ARRA News Service facebook page
News for social, fiscal & national security conservatives who believe in God, family & the USA. Upholding the rights granted by God & guaranteed by the U.S. Constitution, traditional family values, "republican" principles / ideals, transparent & limited "smaller" government, free markets, lower taxes, due process of law, liberty & individual freedom. Content approval rests with the ARRA News Service Editor. Opinions are those of the authors. While varied positions are reported, beliefs & principles remain fixed. No revenue is generated for or by this site - no paid ads - no payments for articles. Fair Use doctrine is posted & used.
Editor/Founder: Bill Smith, Ph.D. [aka: OzarkGuru & 2010 AFP National Blogger of the Year]
Contact: (Pub. Since July, 2006)
    Home Page

One of the penalties for refusing to participate in politics is that you end up being governed by your inferiors. -- Plato (429-347 BC)

Monday, February 14, 2011

Obama's Budget: Spends Too Much, Taxes Too Much & Borrows Too Much

The Senate resumed consideration of S. 223, the FAA reauthorization bill. Votes on amendments to the FAA bill are also possible today.  At 4:30, the Senate will proceed to executive session to consider two district court nominees. Following an hour of debate, there will be a roll call vote on confirmation. Obama's court nominees slipping right on through.

Obama's nominations are often more examples of how President Obama feels free to ignore the majority of the American people .  Another was evidenced today by his effort to and push his liberal agenda via his proposed budget for the 2012 fiscal year.  And it appears most people are not going to allow  his budget to go very far.  Before providing the reaction from various sources, here in thumbnail form are the Key facts from President Obama’s Fiscal Year 2012 Budget:
-       Spends Too Much
o       $3.8 trillion in spending this year; 25.3% of GDP (highest since WWII)
o       $46 trillion in spending over the decade; $8.7 trillion in new spending
-       Taxes Too Much
o       $1.6 trillion tax hike on families, small businesses, and job creators
o       Revenues as a percent of GDP climb to 20%
-       Borrows Too Much
o       $1.6 trillion deficit for FY2012; a record third straight trillion dollar deficit
o       Doubles and then triples debt held by the public since President took office
o       $13 trillion added to the debt over the decade

ABC’s Jake Tapper quickly pointed out the bottom line on Obama’s $3.7 trillion proposal this morning: “The plan shows that Obama will not take the lead on any aggressive measure to eliminate the nation’s $14 trillion debt. This sets up the Obama administration on a collision course with Republicans, who are calling for serious deficit reduction and spending cuts. . . . At no point in the president’s 10-year projection would the U.S. government spend less than it's taking in.”

The New York Times writes, “With the budget he is to unveil Monday, President Obama has not opted for the bold, comprehensive approach to reining in the fast-growing federal debt that his own fiscal commission has said is needed, now.” Over the weekend, The Times noted, “The budget confirms that Mr. Obama is not taking the lead in embracing the kind of far-reaching deficit-reduction plan recommended in December by a bipartisan majority of his fiscal commission.”

The Washington Post points out, “Still, $1.1 trillion in savings would barely dent deficits that congressional budget analysts say could approach $12 trillion through 2021. The deficit is projected to approach $1.5 trillion this year and will remain above $1 trillion in 2012 under Obama's new spending plan, [Democrat Senate Budget Committee Chairman Kent] Conrad said.” And according to the USA Today, “The spending plan will still result in a 2012 deficit of $1.1 trillion. Annual deficits would not drop below $600 billion, and over the decade they would add an additional $7.2 trillion in red ink to the national debt.”

The Wall Street Journal
adds, “Mr. Obama's plan to reduce the deficit by $1.1 trillion over 10 years is short of the $4 trillion in reductions the White House's bipartisan deficit-reduction commission proposed in December. It would bring the country's deficit to around 3% of the country's GDP by 2017, an administration official said. That is higher than the 2.3% threshold the deficit-reduction commission proposed. The White House would fail to meet a promise made a year ago to balance the budget outside of interest payments on the federal debt by 2015, which would mean a deficit of 3% of GDP.”

