Showing posts with label CBO. Show all posts
Showing posts with label CBO. Show all posts

Friday, June 29, 2012

How Will Obama Pay Back The $5 Trillion In Debt He Has Added To The U.S. Deficit


Barack Obama

Being President of the United States of America comes with many responsibilities, such as setting the political agenda for the country and determining aspects of the national budget. As has been widely reported, U.S. President Barack Obama added $5 trillion dollars to America's national deficit, with wild spending that has not panned out or fixed the economic crisis.

The question remains, how will President Obama repay the $5 trillion dollars. His proposals for doing so, have been met with sharp criticism by the Congressional Budget Office (CBO) and economists alike, stating his plans do not add up and will not reduce the deficit. It was so easy to spend that money, but paying it back is another story via a debt Americans will be saddled with for generations.

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Wednesday, April 20, 2011

Obama Gearing Up To Spend More Money


Barack Obama

Rumblings in Washington indicate, U.S. President Barack Obama, is gearing up to undertake even more unnecessary spending, despite the fact the S&P flashed him a massive warning to put the breaks on the cash spree.

The U.S. deficit is the highest it has ever been. Congressional Budget Office calculators are crashing and malfunctioning under the strain, but the President is still prepping new, frivolous spending plans and continues to funnel money to costly and unnecessary projects.

Why is it so difficult to cut the national budget and actually stop spending money on frivolities that do not promote financial health. Is it going to take a catastrophe to make the government stop such fruitless spending. The Obama Administration is behaving like a shopaholic and the U.S. Congress continues to increase its credit limit on money the nation doesn't have to blow.

As a result of the ongoing financial crisis, I see so much suffering in America everyday, as I am not out of touch like the Administration and Congress (yes, I went there). It is painfully obvious, if the government earnestly ended the wars in Afghanistan, Iraq and Libya, cutting their funding and used the money in America instead, life would be exponentially better for Americans.

Productive Americans (some with children) that lost their jobs and homes, are becoming homeless at an increased rate, yet the government sees no need to bring the money back home. How can Washington not have money to help them, but can buy thousands of tomahawk missiles for $1,000,000 each.

Some government workers paychecks are being cut and this wouldn't be so bad if it were the people earning higher salaries. No, it's the lower income government workers that are seeing their pay checks reduced and they feel it the most. If you are making $10,000 - $15,000 per year and the government reduces your pay by up to 30%, you will have significant trouble making ends meet.

The government workers that can stomach pay cuts are those making $70,000 - $100,000 per year. They won't go hungry. However, to target lower income government workers, under the guise of tightening the belt in a crisis, is a lot to ask.

Another area the government is wasting money that could be better spent elsewhere is the exorbitant budgets the FBI, CIA, DOJ and Pentagon receive. One can understand giving a decent budget to Homeland Security to protect the nation's borders, but as I see it, the FBI, CIA, DOJ and Pentagon, get up to so much mischief in the nation and the world, they are being given lavish sums to create preventable problems for everyone.

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Friday, February 11, 2011

ObamaCare To Cost 800,000 People Their Jobs


Barack Obama

U.S. President Barack Obama's health care bill, dubbed ObamaCare, will cost the American economy close to 1 million jobs. This estimate comes courtesy of the Congressional Budget Office (CBO). Unemployment in America hit an all time high during the current financial crisis, making this unwelcome news.

Sadly, ObamaCare is a job killer and deficit raiser. The government needs not sell it as anything else. This in tandem with the fact, ObamaCare, has abortion funds discretely tucked away in its text, which offends religious people, as it will be indiscriminately underwritten by the taxpayers, proves the bill is very flawed. ObamaCare is not fair.

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