• Dalmasian
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Sawasdee Krup
A Country That Lost It's Soul & Put on a Fake Smile
Permalink : http://blog.nationmultimedia.com/dalmasian
Wednesday , February 16 , 2011
Is Barack Obama’s Budget For 2012 A Complete Joke?
Posted by Dalmasian , Reader : 1371 , 02:20:35  
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When Barack Obama was elected president of the United States of America more than 2 years ago, a lot of people shaked their heads.  One of these people was me.  Why?  Because I did not think a person of his educational and working background and a total lack of real-world, roll-up-your-sleeves, real and street-wise experience will be able to cut it in that most important job in the country.

Just think about this.  When he was campaigning for the presidency how much promises did he so eloquently made to his audiences?  And how much of those promises have he actually delivered to date?

And now, we can see another indecent example of his "do as I say, don't do as I do" antics -- the new budget proposal that was just unveiled.  And we all thought that his highest priority when he took office and swore to God that he will do his best for the interest of the country and the people, was to cut deficit and bring the budget deficit down quickly and effectively, while at the same time grow the economy and create jobs.  Mission impossible!

Here I would like to share with you someone's impression and opinion about this budget proposal.  I am quoting from http://www.dailymarkets.com/economy/2011/02/15/is-barack-obama%e2%80%99s-budget-for-2012-a-complete-joke/ which is an article written by a Michael Snyder.  All I can say is I totally agree with what Mr. Snyder wrote in his article.

While many of us living in Thailand are of the opinion that the Government House here is populated by a bunch of jerks and jokers (and corrupt ones, too), don't despair, because on the opposite side of the planet Earth, in a specific location called Washington, D.C., the big and impressive government buildings there are also populated by a bunch of jerks and jokers.  Indeed, they are an even bigger bunch of jerks and jokers because their actions and decisions have far reaching effects on the rest of the world.

QUOTE

Is Barack Obama trying to play a joke on all of us?  The budget that the Obama administration has submitted for fiscal 2012 is so out of touch with reality that it may as well be a budget for “Narnia”, “Fantasy Island”, “Atlantis” or some other mythical land.  You can view the hard numbers for Barack Obama’s 2012 budget right here

Obama’s budget assumes that the U.S. will experience economic growth of over 5 percent for most of the coming decade.  That is so far-fetched that “optimistic” is not the right word for it.  It also assumes that U.S. government income (primarily made up of taxes on all of us) will more than double over the next ten years.  For 2011, the budget projects that the U.S. government will take in a total of 2.1 trillion dollars, and for 2021 the budget projects that the U.S. government will take in a total of 4.9 trillion dollars. 

For the Obama administration to assume that the federal government will be able to drain an extra 2.8 trillion dollars per year out of the American people by the year 2021 is ridicul0us beyond belief.  In his new budget Barack Obama does propose some very, very modest spending cuts that he knows have no chance of getting through Congress. 

Barack Obama’s budget for 2012 also does not even attempt to make any cuts to entitlement programs such as Social Security and Medicare.  In essence, you can sum up Barack Obama’s budget proposal for 2012 by saying that it is a complete and total joke.  This budget is so delusional and so out of touch with reality that it is hard to imagine anyone taking it seriously.

Oh, but Obama is really trying to sell it hard.  When Obama unveiled this new  $3.7 trillion budget for 2012 at a middle school in Baltimore, he insisted that his plan will make it “so that every American is equipped to compete with any worker anywhere in the world.

Well, that is a nice sound bite, but as I have written about previously, unless Barack Obama suddenly finds a way to stop multinational corporations from paying slave labor wages to their workers on the other side of the globe the job losses in America are going to continue.

But that is a topic for another day.  Getting back to the 2012 budget, Obama is proposing to cut more than a trillion dollars from federal budget deficits over the next ten years.

That sounds really good until you figure out that means that the cuts only amount to about $100 billion a year.  Considering the fact that Obama’s budget is projecting that we will have a $1.6 trillion budget deficit this year alone, that really is not a whole heck of a lot to be cutting.

The truth is that Barack Obama should be proposing spending cuts that are at least ten times as large if he was actually serious about addressing our budget woes.

But at least Obama is not proposing an increase in spending.

Oh wait, he actually is.