Even worse, at a time when unemployment is still around 9%, even the AP headlined, “Obama budget resurrects rejected tax increases” and reported, “The plan unveiled Monday includes tax increases for oil, gas and coal producers, investment managers and U.S.-based multinational corporations. The plan would allow Bush-era tax cuts to expire at the end of 2012 for individuals making more than $200,000 and married couples making more than $250,000.”

Meanwhile, USA Today notes, “budget experts blasted the [president’s] budget.” “‘The entitlement and tax reform agenda will apparently be deferred yet again,’ said Robert Bixby, director of the Concord Coalition, a fiscal watchdog group. ‘It makes you wonder what the point was of having a commission in the first place.’” And the Democrat co-chair of President Obama’s fiscal commission, Erskine Bowles, “said the White House budget request goes ‘nowhere near where they will have to go to resolve our fiscal nightmare,’” according to The Washington Post.

Freshman Representative Tim Griffin (R-AR) responded, “The President is asking us to spend more money next year than we did last year and his budget proposal expands the deficit to a record $1.65 trillion while adding trillions of dollars to the national debt over the next ten years. The national debt is the greatest challenge of our lifetime and the head of the President’s own fiscal commission — President Clinton’s Chief of Staff Erskine Bowles — says this budget goes ‘nowhere near where they will have to go to resolve our fiscal nightmare.’ I am committed to working together in a bipartisan manner in Congress to pass a budget that will start to get our fiscal house in order.”

Americans for Limited Government President Bill Wilson warned, "By 2021, under the Obama budget, the national debt will balloon to $26.3 trillion from its current level of $14.1 trillion, an 86.5 percent increase. In fact, this year, in 2011, the national debt will grow to $15.4 trillion, larger than the entire economy. Thereafter, the debt-to-GDP levels will stay above 100 percent, growing every single year.

"In fact, under the Obama budget, the national debt will never be repaid. It will continue to grow into perpetuity. Even under the rosiest of scenarios projected by the Obama Administration, the debt will be growing faster than the economy and be larger than the economy — forever. If spending is not cut drastically and the debt paid down at fixed intervals like a mortgage payment, one day the debt will become too large to service, let alone be paid down. Net interest alone will be $844 billion annually by 2021, a number that will easily double by 2030 if not triple."

Senate GOP Leader Mitch McConnell said in a statement reported in the The Washington Post’s, “The president talks like someone who recognizes that spending is out of control, but so far it hasn't been matched with action. And his only solution to one of the most significant problems facing our country is to lock in spending at levels we all know are completely unsustainable. Americans don't want a spending freeze at unsustainable levels. They want cuts, dramatic cuts.”

As presidential candidate hopeful Herman Cain might say, President Obama’s budget has "side stepped" the serious fiscal problems our nation faces, has "ignored" the facts and we will see him soon see him "name calling" the House Republicans for standing in his way. Instead he has presented a budget that “will not take the lead on any aggressive measure to eliminate the nation’s $14 trillion debt” and continues deficit spending for the next decade which cannot be allowed to continue unchecked.

We conclude with the words of House Budget Committee Chairman Paul Ryan (R-WI) who stands in the People's House leading the effort to stop the President's proposed runaway spending: “The President’s budget spends too much, taxes too much, and borrows too much – stifling job growth today and leaving our children with a diminished future. In this critical test of leadership, the President has failed to tackle the urgent fiscal and economic threats before us.”

“Failing to heed the warnings of economists and the demands of the American people, the President’s budget accelerates our country down the path to bankruptcy. Far from ‘living within its means,’ the President’s budget puts the government on track to nearly double in size since the day he took office – a direct result of his party’s reckless spending spree. His budget destroys jobs by imposing a $1.6 trillion tax hike, adding $13 trillion to the national debt and fueling uncertainty in the private sector.

