obligations are paid for by rolling debt thats compounding interest paid by next gen that's a PONSI Scam - Madoff!

[oiyabastard]

HAS THIS GUYS BALLS DROPPED YET?

[msmithstud]

I'm so relieved that somebody else understands what the hell Nobama is doing. He has broken campaign promises. He bashed Hillary in a debate in 08 for wanting ''to force people to buy healthcare''. Isn't that what Obamacare is all about?

[msmithstud]

No. Just 100% of the time.

[xmetallica21]

even obama and the whitehouse confirmed it was not true that they were going to tax the middle class, you have to understand fox news isent right 99.9% of the time

[xmetallica21]

hahaha Clinton dident decrease Gains tax he increased almost all taxes on the american people and that is what made the economy boom only nearly by the end of his term did he decrease the gains tax but by then we still had over 500 billion in surplus, and regan decreased the taxes and look what happend he started a new recession in which clinton fixed, obama cant cut taxes as social security, medicare and medicaide will all be depeleted and america will be even worse off