Obama budget predicts $1.3T deficit for 2012, page 1

Obama budget predicts $1.3T deficit for 2012, page

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Topic started on 10-2-2012 @ 03:30 PM by xuenchen

WASHINGTON (AP) - The White House on Friday confirmed a report that President Barack Obama's new budget predicts a $1.3 trillion deficit for the ongoing fiscal year. The deficit would drop to $901 billion next year under the administration's tax and spending policies.

This sounds like a deficit increase on top of what they will spend with new revenues !!

In his budget submission on Monday the president will also repeat his call to raise the top income tax rate for individuals making more than $200,000 a year and families earning $250,000 from 35 percent to 39.6 percent as part of $1.5 trillion in tax hikes over the coming decade.

Is there enough money there to cover the debt ? .... i don't think so

We all owe something like $50,000 per person in the U.S.

How much will that be next year ?

WHO is actually going to pay this off ??

Look out for massive tax increases in 2013 during an "off-election" cycle

... Obama budget predicts $1.3T deficit for 2012

Who is Getting all this Money Anyway ??

It's like it disappears into thin air !!

edit on Feb-10-2012 by xuenchen because:

reply posted on 10-2-2012 @ 03:37 PM by macman

reply to post by xuenchen

4 MORE YEARS!!!!!!!!!!!!!!!
4 MORE YEARS!!!!!!!!!!!!!!!
4 MORE YEARS!!!!!!!!!!!!!!!
4 MORE YEARS!!!!!!!!!!!!!!!
4 MORE YEARS!!!!!!!!!!!!!!!

Yeah, 4 more years of this crap and we are not only doomed, but doomed forever.

Thank god for Friday and loads of beer.

reply posted on 10-2-2012 @ 03:43 PM by Vitchilo

This sounds like a deficit increase on top of what they will spend with new revenues !!

New revenues... actually, revenues are down compared to last year. Who knows where they will be in 2013...

Is there enough money there to cover the debt ? .... i don't think so

Yes. The debt interest at least...until the rates go back up, then it's game over.

How much will that be next year ?

By the end of 2013... 17.4 trillion/315 million = 55 238$/citizen.

WHO is actually going to pay this off ??

The people living now and the next generations? Unless there's a revolution and a repudiation of the debt that is.

Look out for massive tax increases in 2013 during an "off-election" cycle

Well of course. Why do you think they are predicting a deficit reduction of 400 billion ?? New taxes. And from what I hear, it's gonna be the end of tax deductions. All of them.

edit on 10-2-2012 by Vitchilo because: (no reason given)

reply posted on 10-2-2012 @ 03:59 PM by xuenchen

Originally posted by macman
reply to post by xuenchen

4 MORE YEARS!!!!!!!!!!!!!!!
4 MORE YEARS!!!!!!!!!!!!!!!
4 MORE YEARS!!!!!!!!!!!!!!!
4 MORE YEARS!!!!!!!!!!!!!!!
4 MORE YEARS!!!!!!!!!!!!!!!

Yeah, 4 more years of this crap and we are not only doomed, but doomed forever.

Thank god for Friday and loads of beer.

many say:

4 MORE YEARS!!!!!!!!!!!!!!!
4 MORE YEARS!!!!!!!!!!!!!!!
4 MORE YEARS!!!!!!!!!!!!!!!
4 MORE YEARS!!!!!!!!!!!!!!!
4 MORE YEARS!!!!!!!!!!!!!!!

NO MORE YEARS !!!!!!!!!!!!!!!

reply posted on 10-2-2012 @ 04:04 PM by Vitchilo

reply to post by xuenchen

Well, Romney or Obama, it will end up with the same deficits.

And they are very optimists to say only 1.3 trillion in 2012 and 900 billion in 2013 when they are planning a war against Iran.

reply posted on 10-2-2012 @ 04:06 PM by xuenchen

Tick-Tock goes the clock !!!

U.S. NATIONAL DEBT CLOCK

The Outstanding Public Debt as of 10 Feb 2012 at 10:02:13 PM GMT is:

The estimated population of the United States is 312,201,426

so each citizen's share of this debt is $49,198.45.

The National Debt has continued to increase an average of
$3.98 billion per day since September 28, 2007!

Bookmark This

WHO gets to pay this off ??

reply posted on 10-2-2012 @ 04:10 PM by beezzer

Please correct me if I'm wrong (as I'm sure you all will

) but isn't this just a proposal on what he wants to spend?

Isn't it true that Obama in his 3 years in office has yet to have an actual budget made up by congress?

Isn't it also true that Obama said that an actual budget wasn't necessary?

reply posted on 10-2-2012 @ 04:12 PM by youwouldknow

Originally posted by Vitchilo
reply to post by xuenchen

Well, Romney or Obama, it will end up with the same deficits.

