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If Pres. Obama "isn't serious" about cutting federal spending, it's probably because he thinks a...

If Pres. Obama "isn't serious" about cutting federal spending, it's probably because he thinks a lot like most Americans. People talk a good game about deficit reduction, but no one really wants to do much about it. Despite all the angst about how to solve the fiscal cliff and deficits, there's little support in the public for most specific options for cutting spending - even among Republicans.
Comments (36)
  • Tony Petroski
    , contributor
    Comments (6373) | Send Message
     
    Now this blurb hits home.
    15 Dec 2012, 09:17 AM Reply Like
  • kmi
    , contributor
    Comments (4041) | Send Message
     
    Obama might be more open to spending cutting than pretty much anyone else, simply because he isn't running for re-election. How many of his opponents can claim as much.

     

    Spending cuts will increase a recessionary possibility, but if he times it right he could land it squarely in the next guy's lap, while taking credit for spending reductions.

     

    I don't think anything's a given with regard to the sequestration, except maybe the middle class tax cut extensions.
    15 Dec 2012, 09:21 AM Reply Like
  • Tony Petroski
    , contributor
    Comments (6373) | Send Message
     
    Mr. kmi: You can't be serious.

     

    "Obama might be more open to spending cutting than pretty much anyone else, simply because he isn't running for re-election. How many of his opponents can claim as much."

     

    It's a good thought, but there's little evidence that Obama wants to balance the budget or cut spending or... surely you realize this guy wants to make us Cuba times 10?
    15 Dec 2012, 09:43 AM Reply Like
  • berbno1
    , contributor
    Comments (1379) | Send Message
     
    The election is over, but it's interesting the dialog has not changed much??? Obama took all battleground states and has managed to paint the Repubs into a corner...now you assert he wants to dump something in the next guys lap??? are you not paying attention? The "next guy" will be a Clinton. Obama is much more centrist than the socialist the Repubs blabber. He emulates Bill and wants to get close to the legacy of the Clinton fiscal record. Meanwhile, conservatives are concerned about gun control and getting God back in the classrooms to protect the kids. The GOP needs to get their house in order and start grooming a credible candidate for 2024.
    15 Dec 2012, 01:28 PM Reply Like
  • wyostocks
    , contributor
    Comments (8244) | Send Message
     
    berbno

     

    You ahve spent way too much time at the democratic propaganda Kool Aid fountain.
    15 Dec 2012, 01:43 PM Reply Like
  • kmi
    , contributor
    Comments (4041) | Send Message
     
    I'd love to know who you, Mr Petroski, think has less to lose by encouraging strong spending cuts than a politician in his final term in office.

     

    Feel free to name names too if you can find any.

     

    Spending cuts will lead to recession, as will tax hikes. That's a given. Now find me leaders willing to take that burden upon themselves.
    15 Dec 2012, 06:03 PM Reply Like
  • berbno1
    , contributor
    Comments (1379) | Send Message
     
    @wyo you guys may drink KoolAid, but we drink Ale to the Chief & the White House Honey Porter tasted great the evening of Nov. 6th.
    15 Dec 2012, 07:12 PM Reply Like
  • russellb73
    , contributor
    Comments (403) | Send Message
     
    Is this a joke? Completely imbalanced slanted comment...where is the alternate tittle "Boehner fails to negotiate, wants to steal social security from retired seniors whom payed into the system".

     

    Here for balance to the SA comment....

     

    You mean people making over 250000 per year are really afraid of paying a little more? Think about basic needs and then add 150000 for anything they like...hmmm I think a higher tax rate closer to how its been pretty much forever is appropriate (tax rate is about as low as its ever been). Shame on people who are rich and don't acknowledge the advantages that the rich enjoy every day. Sure some actually worked hard to get were they are but all are rewarded plenty already. Also, people that believe in the wars we are currently fighting should put their money where their beliefs are. In the old days patriots bought war bonds, not whined about how high their taxes are.
    15 Dec 2012, 09:30 AM Reply Like
  • Energysystems
    , contributor
    Comments (1137) | Send Message
     
    How about a spending rate that's normalized, current federal spending is 25% of GDP. Or the fact that during the "Grand Bargain" talks, Obama called for 800B in more taxes, and now is calling for 1.6T?

     

    Balance my tukkish!
    15 Dec 2012, 09:48 AM Reply Like
  • Tony Petroski
    , contributor
    Comments (6373) | Send Message
     
    Mr. russellb73. You are making great points and I agree with you.

     

    I particularly liked this: "Shame on people who are rich and don't acknowledge the advantages that the rich enjoy every day. Sure some actually worked hard to get were they are but all are rewarded plenty already. Also, people that believe in the wars we are currently fighting should put their money where their beliefs are. In the old days patriots bought war bonds, not whined about how high their taxes are."

     

    You make a great point.

