The Budget Crisis

Obama's 2012 budget deficit has managed to hit the level of the ENTIRE budget of 1998 ($1.6T).
 
What kind of a joke of a budget is this?
 
Obama has utterly sold out the youth. That is hardly my unique take on this. Obama sycophant Andrew Sullivan blogged:
" To all those under 30 who worked so hard to get this man elected, know this: he just screwed you over. He thinks you're fools. Either the US will go into default because of Obama's cowardice, or you will be paying far far more for far far less because this president has no courage when it counts. He let you down. On the critical issue of America's fiscal crisis, he represents no hope and no change. Just the same old Washington politics he once promised to end."
 
Dana Milbank, another apologist, also condemned the budget as a joke.
 
He promises $1.1T in savings --- but none of those savings consist of anything resembling specifics.
 
It includes a hidden 25 cent-a-gallon tax increase. That will work wonders in killing the economy further. A federal bailout beginning for the states' pension funds (an amount of money that would curl toes if people knew how bad it was). 
 
He put together a deficit commission --- when he said he wouldn't in the campaign because that just has the President punting a problem down the field --- that cut the deficit by 4.4T, and he utterly ignored their recommendations. Even the Democratic co-chair said the budget is inadequate.
 
95% of all of his savings occur after his first term is over. 2/3 occurs after his assumed 2nd term. Obama, LITERALLY, is punting the issue away. He wants to cap spending at the currently inflated level for a few years. This is disastrous.
 
Our spending has DOUBLED since 2001. Doubled. That is inexcusable. And it's not taxation that is the problem. It is clearly spending.
 
 Why don't we just go back to the 1998 budget? Was Clinton's budget unusually harsh? These budgets aren't a continuation of Bush's budgets. These are a massive increase...at a time where people are concerned about the deficits and they want solutions. Why the lack of leadership? Why is it up to the Congress to single-handedly try and fix the problems?
 
The young who worked hard to elect Obama, as Sullivan said, were screwed over. Royally. It is US who will have to pay this --- and, just to make it all the better --- a lot of the savings involve making student loans harder to pay back. Why are the youth supportive of a man who has showed them absolutely no respect? And why is our President unwilling to actually lead?
 
The GOP advocates really small cuts in the budget which are better than nothing --- but they will have to do it all on their own. That is sad.
 
This country needs President Chris Christie badly.

ITT we understand economics

The only things that will fix the budget are tax increases or cuts to entitlement programs like Social Security or Medicare/Medicaid. No politician will touch these things because voters will not abide tax increases or cuts to entitlement programs. Ergo, the federal debt will continue to grow until there is some sort of major crisis.

The issue really isn't taxation. Spending has doubled in 10 years. No taxation exists that can keep up with it. I would support tax increases once we ACTUALLY cut spending (as in we spend LESS one year than we spent the year before). Until then, all a tax hike will do is increase spending far more.

I was happy when President Barack Obama was elected because he was America's first black president. As far as I'm concerned, I never really expected anything more, and I had a hard time tagging him as this revolutionary that everybody else was cycling for. This just proves my assumptions were correct. I'd like to know what it's like in the other countries that forum-goers represent on this board. I've always wanted to travel and possibly live someplace else, but now I actually have a worthwhile reason. 
 
Also, it would be worthwhile for everybody to read other articles on the 'net about this to get a bit more perspective. People have a tendency to post unreliable or slanderous news articles and then claim them as fact here.

Obama bashing from MikeinSC...SHOCKING. On another note: the monetary system is inherently broken and is due to collapse more likely sooner rather than later. Hope you enjoyed the ride.

" Obama bashing from MikeinSC...SHOCKING. On another note: the monetary system is inherently broken and is due to collapse more likely sooner rather than later. Hope you enjoyed the ride. "

Remember video games? Those are fun, right?

" Obama bashing from MikeinSC...SHOCKING. On another note: the monetary system is inherently broken and is due to collapse more likely sooner rather than later. Hope you enjoyed the ride. "

Let's not tell him the budget is less expensive than the budgets of many budgets prior to this one, shall we? I think his head'll explode.

