Obama submits budget blueprint

[OnePimpTiger]

CNN: Obama submits budget blueprint

President Obama on Thursday presented a budget that he said is an "honest accounting of where we are and where we intend to go."

Congress received a 140-page summary of the budget Thursday morning. The full details are expected in April.

I'm happy to hear him say he's found $2 trillion in budget savings, but he has said that a few times now without many specific details about where it's coming from. Apparently a lot of it will come from Pentagon weapons programs, which I don't necessarily agree with as I feel military and defending the country is one of the few main areas the Federal government should be the main provider.

Also, cutting $2 trillion in spending is great, but it doesn't help a whole lot if you add that much back in. He's already over $1 trillion with the stimulus package and foreclosure bailout. And one thing he mentioned adding into the budget is a $634 billion health care "reserve fund" which will be a "down payment" for reforming the health care system, which I do not like the sound of at all.

Of course we have few details so far, but from the little we do know I have mixed feelings about his budget proposal. I'm not happy about added spending, but at least he's trying to cut spending elsewhere instead of just adding to it.

[jaybird_1981]

I found this which goes into a little more detail on the increase in taxes:

http://online.wsj.com/article/SB1235...ys_us_page_one

[OnePimpTiger]

I forgot to point this out in the original post:

Obama is also proposing a $634 billion health care "reserve fund" aimed at reforming the system. In order to fund it, Obama will ask wealthy Americans to accept a tax increase and wealthy seniors to pay higher Medicare premiums.

Take from the rich, give to the poor, redistribute wealth...aka Socialism. Welcome to the USSA.

[jaybird_1981]

I forgot to point this out in the original post:



Take from the rich, give to the poor, redistribute wealth...aka Socialism. Welcome to the USSA.

He has also revised what is considered "wealthy". Before it was if you made over 250,000 now all of a sudden it is 208,000. And this is just for a down payment on this health care plan. That isn't counting all the other programs he wants to pursue. If the American people think that he can accomplish his agendas without raising taxes on everyone they are kidding themselves.

[OnePimpTiger]

He has also revised what is considered "wealthy". Before it was if you made over 250,000 now all of a sudden it is 208,000. And this is just for a down payment on this health care plan. That isn't counting all the other programs he wants to pursue. If the American people think that he can accomplish his agendas without raising taxes on everyone they are kidding themselves.

Yeah I noticed that too...interesting. I agree 100%...but he could sell a ketchup popcicle to a lady wearing white gloves and tell her he's going to change ketchup's ability to stain cloth.

[Aikman_TheGreat]

Well, everyone wanted change. So they got it. After this 4 years, anyone with a pulse could go out and campaign change and get a vote just to get rid of this socialism crap.

[RenegadeLonghorn]

CNN: Obama submits budget blueprint



I'm happy to hear him say he's found $2 trillion in budget savings, but he has said that a few times now without many specific details about where it's coming from. Apparently a lot of it will come from Pentagon weapons programs, which I don't necessarily agree with as I feel military and defending the country is one of the few main areas the Federal government should be the main provider.

Also, cutting $2 trillion in spending is great, but it doesn't help a whole lot if you add that much back in. He's already over $1 trillion with the stimulus package and foreclosure bailout. And one thing he mentioned adding into the budget is a $634 billion health care "reserve fund" which will be a "down payment" for reforming the health care system, which I do not like the sound of at all.

Of course we have few details so far, but from the little we do know I have mixed feelings about his budget proposal. I'm not happy about added spending, but at least he's trying to cut spending elsewhere instead of just adding to it.

I can only hope this turns out for the best. Hoping for improvement is the positive attitude we all should be taking this early in Obama's presidency.

[OnePimpTiger]

The story was just updated to include this little nugget of info:

Based on the proposed budget, the administration projects the deficit for fiscal year 2009 will reach $1.75 trillion, or 12.3 percent of U.S. gross domestic product. That's a record in dollar terms and is the highest as a share of GDP since World War II.

Somehow, the path to cutting the federal deficit in half in just four years starts with increasing it to the largest percentage since WWII in the first year...it's hard to have a lot of hope seeing stuff like this.

And I just saw this response to the budget blueprint:

Dem blasts Obama's budget

Mississippi Democratic Rep. Gene Taylor blasted the budget outline President Obama submitted to Capitol Hill today, saying “I don’t like it…change is not running up even bigger deficits that George Bush did.”

“That’s what George Bush did very well. Apparently that’s what President Obama is doing.”