26 March 2009

Congressional Budget Office:"Obama's budget unsustainable"

Barack Hussein Obama's own Congressional Budget office has predicted some dire news if the president's 3.6 trillion dollar budget gets passed. But the backlash is approaching as word is spreading that the president's financial proposal would produce $9.3 trillion in deficits over the next decade -- or $2.3 trillion more than The Messiah publicly declared.

From Investors Business Daily:

The nonpartisan Congressional Budget Office says Obama's proposed budget comes up short on its estimates for spending, revenues and deficits — virtually everything.

Over 10 years, the CBO says, the cumulative deficit will reach $9.3 trillion, $2.3 trillion more than expected in the White House budget. Spending would jump permanently to 23% of GDP — and possibly higher — from 20% last year, a $1.7 trillion gain over that time.

Meanwhile, tax revenues will be reduced by $2.1 trillion over the next decade, in large part because the CBO expects the economy to perform far worse than the White House does.

To put it mildly, Congress is alarmed. So is the president.

They're alarmed because their plans call for a historic increase in the size of government, and they've suddenly realized the money won't be there. Washington's broke. The Democrats want nationalized health care, trillion-dollar bailouts and stimulus plans, thousands of pork-barrel projects, an expansion of the welfare state, carbon taxes and more cash for Social Security and Medicare.

The math is clear. In the next five years alone, Obama's budget adds $5.7 trillion to the U.S. debt. That's $48,000 per household. Put in perspective, servicing that debt each year will cost as much as the annual defense budget by the end of the decade.

People are waking up to what a disaster this guy is. Obama and his policies aren't full of "hope and change," they're full of job-kills and economic suicide.

The Detroit Free Press asks this question,“How would you and your family survive if Michigan were to lose another 121,000 jobs and gas prices go up 141% and electricity costs rise 177%? Is your family ready for that additional economic blow?” I suspect the answer is a resounding “no.”

Obama wants to kill our smoke-stack industries: Oil, coal and manufacturing. He thinks that coal, from which we get 50% of our electrical energy, will have to be highly regulated because of its green-house gas emissions. He's using the Global Warming Hoax in order to justify going after our industrial base. We're going to be paying more for oil, gas, electricity and the basic necessities.

Back to the the IDB:

They go on to say "that Since the broad-based Reagan cuts in 1982, the economy has been in recession just 10% of the time, inflation has never gone above 5%, interest rates have never been over 12%, and the stock market — even after two record drops — has averaged gains of 7% a year.

Reagan slashed taxes and simplified the code, and revenues and growth soared. That's what works, as dozens of studies prove.

So if they're sincere, Obama's tax reformers have a choice: follow the tax policies of Reagan and thrive, or those of Carter and fail. To us, it's a no-brainer.

Barack Hussein Obama is a hard-left ideologue. He's not looking to do whatever is good for the country - Obama only wants to help himself, his party, his favorite-pet-constituents (ACORN...et al.) and to ultimately push 51% of the US voting population onto the government dole. That way he'll ensure that people will vote to keep getting government benefits - they'll vote Democratic.

He's attempting the largest societal transformation that this country has ever seen. He only gives lip service to things like "tax cuts", "liberty", and "investment"

He and his team have co-opted the language. Investment is now code for entitlement spending. Tax cuts is code for welfare (since you can't give 95% of people a tax cut when only 40% actually pay!).

His budget also contains provisions to tax your private health care benefits, to eliminate the mortgage interest deduction, and to raise your tax rates if you make over $75,000.

He is a serial liar, no doubt. He's a Statist - all for the State, nothing for the individual.

This is Orwellian and pretty damn scary. I hope the Drones who voted for this wanker are feeling especially pleased with themselves.


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Anonymous said...

They can always sell off National monuments. There's cash in those old buildings and rocks.

Anonymous said...

He's no more a liar than the Bush family. Less so far. A politician is a politician, no matter the party.

Obama is a capitalist, he just goes about it in a different vein than those from which he succeeded.

I love it when you right wingers say Obama is far left. Wake up, he is pandering to Corporate America just like the Bushes. Remember YOUR guy started this bailout stuff.