Obama’s Era of Austerity is Over — Let The Big Spending Beginning — President Is Delusional Suffers From Spending Addiction Disorder (SAD) — Videos

Posted on February 22, 2014. Filed under: Agriculture, American History, Blogroll, Business, College, Communications, Constitution, Economics, Education, Federal Communications Commission, Federal Government, Federal Government Budget, Fiscal Policy, Food, Foreign Policy, government spending, Health Care, history, Illegal, Immigration, Inflation, IRS, Language, Law, Legal, liberty, Life, Links, Literacy, Math, Obamacare, People, Philosophy, Politics, Private Sector, Public Sector, Rants, Raves, Resources, Talk Radio, Tax Policy, Taxes, Unemployment, Unions, Video, War, Wealth, Wisdom | Tags: , , , , , , , , , , , , , , , , , , , , |

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The Pronk Pops Show Podcasts

Pronk Pops Show 216: February 21, 2014

Pronk Pops Show 215: February 20, 2014

Pronk Pops Show 214: February 19, 2014

Pronk Pops Show 213: February 18, 2014

Pronk Pops Show 212: February 17, 2014

Pronk Pops Show 211: February 14, 2014 

Pronk Pops Show 210: February 13, 2014

Pronk Pops Show 209: February 12, 2014

Pronk Pops Show 208: February 11, 2014

Pronk Pops Show 207: February 10, 2014

Pronk Pops Show 206: February 7, 2014

Pronk Pops Show 205: February 5, 2014

Pronk Pops Show 204: February 4, 2014

Pronk Pops Show 203: February 3, 2014

Pronk Pops Show 202: January 31, 2014

Pronk Pops Show 201: January 30, 2014

Pronk Pops Show 200: January 29, 2014

Pronk Pops Show 199: January 28, 2014

Pronk Pops Show 198: January 27, 2014

Pronk Pops Show 197: January 24, 2014

Pronk Pops Show 196: January 22, 2014

Pronk Pops Show 195: January 21, 2014

Pronk Pops Show 194: January 17, 2014

Pronk Pops Show 193: January 16, 2014

Pronk Pops Show 192: January 14, 2014

Pronk Pops Show 191: January 13, 2014

Pronk Pops Show 190: January 10, 2014

Pronk Pops Show 189: January 9, 2014

Pronk Pops Show 188: January 8, 2014

Pronk Pops Show 187: January 7, 2014

Pronk Pops Show 186: January 6, 2014

Pronk Pops Show 185: January 3, 2014

Pronk Pops Show 184: December 19, 2013

Pronk Pops Show 183: December 17, 2013

Pronk Pops Show 182: December 16, 2013

Pronk Pops Show 181: December 13, 2013

Pronk Pops Show 180: December 12, 2013

Pronk Pops Show 179: December 11, 2013

Pronk Pops Show 178: December 5, 2013

Pronk Pops Show 177: December 2, 2013

Pronk Pops Show 176: November 27, 2013

Pronk Pops Show 175: November 26, 2013

Pronk Pops Show 174: November 25, 2013

Pronk Pops Show 173: November 22, 2013

Pronk Pops Show 172: November 21, 2013

Pronk Pops Show 171: November 20, 2013

Pronk Pops Show 170: November 19, 2013

Pronk Pops Show 169: November 18, 2013

Pronk Pops Show 168: November 15, 2013

Pronk Pops Show 167: November 14, 2013

Pronk Pops Show 166: November 13, 2013

Pronk Pops Show 165: November 12, 2013

Pronk Pops Show 164: November 11, 2013

Pronk Pops Show 163: November 8, 2013

Pronk Pops Show 162: November 7, 2013

Pronk Pops Show 161: November 4, 2013

Pronk Pops Show 160: November 1, 2013

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Story 1: Obama’s Era of Austerity is Over — Let The Big Spending Beginning — President Is Delusional Suffers From Spending Addiction Disorder (SAD) — Videos

 Congressional Budget Office’s newest reports

45086-land-Figure1

In the past few years, debt held by the public has been significantly greater relative to GDP than at any time since just after World War II, and under current law it will continue to be quite high by historical standards during the next decade. With debt so large, federal spending on interest payments will increase substantially as interest rates rise to more typical levels. Moreover, because federal borrowing generally reduces national saving, the capital stock and wages will be smaller than if debt was lower. In addition, lawmakers would have less flexibility than they otherwise would to use tax and spending policies to respond to unanticipated challenges. Finally, such a large debt poses a greater risk of precipitating a fiscal crisis, during which investors would lose so much confidence in the government’s ability to manage its budget that the government would be unable to borrow at affordable rates.

http://cbo.gov/publication/45086

Federal Budget Deficits Are Projected to Decline Through 2015 but Rise Thereafter, Further Boosting Federal Debt

posted by Barry Blom & Leigh Angres on february 20, 2014

CBO recently released The Budget and Economic Outlook: 2014 to 2024. In that report, CBO projects that if current laws remain in place, the federal budget deficit will total $514 billion in fiscal year 2014. That deficit will be $166 billion smaller than the figure posted in 2013 and down sharply from the shortfalls recorded between 2009 and 2012, which exceeded $1 trillion annually. At 3.0 percent of gross domestic product (GDP), this year’s deficit would be near the average experienced over the past 40 years and about 7 percentage points lower than the figure recorded in 2009.

Today’s post summarizes CBO’s assessment of the budget outlook over the next decade. Three more posts—to appear over the next several days—will provide more detail about the outlook for spending, revenues, and the economy. One more post will expand upon CBO’s economic forecast, explaining the reasons behind the slow recovery of the labor market.

Under Current Law, Federal Debt Will Grow to 79 Percent of GDP at the End of 2024, CBO Estimates

CBO constructs it baseline projections of federal revenues and spending over the coming decade under the assumption that current laws generally remain unchanged. Under that assumption, revenues are projected to grow by about 1 percentage point of GDP over the next 10 years—from 17.5 percent in 2014 to 18.4 percent in 2024. But outlays are projected to rise twice as much, from 20.5 percent of GDP in 2014 to 22.4 percent in 2024. The increase in outlays reflects substantial growth in the cost of the largest benefit programs—Social Security, Medicare, and Medicaid—and in payments of interest on the government’s debt; those increases would more than offset a significant decline in discretionary spending relative to the size of the economy.

Although the deficit in CBO’s baseline projections continues to decline as a percentage of GDP in 2015, to 2.6 percent, it then starts to increase again in 2016, reaching 4.0 percent of GDP in 2024. That figure for the end of the 10-year projection period is roughly 1 percentage point above the average deficit over the past 40 years relative to the size of the economy.

That pattern of lower deficits initially, followed by higher deficits for the remainder of the projection period, would cause debt held by the public to follow a similar trajectory (see the figure below). Relative to the nation’s output, debt held by the public is projected to decline from 74 percent of GDP in 2014 to 72 percent of GDP in 2017, but to rise thereafter, to 79 percent of GDP at the end of 2024. (As recently as the end of 2007, debt held by the public was equal to 35 percent of GDP.)

Federal Debt Held by the Public

In the past few years, debt held by the public has been significantly greater relative to GDP than at any time since just after World War II, and under current law it will continue to be quite high by historical standards during the next decade. With debt so large, federal spending on interest payments will increase substantially as interest rates rise to more typical levels. Moreover, because federal borrowing generally reduces national saving, the capital stock and wages will be smaller than if debt was lower. In addition, lawmakers would have less flexibility than they otherwise would to use tax and spending policies to respond to unanticipated challenges. Finally, such a large debt poses a greater risk of precipitating a fiscal crisis, during which investors would lose so much confidence in the government’s ability to manage its budget that the government would be unable to borrow at affordable rates. (For a discussion of the consequences of elevated debt, see CBO’s December 2013 report Choices for Deficit Reduction: An Update.)

Projected Deficits Reflect Substantial Growth in the Cost of the Largest Benefit Programs

Projected deficits and debt for the coming decade reflect some of the long-term budgetary pressures facing the nation. The aging of the population, the rising costs of health care, and the expansion in federal subsidies for health insurance that is now under way will substantially boost federal spending on Social Security and the government’s major health care programs by 2 percentage points of GDP over the next 10 years (see the figure below). But the pressures of aging and the rising costs of health care will intensify during the next few decades. Unless the laws governing those programs are changed—or the increased spending is accompanied by corresponding reductions in other spending relative to GDP, by sufficiently higher tax revenues, or by a combination of those changes—debt will rise sharply relative to GDP after 2024. (For a more detailed discussion of the long-term budget situation, see CBO’s September 2013 report The 2013 Long-Term Budget Outlook.)