“We cannot tax, spend and borrow our way to prosperity. Where the President has fallen short, Republicans will work to chart a new course – advancing a path to prosperity by cutting spending, keeping taxes low, reforming government, and rising to meet the challenges of our time.”   Go Ryan Go!

Tags: Washington, D.C., US Senate, US House, President Obama, budget, More Taxes, More Spending, More debt, Mitch McConnell, Paul Ryan, news, To share or post to your site, click on "Post Link". Please mention / link to the ARRA News Service. Thanks!
Posted by Bill Smith at 2:37 PM - Post Link


Post a Comment

<< Home

View U.S. National Debt

Don't miss anything!
Subscribe to the
ARRA News Service
It's FREE & No Ads!

You will receive a verification email
& must validate you subscribed!

You Then Receive One Email Each AM
With Prior Days Articles / Toons / More

Also, Join us at:

Recent Posts:
Personal Tweets by the editor:
Dr. Bill - OzarkGuru - @arra
#Christian Conservative; Retired USAF & Grad Professor. Constitution NRA ProLife schoolchoice fairtax - Editor ARRA NEWS SERVICE. THANKS FOR FOLLOWING!

Action Links!
Arkansas State Senators
AR State Representatives
Arkansas Governor Office
Arkansas Attorney General
Bankrupting America
US House of Representatives
US Senators
Family Research Council
Sunshine Review

Facebook Accts - Dr. Bill Smith
ARRA News Service
Arkansans Against Big Government
Alley-White Am. Legion #52
Catholics & Protestants United Against Discrimination
End Taxpayer Funding of NPR
Overturn Roe V. Wade
Prolife Soldiers
Project Wildfire 4 Life
Republican Liberty Caucus of Arkansas
The Gold Standard
US Atty Gen Loretta Lynch, aka Eric Holder, Must Go
Veterans for Sarah Palin
Why Vote for Hillary (Satire)
FB Groups:
Arkansas For Sarah Palin
Arkansas Conservative Caucus
Arkansas County Tea Party
Arkansans' Discussion Group on National Issues
Blogs for Borders
Conservative Solutions
Conservative Voices
Defend Marriage -- Arkansas
FairTax Nation
Arkansas for FairTax
Friends of the TEA Party in Arkansas
Freedom Roundtable
Pro-Life Rocks - Arkansas
Republican Network
Republican Liberty Caucus of AR
Reject the U.N.


Request Via
Article Comment

Links to ARRA News
A Patriotic Nurse
Agora Associates
a12iggymom's Blog
America, You Asked For It!
Americans for a Free Republic
America's Best Choice
America's Whatchtower
An Ol’ Broad’s Ramblings
ARRA Twitter
As A Matter of Fact
As The Crackerhead Crumbles
Baaad Media!
Black & Right
Blogs For Borders
Blogs for Palin
Blow the Trumpet Ministry
Boot Berryism
Cap'n Bob & the Damsel
Chicago Ray Report
Chuck Baldwin - links
Citizen Pamphleteer
Common Cents
Conservative Hideout
Conservative Observer AZ
Conservative Voices
Conway Real Deal
Defeat Obama's Agenda
Diana's Corner
eGOP News
Florida Pundit
Franklin Online Outreach
Freedom For US Now
Free Zone Media Center
For God and Liberty
Garland County Republicans
Greater Fitchburg For Life
Lasting Liberty Blog
Liberal Isn't Amy
Liberty's Lifeline
Maggie's Notebook
Marathon Pundit
Monkey in the Middle
NASA Satellites
No Runny Eggs
Okie Campaigns
Our Voices Arkansas
Patriot's Corner
Publius Forum
Randy's Roundtable
Real Debate Wisconsin
Religion and Morality
Right on Issues that Matter
Right Reason
Rocking on the Right Side
Saber Point
Saline Watchdog
Secure Arkansas
Sentry Journal
Sultan Knish
Stop Obama Satire & Cartoons
The Arkansas Patriot
The Audacity of Logic
The Blue Eye View
The Bobo Files
The Born Again Americans
TEA Party Cartoons
The Conservative Citizen
The Foxhole | Unapologetic Patriot
The Liberty Republican
The Lid
The Looking Spoon
The Maritime Sentry
The O Word
The Path to Tyranny Blog
The Real Polichick
The War on Guns
Truth About Obamacare
Twitter @ARRA
Warning Signs
Women's Prayer & Action