In fact, under Obama’s budget, U.S. government spending will soar from 3.8 trillion dollars this year to 5.6 trillion dollars in 2021.

But the mainstream media is solely focusing on the budget cuts that Obama is proposing.

Apparently they are trying to cast him as some sort of “fiscal conservative”.

Try not to laugh.

But the modest cuts that Obama is proposing are at least some place to start.

Under Obama’s budget, approximately half of all government agencies will have their funding decreased from 2010 levels.

In fact, approximately 33 billion dollars would be saved by scaling back or shutting down 200 federal programs.

Of course Obama’s fellow Democrats in Congress will never go along with many of these cuts, but at least it is something.

However, this is where most in the mainstream media stop their analysis.

They don’t take a closer look at the numbers in Obama’s budget.

They don’t question the wacky economic growth assumptions.

They don’t question the bizarre government income projections.

But even with the Obama administration’s crooked numbers, the federal deficit still never drops below 600 billion dollars over the next decade and a total of 7.2 trillion dollars is still added to the national debt over the next decade.

If economic growth ends up being much lower, or if the U.S. government is not able to get twice as much money out of the American people by the end of the decade then the projections would look much, much different.

So where does the Obama administration assume all of that extra money for the government is going to come from?

Oh, from raising taxes of course.

The Obama budget assumes that there will be significant tax increases starting in the year 2013.

A recent article on CNBC summarized some of the tax increases that the Obama budget calls for….

The plan unveiled Monday includes tax increases for oil, gas and coal producers, investment managers and U.S.-based multinational corporations. The plan would allow Bush-era tax cuts to expire at the end of 2012 for individuals making more than $200,000 and married couples making more than $250,000.

Wealthy taxpayers would have their itemized deductions limited, including deductions for mortgage interest, charitable contributions and state and local taxes.

There are many liberals (such as my friend Gary) that would love to see these tax increases go into effect, but Obama knows that there is no chance that they will ever see the light of day unless the Democrats retake the House of Representatives.

But most of Obama’s budget for 2012 is based on things that simply never even have a chance of happening.

The reality is that Obama’s budget for 2012 is a great work of fiction.

Meanwhile, the U.S. government continues to accumulate staggering amounts of debt.

In fact, Obama’s budget admits that we will witness the biggest one year debt increase in history this year.

In 2011, the gross federal debt with surpass 15 trillion dollars.  In fact, it is being projected by some analysts that this will be the year when the debt finally becomes larger than the size of the entire U.S. economy.

Ouch.

But Obama insists that he is taking this debt problem very seriously.

Obama insists that he is committed to making “deep” cuts.

In fact, as he announced this new budget Obama stated that these budget cuts hit “many programs whose mission I care deeply about, but meeting our fiscal targets while investing in our future demands no less.”

Do any of you actually believe him?

Not that the Obama administration is in an easy position.  The truth is that the U.S. government (both Republicans and Democrats) have been horribly irresponsible with our money for decades.

The 14 trillion dollar national debt problem that we have now did not develop overnight.

Neither will it be solved overnight.

But Obama is not even trying to address the tough issues such as Social Security and Medicare.

The truth is that the federal debt problem cannot be solved without addressing our out of control entitlement programs.

So why didn’t Obama address them in his budget?

Well, the reality is that Obama is not stupid.  Social Security and Medicare are political sacred cows.  Obama is not going to do anything at this point that would cost him millions of votes in 2012.

So Barack Obama ignored most of the $4 trillion in budget cuts recommended by the White House-appointed deficit commission.

It kind of makes you wonder why Obama ever appointed a “deficit commission” in the first place.

One area that Obama does attempt to cut in his new budget is military spending.  Obama’s budget for 2012 sets military spending at 5 percent below what the Pentagon requested for 2011.

In fact, Obama’s defense budget would slash military spending by $78 billion over the next five years.

His budget also assumes that we are not going to get involved in any more wars, which is not necessarily a safe assumption.

So will these military spending cuts actually get through Congress?

Not likely.

The Republicans control the House of Representatives, and they are not likely to take too kindly to large cuts to the defense budget.

In fact, the truth is that not too many of Barack Obama’s spending cuts are likely to survive in Congress.

