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Obama To Announce New Stimulus Spending Plan In His State Of The Union Adress

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posted on Jan, 23 2011 @ 03:37 PM
This is coming from Senator Durbin.

Sen. Durbin: Obama To Announce New Stimulus Spending Plan

And the priceless comment :

"We're sensitive to the deficit," Durbin added.


Well good luck passing it! NOT.

Can the US hit a 2+ trillion $ deficit in 2011? YES WE CAN!
edit on 23-1-2011 by Vitchilo because: (no reason given)

posted on Jan, 24 2011 @ 08:26 AM
I think its time for a new lesson in basic arithmetic in DC. We can't spend what we don't have.

Charles Krauthammer wrote a brilliant piece regarding the bizarre dollar figures related to Obamacare spending.

It is an argument that has been backed by the Congressional Budget Office and parroted by the mainstream media with surprisingly little detailed analysis: that President Barack Obama’s signature legislative effort manages to cut the deficit while providing healthcare for everyone. Who could argue with that?

n a column in The Washington Post, Krauthammer asked, “Suppose someone — say, the president of United States — proposed the following: We are drowning in debt. More than $14 trillion right now. I've got a great idea for deficit reduction. It will yield a savings of $230 billion over the next 10 years: We increase spending by $540 billion while we increase taxes by $770 billion.

“He'd be laughed out of town. And yet, this is precisely what the Democrats are claiming as a virtue of Obamacare. During the debate over Republican attempts to repeal it, one of the Democrats' major talking points has been that Obamacare reduces the deficit — and therefore repeal raises it — by $230 billion. Why, the Congressional Budget Office says exactly that.”

Insight into the bizarre spending mentality that has overtaken D.C.

How? The entitlement it creates — government-subsidized health insurance for 32 million Americans — doesn't kick in until 2014. That means that any projection for this decade would cover only six years of expenditures but capture 10 years of revenue. “With 10 years of money inflow vs. six years of outflow, the result is a positive — i.e., deficit-reducing — number. Surprise,” Krauthammer points out.

Its all smoke and mirrors just like the old stimulus package and just like this new mind bending proposal. No wonder why our nation is strapped to credit.

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