Budget Forecasts Bigger 2011 Deficit

[red states rule]

Let the Beg-A-Thon begin. No matter what the Republicans want to cut, the Dems and liberal meida will parade out the "victims" of those cuts

It does not matter how big the deficit is, the only answer the left wil offer up is higher taxes on the producers and more redistribution of wealth

I do hope some on the right have the guts to address entitlements which must be cut





President Barack Obama's 2012 budget proposal projects this year's deficit will reach $1.6 trillion, the largest on record, as December's tax-cut deal begins to reduce federal revenues, a senior Democrat said Sunday.

The new forecast is larger than the $1.48 trillion deficit projected last month by the Congressional Budget Office, Congress's nonpartisan scorekeeper, and up from last year's $1.3 trillion shortfall. The tax deal extended tax cuts enacted during the Bush administration while adding others, such as a temporary cut to the payroll tax.

The prospect of a record deficit is likely to intensify the debate over federal spending and cost controls, which has gripped Washington in recent weeks. Conservative Republicans, many elected with tea-party support, are demanding deep budget cuts for the current fiscal year, which ends Sept. 30.

For now, Mr. Obama and the Republicans are choosing to clash over a narrow slice of federal spending—the 15% devoted to discretionary programs unrelated to security and defense—while the entitlement programs that are driving projected federal deficits remain unaddressed by either party.

Mr. Obama's budget, to be released Monday, calls for spending cuts and tax hikes that would slice about 14% of the approximately $8 trillion in cumulative federal deficits that would occur over the next 10 years without action being taken. It estimates the deficit will fall to $1.1 trillion next year as the economy picks up and the president's proposed spending freeze begins to have effect.

White House officials described the plan as a "down payment" on future deficit reduction. Both political parties are feeling a push from some lawmakers to address spending on Social Security, Medicare and other entitlement programs, which are becoming the largest drivers of the deficit. But both are fearful of proposing changes to popular programs without assurances that the other party will join in the talks.

http://online.wsj.com/article/SB10001424052748704657104576142122744337858.html

[actsnoblemartin]

I could see it now, like a kpbs telethon

for the 1 billion presidential level

:laugh:



Let the Beg-A-Thon begin. No matter what the Republicans want to cut, the Dems and liberal meida will parade out the "victims" of those cuts

It does not matter how big the deficit is, the only answer the left wil offer up is higher taxes on the producers and more redistribution of wealth

I do hope some on the right have the guts to address entitlements which must be cut

[red states rule]

So it begins




America's budget deficit is enormous. In fiscal 2010, it was $1.3 trillion, and government spending increased nine percent. But on Sunday's State of the Union program on CNN, anchor Candy Crowley pressed Obama's budget director Jack Lew from the left. The only question was who's going to be victimized by spending cuts: "So let's get down to the basic question, who's going to get hurt in this budget?"

Lew claimed "The budget saves $1.1 trillion over the next 10 years in domestic spending. It reduces, as you said in your introduction, $400 billion, which would bring us down to the smallest government as a size of the economy since Eisenhower was president." Team Obama's trying to sound like they're economizers, which is ludicrous. But Crowley could only retort: "At what cost?" Lew claimed the Obama budget has "scores of programs that are being reduced." Crowley could only keep suggesting they were heartless:

CROWLEY: So you have said in an editorial you wrote that the budget is an expression of our values and aspirations. So if I look at this what we call discretionary spending, things we don't have to spend on, you want to cut back community development block programs. That creates jobs in communities; it helps them with infrastructure, that kind of thing. Home heating assistance; education, as you just mentioned. You're also going to do -- the Great Lakes Restoration Fund Initiative is getting a pretty healthy cut in what they get from the feds, eight states involved, in trying to keep the Great Lakes economically viable. What does that say about our values and aspirations?

LEW: Well, what it says, Candy, is that we really do have to do what every American family does; we have to start living within our means.

Crowley's questioning implied that no one's "going to get hurt" if spending balloons without restraint -- and that government "investment" in infrastructure or industrial policy is unquestionably effective. She started lecturing Lew about how cuts will ruin education:



Read more: http://www.newsbusters.org/blogs/tim-graham/2011/02/13/cnn-anchor-candy-crowleys-basic-budget-question-whos-going-get-hurt#ixzz1DvLcM1p0

[fj1200]

So it begins


... which would bring us down to the smallest government as a size of the economy since Eisenhower was president.

Read more: http://www.newsbusters.org/blogs/tim...#ixzz1DvLcM1p0


The only real response to that statement should have been "WTF? got a link?"

[red states rule]

The only real response to that statement should have been "WTF? got a link?"

It came from an Obama administration spokesmen so no link or proof is needed

This from the same people who gave us millions of saved and created jobs; worst economy since the great Depression, and save the nation from another Depression, we are spending this money to avoid going bankrupt, ect, ect

Get the picture?

[actsnoblemartin]

I got the picture, painted bullshit on a canvas :laugh2: