In Four Years Barack Obama Bankrupts American People With $5 Trillion In Budget Deficits and Increased Debt–Fiscal Year 2013 Budget Dead On Arrival–Videos

Posted on February 11, 2012. Filed under: Banking, Blogroll, Books, Business, College, Communications, Economics, Education, Employment, Energy, Federal Government, Federal Government Budget, Fiscal Policy, Food, Foreign Policy, government, government spending, Health Care, Immigration, Inflation, Investments, Language, Law, liberty, Life, Links, Macroeconomics, Monetary Policy, People, Philosophy, Politics, Public Sector, Rants, Raves, Talk Radio, Tax Policy, Taxes, Technology, Unemployment, Unions, Video, War, Wealth, Wisdom | Tags: , , , , , , , , , , |

http://www.federalbudget.com

BUDGET OF THE UNITED STATES GOVERNMENT

Issued by the Office of Management and Budget (OMB), the Budget of the United States Government is a collection of documents that contains the budget message of the President, information about the President’s budget proposals for a given fiscal year, and other budgetary publications that have been issued throughout the fiscal year. Other related and supporting budget publications are included, which may vary from year to year. About the Budget of the United States Government

GPO has signed and certified the PDF files to assure users that the online documents are official and authentic. The digitally signed PDF files should be viewed using Adobe Acrobat or Reader version 7.0 or higher. Download the most recent version of Adobe Acrobat Reader.

U.S Debt Clock Real Time

http://www.usdebtclock.org/

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

Monday Hangover: Obama’s Budget ‘Fictitious Dream’

Top 15 Holders of US Public DEBT – Whom does the US owe?

National Debt- How Much Is A Billion Dollars? Dave Walker

What Does A Trillion Dollars Look Like?

David Walker – America at a Crossroads

Ron Paul Interview On The Kudlow Report (1-30-12)

Ron Paul Highlights at the Thanksgiving Family Forum (Family Leader Debate)

They tell Us that Ron Paul is a Lunatic?

 
Here is what we are told that a lunatic wants:
Obeying The Constitution- keeping the oath the every President swears
Sound money
Freedom, liberty, and justice for All
Peace
No Wars Unless We are Attacked, and then only when Congress declares war.
Protecting Our Own Borders
End the Income Tax
No Entangling Alliances
Minding our own business
Keeping our money at home to take care of our own needs.
Decrease our militarism in other countries. Stop conquest and nation building.
HERE IS WHAT ALL THE OTHER “SANE” CANDIDATES WANT:
United Nations resolutions, Agenda 21, NAFTA, World Trade Organization.
Indefinite detention of American citizens; without a charge, trial, or a lawyer.
Federal Reserve printing unlimited fiat paper money
Debt
Government control over everything
Government regulation of every aspect of life.
CONTINUOUS UNDECLARED WARS
Protecting Borders in other countries, but not our own.
HIGH Taxes of all types.
Entangling Alliances, Global Governance
Policing the world
Borrowing money from big dictatorships, and then giving it away to small dictatorships.
Build a military base and colony on the moon, and make the moon the 51st state.

Ron Paul . I will cut $1 Trillion first year as President

Ron Paul Plan To Restore America Press Conference

Ron Paul Ad – Secure

Ron Paul Ad – Plan

Ron Paul – “The one who can beat Obama”

GPO and OMB to Distribute President Obama’s Budget for Fiscal Year 2013

Friday, February 10, 2012

Press release from the issuing company

WHAT:
The U.S. Government Printing Office (GPO) and the Office of Management and Budget (OMB) are releasing President Barack Obama’s Budget for the U.S. Government, FY 2013. Printed copies are available through GPO’s retail and online bookstore. The Budget is also available electronically on GPO’s Federal Digital System (FDsys) www.fdsys.gov.

WHEN:
Monday, February 13, 2012 11:15 a.m. EST

WHERE:
U.S. Government Printing Office 710 North Capitol Street, NW (GPO Bookstore Entrance) Washington, D.C. 20401 (North Capitol and G Streets)

COST:
Hard copies of the Budget may be purchased through GPO’s retail and online bookstore. There will be no complimentary hard copies for the media.

