It looks like you're using an Ad Blocker.

Please white-list or disable AboveTopSecret.com in your ad-blocking tool.

Thank you.

 

Some features of ATS will be disabled while you continue to use an ad-blocker.

 

Obama budget predicts $1.3T deficit for 2012

page: 1
4

log in

join
share:

posted on Feb, 10 2012 @ 03:30 PM
link   

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:





posted on Feb, 10 2012 @ 03:37 PM
link   
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.



posted on Feb, 10 2012 @ 03:43 PM
link   


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)



posted on Feb, 10 2012 @ 03:59 PM
link   

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 !!!!!!!!!!!!!!!



posted on Feb, 10 2012 @ 04:04 PM
link   
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.



posted on Feb, 10 2012 @ 04:06 PM
link   
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 ??



posted on Feb, 10 2012 @ 04:10 PM
link   
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?



posted on Feb, 10 2012 @ 04:12 PM
link   

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!



posted on Feb, 10 2012 @ 04:20 PM
link   

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 !!!



posted on Feb, 10 2012 @ 04:23 PM
link   

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!



posted on Feb, 10 2012 @ 04:34 PM
link   
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.



posted on Feb, 10 2012 @ 04:40 PM
link   

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.



posted on Feb, 10 2012 @ 04:44 PM
link   
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,



posted on Feb, 10 2012 @ 04:44 PM
link   
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.



posted on Feb, 10 2012 @ 04:47 PM
link   

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. . . . . . .



posted on Feb, 10 2012 @ 09:02 PM
link   

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?



posted on Feb, 13 2012 @ 12:34 PM
link   

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.




top topics



 
4

log in

join