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Here's a wrap up of responses to President Obama's budget proposal out today. (For some details on the budget, see First Thoughts.)
REPUBLICANS
Speaker John Boehner (R-OH):
"The president's budget will destroy jobs by spending too much, taxing too much, and borrowing too much. By continuing the spending binge and imposing massive tax hikes on families and small businesses, it will fuel more economic uncertainty and make it harder to create new jobs.
"The president's budget isn't winning the future, it's spending the future. A group of 150 American economists signed a statement sent to the White House yesterday that says we need to cut spending to help create a better environment for job creation in our country. Our goal is to listen to the American people and liberate our economy from the shackles of debt, over-taxation, and big government. That's why the new House majority will vote this week to cut $100 billion in discretionary spending over the next seven months - with more cuts to come - in contrast to the Obama administration, which has proposed no cuts to the current fiscal year's budget while simultaneously asking for an increase in the national debt limit. And in the coming weeks, Budget Chairman Paul Ryan will offer a comprehensive budget for the next fiscal year that will contrast sharply with the president's job-crushing FY12 budget."
Majority Leader Eric Cantor (R-VA):
"President Obama says he wants to win the future, but the future will not be won by repeating the mistakes of the past and failing to live up to our responsibilities in the present. The future will be won by bold and honest leadership that addresses our challenges head on.
"Today, the President missed a unique opportunity to provide real leadership by offering a budget that fails to address the grave fiscal situation facing our country. At a time when unemployment is too high and economic growth is elusive in part because of the uncertainty created by our skyrocketing debt, we need serious reforms that will help restore confidence so that people can get back to work. We need a government that finally does what every other American has to do in their households and their businesses, and that's to live within our means. Instead, President Obama's budget doubles down on the bad habits of the past four years by calling for more taxes, spending and borrowing of money that we simply do not have.
"President Obama has used tough rhetoric about the need to get our fiscal house in order, even assembling a bipartisan commission to address entitlement spending which accounts for more than half of our federal budget including Social Security, Medicare and Medicaid. Unfortunately, the President again failed to put action behind his words by neglecting to even acknowledge these tough issues that everyone knows drive up our debt and must be reformed if they are to meet their obligations for younger Americans.
"As our government continues to borrow forty cents of every dollar that it spends, our Democrat colleagues have offered no credible plan to get Americans back to work or seriously address our debt. In contrast, House Republicans are fully committed to using every tool at our disposal so that we can boost long-term economic confidence and help businesses to grow. And this week we will cut at least $100 billion of wasteful spending, a first step toward getting our fiscal house in order.
"For years, Democrats have proposed more government spending to create jobs, resulting in the largest debt and deficits in history while unemployment remains too high. Republicans believe in free markets and the ability for small businesses and entrepreneurs to keep more of their own money so they can invest, grow their companies and hire employees. This is the difference, and it will be clearly evident in the coming weeks as Chairman Paul Ryan and House Republicans introduce our own budget, one that addresses the challenges we face so that our children have the same hope, opportunity, and ability to achieve that our parents gave to us and their parents to them."
House Budget Chair Paul Ryan:
"The President's budget spends too much, taxes too much, and borrows too much - stifling job growth today and leaving our children with a diminished future. In this critical test of leadership, the President has failed to tackle the urgent fiscal and economic threats before us."
"Failing to heed the warnings of economists and the demands of the American people, the President's budget accelerates our country down the path to bankruptcy. Far from 'living within its means,' the President's budget puts the government on track to nearly double in size since the day he took office - a direct result of his party's reckless spending spree. His budget destroys jobs by imposing a $1.6 trillion tax hike, adding $13 trillion to the national debt and fueling uncertainty in the private sector.
"We cannot tax, spend and borrow our way to prosperity. Where the President has fallen short, Republicans will work to chart a new course - advancing a path to prosperity by cutting spending, keeping taxes low, reforming government, and rising to meet the challenges of our time."
Republican Study Committee Chairman Rep. Jim Jordan (R-OH):
"Thanks to House conservatives, the spending culture in Congress is beginning to change. The White House still hasn't gotten the message, however. Even as Americans are looking for Washington to cut back, President Obama wants to burden families and employers with higher taxes, more spending, and more debt.
