Obama aims to cut U.S. deficit in half by 2013 [Archive] - Debate Policy

View Full Version : Obama aims to cut U.S. deficit in half by 2013

5stringJeff

02-21-2009, 05:37 PM

So, in other words, Obama's deficit will be the same size as Bush's pre-bailout-measure deficit. Wow. Talk about fiscal responsibility.

Voting for either the GOP or Dems just means extending the national debt even more. Neither party will balance the budget.

--------------

Obama aims to cut U.S. deficit in half by 2013

By Ross Colvin

WASHINGTON (Reuters) - President Barack Obama wants to slash America's ballooning deficit in half by 2013 by cutting spending on the Iraq war, eliminating wasteful public programs and raising taxes on the wealthy, an administration official said on Saturday.

"The deficit this administration inherited was $1.3 trillion (907 billion pounds) or 9.2 percent of GDP. By 2013, the end of the president's first term, the budget cuts the deficit to $533 billion or 3.0 percent of GDP," the official said on condition of anonymity.

"Most of the savings will come from winding down the war in Iraq, increased (tax) revenue from those making more than $250,000 a year, and savings from making government work more efficiently and eliminating programs that do not work," the official said.

But this is my favorite part of the story:

Earlier on Saturday, Obama said he had ordered the U.S. Treasury to implement tax cuts for 95 percent of Americans, fulfilling a campaign pledge he hopes will help jolt the economy out of recession.

The tax cuts are part of the economic recovery plan passed by the Democratic-controlled Congress over Republican opposition. The aim is to put more money in the pockets of Americans and stimulate the economy by increasing consumer spending.

"I'm pleased to announce that this morning the Treasury Department began directing employers to reduce the amount of taxes withheld from paychecks, meaning that by April 1st, a typical family will begin taking home at least $65 more every month," Obama said in his weekly radio address.

http://uk.reuters.com/article/UKNews1/idUKTRE51K1P320090221

So now reducing the amount that the Treasury department withholds - even though that's already too much - is now considered a "tax cut?!?" How absolutely dishonest is that!!! :mad: Not that I ever expected Obama to deliver a tax cut, but to call a reduction in withholds a "tax cut" when your tax bill at the end of the year is still the same is absolute :bsflag:.

Screw you, Obama!! ::upyours:

Classact

02-21-2009, 08:00 PM

Psychoblues

02-23-2009, 06:25 AM

Why not, 5stringer?!?!?!?!??!?!?!?!?!?!?!?

:beer::cheers2::beer:

Psychoblues

Classact

02-23-2009, 06:44 AM

Why not, 5stringer?!?!?!?!??!?!?!?!?!?!?!?

:beer::cheers2::beer:

PsychobluesBecause you can't cut the Department of Defence that much... especially since we are at war in Afghanistan.

Psychoblues

02-23-2009, 06:46 AM

What century are you living in, ca?!?!?!?!?!?!??!?!?!?!?!

Because you can't cut the Department of Defence that much... especially since we are at war in Afghanistan.

:beer::cheers2::beer:

Psychoblues

Classact

02-23-2009, 06:52 AM

What century are you living in, ca?!?!?!?!?!?!??!?!?!?!?!

:beer::cheers2::beer:

PsychobluesSince we are both communicating... sort of... I'd say we are in the same century. The OK senator has listed twenty or thirty federeal agencies that the GAO has stated serve no purpose for the last several years and each time the Democratic Party ignores him and funds the programs. The only thing the Democratic Party will cut is DOD! DOD is not half of the federal budget so the budget can't be cut in half even if they closed the damned thing.

Psychoblues

02-23-2009, 06:54 AM

As you offer no substance I can offer no rebuttal.

Since we are both communicating... sort of... I'd say we are in the same century. The OK senator has listed twenty or thirty federeal agencies that the GAO has stated serve no purpose for the last several years and each time the Democratic Party ignores him and funds the programs. The only thing the Democratic Party will cut is DOD! DOD is not half of the federal budget so the budget can't be cut in half even if they closed the damned thing.

Silly you!!!!!!!!!!!!!!!!

:beer::cheers2::beer:

Psychoblues

Classact

02-23-2009, 06:58 AM

As you offer no substance I can offer no rebuttal.