As a recent article on CNN explained, Barack Obama’s budget plan must navigate a vast array of congressional committees in the coming months and by the time it emerges it is likely to be radically changed from its current form….

Before it gets back to Obama’s desk for a signature, the spending blueprint will go through no less than 40 congressional committees, 24 subcommittees, countless hearings and a number of floor votes in the House and Senate.

As our Congress critters have demonstrated over and over and over, they love to spend our money on some of the most wasteful things imaginable.

For example, a total of $3 million has already been granted to researchers at the University of California at Irvine so that they can play video games such as World of Warcraft.

Something seems to happen to people who get elected to Congress.  Almost all of them seem to develop an addiction to spending our hard-earned money.

Let us hope that something changes in that regard, because right now government debt is completely and totally out of control.

In fact, the U.S. national debt is currently increasing by approximately 4 billion dollars every single day.

In the end, if something is not done about all this debt it will destroy the entire U.S. financial system.

But our politicians just keep putting it off and putting it off.

Eventually we will reap what we have sown.  Debt is a very cruel master, and nobody can run from it forever – not even the U.S. government.

UNQUOTE

--  Dalmasian


Read comment

comment 13
Alien date : 21/02/2011 time : 01.47
http://blog.nationmultimedia.com/alien

CLARIFICATION: On this AM's news shows, I finally heard (from a Democrat member of congress) how Obama's budget decreases the deficit by one trillion dollars during the next ten years.

If Obama's budget is not passed, the deficit will increase by 8 trillion dollars. It will increase by "only" 7 trillion dollars under his budget. According to the Dems, they can rightfully claim a deficit savings of 1 trillion dollars.

The moderator stated that Obama is using very rosy assumptions to claim this savings, assumptons that a lot of economists say will not happen and the deficit will actually be worse than 8 trillion under Obama's budget.
comment 12
Alien date : 20/02/2011 time : 09.23
http://blog.nationmultimedia.com/alien

Dalmation - yes, his just submitted budget IS a joke. They never submitted and passed a budget last year. This is the first time I know of this happening (not happening) in modern history in the U. S. Even with Obama's new budget that he claims will reduce the deficit, the "experts" claim that it will actually increase the deficit during the next ten years by 7 trillion. Just about what we have come to expect from Obama.
comment 11
Ian date : 16/02/2011 time : 14.43
http://blog.nationmultimedia.com/anterian36

HA_HA, shush, Thais are not supposed to know about the blue diamond. Krajog will explain.
comment 10
HA_HA date : 16/02/2011 time : 13.03

they really had no good choice in the election from the beginning. i like either clinton or mccain. but palin was a joke. i just didn't understand.

obama i just have a hunch that he's like AV. ..all fake.

i think the US is cursed by allah. like thailand is cursed by the blue diamond.


comment 9
Alien date : 16/02/2011 time : 12.45
http://blog.nationmultimedia.com/alien

The latest Rasmusin (don't know if that is spelled correctly) poll indicates that 83% of Democrats think obama is doing a great job. Among blacks, it is over 90%. Among Republicans and Independents, it is well below 50%. If obama manages to flush the U. S. economic system down the shitter, I'm sure they will find some way to blame it on Sara Palin, Republicans in general and Hillary Clinton's "vast, right-wing conspiracy". The main stream press will back the Democrats up on this.

It also seems funny that the dems had a veto proof majority in the House and the Senate and held the presidency for those same two years, and never managed to increase the taxes on "the rich" during that time. Now they are claiming that the Republicans won't let them tax the rich, but the republicans are taking the stnace of NO TAX INCREASES at all during a recession. It's also interesting to note that during that 2 year window of opportunity that the democrats have conveniently forgotten about, mos tof the campaign contributions from Wall Street and the big banks went to the Democrat party. They were paid back with the big bail-outs and stimuli plans, as were the unions, but the unions always give 90% of their money to the Democrats anyways. FOX News is the only network that touches on this, and this has earned them villification from the main stream media, Democrats, socialists and other "liberal" leaning people. It's a case of trying to kill the messenger. To their dismay, most Americans don't hold this view as it is the highest rated cable nes show on TV. But that's just something else to piss them off as they conclude that most Americans are red-neck idiots who have been inbred and this explains why they don't see the wisdom in the policies of Obama, Pelosi and Reid. They became the object of their interest, then concern, and the persuasion didn't work so now they are in the coercion stage, as evidenced by Obamacare and the (so far failed) carbon credit schemes. Their only hope is to keep the liberal idiots in line and hope they can make voters out od the 20 to 30 million illegal immigrants before the normal Americans can rally their forces. Once the illegals are made legal and registered to vote, and can bring in their families under U. S. law to also vote, they will have no more worries. the U. S. will look more like mexico by this time, but the Obamas, Pelosis, Reids and Kennedys live in gated communities anyways and their lawn-care and domestic-servant labor prices will go down. Win - win. Power and money!
comment 8
BangkokRay date : 16/02/2011 time : 12.41