"The President failed a crucial test of leadership by ignoring the need for reforms that will preserve Medicare and Social Security for future generations. These safety-net programs are in serious trouble without significant reforms, yet this budget has nothing to say about the problem.
"House Republicans are working to reduce spending and put the country's budget back on the path to balance. Americans know that prosperity does not spring from government's power to tax, borrow, and spend. We need to rein in Washington's massive spending deficits and give American job-creators the freedom to grow once again."
Sen. Bob Corker:
"The president has missed an opportunity to show real leadership on the number one issue threatening our country's future. Getting spending under control and reducing our deficit will be difficult without presidential leadership. I hope in the coming weeks he will come to the table in a meaningful way to address these issues," said Corker. "As we approach our debt limit of $14.29 trillion, I see no better time to impose a fiscal straitjacket on Washington. We need to vote on and pass spending cuts this year, and we need to pass the CAP Act Senator McCaskill and I have offered to force Congress to dramatically cut spending over 10 years. By capping spending - discretionary and mandatory - to a declining percentage of GDP, we would put our country on a path to fiscal sanity, while incentivizing Congress to pass policies that promote economic growth."
The Commitment to American Prosperity Act, the "CAP Act," would:
(1) Put in place a 10-year glide path to cap all spending - discretionary and mandatory - to a declining percentage of the country's gross domestic product, eventually bringing spending down from the current level, 24.7 percent of GDP, to the 40-year historical level of 20.6 percent, and
(2) If Congress fails to meet the annual cap, require the Office of Management and Budget to make evenly distributed, simultaneous cuts throughout the federal budget to bring spending down to the pre-determined level. Only a two-thirds vote in both houses of Congress could override the binding cap, and
(3) For the first time, eliminate the deceptive "off-budget" distinction for Social Security - providing a complete and accurate assessment of all federal spending.
The Corker-McCaskill CAP Act is currently cosponsored by Senators Lamar Alexander (R-Tenn.), Richard Burr (R-N.C.), Saxby Chambliss (R-Ga.), Mike Crapo (R-Idaho), Jim Inhofe (R-Okla.), Johnny Isakson (R-Ga.), Mark Kirk (R-Ill.), Jon Kyl (R-Ariz.) and John McCain (R-Ariz.).
Sen. John Cornyn (R-TX):
"President Obama's timid budget proposal represents a missed opportunity to lead. It increases the national debt by nearly $11 trillion, raises taxes, and ignores the recommendations of the President's own bipartisan debt commission. Republicans are ready to show we are serious about making these tough choices and getting the boot off the neck of American entrepreneurs and small businesses."
NBC's Shawna Thomas reports that Rep. Scott Garrett (R-NJ), vice chair of Budget committee, this morning made brief remarks that set up the GOP's prepared response to the budget with the line that it's "a budget that unfortunately spends a little bit too much, taxes too much and borrows too much again." House Budget Chairman Ryan and Senate Budget Committee ranking member Jeff Sessions (R-AL) will hold a presser this afternoon on the budget.
"In the preview of what we've seen so far it is a continuation of a, as our chairman has said, a budget that unfortunately spends a little bit too much, taxes too much and borrows too much again," Garrett said. "The President has indicated to us that it's imperative that we sign the raising of the debt limit but at the same time we look at this budget and we see that the debt of the federal government continues to grow at outstanding rates and he's going... to ask us to do so again."
When asked if he sensed there would be any common ground between the GOP and the president on this budget, Garrett couldn't seem to find any this morning.
"Well he, he says that he wants to work with us to begin reigning in spending," Garrett said. "Most of what we have seen as far as preliminary numbers go in exactly the opposite direction. Most of what we've seen is that the actual amount of borrowing will be going, as I said before, in an increased direction and that's why you're actually seeing a doubling of the debt since the time this administration came into office. On the tax side of the equation, the president said he wanted to work with us, basically to place less of a burden on the American taxpayers. But we see here again that it goes in the opposite direction about $1.5 trillion increase in the opposite direction, in that direction, as well. And he also said he wanted to care, as you said, for our future generations, our children and our grandchildren, but this is just going to place even our heaviest burden on them as well. So we're more than happy, I think all of us on our side of the aisle to reach a hand out to the administration to work where we can but there is very little that we see in this so far that there's commonality on spending."
