ENOUGH ALREADY! Obama: ‘We Don’t Need a Balanced Budget Amendment’

Originally posted by debunky

Originally posted by dolphinfan
reply to post by debunky

 

Great idea. The problem is that the US can't build infrastructure. Absurd environmental legislation and corrupt union practices make infrastructure efforts impossible.

Great point! It's come to the point where we can't even make our rivers burn anymore! We have to resort to tap water!

I am sure that everyone agrees that legislation that helps actually protect the environment (and can be proven to do so) is a great thing.


What people have an issue with is stupid environmental laws that are nonsensical.

Originally posted by Solasis
There really is no need for a balanced budget amendment. He's right at least about the constitution already telling them to do their jobs.

And your "cherry-picking from the constitution" argument is specious. You're saying, basically, "You did one bad thing -- why do you get to try to do a good thing?" You're saying that because he does something perceived as unconstitutional, he might as well burn the whole thing. One wrong does not mean that you should just go all-out and become Satan.

I don't know enough about the rest of the topic to really contribute. Budget Balancing and Politics make my head spin.

The problem with that is when he or any future POTUS picks which ones to follow. The Constitution is the Law of the Land he took an oath as well as everyone else in Congress to follow and defend it. When it comes to a job either do it or don't do it I don't like when people half ass work. I can agree with a balanced budget amendment. You are giving the government money every paycheck you get...why wouldn't you want them to present a balanced budget every year? You budget your finance throughout your life so why shouldn't the government at any level? They should have a balanced budget and any excessive revenue should be put into a "rainy day" account like some states do.

enough of obama already what we need to do is the opposite of everything he wants to do.

cut spending across the boards make everyone pay taxes no matter the source dont like that too bad deal with it.

i am dumbfounded by those who think government is the answer to all the problems of this country

they are the creators of them i just do not understand why people cant get that through their thick heads.

every so called solution to our problems are compounding them.

and mr president we do need a balanced budget whats more we need you out of office

because you and your followers are part of the problem so you will never offer any solutions.

Originally posted by jibeho
reply to post by debunky

 

Let's see 40 plus years of deficit spending and look where our nation is heading. Should we just keep heading on the path to nowhere? Remember the debates for a BBA back in 1997? Back when Biden supported it.

The theory of more and bigger govt. is good for the economy has failed!! The govt. does not generate wealth in its pure form. In the past 40 years, govt. spending has spiraled out of control as has the influence of the special interests who spend money to ensure that the govt. money will be sent their way. Not good!.

40 years of deficit spending and all our President wants to do is maintain the status quo. What about the future? What great stewards we are??? Leaving this mess for future generations to clean up. When and where should the circle be broken?? Time to get serious about real economic growth and time to cut wasteful spending on worthless projects run by worthless agencies.

We also need to slow the growth of govt. The current administration has created an economic boom in the counties surrounding DC which will only grow larger with the size of the bureaucracy. In reality, government spending actually hinders the economy's performance by transferring resources from the productive sector to the government whether government spending is financed by taxes or by borrowing. A balanced budget amendment should make it more difficult to use borrowing as a way to raise revenue and therefore should slow the growth of government. The endless borrowing is ridiculous and counterproductive.

Its a complicated process but one that certainly needs attention and public discourse. I am tired of the "shut up, no questions, I/we know better" approach from this administration. It's time to finally get this right.



ETA: Please explain the "economic suicide" of providing and following a balanced budget?? A solid budget works in my house and could probably be used to keep plenty of people out of foreclosure. Gotta check that spending when you have a limited income. Which is the problem of with our govt. They don't ever see a limited stream of revenue all they see are deep taxpayer pockets. I can't and I won't spare another dime that only applies to reckless spending.

edit on 18-7-2011 by jibeho because: (no reason given)

40 years of elite and corporate welfare didn't help anything either.

It would be very simple to just cancel the Social Security, Medicaid , and Medicare programs. This would release a great deal of money which could be used to pay down the existing debt. My parents paid into the system for years and died before they got old enough to get any benefit from it; and I guess I will too.

Yeah tell that to the approximate 50 million people on Social Security and Medicare so I can watch them tar and feather you

Originally posted by hdutton

It would be very simple to just cancel the Social Security, Medicaid , and Medicare programs. This would release a great deal of money which could be used to pay down the existing debt. My parents paid into the system for years and died before they got old enough to get any benefit from it; and I guess I will too.

Yeah tell that to the approximate 50 million people on Social Security and Medicare so I can watch them tar and feather you

Originally posted by txraised254
The problem with that is when he or any future POTUS picks which ones to follow. The Constitution is the Law of the Land he took an oath as well as everyone else in Congress to follow and defend it. When it comes to a job either do it or don't do it I don't like when people half ass work. I can agree with a balanced budget amendment. You are giving the government money every paycheck you get...why wouldn't you want them to present a balanced budget every year? You budget your finance throughout your life so why shouldn't the government at any level? They should have a balanced budget and any excessive revenue should be put into a "rainy day" account like some states do.