Spending and Revenues Projected in CBO's Baseline, Compared With Levels in 1974

Moreover, holding discretionary spending within the limits required under current law—an assumption that underlies these projections—may be quite difficult. The caps on discretionary budget authority established by the Budget Control Act of 2011 (Public Law 112-25) and subsequently amended will reduce such spending to an unusually small amount relative to the size of the economy. With those caps in place, CBO projects, discretionary spending will equal 5.2 percent of GDP in 2024; by comparison, the lowest share for discretionary spending in any year since 1962 (the earliest year for which such data have been reported) was 6.0 percent in 1999. (Nevertheless, total federal spending would be a larger share of GDP than its average during the past 40 years because of higher spending on Social Security, Medicare, Medicaid, other health insurance subsidies for low-income people, and interest payments on the debt.) Because the allocation of discretionary spending is determined by annual appropriation acts, lawmakers have not yet decided which specific government services and benefits will be reduced or constrained to meet the specified overall limits.

The Budget Outlook for the Coming Decade Has Worsened Since May 2013

The baseline budget outlook has worsened since May 2013, when CBO last published its 10-year projections. A description of the changes in CBO’s baseline since May 2013 can be found in Appendix A of the report. At that time, deficits projected under current law totaled $6.3 trillion for the 2014–2023 period, or about 3 percent of GDP. Deficits are now projected to be about $1 trillion larger. The bulk of that change occurred in CBO’s estimates of revenues: The agency has reduced its projection of total revenues by $1.6 trillion, mostly because of changes in the economic outlook. A decrease of $0.6 trillion in projected outlays through 2023 partially offset that change.

Barry Blom is an analyst in CBO’s Budget Analysis Division and Leigh Angres is special assistant to the CBO Director.

how_congress_spends_your_money

Bar Chart Data Source: Monthly Treasury Statement (MTS) published by the U. S. Treasury Department. WE DON’T MAKE THIS UP! IT COMES FROM THE U. S. GOVERNMENT! NO ADJUSTMENTS.

The MTS published in October, reports the final actual expenditures for the previous FY. This chart shows FY2013 actual spending data. Here is the link to download your own copy from the Treasury Department web site.

The chart normally shows the proposed budget line for the next fiscal year (FY2014 started 1 October 2013), but the two-year deal for 2014-2015 signed in December 2013, has so few details that showing a “budget” for 2014 or 2015 is no possible. And now Congress has passed the Appropriations (spending) bill that funds the budget through end of FY2014. The details are in a 1500+ page bill that no one in Congress read. But you CAN read it. Here it is H.R.3547 – Consolidated Appropriations Act, 2014. (it’s a large pdf document … give it time.)

But we may have an option; we will use the historical tables published by the OMB, about mid-FY2014, take the data from the “estimated” 2014 column. Look for it later.

The Congressional Budget Office reported on the Federal Debt and the Risk of a Financial Crisis in this report on the non-budget.

Look at the bar chart to find items that are growing and items that are being reduced. The largest growth is at the Department of Agriculture; it handles Food Stamps (SNAP). You pay taxes, your money is paying for food stamps.

– – – – – – –

Here is a MUST SEE … The Budget in Pictures!

NDAC studies the Budget Proposals submitted to the U.S. Senate each year by the President of the United States and the House of Representatives. One of the documents that goes along with the budget proposals, “Historical Tables“, is published by the Office of Management and Budget (OMB). Our analysis is discussed on the home page of this web site.

http://www.federalbudget.com/chartinfo.html

Out-of-Control Spending Is to Blame for America’s Deficit Problem

Federal spending is projected to grow at a rapid pace beyond the 10-year budget window. Without reforms, spending on interest on the debt, health care programs (Medicare, Medicaid, Obamacare, etc.), and Social Security will reach unsustainable levels. As a result, these spending levels will cause exploding deficits as tax revenues will be at their modern average level (1952-2008).

americas-deficit-federal-spending-680

Where Does All the Money Go?

In 2012, the major entitlement programs-Social Security, Medicare, Medicaid, and other health care-consumed 45 percent of all federal spending. These programs, and interest on the debt, are on track to consume an even greater share of spending in future years, while the portion of federal spending dedicated to other national priorities will decline.

SHARE OF FEDERAL SPENDING IN 2012

where-did-your-tax-dollar-go-680

Entitlement Program Spending Is Massive

Annual spending on Social Security, Medicare, Medicaid, and other health programs is massive compared to other federal spending priorities. There is too much waste and inappropriate spending in the discretionary budget as well, but Congress will not be able to rein in spending and debt without reforming the entitlement programs.

ESTIMATED ANNUAL SPENDING IN 2014

spending-cuts-680

Publicly Held Debt Set to Skyrocket

Runaway spending on Medicare, Medicaid, and Social Security will drive federal debt to unsustainable levels over the next few decades. Total national debt comprises publicly held debt (the most relevant to credit markets) and debt that one part of the government owes to another, such as the Social Security Trust Fund.

national-debt-skyrocket-680

All Tax Revenue Will Go Toward Entitlements and Net Interest by 2030

In less than two decades, all projected tax revenues would be consumed by three federal programs (Medicare, Social Security, and Medicaid, which includes CHIP and Obamacare) and interest on the debt. Entitlement reform is a must.

entitlements-historical-tax-levels-680

What if a Typical Family Spent and Borrowed Like the Federal Government?

Families understand that it is unwise to repeatedly spend much more than they take in. But Washington continues its shopping spree on the taxpayer credit card with seemingly no regard to the stack of bills the nation has already piled up.

typical-family-spent-like-government-680

debt-limit-by-president-680

The Beatles – Taxman

How Obama could kill the Democratic Party

The Price of a U.S. Credit Rating Downgrade

U.S. deficit to decline, then rise as labor market struggles: CBO

Top 10 MILITARY BUDGETS

America : DHS preparing for possible Riots / Martial Law on Nov 1st over Food Stamps

With 2015 budget request, Obama will call for an end to era of austerity

By Zachary A. Goldfarb

President Obama’s forthcoming budget request will seek tens of billions of dollars in fresh spending for domestic priorities while abandoning a compromise proposal to tame the national debt in part by trimming Social Security benefits.

With the 2015 budget request, Obama will call for an end to the era of austerity that has dogged much of his presidency and to his efforts to find common ground with Republicans. Instead, the president will focus on pumping new cash into job training, early-childhood education and other programs aimed at bolstering the middle class, providing Democrats with a policy blueprint heading into the midterm elections.

As part of that strategy, Obama will jettison the framework he unveiled last year for a so-called grand bargain that would have raised taxes on the rich and reined in skyrocketing retirement spending. A centerpiece of that framework was a proposal — demanded by GOP leaders — to use a less-generous measure of inflation to calculate Social Security benefits.

The idea infuriated Democrats and never gained much traction with rank-and-file Republicans, who also were unwilling to contemplate tax increases of any kind. On Thursday, administration officials said that the grand-bargain framework remains on the table but that it was time to move on.

“Over the course of last year, Republicans consistently showed a lack of willingness to negotiate on a deficit-reduction deal, refusing to identify even one unfair tax loophole they would be willing to close,” said a White House official, speaking on the condition of anonymity to describe the budget before its official release. “That is not going to stop the president from promoting new policies that should be part of our public debate.”

Republicans said emerging details of the president’s budget prove he was never serious about addressing the nation’s long-term debt problems.

“This reaffirms what has become all too apparent: the president has no interest in doing anything, even modest, to address our looming debt crisis,” Brendan Buck, a spokesman for House Speaker John A. Boehner (R-Ohio), said in a statement. “The one and only idea the president has to offer is even more job-destroying tax hikes, and that non-starter won’t do anything to save the entitlement programs that are critical to so many Americans.”

The new budget request, due out March 4, comes during a relative lull in Washington’s lengthy budget wars. Late last year, Congress approved a two-year spending plan negotiated by the chairmen of the House and Senate Budget committees, Rep. Paul Ryan (R-Wis.) and Sen. Patty Murray (D-Wash.), that would ease automatic cuts, known as the sequester, that were eating away at agency spending. And this month, Congress agreed to forgo another battle over the federal debt limit, voting to suspend its enforcement until March 2015.

The lack of conflict is due in part to the collapse of the deficit as a political issue. While annual budget deficits remain high by historical standards, they have shrunken rapidly over the past few years as the economy recovered and Congress acted to cut spending.