Silly you!!!!!!!!!!!!!!!!

:beer::cheers2::beer:

Psychoblues
Try this http://coburn.senate.gov/public/index.cfm?FuseAction=WashingtonWasteOfWeek.Home and this http://coburn.senate.gov/public/index.cfm?FuseAction=LatestNews.PressReleases&ContentRecord_id=2ba28bf2-802a-23ad-4ac6-65ddbb603df2&Issue_id=

Psychoblues

02-23-2009, 07:01 AM

:lol: :lame2: :laugh2: :lol:

Been there and done that, cowgirl. I fail to see the connection!!!!!!!!!!!!!!

:beer::cheers2::beer:

Psychoblues

red states rule

02-23-2009, 07:04 AM

Wall Street hates, let me repeat hates uncertainty and congress hates cutting government programs, let me repeat that congress hates cutting government programs. I’ll give you odds that the DOW will lose major points if he announces he is raising taxes during a recession and I’ll give you odds that congress will fight kicking and screaming before cutting one single program… it’s put up or shut up time!

Since Obama won the election the Dow is down about 2,500 points. By raising the corporate income tax, the increase will be passed onto consumers, and/or people will be let go

Dems fail to grasp corporations do not pay taxes - we do one way or another

Classact

02-23-2009, 07:09 AM

:lol: :lame2: :laugh2: :lol:

Been there and done that, cowgirl. I fail to see the connection!!!!!!!!!!!!!!

:beer::cheers2::beer:

PsychobluesOK... Obama will raise tax on the rich that aren't making any profit to tax right now and he will go line by line to cut wasteful government programs... and, he will find offshore tax havens and close them down to restore physical responsibility... I repeat the only lines the Democratic Party will allow to be cut is DOD and they don't have a budget large enough to meet his goals. The tax the rich Robin Hood bs is just that, bs... The Swiss banks aren't going to play and if he fucks with those in the Virgin Islands they will hurt America more than any tax he recovers...

So please explain how he will cut spending! What do you think he will cut outside of Defence?

The only fucking thing he is going to accomplish is closeing down Star Wars, which we need since he is talking as Iran is building nukes... and some Navy/AF ships/planes... jobs... jobs... jobs...

Psychoblues

02-23-2009, 07:12 AM

red states rule

02-23-2009, 07:13 AM

OK... Obama will raise tax on the rich that aren't making any profit to tax right now and he will go line by line to cut wasteful government programs... and, he will find offshore tax havens and close them down to restore physical responsibility... I repeat the only lines the Democratic Party will allow to be cut is DOD and they don't have a budget large enough to meet his goals. The tax the rich Robin Hood bs is just that, bs... The Swiss banks aren't going to play and if he fucks with those in the Virgin Islands they will hurt America more than any tax he recovers...

So please explain how he will cut spending! What do you think he will cut outside of Defence?

The only fucking thing he is going to accomplish is closeing down Star Wars, which we need since he is talking as Iran is building nukes... and some Navy/AF ships/planes... jobs... jobs... jobs...

Talk is cheap my friends, Obma thinks he can BS his way through the Presidency as he did the campaign.

red states rule

02-23-2009, 07:14 AM

What's wrong with closing offshore tax havens, ca?!?!?!?!??!?!?!? The sonsobitches can kiss my American ass if it's all the same to you, ain't it?!?!?!?!??!?!?!?!?!?!??!

:beer::cheers2::beer:

Psychoblues

What is wrong with people using all leagal means possible to avoid taxes? At least they follow the law, unlike some Dems who just do not pay their "fair share" until they are offered a job by Obama

Classact

02-23-2009, 07:14 AM

What's wrong with closing offshore tax havens, ca?!?!?!?!??!?!?!? The sonsobitches can kiss my American ass if it's all the same to you, ain't it?!?!?!?!??!?!?!?!?!?!??!

:beer::cheers2::beer:

PsychobluesThe offshore tax havens are employers of Americans, fuck with them and make them pay more tax and they will pass on their pain to the employees or through the price of their product.

red states rule

02-23-2009, 07:15 AM

The offshore tax havens are employers of Americans, fuck with them and make them pay more tax and they will pass on their pain to the employees or through the price of their product.

Or fire people to reduce overhead. One way of another, the business will offset the higher cost of doing business

Classact

02-23-2009, 07:18 AM

red states rule

02-23-2009, 07:19 AM

Liberals don't get it... they think you should be punishing the one that feeds you. Kind of like a dog that bites its master to force him to buy better and more dog food.

If you want more of something sweeten the offer verses biting it. Lower taxes and more jobs will come to America... Don't get it do you? Because you live in Robin Hood's world where no one works.

What's scary, is that the talk is only about $500B deficits by 2013. We're talking about 1.5T deficit this year, probably similar in following years. Does anyone realized how screwed we all are?

$500B defiicits are what we all wanted to hang Bush for, and now we're going to congratulate 0bama for getting us back to 2007

Psychoblues

02-23-2009, 07:20 AM

Using offshore taxhavens to escape paying duly owed and expected federal revenue is the chickenshit and irresponsible way of dealing with obligations, isn't it, ca?!?!?!?!?!??!?!?!?!?!?!?!???!

The offshore tax havens are employers of Americans, fuck with them and make them pay more tax and they will pass on their pain to the employees or through the price of their product.

Perhaps you need to go to one of those offshore offices and run your game!!!!!!!!!!! This ol' cowboy ain't gonna play that one!!!!!!!!!!!!!!

Good luck!!!!!!!!!!!!!!!

:beer::cheers2::beer:

Psychoblues

red states rule

02-23-2009, 07:23 AM

Classact

02-23-2009, 07:25 AM

What's scary, is that the talk is only about $500B deficits by 2013. We're talking about 1.5T deficit this year, probably similar in following years. Does anyone realized how screwed we all are?

$500B defiicits are what we all wanted to hang Bush for, and now we're going to congratulate 0bama for getting us back to 2007It's fucking over!
Please kneel before the master and allow a moment of silence
http://www.strangepolitics.com/images/content/142594.jpg
As promised I’m finished with political debate as a result of liberal Republicans joining in with liberal Democrats to pass the Spendulus Bill. How appropriate they will do it on Friday the 13th.
http://media.townhall.com/Townhall/Car/b/2-11-09bus22220090212080236.jpg

I think the best we can hope for is that the economy will remain status quo rather than return to growth and prosperity. The stimulus package doesn’t have stimulus, or so little the added and saved jobs will merely prolong the pain. As the US economy falters so goes the world economies, what was the outcome the last time a world depression occurred? All major economies are dumping money into their economies just like we are leaving few to loan money to deficient nations. In the past the US dollar has been the benchmark for stability but with the debt we are mounting the only thing that will lure money into America will be high interest rates. With high interest rates on the US debt even higher interest rates will be applied to our citizens resulting in massive inflation. Within six or eight years an prices for all goods will double and the interest rates will triple as jobs start dropping away from the service sector at a rapid rate making our current situation look like the good old days. All of this will come due just as the unfunded mandates of Social Security comes due. Time to prepare for anarchy! Buy some of these and something to put them in…
http://www.forumammo.com/cpg/albums/userpics/10071/1152850097929.jpg
And buy some of these http://www.ecal.ch/research/projects/images/h411/534C1D3F1906a19738jxr40A10E9.jpg and plant one of these http://urbanprograms.osu.edu/urban-impacts/gardening/images/scarecrow-in-garden.jpg
Because all this trojan horse
http://media.townhall.com/Townhall/Car/b/aria09021320090212025408.jpg will cause inflation followed by this http://www.sluggerotoole.com/archives/First%20post%20shankill%20riots-thumb.jpg
Here is your preview of coming attractions
Center for American Progress Issues http://www.americanprogress.org/issues
Let’s all sing together now
Imagine there's no heaven
It's easy if you try
No hell below us
Above us only sky
Imagine all the people
Living for today...

Imagine there's no countries
It isn't hard to do
Nothing to kill or die for
And no religion too
Imagine all the people
Living life in peace...

You may say I'm a dreamer
But I'm not the only one
I hope someday you'll join us
And the world will be as one

Imagine no possessions
I wonder if you can
No need for greed or hunger
A brotherhood of man
Imagine all the people
Sharing all the world...

