Thought i would make a thread for all budget discussion since we keep on bringing it up...

Great article from MSNBC that points out the bill that passed today, only cuts agencies "authority" to spend $40 billion so the actually reduction in spending is $20-25 billion. Keep in mind the total budget is $3.8 TRILLION and i read we are going in debt $4 billion per day. So the cost cutting measure is what we go in debt every 5-6 days.
oh and i love the title! House oks bill that SLASHES BILLIONS!!!!!!


House OKs spending bill that slashes billions
Debt dilemma is way uglier than in the 90s


House passes compromise budget bill 260-167From NBC's Shawna Thomas and Carrie Dann
The House has passed a compromise budget bill to fund the government for the rest of the fiscal year, with 59 Republicans breaking with House Speaker John Boehner to vote against the measure.

The vote was 260-167, with 81 Democrats voting for the deal reached by negotiators late last Friday night.

The bill – which was originally advertised as cutting $38 billion in federal spending – has been criticized by some conservative Republicans who said that the cuts were inadequate to address the government’s ballooning debt.

The Congressional Budget Office said Thursday that, although it does reduce government agencies’ authority to spend almost $40 billion, CBO estimates that the total savings in the bill are closer to about $20-25 billion for this fiscal year.

The 59 GOP defections were comparable to the number of Republicans who bucked their leaders when the last stopgap “continuing resolution” passed the House on March 15. Fifty-four Republicans opposed that measure.

But the Republican opposition signals that Boehner did not have enough GOP votes to pass the budget deal without Democratic support. (There are currently 241 Republicans in the house; it takes 217 'yes' votes to pass a bill.)

Speaking on the House floor before the vote, Boehner acknowledged that the compromise legislation, which he negotiated for with President Barack Obama and Senate Majority Leader Harry Reid, did not contain the depth of cuts he would have wanted.

“Is it perfect? No,” he said. “I'd be the first one to admit that it's flawed.”

“Well, welcome to divided government,” he added.

The bill now goes to the Senate, which is expected to pass it later today.

Doesn't really matter if the President vetoes it, now does it?

I would put a bill that has 300 Billion in tax slashes and gore the sacred cows.

Let him veto everything.

Come election time run a credible candidate and use his vetoes against him.

America would do it too!

They do NOT want a 2nd term of the Kenyan King.

Victor Davis Hanson, National Review Online, has a fine paragraph to open his analysis of this.

"The president gave the sort of scare speech he not long ago warned against, and blasted the income-tax rates he not long ago agreed were necessary -- in a context in which he has just presented a budget with a $1.6 trillion deficit of the sort he now says is unsustainable, and has warned about recklessly voting against raising the debt ceiling in a fashion that he himself had once done, in a larger landscape in which he had once damned attacking Middle East countries in optional wars, Guantanamo, renditions, tribunals, preventative detention, intercepts, wiretaps, Predators, and leaving troops in Iraq, and then embraced or expanded all that and more (this list is infinite and includes everything from drilling to campaign financing to earmarks)."

Whatever he says, he'll change it on a dime. "These weird about-faces raise interesting questions that transcend the current politics of the deficit:

a) Has Obama in his past careers never been called to account and so reached a point where simply being Obama means that we are not supposed to apply standards of accuracy, memory, and consistency to him in the way we do to all others?

b) Or does an absent-minded Obama carelessly make up things up ad hoc as he goes along, forgetting what he said earlier, but secure that his hope-and-change delivery of the moment will so mesmerize the audience that no one will remember or care if at times he ends up saying exactly the opposite of what he had said earlier?

"c) Or is he so blatantly partisan a politician that he has no principles at all and knowingly says things that are aimed at appealing to 51 percent of the public at any given moment, and therefore will always change with public opinion?

d) Or is he so cynical that he understands campaign rhetoric has nothing to do with actual governance, and so he is allowed to say something that he knows in advance that he is not bound to follow?

e) Or is he so bored with the trying job that he feels no responsibility to offer reliable, consistent governance, and so rashly throws things out and then hastens back to the more enjoyable PR aspects of the office?"



This Victor Davis Hanson at National Review Online desperately trying to explain this, 'cause it is puerile. It is infantile, it is incoherent, it's immature, it's childish. It's certainly not presidential.


No wonder Biden crashed out during the speech.

I wouldn't use a scalpel. Id use a chainsaw.

President Obama laid out a plan this week that through targeted precision cuts in Federal spending and tax increases will put our great nation on a 10 year path of working towards putting less debt on the credit card each year than we do now.

Yes, our best days lie ahead of us!

HD, you have to change your SN to teedubba now!

We went around in circles and landed back in the same place but now we are dizzier..

wow, great article. wtf are we supposed to do?

Nothing.


We globalists control everything!