And they are very optimists to say only 1.3 trillion in 2012 and 900 billion in 2013 when they are planning a war against Iran.

You Mean Obama or Ron Paul...?
Yep!

reply posted on 10-2-2012 @ 04:20 PM by xuenchen

Originally posted by beezzer
Please correct me if I'm wrong (as I'm sure you all will ) but isn't this just a proposal on what he wants to spend?

Isn't it true that Obama in his 3 years in office has yet to have an actual budget made up by congress?

Isn't it also true that Obama said that an actual budget wasn't necessary?

You are right,

and the actual number could be much higher,

depending on what new "emergencies" get created

For sure it will not be lower !!!

reply posted on 10-2-2012 @ 04:23 PM by beezzer

Originally posted by xuenchen

Originally posted by beezzer
Please correct me if I'm wrong (as I'm sure you all will ) but isn't this just a proposal on what he wants to spend?

Isn't it true that Obama in his 3 years in office has yet to have an actual budget made up by congress?

Isn't it also true that Obama said that an actual budget wasn't necessary?

You are right,

and the actual number could be much higher,

depending on what new "emergencies" get created

For sure it will not be lower !!!

I thought so.
Time for scotch.

I also have to say, where in the heck are the republicans, and why aren't they screaming??!?!?!
Where's the SOB Tea Party guy I helped put into office in 2010?

THIS! This is what we need to focus on!

reply posted on 10-2-2012 @ 04:34 PM by Vitchilo

reply to post by beezzer

The tea party were a joke. Most of them were corrupted or were lying.

You got fooled again.

The only ones serious about cutting spending are the Ron Paul supporters.

reply posted on 10-2-2012 @ 04:40 PM by beezzer

Originally posted by Vitchilo
reply to post by beezzer

The tea party were a joke. Most of them were corrupted or were lying.

You got fooled again.

The only ones serious about cutting spending are the Ron Paul supporters.

I'll admit to getting suckered. Won't happen a second time. Would expand about the issues I have with Paul, but for another thread.

Needless to say we need to get all the jokers out of DC.

reply posted on 10-2-2012 @ 04:44 PM by VforVendettea

reply to post by xuenchen

What can I say?
I'm honored

to be handed the bill to a party that I was too low to be invited to,

reply posted on 10-2-2012 @ 04:44 PM by Vitchilo

reply to post by beezzer

That's gonna be hard to do... in 2010, when people were super duper pissed, 88% of congress people were reelected...

Gee... usually it's 92-95% reelection rate... I guess now congress is scared...

Congress won't start doing the good thing till :
- They get kicked off at a 50%+ rate
- They get replaced by GOOD PEOPLE.

reply posted on 10-2-2012 @ 04:47 PM by beezzer

Originally posted by Vitchilo
reply to post by beezzer

That's gonna be hard to do... in 2010, when people were super duper pissed, 88% of congress people were reelected...

Gee... usually it's 92-95% reelection rate... I guess now congress is scared...

Congress won't start doing the good thing till :
- They get kicked off at a 50%+ rate
- They get replaced by GOOD PEOPLE.

It's why I started TheDiogenesGroup. Still looking. . . . . . .

reply posted on 10-2-2012 @ 09:02 PM by links234

Originally posted by beezzer
Please correct me if I'm wrong (as I'm sure you all will ) but isn't this just a proposal on what he wants to spend?

Yes.

Isn't it true that Obama in his 3 years in office has yet to have an actual budget made up by congress?

No, as I've pointed out in that other thread.

Isn't it also true that Obama said that an actual budget wasn't necessary?

Not sure. Link?

reply posted on 13-2-2012 @ 12:34 PM by Eurisko2012

Originally posted by xuenchen

Originally posted by macman
reply to post by xuenchen

4 MORE YEARS!!!!!!!!!!!!!!!
4 MORE YEARS!!!!!!!!!!!!!!!
4 MORE YEARS!!!!!!!!!!!!!!!
4 MORE YEARS!!!!!!!!!!!!!!!
4 MORE YEARS!!!!!!!!!!!!!!!

Yeah, 4 more years of this crap and we are not only doomed, but doomed forever.

Thank god for Friday and loads of beer.

many say:

4 MORE YEARS!!!!!!!!!!!!!!!
4 MORE YEARS!!!!!!!!!!!!!!!
4 MORE YEARS!!!!!!!!!!!!!!!
4 MORE YEARS!!!!!!!!!!!!!!!
4 MORE YEARS!!!!!!!!!!!!!!!

NO MORE YEARS !!!!!!!!!!!!!!!

No more years of Obama.

Instead we will get 4 years of President Sarah Palin.
She gave the keynote address at CPAC.