The latest estimates from the nonpartisan Congressional Budget Office show the deficit falling to$514 billion this year and to $478 billion in fiscal 2015 — well below the trillion-dollar deficits the nation racked up during the recession and immediately afterward. But the CBO warned that deficits would start to grow again in a few years.

n recognition of that fact, Obama would retain some parts of his grand-bargain framework, including a proposal to require wealthy seniors to pay more for Medicare benefits than they do now. White House officials said the president continues to believe that entitlement programs such as Medicare and Social Security must be reformed to be sustainable.

Meanwhile, Obama would fully pay for proposed new spending in his budget request, administration officials said, including $56 billion for what they called “Opportunity, Growth and Security Initiative.” The package, which would be split between domestic programs and defense, will include fresh cash for 45 new manufacturing institutes; a “Race to the Top” for states that promote energy efficiency; new job training programs and apprenticeships; and expanded educational programs for pre­schoolers.

White House officials declined to say Thursday how they would fund the initiative. But Obama has in the past proposed limiting the value of income-tax deductions for wealthy households and closing a variety of corporate tax breaks.

A senior administration official said the budget would also propose new corporate tax rules aimed at preventing companies from moving profits overseas to avoid U.S. taxes. For instance, the rules will seek to limit a company’s ability to borrow domestically — and take large tax deductions on the interest — and then invest the money overseas.

Prohibiting corporations from gaming the tax code has been a popular issue among Senate Democrats and would help emphasize bread-and-butter themes in a year when Democrats will also be focusing on raising the minimum wage and other populist measures.

“President Obama’s budget will be a powerful statement of Democratic principles,” Senate Majority Leader Harry M. Reid (D-Nev.) said in a statement.

Senior administration officials said they decided to chart a more partisan, aspirational path after Republicans failed to respond to the olive branch offered last year. Then, after two years of near-misses on the budget in negotiations with Boehner, Obama still believed a deal was possible.

Now, they said, the president is not so optimistic. And he believes it is up to Republicans to make the next move.

At the same time, the nation’s debt problem has become markedly less urgent, they said, leading the president to back away from the most controversial part of his debt-reduction framework — the proposal to adopt a new measure of inflation known as the chained consumer price index, or chained CPI.

Although other cost-cutting proposals could yet cause tensions within his party, Obama’s decision not to include chained CPI in his budget request immediately won praise from Democrats.

“I applaud President Obama for his important decision to protect Social Security,” Sen. Bernard Sanders, the liberal independent from Vermont, said in a statement. “With the middle class struggling and more people living in poverty than ever before, we cannot afford to make life even more difficult for seniors and some of the most vulnerable people in America.”

Officials said Obama’s budget request will include other nuggets of note. For example, it assumes that an overhaul of the nation’s immigration laws will pass Congress despite deep divisions in Republican ranks. It also assumes that a sharp, but somewhat mysterious slowdown in health-care spending will continue throughout the next decade.

As a result, the White House projects that annual budget deficits will fall below 2 percent of gross domestic product by the end of the decade. That outlook is much rosier than CBO projections, which show the deficit rising to 4 percent of GDP in 2024.

http://www.washingtonpost.com/business/economy/with-2015-budget-request-obama-will-call-for-an-end-to-era-of-austerity/2014/02/20/332808c2-9a6e-11e3-b931-0204122c514b_story.html

Obama’s “End of Austerity” Budget Is Incoherent

Kevin Glass

President Obama’s legally-required but constantly-delayed official budget request to Congress will be on Capitol Hill soon. The Washington Post reportsthat “Obama will call for an end to the era of austerity that has dogged much of his presidency.” There is much wrong with this worldview.

The only coherent way in which “austerity” has defined much of President Obama’s presidency is one in which America faced a once-in-a-generation economic crisis that President Obama himself responded to by massively ramping up federal spending over the course of his first few years in office. That increase in federal spending was combined with below-average tax revenue to create massive budget deficits that everyone, including President Obama, agreed were a problem.

In accordance with the general principles of Keynesian economics, Barack Obama enacted policies that cut the deficit as we continue to climb back out of the 2008 recession. Now, though, President Obama thinks the deficit is no longer a problem – so it’s time to increase it.

If I were a self-absorbed “fact checker” I’d rate this claim half-true. We’ve largely tamed the medium-term deficit through a mixture of tax hikes and spending cuts. Taming the deficit doesn’t mean that it won’t be a problem in the future – and indeed, the Congressional Budget Office’s newest reports confirm that the deficit should still rate highly on the problems that policymakers should be looking to solve.

The CBO’s long-term budget report finds that the deficit will dip in 2014 and 2015 but then will start rising – and will never stop due to our increasing health and retirement obligations. The CBO reports on why that’s bad:

In the past few years, debt held by the public has been significantly greater relative to GDP than at any time since just after World War II, and under current law it will continue to be quite high by historical standards during the next decade. With debt so large, federal spending on interest payments will increase substantially as interest rates rise to more typical levels. Moreover, because federal borrowing generally reduces national saving, the capital stock and wages will be smaller than if debt was lower. In addition, lawmakers would have less flexibility than they otherwise would to use tax and spending policies to respond to unanticipated challenges. Finally, such a large debt poses a greater risk of precipitating a fiscal crisis, during which investors would lose so much confidence in the government’s ability to manage its budget that the government would be unable to borrow at affordable rates.

It’s absurd that anyone would need to have a refresher on this, but apparently it’s needed: more debt is worse than less debt!

The CBO also confirms what has become even more apparent in the wake of Obamacare: the federal government is becoming less of a traditional government and more of a social insurance state, as more and more spending will go toward health and retirement entitlements, as well as the mere cost of servicing debt:

As Jonathan Chait points out, as a practical political reality, fighting the rise of our retirement obligations has about a ten-year lag time. It’s impractical to change the structure of retirement benefits – both Social Security and Medicare – for current and near-future beneficiaries. We need to get started on reforms now.

President Obama may want to put an end to the “era of austerity,” but it’s an era that he explicitly pushed for through his rhetoric, his desire for tax hikes and his compromises on spending cuts. The medium-term deficit might be under control, but that doesn’t mean fighting future deficits should no longer be a priority for policymakers.

http://townhall.com/tipsheet/kevinglass/2014/02/21/obamas-end-of-austerity-budget-is-incoherent-n1798636

Obama budget declares end to … austerity?

Say, did you know that we are living in the age of austerity budgets in Washington? This year’s budget will spend more than last year’s $3.44 trillion, but not as much as Barack Obama requested for FY2014, which was an apparently austere $3.778 trillion. Nevertheless, the Washington Post reports that a newly-emboldened President will demandan end to an “era of austerity” that we haven’t seen in decades with his new FY2015 budget proposal:

President Obama’s forthcoming budget request will seek tens of billions of dollars in fresh spending for domestic priorities while abandoning a compromise proposal to tame the national debt in part by trimming Social Security benefits.

With the 2015 budget request, Obama will call for an end to the era of austerity that has dogged much of his presidency and to his efforts to find common ground with Republicans. Instead, the president will focus on pumping new cash into job training, early-childhood education and other programs aimed at bolstering the middle class, providing Democrats with a policy blueprint heading into the midterm elections. …

Republicans said emerging details of the president’s budget prove he was never serious about addressing the nation’s long-term debt problems.

“This reaffirms what has become all too apparent: the president has no interest in doing anything, even modest, to address our looming debt crisis,” Brendan Buck, a spokesman for House Speaker John A. Boehner (R-Ohio), said in a statement. “The one and only idea the president has to offer is even more job-destroying tax hikes, and that non-starter won’t do anything to save the entitlement programs that are critical to so many Americans.”

The new budget request, due out March 4, comes during a relative lull in Washington’s lengthy budget wars. Late last year, Congress approved a two-year spending plan negotiated by the chairmen of the House and Senate Budget committees, Rep. Paul Ryan (R-Wis.) and Sen. Patty Murray (D-Wash.), that would ease automatic cuts, known as the sequester, that were eating away at agency spending. And this month, Congress agreed to forgo another battle over the federal debt limit, voting to suspend its enforcement until March 2015.

So what will be the top-line number for the FY2015 budget that will end this “era of austerity”? Actually, the Post doesn’t report the top-line outlay number, and the OMB doesn’t have the budget request available on the White House portal yet. One presumes that ending austerity means a demand north of the $3.498 trillion that House Republicans proposed in their budget plan from late last year. It may just be an additional $56 billion over the actual FY2014 levels, which would make it far below his FY2014 proposed budget.

Let’s take a look at all that austerity in the Obama presidency, shall we? Heritage produced this handy graphic in the middle of last year, but it’s very useful now:

heritage-fed-spending

Outlays for FY2014 authorized in the recent budget deal are still a bit ambiguous in the reams of data from both Congress and the White House, but CBO estimates it at $3.54 trillion. At that level, we are spending 9.3% more in FY2014 than in FY2008, the last budget signed by George W. Bush (Democrats stalled the FY2009 budget with continuing resolutions until Obama signed an omnibus bill in March 2009 to complete that budget).If the new budget ends “austerity” by returning to Obama’s original top-line outlay demand of last year’s budget request, that will mean an additional increase of federal spending of 6.7% in just one year. If it’s just $56 billion more than the actual FY2014 outlays, then the notion that this ends “austerity” is doubly laughable.

The notion that we’ve been laboring under an “era of austerity” is as ridiculous and out of touch as … well, as most of Obama’s budget requests during his presidency. This one has just as much chance of being enacted, too. The Post suggests that Democrats can use this to beat up Republicans on the campaign trail, but the GOP can easily parry that with this question: “Do you really believe Washington deserves a 6.7% raise after ObamaCare?” Good luck winning on this issue.

http://hotair.com/archives/2014/02/21/obama-budget-declares-end-to-austerity/

Obama budget could be costly to Dems

By Chris Stirewalt

OBAMA BUDGET COULD BE COSTLY TO DEMS
The White House is teasing the president’s soon-to-be released blueprint for the next federal fiscal year. In a nod to his core liberal supporters, the president has dropped a prior nod to entitlement fixes, so-called “chained CPI,” a change in how to calculate the size of future increases to Social Security and other programs. The president is sucking up to his political base, the members of which consider the current trajectory for future hikes to be sacrosanct. That’s pretty good politics, especially since Obama did not seem particularly enthused about the idea before and that there is zero chance that this budget or any budget will be passed this election year. Republicans may be harrumphing about the president’s “unserious” approach to the debt, but it’s not like they thought otherwise before. Nor will the House GOP budget be anything more than pipe dreams. Poof!

You call that austerity? – Many pixels are being slaughtered to discuss the president’s irrelevant budget. Why? Partly, it’s because reporters salivate over anything that looks exclusive or new in a city where governing goes to die. Here in the great gridlock desert, this stuff may pass for news. But also because liberals are excited to see their champion drop the smokescreen of deficit concern. The prevailing Democratic wisdom is that deficits don’t matter and that Republicans ought to shut up about them. The WaPo enthused: “With the 2015 budget request, Obama will call for an end to the era of austerity that has dogged much of his presidency and to his efforts to find common ground with Republicans.” Austerity? The federal government continues to spend way more than it takes in and outlays in the Obama era have increased. From 2009 through 2012, the administration spent about $3.5 trillion a year. The approximate federal spending for the fiscal year that ended in October was $3.62 trillion. The estimate for the current year: $3.78 trillion. The Greeks would love to get some austerity like that.

Unicorns, rainbows and midterms – The WaPo goes on to say that instead of worrying about deficits, “…the president will focus on pumping new cash into job training, early-childhood education and other programs aimed at bolstering the middle class, providing Democrats with a policy blueprint heading into the midterm elections… The lack of conflict is due in part to the collapse of the deficit as a political issue. While annual budget deficits remain high by historical standards, they have shrunken rapidly over the past few years as the economy recovered and Congress acted to cut spending.” Wait. What? A Fox News Poll at the end of January showed that more voters said the federal deficit and Social Security outranked terrorism, foreign policy, guns and immigration as the most important issues for the government. Only the economy and health care were higher on the list of voter concerns. Nothing come close to those two, but do Democrats really think that they are off the hook for being the party of more borrowing and spending? Just because Republicans scampered away from the last debt limit lift fight doesn’t mean this isn’t potent stuff. If Democrats believe that borrowing more than half-a-trillion dollars can be turned into a political plus, they must be back to smoking Hopium. And remember, we haven’t even heard about all of the new taxes that the president will propose. Democrats are marching forward with the banner of bigger government aloft at precisely the moment Americans are fed up with ObamaCare the last big government initiative the Obama Democrats bequeathed them.

http://www.foxnews.com/politics/2014/02/21/obama-budget-could-be-costly-to-dems/

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“I Will Be Held Accountable” –Obama’s Economic Policies Result In Longest Period of Unemployment Since The Great Depression–End The Loafing–Videos

Posted on February 17, 2012. Filed under: American History, Blogroll, Business, Communications, Economics, Employment, Federal Government Budget, Fiscal Policy, government, government spending, history, Homes, Law, liberty, Life, Links, media, People, Philosophy, Politics, Public Sector, Raves, Tax Policy, Unemployment, Unions, Video, War, Wealth, Wisdom | Tags: , , , , , , , , , |

Obama One Term Proposition: “I Will Be Held Accountable”

Abbot & Costello Explain Obama’s Stimulus Plan For Workers

3 Years is Up, Mr. President. We Can’t Afford Another 4

Unemployment and Obama’s re-election 

Preview: Trapped in Unemployment

Great Depression key figures

Rick Santelli: Here’s What’s Wrong With the Jobs Number

The Unemployment Game Show: Are You *Really* Unemployed?

Unemployment Rate Primer 

Mark Levin Talks About Obama Cooking The Books On The Unemployment Rate

ShadowStats’ John Williams Explains Why It’s All Been Downhill Since 1973

Bureau of Labor Statistics

Labor Force Statistics from the Current Population Survey

http://data.bls.gov

Unemployment Level In Thousands

Unemployment Rate Percent U-3

Total Unemployment Rate Percent U-6

Series Id:  LNS13327709

Seasonally Adjusted Series title:        (seas) Total unemployed, plus all marginally attached workers plus total employed part time for economic reasons, as a percent of all civilian labor force plus all marginally attached workers

Labor force status:  Aggregated totals unemployed

Type of data:        Percent or rate

Age:  16 years and over

Percent/rates:  Unemployed and mrg attached and pt for econ reas as percent of labor force plus marg attached

 

 

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
1994 11.8 11.4 11.4 11.2 10.8 10.9 10.7 10.5 10.4 10.3 10.1 10.0  
1995 10.2 9.9 9.9 10.0 10.0 10.1 10.1 10.0 10.1 9.9 10.0 10.0  
1996 9.8 10.0 9.8 9.9 9.7 9.6 9.7 9.3 9.4 9.4 9.3 9.5  
1997 9.4 9.4 9.1 9.2 8.8 8.8 8.6 8.6 8.7 8.4 8.3 8.4  
1998 8.4 8.4 8.4 7.9 7.9 8.0 8.1 7.9 7.9 7.8 7.6 7.6  
1999 7.7 7.7 7.6 7.6 7.4 7.5 7.5 7.3 7.4 7.2 7.1 7.1  
2000 7.1 7.2 7.1 6.9 7.1 7.0 7.0 7.1 7.0 6.8 7.1 6.9  
2001 7.3 7.4 7.3 7.4 7.5 7.9 7.8 8.1 8.7 9.3 9.4 9.6  
2002 9.5 9.5 9.4 9.7 9.5 9.5 9.6 9.6 9.6 9.6 9.7 9.8  
2003 10.0 10.2 10.0 10.2 10.1 10.3 10.3 10.1 10.4 10.2 10.0 9.8  
2004 9.9 9.7 10.0 9.6 9.6 9.5 9.5 9.4 9.4 9.7 9.4 9.2  
2005 9.3 9.3 9.1 8.9 8.9 9.0 8.8 8.9 9.0 8.7 8.7 8.6  
2006 8.4 8.4 8.2 8.1 8.2 8.4 8.5 8.4 8.0 8.2 8.1 7.9  
2007 8.4 8.2 8.0 8.2 8.2 8.3 8.4 8.4 8.4 8.4 8.4 8.8  
2008 9.2 9.0 9.1 9.2 9.7 10.1 10.5 10.8 11.1 11.8 12.7 13.5  
2009 14.2 15.1 15.7 15.8 16.4 16.5 16.5 16.7 16.8 17.2 17.1 17.1  
2010 16.7 16.9 16.9 17.0 16.6 16.5 16.5 16.6 16.9 16.8 16.9 16.6  
2011 16.1 15.9 15.7 15.9 15.8 16.2 16.1 16.2 16.4 16.0 15.6 15.2  
2012 15.1                        

 

High Unemployment  No Future Employment

 

Price discusses CBO Annual Report on CNBC’s The Kudlow Report

President Obama should be held accountable for economic policies not working.

The price for failure to deliver on his promises of hope and change should be defeat in the next election.

Vote for Ron Paul.

Stop the Budget Bandits

Ending Spending: Budget Bandits 

Ron Paul Ad – Believe 

Ron Paul Ad – Secure

Ron Paul Ad – Plan

Ron Paul  – “The one who can beat Obama” 

Background Articles and Videos

The United States is Experiencing the Longest Stretch of High Unemployment Since the Great Depression

“…The rate of unemployment in the United States has exceeded 8 percent since February 2009, making the past three years the longest stretch of high unemployment in this country since the Great Depression. CBO projects that the unemployment rate will remain above 8 percent until 2014. The share of unemployed people who have been looking for work for more than six months—referred to as the long-term unemployed—topped 40 percent in December 2009 and has remained above that level ever since. …”

“…What Are the Consequences of Unemployment?

Households with unemployed workers are adversely affected by joblessness in many ways. For workers who have been displaced through no fault of their own—for example, those who lost or left a job because their plant or company closed or moved—the drop in earnings associated with losing a job during a recession may persist for many years, even when these workers eventually find a new job. Older workers and those with long tenure in their previous job are especially vulnerable because new jobs for those workers typically pay less and offer less potential for earnings growth.

Other types of unemployed workers—for example, people entering the labor market for the first time (typically after completing school)—are also adversely affected by a weak economy. People who start their career in times of high unemployment tend to have persistently lower earnings than their counterparts who begin seeking work under better economic circumstances. In addition to its immediate and lasting effects on earnings and family finances, unemployment is also correlated with deteriorating mental and physical health and with increased mortality. ….”

http://cboblog.cbo.gov/?p=3333

CBO: Longest Period of High Unemployment Since Great Depression

CBO: U.S. enduring the longest period of high unemployment since the Great Depression

      By  Alex M. Parker

“…After three years with unemployment topping 8 percent, the U.S. has seen the longest period of high unemployment since the Great Depression, the Congressional Budget Office noted in a report issued today.

And, despite some recent good news on the economic front, the CBO is still predicting that unemployment will remain above 8 percent until 2014. The report also notes that, including those who haven’t sought work in the past four weeks and those who are working part-time but seeking full-time employment, the unemployment rate would be 15 percent.

The CBO made its comments in a report examining the long-term effects of joblessness, and possible policy options to boost employment, including unemployment insurance reforms and job training programs. The report came at the request of Democratic Michigan Rep. Sander Levin, but Republicans quickly jumped on the chance to bash President Obama’s stimulus program, which is also reaching its three-year anniversary today.

“The stimulus is a stark reminder of how the president got the policies he wanted, and how those policies have failed the American people and are making things worse,” said Texas Republican Rep. Jeb Hensarling. …”

http://www.usnews.com/news/articles/2012/02/16/cbo-longest-period-of-high-unemployment-since-great-depression

 

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Reelect Obama and Taxes Increase By 30% According to Congressional Budget Office (CBO)–Your Share of National Debt Up $16,000 Under Obama!–Videos

Posted on January 31, 2012. Filed under: American History, Blogroll, Business, College, Communications, Economics, Education, Employment, Federal Government, Federal Government Budget, Fiscal Policy, Foreign Policy, government, government spending, history, Language, Law, liberty, Life, Links, Macroeconomics, media, Philosophy, Politics, Talk Radio, Tax Policy, Video, War, Wealth | Tags: , , , , , , , , , , , , , |

http://www.cbo.gov/budget/budget.cfm

http://www.federalbudget.com

U.S Debt Clock Real Time

http://www.usdebtclock.org/

Fair share? – Each American’s share of debt up $16,000 under Obama

US Treasury: Will borrow $444 bln Jan.-Mar. CCTV News

Ron Paul Ad – Plan 

Ron Paul: Preserve Social Security Benefits, Cut Foreign Spending, End Wasteful Agencies 

Ron Paul: Save Social Security by Cutting Spending

Ron Paul on taxes 

Ron Paul on Extending the Tax Cut 

WSJ Economist: Ron Paul’s 0% Income Tax = Massive Insourcing of Jobs into America 

Debt Crisis Explained: Similarities, Differences and Lessons Learned from the US

What exactly is this US debt crisis? Why does a country borrow? When a country spends more than it earns through revenues, it has to borrow money from the global market to meet the expenditure. The country also needs to pay back the debt in installments over a period of time. This is called as debt obligations. So once a country borrows, the expenditure of the country shoots up. Hence the next time the country has to borrow more to meet not just the expenditure but also the debt obligations. From this you can understand that the countries’ debt amount goes on increasing with time as they borrow more and more. United States is no different and is also under a huge debt of $14.3 trillion at present. In fact, lending money to US is considered as a safe and promising investment. It is very common for a country to spend more than its revenues. So it is also normal for a country to borrow. In 2011 federal budget, the US government estimated the expenditure at $3.82 trillion and revenues at something more than $2 trillion. That implies a deficit of around $1.5 trillion. Under normal situation, US govt. would have borrowed and compensated this deficit. But they couldn’t because of the debt ceiling that is set by the US Congress. ●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●
What is debt ceiling? Debt ceiling is a cap set by the US Congress on the amount of debt the government can borrow. The limit was first set in 1917 at $11.5 billion. Whenever the govt. reaches the ceiling, it can’t borrow more. Every time the cap is reached the Congress approves a higher debt ceiling and directs the treasury to borrow more. To raise the cap, a legislation has to be passed in both the houses of the Congress: the Senate and the House of Representatives. The cap was last raised to $14.3 trillion which the current govt. reached in May this year. Since then the US is not being able to borrow more debt. ●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●●

The Crisis of Credit Visualized – HD 

CBO: Taxes Will ‘Shoot Up by More Than 30 Percent’ Over Next 2 Years

“…The amount of money the federal government takes out of the U.S. economy in taxes will increase by more than 30 percent between 2012 and 2014, according to the Budget and Economic Outlook published today by the CBO.

At the same time, according to CBO, the economy will remain sluggish, partly because of higher taxes.

“In particular, between 2012 and 2014, revenues in CBO’s baseline shoot up by more than 30 percent,” said CBO, “mostly because of the recent or scheduled expirations of tax provisions, such as those that lower income tax rates and limit the reach of the alternative minimum tax (AMT), and the imposition of new taxes, fees, and penalties that are scheduled to go into effect.” …”

“…According to the CBO report, federal tax revenues equaled $2.302 trillion in fiscal 2011, and will increase to $2,523 trillion in fiscal 2012, $2,988 trillion in fiscal in 2013, and $3,313 trillion in 2014.

As a percentage of GDP, according to CBO, federal tax revenues were 15.4 percent in fiscal 2011, and will be 16.3 percent in 2012, 18.8 percent in 2013, and 20.0 percent in fiscal 2014. …”

http://cnsnews.com/news/article/cbo-taxes-will-shoot-more-30-percent-over-next-2-years

The Budget and Economic Outlook

January2012

The Economic Outlook

http://www.slideshare.net/cbo/charts-from-cbos-january-2012-budget-and-economic-outlook

Summary

Each January, CBO prepares “baseline” budget projections spanning the next 10 years. Those projections are not a forecast of future events; rather, they are intended to provide a benchmark against which potential policy changes can be measured. Therefore, as specified in law, those projections generally incorporate the assumption that current laws are implemented.

But substantial changes to tax and spending policies are slated to take effect within the next year under current law. So CBO has also prepared projections under an “alternative fiscal scenario,” in which some current or recent policies are assumed to continue in effect, even though, by law, they are scheduled to change. The decisions made by lawmakers as they confront those policy choices will have a significant impact on budget outcomes in the coming years.

CBO’s Current-Law Baseline

CBO projects a $1.1 trillion federal budget deficit for fiscal year 2012 if current laws remain unchanged. Measured as a share of the nation’s output (gross domestic product, or GDP), that shortfall of 7.0 percent is nearly 2 percentage points below the deficit recorded in 2011, but still higher than any deficit between 1947 and 2008. Over the next few years, projected deficits in CBO’s baseline decline markedly, dropping to under $200 billion and averaging 1.5 percent of GDP over the 2013–2022 period.

Revenues

Much of the projected decline in the deficit occurs because, under current law, revenues are projected to shoot up by almost $800 billion, or more than 30 percent, between 2012 and 2014—from 16.3 percent of GDP in 2012 to 20.0 percent in 2014. That increase is mostly the result of of the recent or scheduled expirations of tax provisions, such as those initially enacted in 2001, 2003, and 2009 that lower income tax rates and those that limit the number of people subject to the alternative minimum tax (AMT).