NEW YORK (MarketWatch) — Standard & Poor’s cut its ratings outlook on the U.S. to negative from stable on Monday, lighting a fire under Washington’s deficit-reduction debate and sending stock markets sharply lower.

The rating agency effectively gave Washington a two-year deadline to enact meaningful change, just days after House Budget Committee Chairman Paul Ryan and President Barack Obama each outlined their plans for slashing debt. S&P nonetheless kept its highest rating, AAA, on the U.S.
Ratings selloff isn’t bear market start

The sharp selloff in stocks after Standard & Poor's cut its outlook on U.S. ratings doesn't signal the start of a bear market, says Max Bublitz, chief strategist at SCM Advisors. If stocks were really near a top, markets would have shrugged off the news. MarketWatch's Laura Mandaro reports.

Relative to triple-A-rated peers, the U.S. has very large budget deficits and rising government indebtedness, and the path to addressing those issues is unclear, S&P analysts said.

They noted an increasing gap between a lack of action by U.S. fiscal policy makers and steps taken by its AAA-rated peers, even after the Republicans and Obama administration released their 2012 budget proposals.

“The fiscal profile of the U.S. is increasingly diverging from that of its AAA peers,” said David Beers, an S&P analyst, on a conference call. “This was the time to update our opinion.”

In other words...the Kenyan King doesn't know what he's doing...his advisors are idiots...we're taking the keys away because the Not Ready For Prime Time stools haven't figured out that you have to have a plan. This whole wingin' it might work when you're trying to topple a Labian thug but it doesn't when you have to do the Big Boy thinking.

THIS IS WHY EXPERIENCE MATTERS!

THIS IS WHAT I WAS TELLING THE LEFTY'S HERE ABOUT...YOU CAN'T FAKE IT!


PALIN WAS RIGHT!!!

thanks for posting that HD, i read it on my fone but havent had time to post it.

DR, i dont know if palin was right, but lefty definitely needs to know WAZZUP!

"We've all heard his dramatic speeches before devoted followers.

And there is much to like and admire about our opponent.

But listening to him speak, it's easy to forget that this is a man who has authored two memoirs but not a single major law or reform — not even in the state Senate.

This is a man who can give an entire speech about the wars America is fighting and never use the word "victory" except when he's talking about his own campaign. But when the cloud of rhetoric has passed ... when the roar of the crowd fades away ... when the stadium lights go out, and those Styrofoam Greek columns are hauled back to some studio lot — what exactly is our opponent's plan? What does he actually seek to accomplish, after he's done turning back the waters and healing the planet? The answer is to make government bigger ... take more of your money ... give you more orders from Washington ... and to reduce the strength of America in a dangerous world. America needs more energy ... our opponent is against producing it."

What he needs to do to solve this is plan another speech in front of children or zombie college students. They really pump his ego. I heard he is done speaking to adults.

i heard the NSA is designing a teleprompter implant for his eyes so his puppetmaster can type whatever he wants him to say in the debates!

Federal Borrowing on Pace to Hit Debt Limit in Less Than Week
Wednesday, April 20, 2011
By Terence P. Jeffrey

Treasury Secretary Timothy Geithner meets with President Obama at the White House. (AP Photo)
(CNSNews.com) - Federal borrowing is on pace to hit the legal limit on the national debt in less than a week.
As set in a law passed by Congress and signed by President Barack Obama on Feb. 12, 2010, the legal limit on the national debt is $14.2940 trillion. As of the close of business Tuesday, according to the Daily Treasury Statement released at 4:00 pm today, the portion of the national debt subject to this legal limit was $14.268365 trillion. (The total national debt, including the portion exempted from the legal limit, was $14.3205 trillion.)
This left the U.S. Treasury with the authority to borrow only an additional $25.635 billion before it hits the statutory debt limit.
On April 4, Treasury Secretary Timothy Geithner sent a letter to Senate Majority Leader Harry Reid (D.-Nev.) in order to warn Congress that the Treasury was approaching the legal debt limit. In an appendix to this letter, Geithner pointed to the rapid pace at which new debt was accumulating.
“On average,” Geithner wrote, “the public debt of the United States increases by approximately $125 billion per month (although there are significant variations from month to month).”
In a 31-day month, $125 billion in new debt works out to an average of $4.03 billion in new debt per day. At that pace, the $25.635 billion in legal borrowing authority the Treasury had left at the close of business on Tuesday would be exhausted in less than seven days.

Geithner’s letter did not spell out the time period he used to determine that the debt increases at approximately $125 billion per month. In fact, according to the official debt figures published by the Treasury itself, the debt has been increasing at a somewhat faster pace than $125 billion per month during the Obama presidency.

