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

Obama talks about responsibility, accountability, ever expanding deficits and debt, and then says that it is an unsustainable course. He then proceeds to put forward a budget proposal that is irresponsible, has no accountability, and that sets us on an unsustainable course. Who does he think he is kidding? He is selling us down the road to serfdom.

He is saying that instead of us taking the hard knocks and dealing with our own problems, that we should instead just pass it on to our grandchildren in the form of debt. He is making them pay for what we are consuming now. He is in essence stealing money from our posterity, which by the way is immoral.

Just think of your own life for a minute. Lets say that your grandparents had left you a debt of $250,000? Lets also say that this was a legal contract and that you were required to repay this money during your lifetime. And that the contract specified that 35% of your after tax earnings were to be garnished until this debt was paid off. I believe that you would not be a very happy camper, would you? Not only would you not be happy, but you would also be pretty ticked off at your greedy Grandparents for stealing your money. Well guess what? This is exactly what we are doing to our Grandchildren.

Are the American people living in a fantasy word? Do we not know just how big of a hole that we are digging ourselves into? But the biggest question of all is; how do we expect to deficit spend our way into prosperity, when that is exactly what got us into this mess in the first place.
jbranstetter04




Bush Deficit vs. Obama Deficit in Pictures

President Barack Obama has repeatedly claimed that his budget would cut the deficit by half by the end of his term. But as Heritage analyst Brian Riedl has pointed out, given that Obama has already helped quadruple the deficit with his stimulus package, pledging to halve it by 2013 is hardly ambitious. The Washington Post has a great graphic which helps put President Obamas budget deficits in context of President Bushs.
Whats driving Obamas unprecedented massive deficits? Spending. Riedl details:
•President Bush expanded the federal budget by a historic $700 billion through 2008. President Obama would add another $1 trillion.
•President Bush began a string of expensive finan¬cial bailouts. President Obama is accelerating that course.
•President Bush created a Medicare drug entitle¬ment that will cost an estimated $800 billion in its first decade. President Obama has proposed a $634 billion down payment on a new govern¬ment health care fund.
•President Bush increased federal education spending 58 percent faster than inflation. Presi¬dent Obama would double it.
•President Bush became the first President to spend 3 percent of GDP on federal antipoverty programs. President Obama has already in¬creased this spending by 20 percent.
•President Bush tilted the income tax burden more toward upper-income taxpayers. President Obama would continue that trend.
•President Bush presided over a $2.5 trillion increase in the public debt through 2008. Setting aside 2009 (for which Presidents Bush and Obama share responsibility for an additional $2.6 trillion in public debt), President Obamas budget would add $4.9 trillion in public debt from the beginning of 2010 through 2016.
UPDATE: Many Obama defenders in the comments are claiming that the numbers above do not include spending on Iraq and Afghanistan during the Bush years. They most certainly do. While Bush did fund the wars through emergency supplementals (not the regular budget process), that spending did not simply vanish. It is included in the numbers above. Also, some Obama defenders are claiming the graphic above represents biased Heritage Foundation numbers. While we stand behind the numbers we put out 100%, the numbers, and the graphic itself, above are from the Washington Post. We originally left out the link to WaPo. It has been now been added.
CLARIFICATION: Of course, this Washington Post graphic does not perfectly delineate budget surpluses and deficits by administration. President Bush took office in January 2001, and therefore played a lead role in crafting the FY 2002-2008 budgets. Presidents Bush and Obama share responsibility for the FY 2009 budget deficit that overlaps their administrations, before President Obama assumes full budgetary responsibility beginning in FY 2010. Overall, President Obamas budget would add twice as much debt as President Bush over the same number of years.
http://blog.heritage.org/2009/03/24/bush-deficit-vs-obama-deficit-in-pictures/

Category:

News & Politics

Tags:

• Obama
• Budget
• Unsustainable
• Course
• Deficit
• Spending
• Taxing
• Borrowing
• Bankruptcy
• federal
• trillion
• debt
• massive
• bush
• proposed
• bloated
• huge
• 2010
• social
• cuts
• increase
• congress

[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.

[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.

[AtlasShruggery]

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

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

[travissand]

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

[dodochipmunk]

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

[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