Federal budget deficit explained in common sense terms in NC, John Hammer Rhino Times, January 24, 2013, Obama and congress increased spending 40 percent

Federal budget deficit explained in common sense terms in NC, John Hammer Rhino Times, January 24, 2013, Obama and congress increased spending 40 percent

“only 2 percent of the 3.5 million jobs gained since the recession ended in June 2009 are midpay. Nearly 70 percent are low-paying jobs”…AP, Kitsap Sun January 22, 2013

“We tried our plan—and it worked. That’s the difference. That’s the choice in this election. That’s why I’m running for a second term.”…Barack Obama

“the Times of the nineteenth of December had published the official forecasts of the output of various classes of consumption goods in the fourth quarter of 1983, which was also the sixth quarter of the Ninth Three-Year Plan. Today’s issue contained a statement of the actual output, from which it appeared that the forecasts were in every instance grossly wrong. Winston’s job was to rectify the original figures by making them agree with the later ones.”…George Orwell, “1984″

 

Common sense in print in NC.

From John Hammer of the Rhino Times January 24, 2013.

“If you listen to Democrats, and even some Republicans, for the federal government to balance its budget would require draconian cuts that would decimate the Defense Department and put major social welfare programs in bankruptcy. But the truth is that the federal government will take in $2.9 trillion in revenue this fiscal year. If the federal government would simply reduce spending to what it was a mere five years ago it would have a surplus instead of a trillion dollar deficit.

In 2007 the federal government spent $2.7 trillion. That was during the presidency of George Walker Bush and the budget deficit was about $200 billion, because the revenue that year was $2.56 trillion.

What Congress and President Obama have managed to do since then is increase spending astronomically. The projected spending for 2013 is $3.8 trillion. So even though revenue has increased to $2.9 trillion the deficit is still right around a trillion dollars.

It is an unbelievable increase in spending. The problem is not, as Obama continues to say, that the rich aren’t paying their fair share. The problem is that Obama and Congress have increased spending by 40 percent in the past five years. This is during a period of almost no inflation.

Since 2007 the federal government has increased its spending by $1.1 trillion. It is an incredible amount of money and it would be nice to blame it all on Obama, but Obama is a co-conspirator. Spending bills have to originate in the House, which the Republicans have controlled since 2011. Obama in his first term had pretty much free rein in Congress. The Democrats controlled the House and for almost a year had a filibuster-proof majority in the Senate. Spending skyrocketed and in Obama’s first year in office, 2009, the budget deficit increased to $1.4 trillion.

What could only be done in Washington – where reality left the building decades ago – is that the budget deficit has remained over $1 trillion. The reason for the budget deficit in 2009 was the $1 trillion stimulus plan that Congress passed and Obama signed as soon as possible. That was supposed to spike up the spending, but then it was supposed to come back down.

It never has.

But the country ran pretty well in 2007. We were fighting the War on Terror in Iraq and Afghanistan, Social Security was being paid, as were Medicare and Medicaid. The federal government was throwing money at local governments, as it does, but evidently to go back to those years would be a tremendous hardship. It’s hard to believe.”

Read more:

http://greensboro.rhinotimes.com/Articles-Columns-c-2013-01-23-214571.112113-under-the-hammer.html






Related News

  • Whitey Tape, API, Phil Berg, and Andy Martin October 21, 2008, “Michelle Obama making disparaging comments about white folks”, “None of my three main sources….have backed off.”
  • Has Jim Comey Disgraced the FBI?, November 6, 2016, “He has crossed a line into the political world.”, “Jim Comey’s FBI. It is perceived to be crooked.”
  • What’s on the Michelle Obama Rant Tape?, Filmed in 2004 in Chicago IL at the Rainbow/PUSH Coalition Conference at the Sheraton Hotel in Chicago, Michelle Obama spoke at the “Women’s Event”, DVD that Trinity United sold on its website
  • Washington Post Fake News and CIA Spin Dec 11, 2016, “sources for the story are people not from the CIA”, “does not, as Hillary claimed in October, represent the views of the 17 Intelligence agencies. “
  • Unraveling the Russian Hack Conspiracy Propaganda Dec 9, 2016, “The CIA is now allowing itself to be used once again for blatant political purposes.”
  • John Brennan’s Failed Soft Coup?, Larry Johnson No Quarter December 14, 2016, Brennan’s agency spread Russia lie, “tried and failed to take out Donald Trump”
  • Hillary Clinton approved anti Trump disinformation plan “distracting the public from her use of a private mail server.”, Obama admin, Brennan, Comey and Strzok notified in 2016
  • Tucker Carlson: Liberal policies are failing black Americans, Fox News June 10, 2020, Defunding police means many more black Americans will die
  • Leave a Reply

    Your email address will not be published. Required fields are marked as *

    *