Where is Obama’s deficit reduction budget?

User avatar
Troglodyte
Posts: 16607
Joined: Mon Nov 26, 2007 4:33 pm

Re: Where is Obama’s deficit reduction budget?

Postby Troglodyte » Tue Dec 04, 2012 10:45 am

What have we heard of Team Obama's budget plans so far??
Raise the tax rate of the "rich" and we'll get back to you on some spending cuts later....
Allow him to bypass Congress and increase the debt ceiling as he seems fit. $2.4Trillion next year.

The GOP proposal is based on a framework from a year ago outlined by Clinton White House chief of staff Erskine Bowles, one of President Obama's debt commission chairs.

an increase in the eligibility age for Medicare benefits, likely to age 67.

calls for $800 billion in new revenue over the next decade by trimming the deductions used by the "rich" to lower their tax burden, instead of increasing the tax rate.

Cut spending on entitlements such as Medicare and Medicaid by at least $900 billion and save another $300 billion through cuts in discretionary spending,

Proposed saving $200 billion by revising the way cost-of-living increases are calculated for Social Security recipients and others, such as retired federal workers.

Overhaul the complicated U.S. tax code to raise $800 billion in new revenue over 10 years, roughly half the total Obama is seeking.

Trim government healthcare costs by $600 billion over a decade by tackling waste, fraud and mismanagement., $250 billion more than Obama proposed in his opening bid last week.

slow the growth of cost-of-living increases on federal benefits by $200 billion by changing the way they are calculated and cut other government spending by $600 billion.

Using the White House's accounting methods, the proposal would reduce annual budget deficits by $4.6 trillion over 10 years, within shouting distance of the $4.36 trillion in savings proposed by Obama.


I don't suffer from any mental illnesses.. I enjoy them..

User avatar
Wabash
Posts: 23930
Joined: Wed Jan 26, 2011 7:29 am

Re: Where is Obama’s deficit reduction budget?

Postby Wabash » Tue Dec 04, 2012 11:25 am

Troglodyte wrote:calls for $800 billion in new revenue over the next decade by trimming the deductions used by the "rich" to lower their tax burden, instead of increasing the tax rate.

Which deductions? Great soundbite with no specifics.

The math of this proposal doesn't add up to any real revenue generation.

Hence the reason why the GOP proposal is a joke.

What's fun for me to watch is the desperation by the GOP trying to protect the Bush tax cuts when it was them who set the expiration dates in the original proposal.

The Dems get what they want regardless of GOP actions. The clock is ticking down on their expiration. Obama has to do nothing and "POOF," they are gone.
They told me if I voted for Hillary Clinton the president would be emotional, impulsive, and unpredictable. They were right. I voted for Hillary Clinton and got a president that is emotional, impulsive, and unpredictable.

User avatar
AsIfYouKnew
Posts: 7264
Joined: Mon Jul 28, 2008 11:01 am

Re: Where is Obama’s deficit reduction budget?

Postby AsIfYouKnew » Tue Dec 04, 2012 1:11 pm

That's the funny thing. I don't really think that going off the fiscal "curb" is going to be that bad of a hit, but it will be a hit on the economy. Any semblance of a "recovery" that we are in will disappear, and this will ultimately the the legacy of the Obama presidency. He will be relegated to below Hoover in the history books.
When a true genius appears, you can know him by this sign: that all the dunces are in a confederacy against him.
Jonathan Swift

http://www.civilityinamerica.org/en/index.html

User avatar
Parrotpaul
Posts: 33550
Joined: Sun Oct 15, 2006 2:14 pm

Re: Where is Obama’s deficit reduction budget?

Postby Parrotpaul » Tue Dec 04, 2012 1:19 pm

That's pretty funny.
"I think I may say that of all the men we meet with, nine parts of ten are what they are, good or evil, useful or not, by their education." John Locke

User avatar
AsIfYouKnew
Posts: 7264
Joined: Mon Jul 28, 2008 11:01 am

Re: Where is Obama’s deficit reduction budget?

Postby AsIfYouKnew » Tue Dec 04, 2012 2:40 pm

Parrotpaul wrote:That's pretty funny.


Not as funny as you in that hat.
When a true genius appears, you can know him by this sign: that all the dunces are in a confederacy against him.
Jonathan Swift

http://www.civilityinamerica.org/en/index.html

User avatar
Parrotpaul
Posts: 33550
Joined: Sun Oct 15, 2006 2:14 pm

Re: Where is Obama’s deficit reduction budget?