I learned everything I know about economics from game message boards and the third Zeitgeist "documentary", ask me anything.

" @MikeinSC: Uh, since when has congress ever approved Obama's proposed budgets? We may complain about the proposed budgets, but they've hardly had an impact on the deficit given that we haven't actually used any of them. And given the temporary budget system in place wont spending cuts proposed by the GOP come down incredibly harshly by giving targeted groups short time periods to make drastic cuts? "

It's pretty dumb considering Obama spent 1 trillion dollars in one day last year.

Where's the source for this article?

CRISIS  CRISIS CRISIS CRISIS CRISIS CRISIS CRISIS CRISIS CRISIS CRISIS CRISIS! 
 
CRISIS CRISIS. 
 
CRISIS CRISIS CRISIS!

" CRISIS  CRISIS CRISIS CRISIS CRISIS CRISIS CRISIS CRISIS CRISIS CRISIS CRISIS!  CRISIS CRISIS.  CRISIS CRISIS CRISIS! "

I don't ever really contribute to most political debate's mainly because it is all propaganda.  This side believes their right the other thinks their right based on some arbitrary facts that someone stated as truth.  Bottom line is most of the people holding position's of power are crooks.  Every night I turn on the news and see another person in power being accused of emblezzing money or not paying their taxes for 17 years, i could keep going on but you get my point.  Just tonight there was something on about 3 city officials who were making outrageous amounts of money after they had already been caught giving them selves inappropriate wages something like 1.7 mil, 400k, and 375k.
 America is about greed and i think that is why were are in the state we are in.

Have you all ever considered , and I mean everybody in this world , that if we kill the "parties" , force government to spend less , i.e. no secretaries , no top of the line cars (expensive cars) less burocracy , no fancy gatherings , parties (I mean gatherings were they drink champagne and eat caviar) no headquarters for political parties , no fancy suits ,  so on and so forth , a lot of budget would be instantly cut back (this applies mostly to my "home" country Mexico) . Why do we need this douche bags any way? I know to "lead" us but they do more harm than good , after all it was politicians and parties that brought us Nazis , facists and communism and caused millions of deaths.

But he is black. I thought that meant he could do no wrong...

" The issue really isn't taxation. Spending has doubled in 10 years. No taxation exists that can keep up with it. I would support tax increases once we ACTUALLY cut spending (as in we spend LESS one year than we spent the year before). Until then, all a tax hike will do is increase spending far more. "

Once I went to a store and couldn't afford a video game, so I know a thing or two about budget crises.

I've got to get out of this country before this shit catches up to us.

" Obama bashing from MikeinSC...SHOCKING. "

" But he is black. I thought that meant he could do no wrong... "

" @Aetheldod: yes, because anarchy is always a good idea and never dumb. "

" @crusader8463 said:

" But he is black. I thought that meant he could do no wrong... "

It's like you didn't read what I wrote.  "

" CRISIS  CRISIS CRISIS CRISIS CRISIS CRISIS CRISIS CRISIS CRISIS CRISIS CRISIS!  CRISIS CRISIS.  CRISIS CRISIS CRISIS! "

" @MikeinSC said:

" The issue really isn't taxation. Spending has doubled in 10 years. No taxation exists that can keep up with it. I would support tax increases once we ACTUALLY cut spending (as in we spend LESS one year than we spent the year before). Until then, all a tax hike will do is increase spending far more. "

Yeah, I'm not seeing tax increases as the big solution either.  The Government' like a 21 year old who's already carrying $5,000 in debt getting a pay raise of $50 a month.  And then immediately thinks, "Hey! With that extra fifty, now I can get 3G!." "

" @Caegn said:

" @MikeinSC said:

" The issue really isn't taxation. Spending has doubled in 10 years. No taxation exists that can keep up with it. I would support tax increases once we ACTUALLY cut spending (as in we spend LESS one year than we spent the year before). Until then, all a tax hike will do is increase spending far more. "

Yeah, I'm not seeing tax increases as the big solution either.  The Government' like a 21 year old who's already carrying $5,000 in debt getting a pay raise of $50 a month.  And then immediately thinks, "Hey! With that extra fifty, now I can get 3G!." "

 /Rant
 
Taxes in the US are at its lowest in 60 years and you guys reduce taxes further even with the deficit. And what is your solution to the deficit; cut none of the things that have exploded in cost over the past 10 years. 
 