American Express, Visa, MC, Discover are accepted. Please make checks payable to Superintendent of Documents. Orders may also be placed online: http://bookstore.gpo.gov/collections/budget.jsp

Budget of the U.S. Government $39
Budget Appendix $76
Analytical Perspectives $53
Historical Tables $50
CD-ROM $27

ONLINE:
The authentic online version will be available through a direct link on GPO’s Federal Digital System (FDsys) after 11:15 a.m. EST. www.fdsys.gov

http://whattheythink.com/news/56184-gpo-omb-distribute-president-obamas-budget-fiscal-year-2013/

Obama’s 2013 budget proposal launches election-year debate

By Lori Montgomery,

“…President Obama will send Congress a 2013 spending plan that would raise taxes on the rich and pump nearly $500 billion into new transportation projects over the next decade, launching an election-year debate over the budget that promises starkly different visions for managing government debt and the sluggish economy.As they prepare to face voters in November, neither the president nor congressional Republicans are expected to roll out many new or potentially painful prescriptions for slowing the rise of the $15 trillion national debt. After failing repeatedly last year to forge a bipartisan consensus, few in either party see much point in trying again now.

1638

Instead, Obama will on Monday reprise recommendations he unveiled last fall that seek to reduce borrowing by more than $3 trillion over the next decade while spending more in the short term to bring down persistently high unemployment.

The president’s blueprint calls for reductions in spending on federal health programs and the military, a small raise for federal workers and more than $1.5 trillion in new taxes on corporations, hedge-fund managers and the wealthy, in part through the expiration of the George W. Bush-era tax cuts on annual incomes of more than $250,000.

Obama also has called for changes to the tax code that would require households earning more than $1 million a year to pay at least 30 percent of their income in federal taxes, but senior administration officials said Friday that the blueprint will provide no additional details on how such a levy would be structured.

To achieve his debt-reduction goal, Obama would rely on an accounting maneuver that permits him to claim about $850 billion in savings over the next decade by ending the wars in Iraq and Afghanistan, a move Republicans have rejected as a gimmick. Obama would use a portion of those savings to finance new road and rail projects, rather than dedicating the full sum to lower deficits.

Obama’s budget also calls for new investments in education, manufacturing and federal research and development, and it would devote an additional $350 billion to boosting economic growth. That sum includes extending a temporary payroll tax holiday and emergency unemployment benefits through the end of the year. Both are scheduled to expire at the end of this month and are currently the focus of intense debate in Congress.

The president’s plan would push this year’s deficit above current projections, with the budget gap growing to $1.33 trillion — slightly higher than last year’s $1.3 trillion deficit and $200 billion more than congressional budget analysts recently projected for the fiscal year that ends in September.

The deficit would fall to $900 billion in 2013, and government borrowing would continue to slow through 2022, leaving the debt elevated by historic standards but no longer growing faster than the overall economy. …”

http://www.washingtonpost.com/business/economy/obamas-2013-budget-proposal-looks-to-tame-national-debt/2012/02/10/gIQALfaC5Q_story.html?tid=pm_business_pop

2013 United States federal budget

2013 Budget of the United States federal government
‹ 2012 ·  · 2014 ›
Submitted February 13, 2012 (expected)[1]
Submitted by Barack Obama
Submitted to 112th Congress
Total revenue $2.964 trillion (projected)[2]
Total expenditures $3.693 trillion (projected)[2]

“…The United States federal budget request for government operations in fiscal year 2013 (October 2012–September 2013) is expected to be submitted by President Barack Obama in February 2012, according to the budget process. The actual appropriations for fiscal year 2013 must be authorized by the full Congress before the budget can take effect. Under current law, the Budget Control Act of 2011 mandates caps on discretionary spending levels. In addition, several temporary tax cuts are currently scheduled to expire at the beginning of the 2013 calendar year, including the Bush tax cuts on income and capital gains taxes, and cuts to the estate tax, due to the expiration of provisions of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010.

History

 Implications of the Budget Control Act

The Budget Control Act of 2011 was passed in August 2011 as a resolution to the debt-ceiling crisis. The fiscal year (FY) 2013 budget is the first to be affected by the second of two rounds of budget cuts specified in the act. (The first round of cuts has already been applied to the ten years beginning in FY2012.) For this second round of cuts, the Budget Control Act had formed the United States Congress Joint Select Committee on Deficit Reduction, sometimes referred to as the “supercommittee”, to identify at least $1.2 trillion in cuts over the ten years beginning with FY2013, and specified automatic across-the-board cuts if no such budget reduction legislation was passed by Congress.[3]

