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  • Monday, February 13, 11:31 AM As well flagged, President Obama sends Congress a $3.8T budget request for FY 2013, but given the tax rises that are included, it's unlikely to pass intact and certainly not before the election. The request forecasts that the deficit will rise to $1.33T this FY before falling to $901B in FY 2013. You can watch Obama's budget remarks live here.
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This news story has 10 comments:

  • How much of that money (my tax dollars) are going over seas ???
    Quit spending and stop giving to the military, they are out of controll waste money right an left.......been there seen it......
    13 Feb, 11:44 AM Reply Like
  • Most Americans support raising taxes on top 1%. Todays wealthy only pay 14% (Mitt) in federal taxes, a 58 year low. This is class-warfare against working families who pay more and also pay social security/Medicare.
    13 Feb, 11:49 AM Reply Like
  • Terry, you are a broken record. Do you get your talking points from Media Matters?

    
This is an email I received this week that rather brilliantly cuts thru all the political doublespeak. The below example puts the present US economic situation in a very clear perspective, it’s the same for many European countries.

    Why the U.S. was downgraded:



    • U.S. Tax revenue: $2,170,000,000,000

    • Fed budget: $3,820,000,000,000

    • New debt: $1,650,000,000,000

    • National debt: $14,271,000,000,000

    • Recent budget cuts: $ 38,500,000,000

    

Let's now remove 8 zeros and pretend it's a household budget:


    • Family income: $21,700
    • Family spent: $38,200
    • New debt on the credit card: $16,500

    • Outstanding balance on the credit card: $142,710
    
• Total budget cuts: $385

    The above is what 40 years of incremental and progressive liberalism and free ice cream to buy votes for the next election buys for our children and grandchildren. Presently, we have a President, his Staff, and many of our Congressional Members that are telling the American people that we need 4 more years of this type of government leadership and direction. Please tell them no!!!
    13 Feb, 11:53 AM Reply Like
  • Wish everyone would ignore him. Terry is either a pathetic troll or an automated bot. Why SA editors don't pull the plug on him, or it, I can't figure. If you look at Terry comments they are not remotely about investing. Although what is even more amazing are the thumbs up posts so many readers click. They make Terry, human or otherwise, seem absolutely brilliant.
    13 Feb, 07:25 PM Reply Like
  • I love the spending is called an "investment"...lol....... an investment in future votes..
    13 Feb, 12:33 PM Reply Like
  • Obama is just a scum bag trying to buy votes. He knows his base. I kind of want him to win so he can face the crap we'll be dealing with in 2012-16. We'll be Italy in 2-3 years. 1.3T deficit, are you kidding me? Why do these idiots think they can grow our economy by spending money we don't have? Cutting government and facing the temporary hit would be better. Obama: ruining the US for 4 more years of power.
    13 Feb, 05:58 PM Reply Like
  • The President doesn't expect his budget to pass. He just wants to run against a do nothing Congress.His base is comprised of parasites and socialists with a scattering of fringe interest groups thrown in. Of course, he'll raise millions from the ambulance chasers and Hollywood elites who champion the little people from their 25,000sq ft perches in hills. They should be careful what they wish for. One day, Obama will be at their door demanding that they house ten families in their manses.
    13 Feb, 06:16 PM Reply Like
  • Just as easy to buy the rich as it is the pauper. Since there is a lot less of them, it is cheaper as well. The result is the upper middle class wage earner will wind up paying the lion's share of the bill without enough votes to prevent it. How are you going to hide a corporate salary or investment income from the IRS?

    But I bet there are tax breaks for "critical" jobs like teachers and highly payed government workers.
    13 Feb, 07:19 PM Reply Like
  • Spot on GL. Obama would cripple the upper middle class. They are the bourgeoisie he despises. Better to be Obama's nomenklatura. The uber wealthy are beyond his reach...for the time being.
    13 Feb, 07:46 PM Reply Like
  • Obama's not gonna raise taxes on the wealthy. He's gonna trade that to the Republicans for unemployment payments and payroll tax cuts. Neither side will cut spending or raise taxes. The sooner Americans realize that both sides of the aisle are equally to blame, the better they'll be able to prepare individually.

    Get your popcorn ready. We'll all get to watch the nightmare unfold over the coming years.
    14 Feb, 07:44 AM Reply Like
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