You may say I'm a dreamer
But I'm not the only one
I hope someday you'll join us
And the world will live as one

Be ready for the revolution!

red states rule

02-23-2009, 07:27 AM

The Dow was at 9265 on November 4, 2008. It's has dropped 2260 points since Obama was elected.

Once he was elected, nobody had to wait until he actually took office to know that his liberal policies were going to be a disaster.

PostmodernProphet

02-23-2009, 07:28 AM

The offshore tax havens are employers of Americans, fuck with them and make them pay more tax and they will pass on their pain to the employees or through the price of their product.

well actually no they aren't.....if the money came back here to pay an American it wouldn't actually be an offshore tax haven......in order to have the cash here to spend on wages they would have to bring it into the US as dividends and pay taxes on it......

Classact

02-23-2009, 07:31 AM

Using offshore taxhavens to escape paying duly owed and expected federal revenue is the chickenshit and irresponsible way of dealing with obligations, isn't it, ca?!?!?!?!?!??!?!?!?!?!?!?!???!

Perhaps you need to go to one of those offshore offices and run your game!!!!!!!!!!! This ol' cowboy ain't gonna play that one!!!!!!!!!!!!!!

Good luck!!!!!!!!!!!!!!!

:beer::cheers2::beer:

PsychobluesOnly 5% of Americans pay most of the tax ... and you think it is their obligation to fund all the BS people of color home funding too! This American problem is based on people of color being propped up by the Democratic Party and now you want to bite the master on the leg for more dog food! Worthless fucking people living on the sweat of producers are worthless and too damned big to even use for door stops... fuck them let them learn how to compete or starve and die out under natural selection.

PostmodernProphet

02-23-2009, 07:32 AM

Obama aims to cut U.S. deficit in half by 2013

which deficit is he going to cut in half....the last year of the Bush administration or the one that's three times larger, the first year of the Obama administration.......it it's the latter, then he will finish his term with a deficit half again larger than Bush's average.........

Classact

02-23-2009, 07:32 AM

well actually no they aren't.....if the money came back here to pay an American it wouldn't actually be an offshore tax haven......in order to have the cash here to spend on wages they would have to bring it into the US as dividends and pay taxes on it......Who uses offshore tax havens and how do they protect you from paying taxes?

red states rule

02-23-2009, 07:34 AM

Only 5% of Americans pay most of the tax ... and you think it is their obligation to fund all the BS people of color home funding too! This American problem is based on people of color being propped up by the Democratic Party and now you want to bite the master on the leg for more dog food! Worthless fucking people living on the sweat of producers are worthless and too damned big to even use for door stops... fuck them let them learn how to compete or starve and die out under natural selection.

The top 1% of earners pay 40% of all Federal Income taxes

The botom 50% pay less then 3%

40% of workers pay ZERO Federal incomes taxes

Yet Obama and the Dems want to soak those who are already paying a majoirty of income taxes for even more

Psychoblues

02-23-2009, 07:34 AM

You expose yourself all too clearly, ca.

Only 5% of Americans pay most of the tax ... and you think it is their obligation to fund all the BS people of color home funding too! This American problem is based on people of color being propped up by the Democratic Party and now you want to bite the master on the leg for more dog food! Worthless fucking people living on the sweat of producers are worthless and too damned big to even use for door stops... fuck them let them learn how to compete or starve and die out under natural selection.

Kiss this: :pee: ca

:beer::cheers2::beer:

Psychoblues

PostmodernProphet

02-23-2009, 07:36 AM

Who uses offshore tax havens and how do they protect you from paying taxes?

they protect you from paying taxes because the income earned is not earned in the US....so long as the money stays OUTSIDE the US, it is untouchable......bring it INTO the US and it is taxable....therefore, none of that money will ever pay a US worker......

red states rule

02-23-2009, 07:38 AM

You expose yourself all too clearly, ca.

Kiss this: :pee: ca

:beer::cheers2::beer:

Psychoblues

Workers get $33/month in a tax credit (which decreases next year) - yet a mouse in Pelosi's state gets $20 million

Liberals are showing who they really care about

Classact

02-23-2009, 07:40 AM

You expose yourself all too clearly, ca.

