Obama to Propose $3.8 Trillion Budget

[red states rule]

The Dems spending spree continues, with no end in sight. I just heard the estimated deficit for this year - $1.3 Trillion

I remember how ems told the voters how it was Bush's reckless spending that got us in our current economy - (and Bush's highest deficit was $500 billion) how the hell will Obama's insane spending get us out?





President Obama is expected to send a $3.8 trillion budget to Congress on Monday for the coming fiscal year, according to The New York Times.

Obama's budget would increase financing for education and for civilian research programs by 6 percent and provide cash-strapped states $25 billion, the newspaper reported.

The proposal comes as the president seeks to impose a three-year spending freeze on domestic spending not related to national security or entitlement programs.

The budget proposes increases for programs at the National Institutes of Health, the National Science Foundation and the Energy Department, according to the newspaper.

The fiscal budget looks to cut projects of the Army Corps of Engineers and scrub NASA's plan to return astronauts to the moon.

National security, veterans programs, Medicare, Medicaid, and Social Security would be exempted from the cuts.

http://www.foxnews.com/politics/2010/01/30/report-obama-propose-trillion-budget/

[Jeff]

Red you must be a racist , if it isn't GW' s fault you must be a racist

And don't forget next year Obama will have a freeze on Government spending, he will save 15 Mill, :eek: Hmmm wonder who did the Math for him, who ever it was ought to be fired or impeached

[red states rule]

Gee, check this out. Obama increases spending for war

Wil the Obama dornes have anything to say besides it's Bush's fault?






War spending surges in President Obama's budget


President Barack Obama’s new budget, to be released Monday, forecasts two consecutive years of near $160 billion in war funding, far more than he hoped when elected and only modestly less than the last years of the Bush Administration.


In 2011 alone, the revised numbers are triple what the president included in his spending plan a year ago. And the strain shows itself in new deficit projections, already hobbled by lagging revenues due to the weak economy.

The administration appears to be projecting a deficit of near $1.6 trillion for the current year and $1.3 trillion in 2011. That is even more pessimistic than Congressional Budget Office estimates last week, and it’s only in 2012 that the projections drop to the range of $800 billion to $700 billion.

By the end of the decade, the gap again widens, and as a percentage of GDP, the average appears above the 3% target viewed as sustainable.

Read more: http://www.politico.com/news/stories/0110/32272.html#ixzz0eHzsmvyV

[red states rule]

Now check out the many tax increases Obama has in his budget - and hang on to your wallet




Obama budget would impose host of tax increases

snip

Some of Obama's other tax proposals would:

_Raise the top two income tax rates for individuals, from 33 percent and 35 percent, to 36 percent and 39.6 percent, respectively. Unless Congress intervenes, those rates will rise next Jan. 1 when Bush's tax cuts expire. That government would reap $365 billion over the next decade.

_Limit the itemized tax deductions high earners can claim for charitable donations, mortgage interest and state and local taxes, raising about $210 billion for the next decade.

_Increase the top capital gains tax rate from 15 percent to 20 percent for families making more than $250,000 a year and individuals making more than $200,000. The proposal would raise about $105 billion.

_Impose a "financial crisis responsibility fee" on large financial institutions, raising $90 billion over the next decade.

_Repeal a widely ignored law that taxes the personal use of company-issued cell phones like other fringe benefits, saving taxpayers $2.8 billion over 10 years.

_Restrict the ability of international companies to defer taxes on profits made overseas, raising about $26 billion over the next decade.

_Impose a total of about $39 billion in tax increases on oil, gas and coal companies over the next decade.

_Change the way profits made by investment fund managers are taxed, raising an additional $24 billion over the next decade.

http://www.breitbart.com/article.php?id=D9DJHOD08&show_article=1

[red states rule]

If my company - a mortgage service company - ran their business as Obama is running the governemnt - my employer would be getting these

Over-the-limit fees

Foreclosure

Judgments

and

Bankruptcy


Obama still thinks he can continue to get away with blaming Bush - even though he now owns the economy

[gabosaurus]

I agree there is too much reckless spending. Where are the cuts in the bloated military hierarchy? I was hoping for at least a 10 percent cut in military spending.

[HogTrash]

I'm terribly sorry everybody but I just had to repost this.

This pic was custom made for this thread. :clap: :thumb:

[red states rule]

I hate to toot my own horn - but "toot toot"

Remember how Obama promised not to raise taxes on the middle class - well forget about that folks

Here are the tax increases on working families that Obama wants in his budget




* Taxpayers who itemize will lose the option to deduct state sales-tax payments instead of state and local income taxes;

* The $250 teacher tax credit for classroom supplies;

* The tax deduction for up to $4,000 of college tuition and expenses;

* Individuals who don't itemize will no longer be able to increase their standard deduction by up to $1,000 for property taxes paid;

* The first $2,400 of unemployment benefits are taxable, in 2009 that amount was tax-free.

http://www.educationnews.org/feed/breaking_news/41664.txt

[red states rule]

Low taxes = Low unemployment?

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How will higher taxes lower the unemployment rate? Obama is determined ot find out at the expense of all of us