Editor's Managed Twitter Accounts
Twitter Dr. Bill Smith @arra
Twitter Arkansas @GOPNetwork
Twitter @BootBerryism
Twitter @SovereignAllies
Twitter @FairTaxNation

Editor's Recommended Orgs
Accuracy in Media (AIM)
American Committment
American Culture & Faith Institute
American Enterprise Institute
American Family Business Institute
Americans for Limited Government
Americans for Prosperity
Americans for Tax Reform
American Security Council Fdn
AR Faith & Ethics Council
Arkansas Policy Foundation
Ayn Rand Institute
Bill of Rights Institute
Campaign for Working Families
CATO Institute
Center for Individual Freedom
Center for Immigration Studies
Center for Just Society
Center for Freedom & Prosperity
Citizens Against Gov't Waste
Citizens in Charge Foundstion
Coalition for the Future American Worker
Competitive Enterprise Institute
Concerned Veterans for America
Concerned Women for America
Declaration of Am. Renewal
Eagle Forum
Family Research Council
Family Security Matters
Franklin Center for Gov't & Public Integrity
Freedom Works
Gingrich Productions
Global Incident Map
Great Americans
Gold Standard 2012 Project
Gun Owners of America (GOA)
Heritage Action for America
David Horowitz Freedom Center
Institute For Justice
Institute for Truth in Accounting
Intercollegiate Studies Institute
Judicial Watch
Less Government
Media Reseach Center
National Center for Policy Analysis
National Right To Work Foundation
National Rifle Association (NRA)
National Rifle Association (NRA-ILA)
News Busters
O'Bluejacket's Patriotic Flicks
Open Secrets
Presidential Prayer Team
Religious Freedom Coalition
Renew America
Ron Paul Institute
State Policy Network
Tax Foundation
Tax Policy Center
The Club for Growth
The Federalist
The Gold Standard Now
The Heritage Foundation
The Leadership Institute
Union Facts

Blogs For Borders

Reject the United Nations

Adopt Our Troops in Prayer

Thousands of Deadly Islamic Terror Attacks Since 9/11

FairTax Nation on FaceBook
Friends of Israel - Stand with Israel
Blog Feeds
Syndicated - Get the ARRA News Service feed Syndicated!
ARRA Blog Feed

Add to Google Reader or Homepage

Add to The Free Dictionary

Powered by Blogger

  • To Exchange Links - Email:!
  • Comments by contributing authors or other sources do not necessarily reflect the position the editor, other contributing authors, sources, readers, or commenters. No contributors, or editors are paid for articles, images, cartoons, etc. While having reported on and promoting beliefs associated with the former Arkansas Republican Assemblies (ARRA), this blog/site is controlled and supported by the editor. This site/blog does not advertise for money or services nor does it solicit funding for its support.
  • Fair Use: This site/blog may contain copyrighted material the use of which has not been specifically authorized by the copyright owner. Such material is made available to advance understanding of political, human rights, economic, democracy, and social justice issues, etc. This constitutes a 'fair use' of such copyrighted material as provided for in section Title 17 U.S.C. Section 107 of the US Copyright Law. Per said section, the material on this site/blog is distributed without profit to readers to view for the expressed purpose of viewing the included information for research, educational, or satirical purposes. Any person/entity seeking to use copyrighted material shared on this site/blog for purposes that go beyond "fair use," must obtain permission from the copyright owner.
  • © 2006 - 2018 ARRA News Service
Creative Commons License
Creative Commons Attribution Noncommercial Share Alike 3.0 Unported License.