Kiss this: :pee: ca

:beer::cheers2::beer:

PsychobluesThere seem to be two categories of people producers and consumers ... assets and debits... you want to make the producers the bad guy because he isn't generous enough while he is in fact an asset... and you want him to prop up what appears to be a majority of lazy assed group of people of color ... tax the producer more and give people of color special rates for house loans, hey a bounus if they actually pay their payments!!! ACORN will go on strike if we don't kiss people of colors ass and keep them happy... maybe ACORN will bite our leg if we don't buy really top brand offering for our people of color real soon! I do not pre judge... I judge based on merit and people of color caused this recession so fuck off!

Psychoblues

02-23-2009, 07:41 AM

That's a cool, if not shallow, explanation, pimp!!!!!!!!!!!!

they protect you from paying taxes because the income earned is not earned in the US....so long as the money stays OUTSIDE the US, it is untouchable......bring it INTO the US and it is taxable....therefore, none of that money will ever pay a US worker......

Kudos deserved!!!!!!!!!!!!!!!!!

:beer::cheers2::beer:

Psychoblues

Classact

02-23-2009, 07:44 AM

That's a cool, if not shallow, explanation, pimp!!!!!!!!!!!!

Kudos deserved!!!!!!!!!!!!!!!!!

:beer::cheers2::beer:

PsychobluesPlease explain how I can get into this offshore deal? Who does it protect from paying taxes and how?

PostmodernProphet

02-23-2009, 07:47 AM

Please explain how I can get into this offshore deal? Who does it protect from paying taxes and how?

It's quite simple actually......you open up a bank account in a country that does not charge taxes on interest income and you deposit your money into it......so long as you never bring that money back into the US you never pay taxes on it.....of course, it isn't very convenient for anyone who expects they might want to spend their money in the US someday, since you would have to pay all the taxes you saved if you ever did........

Classact

02-23-2009, 07:54 AM

It's quite simple actually......you open up a bank account in a country that does not charge taxes on interest income and you deposit your money into it......so long as you never bring that money back into the US you never pay taxes on it.....of course, it isn't very convenient for anyone who expects they might want to spend their money in the US someday, since you would have to pay all the taxes you saved if you ever did........Why wouldn't the same people buy tax exempt state bonds? Why wouldn't they put their money in other tax free bonds or buy federal debt and earn more money than they save by having it off shore?

I don't get your explanation... If I have too much money in my savings account then I have to pay capitol gains taxes on the gains... if that were true then I would buy tax free bonds.

Psychoblues

02-23-2009, 07:56 AM

Your stupidity is maybe the fault of your parents, ca.

Please explain how I can get into this offshore deal? Who does it protect from paying taxes and how?

Get an accountant to spell it out for you in a plain language that you can understand. Obviously you have a problem with English.

:beer::cheers2::beer:

Psychoblues

red states rule

02-23-2009, 07:59 AM

Your stupidity is maybe the fault of your parents, ca.

Get an accountant to spell it out for you in a plain language that you can understand. Obviously you have a problem with English.

:beer::cheers2::beer:

Psychoblues

CA, this is when you know you have humilated and beaten PB into submission

Not hard to do, but this is his his way of telling you he has nothing to counter with

PostmodernProphet

02-23-2009, 08:00 AM

Why wouldn't the same people buy tax exempt state bonds? Why wouldn't they put their money in other tax free bonds or buy federal debt and earn more money than they save by having it off shore?

I don't get your explanation... If I have too much money in my savings account then I have to pay capitol gains taxes on the gains... if that were true then I would buy tax free bonds.

first of all....if you are paying capital gains taxes on your savings account you need a better accountant.....

and you can earn a whole lot more interest on a CD in a Dubai bank than you can from municipal funds in the US......

Psychoblues

02-23-2009, 08:04 AM

Jesus Christ!!!!!!!!!!! Are you and rsr going to break down and cry about it?!?!??!?!?!?!?!?!?!??!??!

first of all....if you are paying capital gains taxes on your savings account you need a better accountant.....

and you can earn a whole lot more interest on a CD in a Dubai bank than you can from municipal funds in the US......

Not surprising!!!!!!!!!!!!!!

:beer::cheers2::beer:

Psychoblues

Classact

02-23-2009, 08:05 AM

Your stupidity is maybe the fault of your parents, ca.

