Obama's budget - another example of partisan ridiculousness

Posted by $ blarman 11 years ago to Politics
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This is a really in-depth article about all the BS Obama is proposing. What should be noted is that even when Democrats controlled Congress they couldn't bring themselves to vote for President Obama's budgets.

Here's one part I thought was particularly telling, however:

"Compared to the Congressional Budget Office’s projections for the 2016-2025 period, the president’s budget assumes:

Nearly 8 percent higher annual growth in real GDP
A 6 percent lower average rate of unemployment
Lower average inflation by 6 percent
Lower average interest rates by between 1.5 and 3 percent"

That's really all you need to look at right there.
- Annual growth of the GDP has been anemic at best because of the high tax and regulatory burden. And 8% growth isn't sustainable by itself.
- The "official" employment rate is already at 6%, so I'm going to assume that they are talking about the U6 number which is closer to 14%. However, those people aren't going to find jobs in the current high-tax, high-regulation governance system!
- In order for this one to move, you have to stop borrowing and printing money! Like Obama or the Fed are going to do that.
- Interest rates are already so low that investors are having a hard time making money!


All Comments

  • Posted by $ 11 years ago in reply to this comment.
    I have no concern about Congress approving it as is. Not even the Democrats voted for Obama's budgets when they controlled the House! Of the two budgets he sent, he got a total of ONE vote out of the combined Senate and House!

    No, I'm just concerned about the deficit the Republicans are going to concede. Even this past budget was a $600 billion deficit whopper - bigger by far than ANY under GW Bush despite the Iraq war! And while I'd love to see a balanced budget come out of the Republican Congress, I don't have any real expectation that is going to happen. :(
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  • Posted by Ben_C 11 years ago
    Thank you for the post. Yes, this is all unsustainable and fits nicely with Cloward - Piven. Keynesian economics at its best. If Congress votes for this we will know all of their intentions and it is ugly. Tytler was right. We will collapse from loose fiscal policy. Buy more ammo.
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