Under current law, CBO projects that revenues will continue to rise relative to GDP after 2014 largely because increases in taxpayers’ inflation-adjusted income will push more income into higher tax brackets and subject more of it to the AMT.

Spending

Outlays in CBO’s baseline projections decline modestly relative to GDP over the next several years before turning up again later in the decade. The modest declines are the result of an expanding economy and statutory caps on discretionary appropriations. The aging of the population and rising costs for health care drive increases in spending in later years.

Projected spending in CBO’s baseline averages 21.9 percent of GDP over the 2013–2022 period. That figure is less than the 23.2 percent CBO estimates for 2012, but it remains elevated by historical standards. As a share of GDP, discretionary spending is projected to decline to its lowest level in the past 50 years by 2022, but that decline will be partially offset by increases in spending for mandatory programs, which are projected to climb from 13.3 percent of GDP in 2013 to 14.3 percent in 2022. Driven by higher interest rates and additional accumulation of debt, net interest costs will grow significantly—from 1.4 percent of GDP this year to 2.5 percent in 2022.

CBO’s Alternative Fiscal Scenario

CBO’s baseline projections are heavily influenced by changes in tax and spending policies that are embodied in current law—changes that in some cases represent a significant departure from recent policies.

CBO’s alternative fiscal scenario shows the budgetary consequences of maintaining certain tax and spending policies that have recently been in effect. That scenario incorporates the following assumptions:

  • Expiring tax provisions (other than the payroll tax reduction) are extended [under current law, those expirations will boost individual income taxes in a variety of ways by amounts totaling $3.8 trillion from 2013 through 2022];
  • The AMT is indexed for inflation after 2011 [under current law, its parameters are fixed, and the number of taxpayers affected by the AMT will jump from 4 million in calendar year 2011 to 30 million in 2012];
  • Medicare’s payment rates for physicians’ services are held constant at their current level [under current law, those rates are scheduled to drop by 27 percent this March and more in later years]; and
  • The automatic spending reductions required by the Budget Control Act do not take effect [under current law, they will impose reductions totaling about $109 billion a year starting in January 2013].

Under that alternative fiscal scenario, far larger deficits and much greater debt would result than are shown in CBO’s baseline. Deficits would average 5.4 percent of GDP over the 2013–2022 period, rather than the 1.5 percent reflected in CBO’s baseline projections. Debt held by the public would climb to 94 percent of GDP in 2022, the highest figure since just after World War II.

The Economic Outlook

In part because of the dampening effect of the higher tax rates and curbs on spending scheduled to occur this year and next, CBO expects that the economy will continue to recover slowly, with real GDP growing by 2.0 percent this year and 1.1 percent next year (as measured by the change from the fourth quarter of the previous calendar year). CBO expects economic activity to quicken after 2013 but to remain below the economy’s potential until 2018.

In CBO’s forecast, the unemployment rate remains above 8 percent both this year and next, a consequence of continued weakness in demand for goods and services. As economic growth picks up after 2013, the unemployment rate will gradually decline to around 7 percent by the end of 2015, before dropping to near 5½ percent by the end of 2017.

While the economy continues to recover during the next few years, inflation and interest rates will remain low. In CBO’s forecast, the price index for personal consumption expenditures increases by just 1.2 percent in 2012 and 1.3 percent in 2013, and rates on 10-year Treasury notes average 2.3 percent in 2012 and 2.5 percent in 2013. As the economy’s output approaches its potential later in the decade, inflation and interest rates will rise to more normal levels.

Many developments could produce economic outcomes that differ from CBO’s forecast. For example:

  • The forces that have restrained the economy’s recovery could fade more rapidly than anticipated.
  • A significant worsening of the banking and fiscal problems in Europe could spill over to U.S. financial markets and greatly weaken the economy here.
  • Changes in fiscal policy that diverge from those in CBO’s baseline could affect economic growth.

CBO’s alternative fiscal scenario represents one possible set of changes in fiscal policy. Under that scenario, real GDP would be noticeably higher in the next few years than it is in CBO’s baseline economic forecast: CBO estimates that, with such changes in policy, real GDP in the fourth quarter of 2013 would be between 0.5 percent and 3.7 percent greater than in the baseline forecast, and that the unemployment rate would be between 0.3 and 1.8 percentage points lower. But, over time, the resulting larger deficits would reduce private investment in productive capital and result in real GDP that would fall increasingly below the level in CBO’s baseline projections.

http://www.cbo.gov/doc.cfm?index=12699

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The Obama Big Lie and Inconvenient Truth About Health Care–The Public Option Trojan Horse–Leads To A Single Payor Goverment Monopoly of Health Care and The Bankruptcy of USA!

Posted on July 7, 2009. Filed under: Blogroll, Communications, Computers, Employment, Health Care, Links, Medicine, People, Politics, Quotations, Rants, Raves, Regulations, Science, Technology, Video, Wisdom | Tags: , , , , , , , , , , , , , , , , , , , , , , |

 UPDATED

monitor

M3, longer term chart

m3b

 

“…M3 consists of M2, institutional money market mutual funds, time deposits in amounts of $100,000 or more, repurchase agreement liabilities of depository institutions (in denominations of $100,000 or more) on U.S. government and federal agency securities, and Eurodollars.

For reference, and as of early 2007, M3 is about $11.5 trillion, M2 about $7.1 trillion, institutional money markets funds about $1.4 trillion, jumbo CDs about $1.7 trillion, repos about $.67 trillion ($670 billion) and estimated Eurodollars are about $.61 trillion ($610 billion).
11/30/2007 – Note that much of the large growth in M3 lately has been in flows into CDs and Money Market Funds, a normal occurrence during financial turmoil. See our financial crisis page for more detail, and a picture of the current level of a U.S. financial crisis.  …”

fed_all_short_stacked

http://nowandfutures.com/key_stats.html

Glenn Beck on the US Financial crisis

U.S. Headed For Fiscal Crisis?

I.O.U.S.A.: Byte-Sized – The 30 Minute Version

http://www.youtube.com/watch?v=O_TjBNjc9Bo 

 

Stop Spending Our Future – The Crisis

The leaders and political elites of both political parties, Democrats and Republicans, are not telling the American people the truth–the United States is broke and cannot afford any new entitlement programs.

The United States cannot grow its way out the financial crisis to provide the funding for the liabilities the Federal Government already promised to pay for Social Security and Medicare entitlement programs.

Any politican who proposes either new entitlement programs or the expansion of existing programs such as Social Security or Medicare is fiscally irresponsible and is pandering and lying to the American people.

Both former President Bush and now President Obama are two of the most fiscally irresponsible Presidents this nation’s voters foolishly elected to the office of President.

Stop The Spending and Deficits

US Federal Government Deficits

federal_spending

 

 

Our first Green On The Outside and Red On The Inside President Obama only makes a  huge and unsustainable entitlement problem and crisis infinitely worse.

By proposing a new entitlement program–universal health care with a public option of a government insurer–Presidemt Obama is now threatening all those Americans who are satisfied with their health care and insurance plan.

A public option leads slowly and surely to Socialized Medicine or a Government Single Payer health care system and the bankruptcy of the United States!

The cost of such a new entitlement program is beyond the means of the American people and the US economy to pay for and sustain.

It would add trillions  of dollars to the already bloated US deficits.

Kill the Obama Universal Health Care bill before it kills you and bankrupts the United States of America.

Both the Federal Government Medicare and Medcaid pay less than the cost of the services provided by doctors and hospitals.

This results in doctors and hospitals shifting the unreimbused cost to private insurers.

Rep. Paul Ryan points out that Health Care Reform will be the most Important Vote

Rep. Brady (R-TX) asks CBO Director Elmendorf if we know the cost of the Dems Health Care Bill

The Federal Government is the problem not the solution.

One of the primary reasons private insurance premiums are rising is the Federal Government does not pay the full bill.

Will Fox testifies before Congress

Government caused the uninsured

When you need medical care for a serious condition, the Government will make you wait until it is too late.

Dead men tell no tales.

The Federal Government will use rationing and long waits to cut the cost of medical care.

Yaron Brook’s Call to Action – July 2009

This will result in the killing and torture of old people and those with serious medical conditions that would be too expensive to treat. 

The old and infirm will have to sit and wait for care, surgery and drugs that are never provided in a timely manner,  if at all.

The Downside Of British Health Care

This is exactly what happens now in countries that have socialized medicine or a single payer system.

The government simply waits you out so that they do not have to pay for your health care in a timely manner.

Canada Is A Perfect Example Of The Free Health Care Failing

Canadians to Americans: Don’t make your healthcare like ours

The Down Side of the Canadian Healthcare System

Why do you think people from all around the world come to the United States for treatment?