     

    Portent of things to come: "the rich" is you. They will come after what you have. Prepare.
    15 Dec 2012, 09:50 AM Reply Like
  • BlueOkie
    , contributor
    Comments (5582) | Send Message
     
    First they came for the Jews and I said nothing; then they came for my neighbor and I said nothing; when they came for me and there was no one to stop them.
    15 Dec 2012, 09:54 AM Reply Like
  • BlueOkie
    , contributor
    Comments (5582) | Send Message
     
    So if you are rich and enjoy advantages and you worked for it, the gov't should get more of your money. What should the gov't do with it? Not defense as that is one of the major requirements in our Constittution but rather give it to people who haven't worked so they can enjoy the advantages. If that be the case why should anyone work?
    Money is the same as freedom! It gives one options to do many things. The more money you have the more choices you have ergo freedoms. If the gov't taxes and takes your money it is the same as taking your freedoms.
    15 Dec 2012, 09:58 AM Reply Like
  • tomlos
    , contributor
    Comments (1147) | Send Message
     
    you can't reason with these people, please don't try. Because I am doing well, it is MY fault someone else isn't.. The mentality of the left is simply stunning.

     

    Not to mention, there are no facts or reason to back it up. You can confiscate all of the rich wealth in the country and it wouldn't run the government for more than a few months. Individual welfare, and corporate welfare need to both stop, and that is the ONLY way this will get solved.

     

    I promise you the people who enact this change, will NOT get re-elected. It won't be popular, but it needs to be done by strong courageous people to save this great nation. That certainly is not BHO.
    15 Dec 2012, 10:20 AM Reply Like
  • wyostocks
    , contributor
    Comments (8244) | Send Message
     
    blue....
    Very profound and true.
    15 Dec 2012, 10:29 AM Reply Like
  • Tony Petroski
    , contributor
    Comments (6373) | Send Message
     
    Mr. tomlos is right:

     

    "You can confiscate all of the rich wealth in the country and it wouldn't run the government for more than a few months..."

     

    And he's right again:

     

    "I promise you the people who enact this change, will NOT get re-elected. It won't be popular, but it needs to be done by strong courageous people to save this great nation."

     

    Never, better-said.
    15 Dec 2012, 11:10 AM Reply Like
  • berbno1
    , contributor
    Comments (1379) | Send Message
     
    "When a man tells you that he got rich through hard work, ask him: Whose?" -- Donald Robert Perry Marquis
    15 Dec 2012, 05:38 PM Reply Like
  • Ivers
    , contributor
    Comments (4) | Send Message
     
    Well said. I dislike talking politics in a forum that is supposed to be about investment, but when people make claims that Obama is a socialist leftist, I have to wonder are their investment strategies clouded by propaganda as well.

     

    Lets leave politics out of the discussion and just talk about what is actually happening.
    15 Dec 2012, 10:18 PM Reply Like
  • x oil -field
    , contributor
    Comments (59) | Send Message
     
    This has to be the best comment-replies I have read thus far in the thread,short and to the point.

     

    P.S. Credit-card war(s) can be very expensive,and take one hell of a' long long time to payoff-down.
    16 Dec 2012, 01:44 AM Reply Like
  • Teutonic Knight
    , contributor
    Comments (2061) | Send Message
     
    The senseless borrowing will subside and decline when and only when the lenders put on the screws. We have not reached that point yet.

     

    It is still early.
    15 Dec 2012, 09:55 AM Reply Like
  • Robert Duval
    , contributor
    Comments (4531) | Send Message
     
    I have concluded the above is correct, sadly. Financial responsibility will only arrive when the market disciplines the leadership. I don't pretend to know when that occurs, but it will be harsh medicine when that day arrives!
    15 Dec 2012, 02:00 PM Reply Like
  • Archman Investor
    , contributor
    Comments (2470) | Send Message
     
    I want my 2000 weeks of unemployment benefits.

     

    I can get a job that pays me $50K however if I choose to earn $20K and get all the govt freebies and tax breaks I can earn the equivalent of $60K with little or no taxes paid and work a couple of days a week. Why the heck should I work?

     

    I want my free cell phone and service cause the gov't wants me to be able to keep in contact with my "loved ones".

     

    I want more free money from the gov't so I can pursue my dream of becoming a professional gambler with that tax payer money. Plus I can be showcased on TV, brag about it, and not one gov't agency will come after me and arrest me for fraud.
    15 Dec 2012, 10:06 AM Reply Like
  • tomlos
    , contributor
    Comments (1147) | Send Message
     
    You've been speaking to Nancy Pelosi I see!
    15 Dec 2012, 10:21 AM Reply Like
  • Archman Investor
    , contributor
    Comments (2470) | Send Message
     
    Hey man that's my mom!!! LOL.
    15 Dec 2012, 10:35 AM Reply Like
  • Bret Jensen
    , contributor
    Comments (10745) | Send Message
     
    It is called the absence of presidential leadership, which is about doing the right thing for the country not by listening to the polls from people who can barely balance their checkbook. It is going to be long four years.........http://seekingalpha.co...
    15 Dec 2012, 10:23 AM Reply Like
  • Archman Investor
    , contributor
    Comments (2470) | Send Message
     
    Amen Bret.