Postby Parrotpaul » Tue Dec 04, 2012 3:00 pm

Parrotpaul wrote:That's pretty funny.


AsIfYouKnew wrote:Not as funny as you in that hat.

What hat?

It's on the Internet, so it must be real...right?
"I think I may say that of all the men we meet with, nine parts of ten are what they are, good or evil, useful or not, by their education." John Locke

User avatar
Omar Bongo
Posts: 7740
Joined: Mon Sep 06, 2010 11:59 pm

Re: Where is Obama’s deficit reduction budget?

Postby Omar Bongo » Tue Dec 04, 2012 3:13 pm

AsIfYouKnew wrote:You do realize that Germany's defense budget is nothing compared to ours, right?

I would add that ironically, their per-capita hamburger consumption is nothing compared to ours as well...
"Trump is what he is, a floundering, inarticulate jumble of gnawing insecurities and not-at-all compensating vanities, which is pathetic."
George Will

"How stupid is our country?"
Donald Trump

User avatar
AsIfYouKnew
Posts: 7264
Joined: Mon Jul 28, 2008 11:01 am

Re: Where is Obama’s deficit reduction budget?

Postby AsIfYouKnew » Tue Dec 04, 2012 3:45 pm

Parrotpaul wrote:

What hat?

It's on the Internet, so it must be real...right?


You posted a pic a while ago, sitting among your cacti (or is it catuses?)
When a true genius appears, you can know him by this sign: that all the dunces are in a confederacy against him.
Jonathan Swift

http://www.civilityinamerica.org/en/index.html

User avatar
Parrotpaul
Posts: 33550
Joined: Sun Oct 15, 2006 2:14 pm

Re: Where is Obama’s deficit reduction budget?

Postby Parrotpaul » Tue Dec 04, 2012 4:48 pm

AsIfYouKnew wrote:
You posted a pic a while ago, sitting among your cacti (or is it catuses?)

Yep...and I also posted Professor Navarro's curriculum vita from the UCI website and a link to the same from Professor Navarro's personal website which you poo pooed. WTF?

It's cacti, but I prefer cactuses. I like the sound of the word much more.
"I think I may say that of all the men we meet with, nine parts of ten are what they are, good or evil, useful or not, by their education." John Locke

User avatar
AsIfYouKnew
Posts: 7264
Joined: Mon Jul 28, 2008 11:01 am

Re: Where is Obama’s deficit reduction budget?

Postby AsIfYouKnew » Tue Dec 04, 2012 4:54 pm

Sorry, but I was just teasing you about the hat, Paul.

I agree that is what his CV says, and the school site (my alma mater). I said it was my recollection that his degree was in public policy. I have messaged a fellow alum to see if he recalls it as I do.
When a true genius appears, you can know him by this sign: that all the dunces are in a confederacy against him.
Jonathan Swift

http://www.civilityinamerica.org/en/index.html

User avatar
Wabash
Posts: 23930
Joined: Wed Jan 26, 2011 7:29 am

Re: Where is Obama’s deficit reduction budget?

Postby Wabash » Tue Dec 04, 2012 6:32 pm

AsIfYouKnew wrote:That's the funny thing. I don't really think that going off the fiscal "curb" is going to be that bad of a hit, but it will be a hit on the economy. Any semblance of a "recovery" that we are in will disappear, and this will ultimately the the legacy of the Obama presidency. He will be relegated to below Hoover in the history books.

I predict the economy will go gangbusters and that Obama will go down in history as one of the best presidents. Rated as good or better than Bill Clinton.
They told me if I voted for Hillary Clinton the president would be emotional, impulsive, and unpredictable. They were right. I voted for Hillary Clinton and got a president that is emotional, impulsive, and unpredictable.

User avatar
AsIfYouKnew
Posts: 7264
Joined: Mon Jul 28, 2008 11:01 am

Re: Where is Obama’s deficit reduction budget?

Postby AsIfYouKnew » Tue Dec 04, 2012 9:50 pm

Wabash wrote:I predict the economy will go gangbusters and that Obama will go down in history as one of the best presidents. Rated as good or better than Bill Clinton.


Believe it or not, I hope you are right. However, given your complete lack of economic instruction, I am a afraid I must take your prediction with a little more than a few grains of salt.
When a true genius appears, you can know him by this sign: that all the dunces are in a confederacy against him.
Jonathan Swift

http://www.civilityinamerica.org/en/index.html

User avatar
Wabash
Posts: 23930
Joined: Wed Jan 26, 2011 7:29 am

Re: Where is Obama’s deficit reduction budget?

