The US House and Senate are “reconciling” and this isn’t about a marriage issue but circumventing the US Constitution and floor debate.
When we received “nasty” comments for discussing Barack Hussein Obama and a possible super majority our position was based on facts and well substantiated. No less team Obama saw fit to place this site on “Fight the Smears” for “not” telling the truth.
Obama sites are frequently “scrubbed” to tidy up inconvenient information that doesn’t correspond with past statements. Let’s not do as I said but change our position, then erase what we said before we changed it. See the Leftist pattern here?
When words like Socialist, Marxist, Fascist, or Communist are used by this author we are called hypersensitive or hysterical. Accurate would be a better description but who cares, Obama is saving the world.
Reconciliation was created by Congress in the mid-1970s to enforce deficit reduction, the opposite of what Obama and his Leftist ilk are aiming for.
Obama and Co. “inherited” this economic mess you know and nothing can “stimulate” the economy like spending. Suddenly the world has become a blue light special and rising non-military spending is necessary to pay off unions and other rich donors like George Soros.
Reconciling numbers is one of my specialties so let’s take Obama and his buddies down the path of accounting and financial analysis to demonstrate the deceit of Obama and Liberals who wish to change the face of America, destroy Capitalism and grow government until we establish a full-fledged tyranny.
The Obama budget nearly triples (this is not George W. Bush’s fault) adding $6.5 trillion to the national debt. Playing like Houdini, Mr. Obama claims he will cut the deficit in half over ten-years but this doesn’t include future spending.
Professor Boskin of Stanford University provides the analysis of the Obama budget to reconcile truth from fictions. Let us summarize and simplify:
- The CBO (Congressional Budget Office) baseline cumulative deficit for the Obama 2010-2019 budget is $9.3 trillion.
- Mr. Obama’s “debt difference” is $4.829 trillion — i.e., his tax and spending proposals add $4.829 trillion to the CBO baseline deficit.
- Obama’s budget also adds $177 billion to the fiscal year 2009 budget. To this must be added the $195 billion of 2009 legislated add-ons (e.g., the stimulus bill) since Mr. Obama’s election that were already incorporated in the CBO baseline and the corresponding $1.267 trillion in add-ons for 2010-2019.
- Obama’s total additional debt to $6.5 trillion, not his claimed $2 trillion reduction.
Obama will continue to use former President Bush as his scapegoat while blaming expenses in Iraq and standing at the podium telling anyone who will pant and bow that he has consensus and is fixing the world economy without knowing a thing about economics or fiscal responsibility. The goal is dependency on government, nationalization of banks and private business, not fixing the economy.
Obama’s campaign rhetoric left a $250,000 threshold for taxpayers and reduced the number on what is known as “rich” and millionaires. However, that line in the sand separating “rich” from the have-nots has changed once more.
Finally, what of the claim not to raise taxes on anyone earning less than $250,000 a year? Even ignoring his large energy taxes, Mr. Obama must reconcile his arithmetic. Every dollar of debt he runs up means that future taxes must be $1 higher in present-value terms. Mr. Obama is going to leave a discounted present-value legacy of $6.5 trillion of additional future taxes, unless he dramatically cuts spending. (With interest the future tax hikes would be much larger later on.) Call it a stealth tax increase or ticking tax time-bomb.
The “average” family, those below the Obama threshold of $250,000, will suffer if and when the cap and trade energy policy is passed and implemented. National debt also has its consequences on the “average” family right down to the bottom wage-earner who pays income tax.
The only cure for such a fiscal disaster is drastic spending cuts so let’s not collectively hold our breath waiting for team Obama to reduce spending and creating more debt.
Obama’s ten-year plan, based on many assumptions, would leave the next president (presuming we have Obama for two-terms and America is still recognizable) with the excuse that he/she too “inherited” the economic trouble.
Unfortunately, the next occupant of the White House may inherit a country unrecognizable to the Founding Father’s and freedom loving people around the world.
Indeed, change has come and much of it is in the form of smoke, mirrors and deceit.