You misunderstand. I am not saying that cherry-picking from the constitution is a good thing. It's a freaking terrible thing. But the argument being made is "he threw away some of those cherries, so the ones he picks must be bad."

Not following one part of the constitution does not simply invalidate the whole thing. It invalidates the person who disregarded the constitution, but it does not invalidate the constitution itself.

Originally posted by macman

Originally posted by debunky

On the other hand, a little known thing about income taxes (at least here it seems) is this: You pay them on profits. Reinvest, and you don't have to pay them.

AAAAAAAAAHHHHHHH. Wrong

You have to pay the taxes on it either before investing, or after when you pull the money out to use.
The Govt will not go hungry when it comes to your money.

That is not true. You pay the taxes on your profit or whatever you took out of your company in the form of compensation. If you decide to invest your money, you only pay taxes on your GAINS (called Capital Gains). You do not pay a single dime on the money you originally invested. In fact, you can also reduce your taxable income by deducting any losses against your original investment.

In fact, some people pay far less taxes on their capital gains, unearned income than they do on their earned income. This is one is one cause for our revenue problem as the original tax rate was reduced by more than half in the early 2000s.

reply to post by jibeho


You keep saying "The currrent Administration", well if it has been the same for the last 40 years then why is it

Obama that seems to get all the blame from you? Yes he has made some poor decisions and poor choices but

hasn't almost every other President in the last 40 years? Since no President has cut government spending and

growth, have you been repeating yourself with every other Pres. thats been in office? What are you going to do

when the next Pres. gets in office (dem or rep.) and fails to do the same, will you bash him like you do Obama?

I am nowhere near an Obama fan but then again I am really no fan of any previous president during my 26 years. You just seem to hate Obama or else you wouldn't blame it all on the current administration and give some of the credit to others in the last 40 years!

Just my opinion! Cheers Mate!

Originally posted by uscitizen859
reply to post by jibeho

 

You keep saying "The currrent Administration", well if it has been the same for the last 40 years then why is it

Obama that seems to get all the blame from you? Yes he has made some poor decisions and poor choices but

hasn't almost every other President in the last 40 years? Since no President has cut government spending and

growth, have you been repeating yourself with every other Pres. thats been in office? What are you going to do

when the next Pres. gets in office (dem or rep.) and fails to do the same, will you bash him like you do Obama?

I am nowhere near an Obama fan but then again I am really no fan of any previous president during my 26 years. You just seem to hate Obama or else you wouldn't blame it all on the current administration and give some of the credit to others in the last 40 years!

Just my opinion! Cheers Mate!

edit on 18-7-2011 by uscitizen859 because: Alignment

40 years of progressively worse deficit spending has to stop. I've never liked it and never will if this keeps up. Obama will take the heat that he has earned from his record setting spending levels and that which he wants to spend in the future. He's outspent his predecessors by a long shot. Do you understand that?

The whole process is out of control along with our debt. It has to end because the system is desperately broken. If you can't see that then I feel sorry for all 26 years of you. The buck has to stop somewhere junior.

Is it ok to borrow 40cents for every dollar spent by the govt.?? I don't.

Sorry, that you don't like to see Obama getting picked on. All sitting presidents get picked on and all presidents should be held accountable as should congress.

reply to post by jibeho


Do you ever listen to Rush Limbaugh? I used to catch his show from time to time.
I recall old Rushbo, the loveable teddy bear saying that the national debt has been proven to not mean anything at all.

I wonder if he still says this, now that a democrat is president.

Anyhow, you mentioned something about Obama and the constitution, and, well.............he's supposed to be an expert on the constitution (ha ha) and so, if there isn't an actual amendment for a debt limit ceiling, I guess he doesn't have to worry about it. Like, the debt ceiling isn't addressed in our current constitution, so no problem.

Really, though, how would a debt limit amendment have had an effect on the U.S., say, during WWII? Would the outcome of that war have been different?

I'm just asking questions. I don't have the answers, but, yeah, OP, there needs to be some sort of limits on how much and why our government here in the U.S. would exceed a limit. How much is that limit? I don't know that, either. What reasons would be reasonable for exceeding whatever limit is set? I don't know that, either.

But, I'm, pretty sure that the U.S. has reached it's debt limit. Just a gut feeling.

Things don't look good, do they? That question I know the answer to.

reply to post by jibeho


I completely agree with your opinion on spending! Big cuts need to happen and quick. I just want to throw in that government spending and expansion increased so much when Bush was in office but people seem to forget that. LBJ was probably the last Pres. to almost match Bush's spending but if your talking about the proper way of measuring the spending (adjusted dollars), then Reagan has probably spent the most but the good thing about him is he didn't believe in big government! I didn't mean to offend you, it's just I am so sick of everyone bashing the President. I don't like Obama and nor did I Bush but I am a patriot and will not bash any President because if I was to bash any, I would have to bash all. I just don't think ANY President that gets in office will cure this problem until we hit rock bottom and I don't think that will happen during the Obama era!

reply to post by jibeho


I believe the reason they don't want the amendment is because it would limit our borrowing power in the case of an emergency. It's kind of like calling the credit card company and lowering your limit when your living check to check and could possibly need the money if an emergency came up.