print“Obama signed a bill Friday reinstating budget rules known as ‘paygo’ — short for ‘pay as you go.'” (The Washington Examiner)
President Barack Obama said Saturday new budget rules that say spending cuts must accompany spending increases will force Congress to “pay for what it spends, just like everybody else.”
A list of the programs that are exempt is here..
This, after having just increased the debt ceiling from $12.4 trillion to $14.3 trillion.
The National Debt is $12.3 trillion! It increases an average of $3.85 billion per day in lieu of interest payments.
The federal budget deficit is “a $1.6 trillion deficit this year, $1.3 trillion next year, $8.5 trillion for the next 10 years combined.”
Not that this is what he’s promising, but if BHO never again spent another dime, the US would still never again run surpluses, not in my lifetime.
We could have a 50% across the board TAX INCREASE and it would barely balance the budget (only if you don’t count the decreased revenues caused by the tax increase!). Which is why calls for tax cuts are currently moronic. We need spending cuts and need them badly – phase out the Department of Education, Housing and Urban Development, Agribusiness subsidies – bring most of the 250,000 troops home – and we would still have a defecit of over $ 5000 per taxpayer just for this year. Bush and Obama so messed up the nation’s finances, it is hard to explain just how desparate the situation is. We are heading to a dollar bubble which will make the housing bubble look like a Sunday School picnic.
Why don’t we dust off our Constitution? It provides a roadmap for recovery. For starters:
– Revert to the original 4 cabinet agencies. The rest get eliminated.
– All troops come home. The Pentagon budget gets reduced by 75%.
– Auction off all federally owned land and buildings to the highest bidder.
– Slash pensions and benefits for the entire public sector. A parasite shouldn’t be bigger than the host.
– Repeal all legal tender laws.
– Eliminate all capital gains taxes.
– Make those receiving welfare of any kind ineligible to vote in the next election.
– Eliminate witholding.
– Repeal the 16th and 17th Amendments.
Whatever we do, the country is going to be in for a world of hurt very soon. Get ready.
Anything this clown does is phony. It’s all for show and designed to B S the public. Whatever he comes up with will not affect the disastrous course he and the Democrats have set for the country.