On November 21, 2011, the Joint Select Committee on Deficit Reduction announced that it did not reach a deal on the budget-cutting legislation, raising the possibility that the automatic cuts would be activated if the full Congress could not enact its own deficit reduction legislation by December 23, 2011. The supercommittee’s lack of an agreement was attributed to the refusal of Republicans to consider any tax increases, combined with Democratic insistence on including these revenue increases such as the expiration of the Bush tax cuts, which under current law expire at the end of 2012.[4]

The automatic cuts of $1.2 trillion over ten years would be split equally between security and non-security programs, and include $500 billion in cuts to the Department of Defense. The FY2013 defense budget would be reduced 11%, from $525 billion to $472 billion, after already having been cut from $571 billion in the first installment of cuts in the Budget Control Act. Secretary of Defense Leon Panetta initially gave the total cut figure as 23%.[5] The planned cuts include reductions in troop levels, a modest limit in pay raises for soldiers starting in 2015, an increase in health fees for veterans, delays in the construction of new naval ships and in the purchasing of new fighter aircraft such as the F-35, and the possibility of a round of base closings within the United States, but cuts to special operations, cyberwarfare, and intellegence programs were avoided.[6] Initial reports had also suggested that the number of carrier battle groups might be reduced from 11 to 10,[5] although it was later determined that the number of aircraft carriers would not in fact be cut.[7] Some Republicans in Congress advocated reversing the cuts to the military, citing the effect on national security, and Secretary Panetta has opposed the cuts, calling them “devastating” and raising “substantial risk of not being able to meet our defense needs.” President Obama has promised to veto any legislation seeking to avoid the cuts, and House Speaker John Boehner also indicated his commitment to following the cuts in the Budget Control Act.[4][8]

The Budget Control Act also specifies automatic cuts of 7.8% to domestic programs and 2% to Medicare, while Medicaid and Social Security will be unaffected. These entitlement programs were protected from cuts in return for the absence of new revenues in the Budget Control Act.[9]

The automatic cuts to domestic programs would include cuts of up to 11% to science research and development agencies such as the National Institutes of Health, NASA, and the U. S. National Laboratories run by the Department of Energy. It is anticipated that this could cause federal grant acceptance levels to fall into the single digits, a consequence which has been called catastrophic for academic institutions by Michael Lubell of the American Physical Society. The cuts could also endanger politically controversial research such as climate change research programs in NASA and NOAA.[10] Due to the role of scientific research in economic growth and job creation, and given international competition in this field, the cuts have been opposed by professional and academic organizations, and federal support of research and development has been called “an area of U.S. investment too critical to be cut” by the American Association for the Advancement of Science.[11][12]

 Total revenues and spending

As of September 2011, the Obama administration projected that the FY2013 budget would contain $2.964 trillion in receipts and $3.693 trillion in outlays.[2]

http://en.wikipedia.org/wiki/2013_United_States_federal_budget

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Fred Thompson On Borrowing and Spending–Yes We Can!

Posted on January 3, 2009. Filed under: Blogroll, Economics, Employment, Investments, Law, Links, Politics, Quotations, Raves, Regulations, Taxes, Video | Tags: , , , , , , , , , , , , , , , |

Trying to fix problems caused by excess consumption with more spending is like telling a fat guy that the way to lose weight is to eat more donuts.

~Fred Thompson

 

Fred Thompson on the Economy

 

Great video!

Ask not what your country can spend on you, ask what you can spend for your country. Is that what made American a great country?

~Fred Thompson

 

Background Articles and Videos

 

Postponing Reality

By Thomas Sowell

 

“…While Detroit’s Big Three are laying off thousands of workers, Toyota is hiring thousands of workers right here in America, where a substantial share of all our Toyotas are manufactured.

Will this save Detroit or Michigan? No.

Detroit and Michigan have followed classic liberal policies of treating businesses as prey, rather than as assets. They have helped kill the goose that lays the golden eggs. So have the unions. So have managements that have gone along to get along.

Toyota, Honda and other foreign automakers are not heading for Detroit, even though there are lots of experienced automobile workers there. They are avoiding the rust belts and the policies that have made those places rust belts.

A bailout of Detroit’s Big Three would be only the latest in the postponements of reality. As for automobile dealers, they can probably sell Toyotas just as easily as they sold Chevvies. And Toyotas will require just as many tires per car, as well as other parts from automobile parts suppliers.”

http://www.realclearpolitics.com/articles/2008/12/postponing_reality.html

 

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Recession–Recession–Recession–Scaring People–Have A Hot Dog!

 

 

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