They know that if they wait for their country’s health care system to provide the care, they may die or be in pain for months or years.

In the United States they will be treated quickly to avoid unnecessay pain and suffering.

Obama’s Health Care Deception

Obama on single payer health insurance

SEIU, the White House & ACORN


 

Health Care Forum: Barack Obama (1 of 3)

Health Care Forum: Barack Obama (2 of 3)

[

Health Care Forum: Barack Obama (3 of 3)

Any candidate of any political party that gives any indication to the American people that they are going  to replace, tax, or threaten the American  people’s health care and insurance coverage, can deservedly expect to be defeated in the next election.

The progressive radical socialists lead by President Obama are a clear and present danager to your life, health care and current insurance plan.

Send a message both to President Obama and your Senators and Representative by signing the Free Our Health Care Petition:

http://www.freeourhealthcarenow.com/

ncpa_header4

Please take a minute to sign this petition keeping Government control OUT of healthcare.

http://www.freeourhealthcarenow.com/

 

When you are not treated for a heart attack, the red line will flatten out on the monitor.

You may very well die if you do not stop the passage of President Obama’s universal health care plan.

The American people and economy cannot pay for the medical care of illegal aliens who work in the United States.

The United States Federal Government could go a long way in lowering the number of Americans unemployed now exceeding 15,000,000 as well as lowering the number of uninsured Americans by simply enforcing the immigration laws.

Require all businesses to use E-Verify to determine the legal status of a person to work in the United States.

Attempt to Block E-Verify

E-Verify & Border Fence may be canceled

Obama Admin wants to kill E-Verify

Obama Adm Favors Illegal Immigration

All illegal aliens now working in the US would be replaced by American citizens.

All illegal aliens would be removed from their work place and deported to their country of origin.

All illegal aliens would have to pay upfront the cost of medical care.

Unless the Federal Government starts enforcing immigration laws, more and more hospitals will be closing throughout the United States.

Again the Federal Government is the problem for not paying their medical bills in full and not stopping illegal aliens from working in the United States.
 

Health care and illegal immigration TV ad in California

Giving Up California to the Illegal Invaders

With the Federal Reserve rapdily increasing the money supply as measured by M3 (green line)–inflation will soon be coming back as measured by the CPI-U–Consumer Price Index (black line).

m2m3_cpi_money_supply

The result is your own money is worth less as its purchasing power declines.

This is a hidden tax.

Time for the American people to get mad and tell off their Representatives and the Senators.

Time for the Representatives and Senators to earn their pay and actually read the billl, balance the budget and pay down the national debt with budget surpluses and not massive deficits.

Time for the Federal Government to close down entire Departments not expand their budgets and programs.

The Federal Government like families and businesses needs to live within its means.

Reform and save both the Social Security and Medicare programs by letting the American people have ownership over their retirement and health insurance program instead of relying upon the mere promises of the Federal Government.

Stop messing with the American people’s health care insurance plans and running up huge budgetary deficits by spending more than the tax revenues collected each year.

If the progressive radical socialists of the Democratic Party really wanted more competition in the health care insurance market to “keep them honest”,  they would provide the same tax-advantages to individuals that employers have in providing a group plan by making individual premium payments tax deductible.

Next the Federal Government should permit employers to offer as an option of an individual health insurance plan as an alternative to group health insurance.

Health savings accounts should be encouraged with higher annual contribution limits and letting individuals and families with individual health insurance plans to have a health savings account.

These three reforms would encourage more people to become insured that currently elect not to purchase coverage and would address their portability concerns as they move from job to job.

Individuals would be permitted to purchase individual health insurance from companies doing business in any state and not just the state where they call home.

Insurance companies would provide individual plans that could be customized to the needs of the individual and their families.

Act responsibly for a change and keep the Federal Government out of the insurance business.

UPDATED

Like the backloaded stimulus bill, the proposed healthcare bill is also backloaded with most of the cost impact taking place after 2012 with a five year cost of $979 billion or nearly $200 billion per year:

“…It’s important to keep in mind that the most costly aspects of the legislation involve providing subsidies to individuals to purchase health care ($773 billion) and to expand Medicaid ($438 billion), but it takes several years for those provisions to kick in. As you can see from the chart below, that means that the costs start out relatively modest but ramp up over time. In the first three years of the plan the cost of the subsidies and Medicaid expansion is just $8 billion; in the first five years, it’s $202 billion; but in the last five years, it’s $979 billion. Put another way, 17 percent of the spending comes in the first five years, while 83 percent comes in the second five years. What this means is that the American people see $1 trillion over 10 years and they think that means the bill would cost about $100 billion a year — but the reality is more than double that. In the final year of the CBO estimates, 2019, the spending hits $230 billion….”

 

 

http://spectator.org/blog/2009/07/14/10-year-time-frame-obscures-fu

 

Put this kill the old people with health care rationing   out of its misery by defeatiing the bill now.

The life you save may be your own.

Do not let Obama kill you softly with his song of  socialized medicine.

shovell_ready_socialized_medicine

 

Roberta Flack-Killing Me Softly With His Song

 

Background Articles and Videos

 

Document drop: CBO scores the health care takeover

By Michelle Malkin  

“…A Senate staffer passes along the CBO/Joint Committee on Taxation report scoring the House health care takeover.

Bottom line from the staffer:

$1.042 trillion over “ten years”, though the program really gets going in 2015 so its more like a 5 year score. Also, don’t forget most bills carve out unions so that they have a reprieve. Who needs card check [with] US government health insurance as a recruiting tool.

I’ve uploaded the full report: Read it here.

From the caveats section of the report intro:

Important Caveats Regarding This Preliminary Analysis

There are several reasons why the preliminary analysis that is provided in this letter and its attachments does not constitute a comprehensive cost estimate for the coverage provisions of America’s Affordable Health Choices Act:

• First, our analysis was based on specifications regarding insurance coverage that were provided by the tri-committee group and that differ in important ways from the “discussion draft” version of legislative language that was released on June 19, 2009. The specifications that we analyzed are supposed to be reflected in the draft language released by the three committees today, but we have not yet been able to analyze that language to determine whether it conforms to those specifications. Our review of that language could have a significant effect on our analysis. More generally, as our understanding of the specifications improves, that also could affect our future estimates.

• Second, some effects of the proposal have not yet been fully captured in our analysis. In particular, we have not yet estimated the administrative costs to the federal government of implementing the specified policies, nor have we accounted for all of the proposal’s likely effects on spending for other federal
programs. We expect to include those effects in the near future, but we also expect that they will not have a sizable impact on our analysis.

• Third, the budgetary information shown in the attached table reflects many of the major cash flows that would affect the federal budget as a result of implementing the specified policies, and it provides our preliminary assessment of the proposal’s net effects on the federal budget deficit (subject to the caveats listed above). Some additional cash flows would appear in the budget—either as outlays and offsetting receipts or outlays and revenues—but would net to zero and thus would not affect the deficit. CBO and the JCT staff have not yet estimated all of those cash flows but expect to do so in the near
future.2 Those additional cash flows would include the premiums collected by the public plan and its outlays as well as risk-adjustment transfers from plans with relatively healthy enrollees to plans with relatively unhealthy enrollees. …”

***

http://michellemalkin.com/2009/07/14/document-drop-cbo-scores-the-health-care-takeover/

Warning: More Obamacare/MSM theater on the way

By Michelle Malkin 

shovell_ready_socialized_medicine

Photoshop credit: The People’s Cube

“…The Democrats’ government health care takeover plans are flailing. What to do? What to do? Enlist every willing MSM lackey, of course.

We had the All Barack Channel special. The Obamacare Theater production. And now a trifecta of dinosaur broadcast media interviews. Noel Sheppard reports: “All Three Nets To Interview Obama About Healthcare Wednesday.”

…”

http://michellemalkin.com/2009/07/15/warning-more-obamacaremsm-theater-on-the-way/

Tax-maniacs backing off health benefits?

By Michelle Malkin  

“…Looks like there’s trouble in Beltway taxaholics’ paradise. There are multiple reports that Democrats are backing off a key proposal to tax health benefits to pay for the trillion-dollar government takeover of health care.

WSJ: “A Senate Democrat involved in negotiations on legislation to overhaul the health-care system said senators may be souring on a plan to tax some employer-provided health benefits. Sen. Kent Conrad, D-N.D., said that public polls conducted over the July 4 congressional recess and reviewed by senators are causing lawmakers to have second thoughts about limiting the tax exclusion for employer health plans.”