     

    It is every person for themselves now. Anyone following any of these mindless politicians is going to be so far down the hole they can never climb back out.

     

    Dividend paying stocks....check.
    Physical gold and silver....check.
    Multiple streams of income....check.
    Self reliance......check.
    Ability to think for one's self...check.
    Prepared for anything....check.

     

    Watching America implode while the 80% of American losers end up blaming each other for their own pathetic outcome....check, check and check.
    15 Dec 2012, 10:39 AM Reply Like
  • Teutonic Knight
    , contributor
    Comments (2061) | Send Message
     
    It is downhill because the four (4) most bloated and unproductive sectors are intact and protected like sacred cows:

     

    1) Gov't at all 3 levels
    2) Defense and defense industrial enterprise
    3) Financial sector
    4) Higher Education.

     

    Mr. Obama entire tenure of the past four years was sustained entirely by additional borrowing; only 1 month did the gov't register a surplus (name that one?).

     

    Success in growing government and growing debt, that's it!
    15 Dec 2012, 11:16 AM Reply Like
  • radicall
    , contributor
    Comments (534) | Send Message
     
    Setting the taxes back to Clinton level for everyone would eliminate 50% of the deficit. Check out the WSJ make your own deficit plan tool http://bit.ly/U0YWZU
    15 Dec 2012, 12:58 PM Reply Like
  • wyostocks
    , contributor
    Comments (8244) | Send Message
     
    radicall

     

    Only if the spending level was also reset to the "Clinton Era".
    15 Dec 2012, 01:44 PM Reply Like
  • Remyngton
    , contributor
    Comments (354) | Send Message
     
    .
    .
    Welfare checks
    Food stamps
    section 8 housing
    medicaid

     

    yep , Obama's dying to cut spending
    .
    .
    15 Dec 2012, 08:24 PM Reply Like
  • jhooper
    , contributor
    Comments (6045) | Send Message
     
    "People talk a good game about deficit reduction"

     

    The goal shouldn't be about deficit reduction. The debt isn't really the problem. The problem is what the debt is being created for.

     

    When debt is created for increased productivity that is a good thing. When debt is created for less productivity that is a good thing. Both Obama and Boehner are laboring under a false premise. What will happen is the destruction of Fed notes that will lead to asset inflation and less GDP and maybe a recession depending on how many notes they destroy. The trick will be if the Fed can create more notes than Obama and Boehner can destory.
    15 Dec 2012, 10:26 PM Reply Like
  • chopchop0
    , contributor
    Comments (3541) | Send Message
     
    Yup. it's because we as a population are stupid and want to have our cake with no calories.
    15 Dec 2012, 11:01 PM Reply Like
  • BlueOkie
    , contributor
    Comments (5582) | Send Message
     
    We have lost our values. Family is no longer the primary caregiver - we go to Uncle Sugar now. We've taken god out of our schools and courts. Marriage has become a joke. Single parents are becoming more prevalent than ever. All great civilizations have crumbled from within. Instead of catering to those who come here (they are welcomed), let them change to our lifestyle. e.g. Make English the official language. How does California with a 23% poverty rate vote for a incumbent President?
    16 Dec 2012, 08:11 AM Reply Like
  • Archman Investor
    , contributor
    Comments (2470) | Send Message
     
    Blue:
    Leaving the politics out of it for a moment I want to say thank you for your honest response. You have spoken the true words for what ails this country. Morality, civility, knowledge of right and wrong, quality over quantity, etc. have all been vacated in our country.

     

    The welfare state is in full bloom. Corruption, even at the highest levels of government is in full bloom.

     

    I will say it again: We are in self preservation mode folks. The dumbed down of our nation, which is now the majority will stay that way until their slave masters aka. our government can no longer bleed everything dry. When that ends....oh my goodness.
    16 Dec 2012, 08:18 AM Reply Like
  • Remyngton
    , contributor
    Comments (354) | Send Message
     
    They vote for :

     

    Welfare checks
    Food stamps
    section 8 housing
    medicaid

     

    .
    all free , as long as you vote for the Messiah

     

    .
    16 Dec 2012, 11:42 AM Reply Like
  • Teutonic Knight
    , contributor
    Comments (2061) | Send Message
     
    Folks,

     

    Something has to be done real quick and the time is now.

     

    If we continue to incur additional $1T each year, fifteen (15) years later we will add another $15T more to the $16.3T which is equal to $31.3T by 2025.

     

    We will be toast with a projected GDP of about $20T by 2025.

     

    USA will become a Piece of S (POS)!
    16 Dec 2012, 11:44 AM Reply Like
  • Remyngton
    , contributor
    Comments (354) | Send Message
     
    .
    Obamanomics = Welfare checks + Food stamps +section 8 housing+medicaid

     

    .
    16 Dec 2012, 05:16 PM Reply Like
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