But good job on cutting science and law enforcement and social programs for the poor, it doesn't make a dent in your crazy military spending or your shitty bloated health care system. Which btw is NOT because of Obamacare, see:

http://economix.blogs.nytimes.com/2009/07/08/us-health-spending-breaks-from-the-pack/
 
Ridiculous spending and mediocre results at best.

But hey at least farmers and oil companies keep getting theirs despite the fact they don't need it. And no tax increases won't make the deficit bigger, hell if americans actually felt the immediate pain of their spending instead of offloading it on their children then maybe you wouldn't be willing to spend so much on useless crap like health care overhead and wars. Google 'starving the beast' and why its a big fat fail.  You guys criticize the government for weakness? You guys are the weak ones, every candidate that actually suggests paying for what you spend on state or federal level gets voted out faster than you can say Walter Mondale and now the entire country is going bankrupt on state and federal level with Texas doing as badly is California (so much for blaming the dems). You guys are getting what you vote for.   But hey don't let me stop you, get that secret Muslim out, put Ron Paul in and eliminate the government except for the military. God knows corporations without oversight means only good things. Go back to the gold standard. Rock on!!!  /Rant "

" @MikeinSC: The young did not "work hard" to get Obama elected. Youth voting in our country is abysmally low.   Secondly, taxes are going to have to go up. In order to cut a deficit, you have to increase taxes and/or decrease spending. There just aren't many more options out there besides that. Because the federal government can operate on a deficit, public administrators don't have the same initiative to get creative with how they will balance their balance sheets the way officials at the state level do. "

" @BigLemon said:

" @MikeinSC: The young did not "work hard" to get Obama elected. Youth voting in our country is abysmally low.   Secondly, taxes are going to have to go up. In order to cut a deficit, you have to increase taxes and/or decrease spending. There just aren't many more options out there besides that. Because the federal government can operate on a deficit, public administrators don't have the same initiative to get creative with how they will balance their balance sheets the way officials at the state level do. "

@BigLemon --- spending has doubled in ten years. Low taxes are not the cause of the problem.  @ Gilbert  "And no tax increases won't make the deficit bigger, hell if americans actually felt the immediate pain of their spending instead of offloading it on their children then maybe you wouldn't be willing to spend so much on useless crap like health care overhead and wars. Google 'starving the beast' and why its a big fat fail. "  Most Americans won't feel any pain. Taxes are only paid by a relatively small number of people.  @beej  "He hasn't been able to pass a budget given the climate of obstructionism that dominates american politics. So it seems odd to hold him accountable for this budget problem. Or to hate on a proposed budget that has no chance of being passed.  "  His party ran the House and Senate for the last 2 years. They didn't even try to pass a budget last year.  How is this the fault of "obstructionism"? Especially since you can't filibuster the budget.... "

" @RsistncE said:

" Obama bashing from MikeinSC...SHOCKING. On another note: the monetary system is inherently broken and is due to collapse more likely sooner rather than later. Hope you enjoyed the ride. "

It's broken why, because Peter Joseph told you so? "

Wow, so you're telling me a politician isn't living up their promises?
 
shocking

pretty crazy stuff. life is just weird stuff man. president keeps on spending money on stuff we are going poor.

MikeinSC doesn't like something Obama did. This thread is new and exciting! We get it, dude, you don't like him. But the funny thing about extreme anti-Obama people is that no matter what he does, no matter how far toward the middle he's willing to move, they'll never be happy. I've learned in previous threads to not engage in debate or discussion with the TC. You can't offer any kind of logical argument to him.

" @homewrecker said:

" @RsistncE said:

" Obama bashing from MikeinSC...SHOCKING. On another note: the monetary system is inherently broken and is due to collapse more likely sooner rather than later. Hope you enjoyed the ride. "

It's broken why, because Peter Joseph told you so? "

Because common sense and a little thing called peak oil told me so. "