Obama Aims to Halve Deficit, Source Says »
Posted By orndorffter 10 months ago in NewsBarack Obama wants to cut the federal deficit in half by the end of his first term, mostly by scaling back Iraq war spending, raising taxes on the wealthiest and streamlining government, an administration official said Saturday as the president worked to finalize his first budget request.
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orndorffter
I love to listen to people young and old no matter what their age is.and if any way that I can be of help ...
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CRYMTYPHON10 months ago
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orndorffter takes a deep breath, crosses himself, rubs his lucky rabbit foot, checks his bullet proof vest, his crash helmet,
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- and climbs upon the soap box.
"Your attention, people," he says into the mike.
"The president is going to increase taxes on everyone making more than $250,000 a year, in order to halve the deficit."
He grabs a pillow from behind him and covers his head, waiting for the rain of dead cats and tomatos. Tomatoes. Tommatos.
But the crowd cheers the plan to lower the deficit;
and the tax on quarter-million per year folks was part of Obama's campaign.
They approve.
In the parking lot, a flock of limos are parked, honking their horns in angry protest. But it is far off, and the wind carries the noise away like so much dust.-
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lovemylibs10 months ago
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CRYMTYPHON is biased against tomatillos.
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slate10 months ago
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Hey as long as 'somone else' pays for it and they don't ask you to you are all for it, huh Crym?
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I know, how about not doubling or tripling the budget while you're at it Obama? After screaming the sky will fall if you don't double it in one fell swoop? That's with personal pork add thank you very much because 'change' actually means raping the coffers by the party that was decrying the rape of the coffers by the 'prior' party and now it's their turn do do the same in the name of HOPE and Change.
Hey democrats, just how did Wall Street react to this sweet deal you just put forth? Did you notice which direction the needle headed once the ink dried and the details were 'finally' starting to leak out?
Of course, we can always blame one little 6 year period of time in history, never look prior to then nor the actions as per 1-2009. I mean really the Dems need a Kings-X for the next 300 - 400 years don't you know? Why it's Bush's 6 years that's to fault and the evil Republicans!
Wink, Bush just thought he was spending 'large' on a war, why we can top five years of spending in a war with the stoke of a pen.
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libsRfunnyComment removed: Hard Banned2 Replies
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CRYMTYPHON10 months ago
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How exactly do you grow the economy of a nation if you do not put any resources into its growth?
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A hundred years ago, even the most heartless robber baron saw the profit in investing in his community.
It increased his power, to invest where his factories and banks were based,
to see that the banks were honest,
the schools and libraries produced an educated labour pool,
hospitals provided basic health,
the streets were clean and crime free.
But now we have a global economy.
The super-rich have their own schools, their own police , their
own health care; they don't need a prosperous America. .
let it rust is the attitude these last 8 years.
You can give someone a million dollar tax credit now
- and he will sit at his computer and invest itall in slave labor in China or Central America.
A nation must grow, the same as a business; by investment in the future .
Our super- rich are great guys, bless them, - and an amazing percentage are calling for just what Obama is doing; adjusting the tax burden away from the workers and middle class,
and onto those whose saving don't come to our country anyhow.
A business or a nation that does not invest in itself, - is doomed to fail.
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Georgia5010 months ago
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Halving the DEFICIT is one thing. How about halving the NATIONAL DEBT ???
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All O has to do to halve the deficit, the annual balance, is to reduce spending back to pre-bailout limits, cut back on Iraq spending, and watch tax increases roll in. None of the hundreds of billions spent this year, scheduled to be disbursed over the next ten years, will show up on any budget after this year. So O has the opportunity to write off 2008 budgeted expenditures all the way to June 30, 2008. That is how government accounting works: all revenues and expenditures are recognized in the year they occur or are authorized. Private sector accounting is not allowed to work that way. Plant expansions and capital improvements have to be expensed over time. None of this is to cast aspersion on what O is doing, but it does help those following these developments to have some background information to better interpret what is happening.-
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slate10 months ago
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A man is talking to his wife about their bills. He says, honey did you realize that we actually spend 3 times what we bring home every month and most of that is going to creditors? As hard as I've tried to keep us afloat, I'm afraid it's caught up to us and we are about to lose everything.
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His wife wipes a tear from her eye and thinks a bit. Honey what if we just go out and get a loan for twice the amount we are in debt and then only spend one and a half times the money we make? Won't that solve the problem?
For those that didn't go to the Jethro Bodine Skool of economics and this scenario evades them, let me explain. Increasing spending by 50% is an increase of 50%, not a reduction of 50%.
Thank you
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slate10 months ago
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He inherited a deficit of about $1.3 trillion from former President George W. Bush.
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But but but,,,,, What about the 10.2 trillion dollars the left claims he inherited? Is someone lying?
Yeah let's raise taxes so the Dems can continue to add hundreds of billions of dollars of pork in their bills for the 'rick' to pay for!!!!
I say, as long as I can get my 13 bucks a week, screw the rich, it's time for me to take that 13 bucks and live high on the hog for a change!-
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ADAGUY10 months ago
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orndorffter10 months ago
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I know this country needs help and if in any way Obamas plan well work then lets give it a try, my lands we'v got to try and do something, any other comments on how we are going to fix this, If I made over the amount of Dollars he is talking about it wouldnt bother me, at least I would be trying to help and thats what I care about. Thare is to many kids going to bed at night with tummy aches from hunger, people sleeping in their cars, people blowing out their brains because they cant provide for their family, make a man feel less a man just because they have lost everything, and alot has killed their self over it. I'm welling to do my part on how President is working on this. you all have some good comments and some good questions, I say lets gave it a chance, do it for those who have been left without a father just because he could'nt provide, even though it wasnt his fault.
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orndorffter10 months ago
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truthfirst, if your talking about Obama, yes I voted for him, I havent said anything against him. all I have said is give the man a chance its not going to happen over night I know that. Look what we went threw for 8 long years, I beleive that this is going to work. I really dont know who you were talking to but my comment is above yours so I guessed it was me again,I well do my best to go along with whatever are president has to offer to fix the mess we are in.
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