Postby Wabash » Wed Dec 05, 2012 5:44 am

AsIfYouKnew wrote:
Believe it or not, I hope you are right. However, given your complete lack of economic instruction, I am a afraid I must take your prediction with a little more than a few grains of salt.

I'm amused at your remarks given you support a group that has been shown to be wrong on economic predictions every time.
They told me if I voted for Hillary Clinton the president would be emotional, impulsive, and unpredictable. They were right. I voted for Hillary Clinton and got a president that is emotional, impulsive, and unpredictable.

User avatar
AsIfYouKnew
Posts: 7264
Joined: Mon Jul 28, 2008 11:01 am

Re: Where is Obama’s deficit reduction budget?

Postby AsIfYouKnew » Wed Dec 05, 2012 9:19 am

Wabash wrote:I'm amused at your remarks given you support a group that has been shown to be wrong on economic predictions every time.


Yet another example of how hyperbole takes you off the table of credibility.
When a true genius appears, you can know him by this sign: that all the dunces are in a confederacy against him.
Jonathan Swift

http://www.civilityinamerica.org/en/index.html

User avatar
Wabash
Posts: 23930
Joined: Wed Jan 26, 2011 7:29 am

Re: Where is Obama’s deficit reduction budget?

Postby Wabash » Wed Dec 05, 2012 9:30 am

AsIfYouKnew wrote:
Yet another example of how hyperbole takes you off the table of credibility.

Being credible with you is not important to me given your conviction to an economic belief that is bogus.
They told me if I voted for Hillary Clinton the president would be emotional, impulsive, and unpredictable. They were right. I voted for Hillary Clinton and got a president that is emotional, impulsive, and unpredictable.

User avatar
AsIfYouKnew
Posts: 7264
Joined: Mon Jul 28, 2008 11:01 am

Re: Where is Obama’s deficit reduction budget?

Postby AsIfYouKnew » Wed Dec 05, 2012 9:44 am

Coming from one completely bereft of economic education, I should take that as a compliment.
When a true genius appears, you can know him by this sign: that all the dunces are in a confederacy against him.
Jonathan Swift

http://www.civilityinamerica.org/en/index.html

User avatar
Parrotpaul
Posts: 33550
Joined: Sun Oct 15, 2006 2:14 pm

Re: Where is Obama’s deficit reduction budget?

Postby Parrotpaul » Wed Dec 05, 2012 10:42 am

AsIfYouKnew wrote:Coming from one completely bereft of economic education, I should take that as a compliment.

I'm sorry. I just find this hysterical. I do know wabash's educational background...but I'll never tell.
"I think I may say that of all the men we meet with, nine parts of ten are what they are, good or evil, useful or not, by their education." John Locke

User avatar
Wabash
Posts: 23930
Joined: Wed Jan 26, 2011 7:29 am

Re: Where is Obama’s deficit reduction budget?

Postby Wabash » Wed Dec 05, 2012 10:43 am

AsIfYouKnew wrote:Coming from one completely bereft of economic education, I should take that as a compliment.

One doesn't need formal education on econ to have observed what works and what doesn't. Take it however you want. The reality is the economic theory being pushed by conservatives has been shown to be a complete failure in the last 30 years.
They told me if I voted for Hillary Clinton the president would be emotional, impulsive, and unpredictable. They were right. I voted for Hillary Clinton and got a president that is emotional, impulsive, and unpredictable.

User avatar
Wabash
Posts: 23930
Joined: Wed Jan 26, 2011 7:29 am

Re: Where is Obama’s deficit reduction budget?

Postby Wabash » Wed Dec 05, 2012 10:44 am

Parrotpaul wrote:I'm sorry. I just find this hysterical. I do know wabash's educational background...but I'll never tell.

Oh what the heck. Let's tell them.

I was a history major.
They told me if I voted for Hillary Clinton the president would be emotional, impulsive, and unpredictable. They were right. I voted for Hillary Clinton and got a president that is emotional, impulsive, and unpredictable.

User avatar
Parrotpaul
Posts: 33550
Joined: Sun Oct 15, 2006 2:14 pm

Re: Where is Obama’s deficit reduction budget?

Postby Parrotpaul » Wed Dec 05, 2012 11:06 am

Wabash wrote:Oh what the heck. Let's tell them.

I was a history major.

That works for me.
"I think I may say that of all the men we meet with, nine parts of ten are what they are, good or evil, useful or not, by their education." John Locke

Return to “The Economy”

Who is online

Users browsing this forum: No registered users and 1 guest