Jamesb101.com

commentary on Politics and a little bit of everything else

The Administration rolls out a $3.8 Trillion Budget……..

obamabudget

President Barack Obama proposed a $3.8 trillion budget for fiscal 2011 that will add fuel to the debate over the size and scope of government. The plan includes big increases in personal and business taxes, modest spending cuts and increased outlays for education, defense and jobs initiatives.

In the days leading up to Monday’s release, the Obama administration has focused on proposals to cap so-called discretionary spending, roughly 17% of the total budget, as part of a plan to narrow the record $1.6 trillion gap between proposed budget outlays and tax receipts. But the budget plan calls for nearly $1 trillion in tax increases on upper-income families—largely by allowing Bush tax cuts to expire. Banks, bankers and multinational corporations would face new fees and levies. And oil companies would lose $39 billion in tax breaks.

Overall, Mr. Obama’s budget plan would shrink the current deficit to $727 billion, or 4.2% of the gross domestic product, by 2013. But if annual deficits shrink, the total federal debt will keep growing. In all, the president’s budget would add $8.5 trillion to the federal debt through 2020, pushing the debt as a percentage of GDP to 77% from 53%.

To hold the government to 77%, the president must rely on politically painful choices, including cuts to some domestic programs and large tax increases as the tax cuts of George W. Bush expire at year end. In that sense, the president is showing voters the choices they face to maintain the government they have.

In his budget message, the president narrowed the sweeping message of his first budget to a single issue: jobs. “Until our businesses are hiring again and jobs are being created to replace those we have lost—until America is back at work—my administration will not rest and this recovery will not be finished,” he wrote.

The Dog reminds everyone that Budgets are political doucuments……as such this one addresses one issue….Jobs…..Merlin was right on this ….

And the race for 2010 and 2012 is on!…….

February 1, 2010 - Posted by | Breaking News, Government, Media, Men, PoliticalDog Calls, PoliticalDogs Merlin, Politics, Polls, Taxes, The Economy, Updates | , , ,

7 Comments »

  1. The entitlements are the big ones. This is where the real tough choices will come. If you thought health care was tough it will be a day at the beach compared to social security.

    Comment by Illinois Brandon | February 1, 2010 | Reply

    • the White House would be smart to get Healthcare done…then lay low until after 2010…before 2011……

      Comment by jamesb101 | February 1, 2010 | Reply

      • before 2012…..

        Comment by jamesb101 | February 1, 2010

  2. James B, at this point, I really don’t see Obama getting re-elected because of the backlash against the Democratic Party will be so bad this year, he will not be able to get anything done in the next 2 years (2011, 2012)-assuming the GOP takes the House (very likely) and Senate (unlikely).

    Comment by Conservative Democrat | February 1, 2010 | Reply

    • Read your History…..Clinton was in the same place…but came back…while the dem’t lost the House…and he had a trial going on which took him outta it…and he still rolled the Republican’s…..

      Obama’s a smart guy..he’ll be there for another seven years…..
      He’s gotta be talking to Clinton…and has started his re-election run as of last week……

      Freeze spending…..cut’s in the budget…..tax breaks for the moddle class….raise taxes for the rick…..go after the banks…..and wish for Healthcare but let Congress hash it out if they can……
      He hasn’t left the country in the last few weeks since he cvame back from vacation, right?

      He’s put Davud Plouffe back in charge of the political machine right?

      He’s running…..

      And he’ll make it….with Healtrhcare out of the headlines….hopfully his democratic congressmen can go home and not get chewed on….

      Comment by jamesb101 | February 1, 2010 | Reply

  3. One reflection on the first year is the say-on-thing-do-another tendency of leadership. Plouffe could instruct him to say jobs jobs jobs – but in the back of my head i still hear “aaaaaaand health care and energy and education”….

    Comment by talkandpolitics | February 2, 2010 | Reply

    • Obama is doing a delecate balancing act……on one hand he needs to get afew things done for the elft on the party that always gets screwed…on the other hand he needs to not have his butt showing so the GOP can chew on it…..

      He’s not doing traveling outside the country for a while DADT is in the news and he’ll try to do what he can w/o congress…..but I have alsways felt that if he doesn’t get soemtihning on Healthcare he in sense will have failed on something big……

      Clinton survived that same thing to go on to a second term….

      Obama can do likewise…..

      Comment by jamesb101 | February 2, 2010 | Reply


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