Alien,
Sure am glad you expounded on the "Socialist" label. He, and most all of his administration are socialists. The "Idiot" label also applies across the board. I like to talk politics, but since this absolute loser took the helm, I choose to state my opinion of him immediately and withdraw from the conversation. The man, his wife and his regime make me utterly sick to my stomach.
Oh, by the way, I am a lifetime Conservative.
comment 7
Ian date : 16/02/2011 time : 12.40
http://blog.nationmultimedia.com/anterian36

"there are those who say he is NOT an idiot and this is his plan."
I am one of these and have been since his election.
comment 6
Alien date : 16/02/2011 time : 12.27
http://blog.nationmultimedia.com/alien

The U. S. budget in 2008 was approx. 2.9 Trillion dollars. In 2010, it was 3.6 Trillion, a jump of nearly 25%. This does NOT include the money spent OVER budget by Obama with his lame-brained schemes during the past 2 years.

Obama proposal to "reduce' the budget, is from the over-inflated 2010 budget which the liberal Democratic House, senate and presidency suffered on the U. S. populace.

I used the term "liberal" on purpose. thee is no publication in the U. S. (and probably many other nations) that would deny that the government of the past 2 years was a liberal government with a liberal (some say socialist) ideology. So if some want to parse words on that meaning, go ahead, it is what it is!

Anyways, Obama and his democrat allies are hoping to solidify or standardize the 3.6 trillion budget as the base-line from where the negotiations would begin. I prefer the republicans and tea party members who want to push spending levels back to what they were in the 2008 budget, which was also an extremely high budget as compared to earlier years. The past two years, with the government under total Democrat control have resulted in the highest government deficits in U. S. (and probably World) history. Obama is on course to beat this record with his 2011 spending. He is an economic idiot who is destroying the nation. there are those who say he is NOT an idiot and this is his plan.
comment 5
BangkokRay date : 16/02/2011 time : 11.28

The entire Obama presidency and administration is an absolute joke. Let me correct that, it's a travesty. I am embarassed to be an American when his name is brought up in a conversation.
I have had strong opinions on some presidents in my nearly 60 years, but NEVER as negative as today.
Obama' objective is to bankrupt the USA and make the people dependent on the govt. In that effort, he is actually being successful-so far.
comment 4
happyjack date : 16/02/2011 time : 08.22

The Silly Brits.We give Millions to India,who give it away to African Breeding Stock, then we worry about giving Pensioners who made GREAT BRITAIN Great a few shillings extra at Christmas.An average pensioner Dall cant afford World of Warcraft.Will there ever be someone elected that realises the Horse has been flogged to Death.Were all getting pissed of with the Underdog.Most of us have helped someone,only to find hes a lazy bastard by nature,and hes back in the Poop later on.Thats my take on 3Rd World Handouts.
comment 3
Ian date : 16/02/2011 time : 06.47
http://blog.nationmultimedia.com/anterian36

Interesting to compare with the UK, we already have introduced large cuts in government spending, everything from education to defence. We are tightening up on welfare and immigration, VAT is increased as are tax bands.
The Brits are grumbling, but accepting it.
comment 2
wch date : 16/02/2011 time : 06.20
http://blog.nationmultimedia.com/wch

it is not bad. World will enjoy US dept party. anyway what the US dollar inflation is this year next year?
comment 1
vetopower date : 16/02/2011 time : 04.40
http://blog.nationmultimedia.com/veto

JOKE is correct. Federal Reserve is broke. China exercised it's lien on then this month. New banking, new currency, Iraqi Dinar RV due Thurs, 9PM EST
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