Bloomberg: Senators May Drop Tax Plan for Worker Health Benefits

AP: “Tax on health benefits fading?”

But hey, don’t worry. They’ll find something else to tax. Just give ‘em time.

*** …”

http://michellemalkin.com/2009/07/07/tax-maniacs-backing-off-health-benefits/

 

Get ready for health care tax-apalooza

By Michelle Malkin  


 
Photoshop: Reader Rachael in Ky

“…The Democrats are preparing for their Big Reveal on how to pay for their trillion-dollar government takeover of health care.

Gird your loins and say goodbye to your wallets:

By the end of this week, House Democrats may have answered the biggest question looming in the healthcare debate – how they plan to pay for their overhaul.

Leadership aides say they will introduce a bill by Thursday or Friday, in preparation for votes in committee next week. And that bill, they say, will include a way to pay for the bill…

…Leadership aides stress that no final decision has been made on how to pay the tab. The Democrats on Rangel’s committee will hold a marathon meeting all day Tuesday where healthcare and the “pay-for,” as it’s called, are sure to come up.

A large portion is expected to come from reductions in Medicare and Medicaid. But that won’t pay for the full overhaul. As for raising money, ideas have included a national sales tax, taxing soda and a “surtax” on people making more than $250,000. …”

http://michellemalkin.com/2009/07/07/get-ready-for-health-care-tax-apalooza/

Not a surprise: SEIU & Wal-Mart unite behind Obamacare

By Michelle Malkin  

“… Wal-Mart announced today that it was backing Obama’s government health care plan. The discount retail giant was joined by the Service Employees International Union and the left-wing Center for American Progress. CQ reports:

Walmart, the nation’s largest private employer, announced Tuesday that it would support a mandate on businesses to help expand health care coverage, an about-face from other business interests that have strongly opposed any such requirement.

But this is not a sudden “about-face.” Wal-Mart and the SEIU, still bitter enemies on most other policy and employment matters, first joined hands on health care two years ago. The unholy alliance was forged out of mutual desperation and political expediency.

More from Forbes, USAToday. And AP:

Wal-Mart, the nation’s largest private employer, announced its position in a letter to congressional and administration officials Tuesday. It was joined by a major labor union that sometimes has criticized Wal-Mart as stingy with employee benefits.

“We are for an employer mandate which is fair and broad in its coverage,” the letter said. “Any alternative to an employer mandate should not create barriers to hiring entry-level employees.”

That was a reference to some proposals in Congress to have employers pay the Medicaid costs of new hires. Critics say that would discourage the hiring of low-income people.

The letter was also signed by Andrew L. Stern, president of the Service Employees International Union, which has more than a million members and counts more U.S. health workers than any other union. Also signing it was John Podesta, who headed Obama’s transition team and is president of the Center for American Progress.

Wal-Mart wants the union thugs off its back. Stern wants more power and publicity.

Take this marriage for what it’s worth.

*** …”

http://michellemalkin.com/2009/06/30/not-a-surprise-seiu-wal-mart-unite-behind-obamacare/

The House Health Care Bill: A Blueprint for Federal Control

 

by Robert E. Moffit, Ph.D.

“…Like the U.S. Senate Health, Education, Labor and Pensions Committee bill,[1] the House bill would create a new public plan to compete with private health insurance in a national health insurance exchange; impose mandates on individuals and businesses to buy health insurance coverage or be subject to tax penalties; and allow the federal government to control, standardize, and regulate health insurance, defining what is and is not “acceptable coverage” for American citizens.The “Public” Plan

The bill would require the secretary of health and human services (HHS) to establish a “public health insurance option” to compete against private health plans on a “level playing field” in a national health insurance exchange. It would also expand eligibility for the existing Medicaid program up the income scale to 133 percent of the federal poverty level.

The public plan’s payment to providers would be based on Medicare payment rates plus 5 percent. The Lewin Group estimates that, by using the Medicare payment rates and opening up the plan to all employees, as the bill would provide, the House bill could result in up to 113.5 million people losing private coverage.[2] Lewin estimates that cost shifting to private plans from the public plan would amount to an additional $460 per person for those remaining in private insurance,[3] while physician and hospital revenues, under such a scenario, would decline significantly.

Contrary to the House sponsors’ claims, it is hard to imagine a “level playing field” where Congress creates a special government plan to compete against private health plans while also creating the rules for its competitors.

While the House bill would set up an account within the Treasury for the deposit of startup funds and premiums, the bill would also require taxpayers to retain the risks and depend on congressional restraint in the appropriation of additional taxpayer funds for the public plan. In light of recent congressional bailouts of automakers and financial institutions, belief in such restraint would amount to a triumph of imagination over experience. …”

“…Promises, Promises

The President has said repeatedly that if Americans like their private health insurance coverage, they would be able to keep it. But in fact, the incentives built into the House bill–a combination of mandates and the provision of a public plan–would guarantee that millions of Americans would lose their private coverage, regardless of their personal preferences.

In the Senate, the leading bill would add $1 trillion to the deficit over 10 years, while pushing millions of Americans out of their employer-based coverage. While the President insists that health care reform should be “deficit neutral,” the cost of the House bill–both quantifiable and not–is yet unknown. …”

http://www.heritage.org/research/healthcare/wm2515.cfm 

 

Donald S. McAlvany

“…Donald S. McAlvany is an American Christian conservative political and economics commentator, podcaster, and newsletter author.

McAlvany attended the University of Texas. In 1972, McAlvany founded International Collectors Associates (ICA), headquartered in Durango, Colorado. The firm is described as a “securities, precious metals brokerage, insurance and consultation firm serving clients in over 20 countries.” In 1976 McAlvany began publishing the McAlvany Intelligence Advisor, a monthly newsletter that analyzes economic, political, and financial issues, globally. in recent years he has also produced a monthly podcast on economic and “hard money” investing.[1]

He has been a lecturer at Christian, political, monetary and investment conferences “in Western Europe, Africa, Australia, the Middle East, Hong Kong, Singapore, as well as all over the North American continent and Latin America.”

He serves on the board of The Conservative Caucus, is a member of the Council for National Policy[2], is chairman of the Council on Southern Africa, was “a founder of the Industry Council on Tangible Assets (ICTA), and one of the founding directors of the fellowship of Christian Financial Advisors.”[3]

He was formerly the editor of The African Intelligence Digest.[4] …”

“…McAlvany gained some notoriety for his prediction of a possible Y2K catastrophe, before 2000. In 1999, McAlvany self-published the book Y2K Tidal Wave: Year 2000 Economic Survival[5]. Like economists Dr. Gary North, Ed Yourdon[6] and Ed Yardeni[7], and many others, McAlvany suggested that a Y2K date-rollover failure of the global Information Technology (IT) infrastructure might precipitate severe disruption and perhaps even an economic collapse. A concerted last-minute effort by IT professionals prevented this catastrophe, but McAlvany later described Y2K as “a close one.” …”

http://en.wikipedia.org/wiki/Don_McAlvany

ICA, a McAlvany Financial Company

http://mcalvany.com/

America’s Financial Future (Part 1)

America’s Financial Future (Part 2)

U.S. Economy and Financial System Bankrupt–What’s next?

U.S. Economy and Financial System BankruptPt.2–What’s next?

 

U.S.Real Estate:How it affects your financial future

Economic implications of the real estate bubble

http://www.youtube.com/watch?v=11sG3zgE9Hk

 

The Ultimate American Dollar Collapse

China: What every investor should know

Soaring U.S. Global Inflation

 http://www.youtube.com/watch?v=2RaIRxBpTt0 

 

Gold: The Ultimate investment for capital preservation.

McAlvany DVD 2009 “Deflation or Inflation? What’s Next?”

McAlvany Seminar 2008:Protect Your Assets Now, Pt.1

McAlvany Seminar 2008:Protect Your Assets Now, Pt.2

Wall Street’s Schemes Part I: Mcalvany 2008

Wall Street’s Schemes Part II: Mcalvany 2008

Transitions Ahead Part I: Mcalvany 2008

Transitions Ahead Part II: Mcalvany 2008

Middle East Turmoil Part I: Mcalvany 2008

Middle East Turmoil Part II: Mcalvany 2008

US Dollar Cave-In Part I: Mcalvany 2008

US Dollar Cave-In Part II: Mcalvany 2008

An Inflationary Recession Part I: Mcalvany 2008

An Inflationary Recession Part II: Mcalvany 2008

McAlvany DVD 2009 “Deflation or Inflation? What’s Next?”

McAlvany DVD 2009 “How bad is it?”

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