On Jan. 20, 2009, the day Obama was inaugurated, the portion of the nation debt subject to the legal limit (a small portion of the debt is exempted from the limit) was $10.568142 trillion. By April 19, 2011, the portion of the national debt subject to the limit had increased to 14.268365 trillion. That means that during the first 821 days of Obama’s presidency the debt increased by $3.700223 trillion—or $4.5 billion per day.

The actual average monthly increase in the debt during Obama’s presidency has been $139.5 billion.
In fact, in the past six days, the debt has increased at a far faster pace than either the $4.03 billion per day average suggested by Secretary Geithner or the $4.5 billion per day that the Treasury has increased the debt since Obama became president. At the close of business last Wednesday, the debt subject to the limit was $ 14.211984 trillion--or $56.381 less than the debt recorded at the close of business Tuesday.

In other words, in the six days of Thursday, Friday, Saturday, Sunday, Monday, Tuesday, the national debt increased $56.381 billion---or almost $9.4 billion per day.

At that pace, the Treasury would exhaust its $25.635 in remaining borrowing authority in less than 3 days.
In his April 4 letter to Sen. Reid, Geithner said the Treasury was then projecting that it would hit the debt limit by May 16.

“The Treasury Department now projects that the debt limit will be reached no later than May 16, 2011,” Geithner wrote. “This is a projection based on the expected level of tax receipts, the timing of our commitments and obligations over the next several weeks, and our judgment concerning the level of cash balances we need to operate.”

Geithner also warned that this projection might change—but not to the advantage of Congress.
“Although these projections could change,” Geithner wrote, “we do not believe that they are likely to change in a way that would give Congress more time in which to act.”

When Treasury is about to reach the debt limit, the Treasury secretary can take certain extraordinary steps to stretch the Treasury’s borrow-and-spending authority. According to Geithner, however, these extraordinary measures would only give the government another $165 billion in borrowing-and-spending room.

That extra room is about what the government would typically borrow in 40 days—using Geithner’s conservative estimate that it borrows an average of $125 billion per month.

http://www.cnsnews.com/news/article/federal-borrowing-pace-hit-debt-limit-le 



Turbo Tax Timmay! I bet he's one of the ones that will help "fix" it. This walking douchebag couldn't even plug in actual numbers and write a check for what he owed yet he's running the Treasury? Ok...I'll bite it...he's here to fix things. Nope. This tard gives TRILLIONS away and now wants to scold Congress and tell them that the government needs MORE money? Have the guy do his actual job and audit the Federal Reserve! Slash spending and kill , yes KILL the "sacred cows". There's no "fix" with this kind of leadership unless you're looking for an angle at the trough. If you're at the trough then you're a problem!

WAnt to save a paltry 25 mil?

Who doesn't, right?

It's chump change nowadays...blink and the debt clock can double it...I know what you're thinking...want to radicalize it?

Start here...

http://www.washingtontimes.com/news/2011/apr/19/libya-rebels-will-receive-25-million-from-us/ 


If the Kenyan King were really serious he'd be bringing in the Big Guns and fire anyone in his staff that had any ties to the Treasury. He won't. Remember...



He said it. The masses heard it. The recording is there for you to listen to. His legacy is as such. He kept his word. The masses are asses.


It's all about redistribution of wealth. He TOLD YOU! He believes its some reparation experiment in his own words!



As a "senator"



As President...yea!!!! We ALL get trophies!

Yes...fixing the debt is something that HAS (or HAD if you want to get all doomsday) to be taken seriously but when you have a fool blowing through this nation's checkbook because he still has checks knowing full well that we can't cover them well...my brothers and sisters I fully believe that THAT is an act of Treason.

Yes, TREASON.

"Until a few weeks ago, Gadhafi was the CIA's ally in fighting this group. Now, CIA teams on the ground have to figure out for themselves how much influence the group may have in Libya's rebellion.

"There's no question that a call has gone out from al-Qaida and a number of other terrorist organizations that people should come report in in Libya and join the fight," says Sen. Dianne Feinstein (D-CA), chairwoman of the Senate Intelligence Committee.

Feinstein says it has been impossible to determine exactly who is answering that call.

"No one knows. I can't tell you how many Islamic fundamentalists who want a jihad are in Libya today. I cannot tell you how many of them are on the frontlines," she says. "I don't know. We are working from a blind spot."

That blind spot is the reason Feinstein and other lawmakers say they don't want to arm the Libyan rebels. President Obama has said he is not ruling out that possibility — at least not until the CIA has come back with some answers."

http://www.npr.org/2011/04/06/135161637/do-libyan-rebels-have-al-qaida-links?ft=1&f=1001 


Aid and comfort to America's enemies.


LET'S FIX THIS?


Not with the current crop of Keystone Kops running DC.

DRAIN THE SWAMP. THROW THE BABY OUT WITH THE BATH WATER.