Every day that Obama is in the White House we get further proof, not that we need it, that all we wants to do is redistribute wealth like a good little Socialist:
Listen to his whole rant here
This from a “Constitutional scholar”
He doesn’t want Congress to get into the “nickle and dime” business…which is in fact THE business they are supposed to conduct. More basic civics classes maybe Mr. Constitutional Scholar? (Like the man really taught anyone about the Constitution….puhlease)
The power of the purse is one of the checks and balances in our government. I mean really….does someone need to tell our President this fact?
Obviously someone does.
“you think we’re stupid?”
When in fact it is Obama who believes us to be stupid. There are no cuts that will be made by this President, instead his unicorns and lollipops will be paid for with higher taxes.
In his budget speech earlier this week, President Obama described his budget plan this way:
It’s an approach that achieves about $2 trillion in spending cuts across the budget. It will lower our interest payments on the debt by $1 trillion. It calls for tax reform to cut about $1 trillion in tax expenditures — spending in the tax code. And it achieves these goals while protecting the middle class, protecting our commitment to seniors and protecting our investments in the future.
Now with all these plans floating around — the debt commission, Paul Ryan’s — Goldman Sachs has tried to do an apples-to-apples comparison over 10 years (not 12 as White House tried to pull off). And here is what it found:
So of the 3.4 percentage points of savings, more than half — 1.9 points — comes from taxes. That’s 56 percent, not the one-third or one-quarter that Obama was talking about. And I am assuming that Goldman is using the White House’s rosier economic forecasts when evaluating Obama’s plan. (Ryan uses the gloomier ones from the Congressional Budget Office.)
What’s the “rosier” economic forecast?
For instance, take the president’s FY 2012 budget. CBO’s analysis of it indicates that it will add about 8.8 trillion in inflation-adjusted dollars to the deficit by 2021. That’s a lot. But it could be a lot more. CBO projects that real economic growth over the next decade will average 2.9 percent per year. If, however, real growth over the next decade mimics what we saw in the last 10 years (1.7 percent on average), my back-of-the-envelope calculation suggests we’d be talking about at least an $11.3 trillion inflation-adjusted deficit. That’s an additional $2.5 trillion just over an assumption about the economy.
More from Goldman Sachs:
Measured against the CBO alternative scenario, the President’s proposal relies more heavily on increased revenue than the other proposals. It assumes that the $1 trillion in proposed revenue increase (over 12 years) does not include the additional $700bn (over ten years) from allowing the upper-income tax provisions to expire; the President’s spending cut proposal is on the same general scale as the external commissions, though somewhat smaller, at around 1.5% of ten-year GDP.
Smoke and mirrors as he continues to spend…
And raise YOUR taxes.
Do you think we’re stupid?
Obviously he does.