Get an accountant to spell it out for you in a plain language that you can understand. Obviously you have a problem with English.

:beer::cheers2::beer:

PsychobluesOK you want to use insults dumbass I'll do your work for you since you are full of nutrient depleated food stuffs http://en.wikipedia.org/wiki/Tax_haven

If the US has a problem with people or business that uses this method perhaps they should look at the US government as the problem? I offer Ireland as a nation that did that and improved business within their nations by not biting the master.

Classact

02-23-2009, 08:09 AM

It's quite simple actually......you open up a bank account in a country that does not charge taxes on interest income and you deposit your money into it......so long as you never bring that money back into the US you never pay taxes on it.....of course, it isn't very convenient for anyone who expects they might want to spend their money in the US someday, since you would have to pay all the taxes you saved if you ever did........Obama wants to tax the business that do this and this will not reward the budget. Business will either move to another nation, reduce employment or raise prices of the product to offset the additional taxes... it serves no purpose to bother these business folks since they are neutral and only interested in "profit"... no profit no job...no profit because of high tax higher price for product and inflation.

PostmodernProphet

02-23-2009, 08:10 AM

If the US has a problem with people or business that uses this method perhaps they should look at the US government as the problem? I offer Ireland as a nation that did that and improved business within their nations by not biting the master.

indeed....I have suggested on other threads that if we really want to get the US economy working again we should have a tax holiday and let all that overseas money come back here free and put it to work.....

Psychoblues

02-23-2009, 08:12 AM

:lol: :laugh2: :lame2: :lol:

'Zat gonna be your excuse, ca?!?!?!??!?!?!?!?!?!?!?!?!

I didn't expect anything intelligent from you!!!!!!!!!!!!!!!!!

:beer::cheers2::beer:

Psychoblues

PostmodernProphet

02-23-2009, 08:13 AM

Obama wants to tax the business that do this and this will not reward the budget.

he simply won't be able to......if a Mexican corporation owned by a US corporation makes a billion dollars and keeps it in a Mexican bank account, paying no dividends to the US corporation that owns it, then the taxes are due to Mexico, not the US.....there is no way to tax it unless the Mexican corporation pays a dividend....that's why our auto industry is on the ropes now.....they can't bring any of the money they are earning overseas into the US.......

Psychoblues

02-23-2009, 08:22 AM

I'll never forget the words of then Ford CEO Jacque Nasser in 1984 as he announced the movement of the Ford Escort plant to Brazil.

he simply won't be able to......if a Mexican corporation owned by a US corporation makes a billion dollars and keeps it in a Mexican bank account, paying no dividends to the US corporation that owns it, then the taxes are due to Mexico, not the US.....there is no way to tax it unless the Mexican corporation pays a dividend....that's why our auto industry is on the ropes now.....they can't bring any of the money they are earning overseas into the US.......

He said as an answer to the reporter exclaiming relief to his statement of savings from the move, "We are under no obligation to reduce the retail price of our product, we are simply rewarding our shareholders." That one statement spoke volumes to me. Et tu?!?!?!??!?!!??!

:beer::cheers2::beer:

Psychoblues

red states rule

02-23-2009, 09:22 AM

http://rightwingnews.com/graphics/welcomebackcarter.jpg

Classact

02-23-2009, 11:29 AM

:lol: :laugh2: :lame2: :lol:

'Zat gonna be your excuse, ca?!?!?!??!?!?!?!?!?!?!?!?!

I didn't expect anything intelligent from you!!!!!!!!!!!!!!!!!

:beer::cheers2::beer:

PsychobluesDo you have anything to offer other than insults? How do you think Obama will cut by 50%? Do you think taxing is the answer? Do you think ending offshore tax evasion is the answer? Do you think he will actullay cut anything in the US federal budget outside of DOD? How does ending the War in Iraq aid in his 50% cut since it never has been charged to the budget in the first damned place? OK answer man/woman your turn...

red states rule

02-24-2009, 07:47 AM

Even IF Obama was serious, he has to deal with Pelosi and Reid. They can, and will, roll the raw rookie, and they will keep the pork flowing

http://www.strangepolitics.com/images/content/147598.jpg