DEMOCRATS
Minority Whip Steny H. Hoyer (D-MD):
"Today, President Obama released his proposed Fiscal Year 2012 budget. The president's budget makes the tough choices we need to reduce spending and put our nation's fiscal house in order; in fact, it would reduce our deficit by $1.1 trillion over the next decade. At the same time, however, the budget identifies those investments we need to grow our economy and create jobs-investments in out-building, out-innovating, and out-educating competitors around the world. President Obama's priorities-protecting our fiscal future while investing in growth-stand in strong contrast to the priorities of Republicans. Their spending bill for the rest of this fiscal year would make indiscriminate and short-sighted cuts to the investments our economy needs to stay competitive. I hope that Republicans will, instead, work with President Obama to reduce our deficit without sacrificing America's competitive edge."
Budget Committee ranking member Chris Van Hollen (D-MD):
"The President has put forth a budget that reduces our deficit, while also investing in our future. Two years after the President inherited the worst economic crisis since the Great Depression and a structural deficit that came from years of fiscal irresponsibility, we have made progress. But we must do more to invest in job creation and economic growth in the short-term, as well as get our nation on a long-term, responsible path to fiscal sustainability. This budget makes an important step towards both those goals.
"There is no question President Obama has made some tough decisions. But this budget also keeps in mind that we need to make smart choices that will create more jobs, lift up middle-class families, and keep our economy growing. While I don't agree with everything in this budget, it is a responsible place to start. It prioritizes national investments that will help our economy continue to recover and keep America competitive, focusing on important investments in things like infrastructure, education, and research. It also extends tax cuts for the middle class, while rejecting tax breaks for the wealthiest 2 percent. And it represents an important down payment on getting our fiscal house in order.
"The President's budget stands in sharp contrast to the House Republicans' proposed funding bill for the remainder of the year. We need to get serious about debts and deficits in this country - but while Democrats propose smart, precise cuts, the GOP wants to blindly slash in the short-term and has no plan for long-term fiscal sustainability. The President's budget is a responsible proposal that will help America move forward, while the reckless Republican bill will cost jobs and hurt the economy."
Leave a Comment:
Let's face it folks, both sides lie and deceive the American people. 100 million dollars planned for the Smithsonian addition - Hey - we're broke Barack! We need that like Elton John needs a girlfriend! Dennis Kucinich is interviewed today and tried to drive home the point that investments create jobs - oh yeah Dennis, like the Stimulus plan of two years ago in which unemployment was to be below 8%, and Boehner, who speaks for the Republicans, if he thinks for one minute he can support a GOP budget plan to offset Obama's then he should shut up and do it, and it should include the Finance Committee's proposals inclusive of entitlements. They are all ham bones and until we, the american people figure out they are crooks, we'll continue to be deceived!
Looks to me like the President played this one pretty well. The President has waded to the middle of the 'spending cut' stream and is waiting for the opposition to meet him there. The President has offered some serious cuts but they are only half what the debt commission suggested. And the President did not touch entitlements so that the opposition can cut those, which allows the opposition to play to their base.
Looks like the Republican/Tea Party/conservative opposition is going to have to wade out to meet the President. If the opposition tries to keep their shoes dry then they are going to lose this one big time. No, no, no won't pass water this time. Funny thing is that now both the President and the opposition are going to have to swim together or drown together. So both sides are going to need each other.
Yep, the President played this one pretty well.
Let me understand something,We gave the rich tax relief for two more yrs.Obama wants to cut fuel assistance to the poor by $2.5 BILLION but the Party of No thinks that's not enough.
Has any Republican congressman got a better idea? If so why don't they put it in writing. So far, all I have heard from them are negative criticisms. Do they know nothing but cut taxes?
Our country has a serious problem and finger pointing wont solve the problem. We all, even the rich need to make some sacrifices. But we all want clean air and water while we get back on track. All of our military spending is not providing security. We are creating more terrorists in Afghanistan than we eliminate.
Obama's plan is a joke. Even reductions in spending in all areas of Gov, NO LOOPHOLES OBAMA. Back step the Gove to 2007 level. Repeal the Obama care nightmare. Universal Care, one payer system. 100% coverage for all. Teeth to stop the illegals from sucking our system dry. Stop and reverse the boarder invasion.... No jobs for American why in the heck are we allowing the illegals/green carders to get job.
LOL, Hypocrites are a dime a dozen on this blog. "and Waiting" LOL. Jobs have been promised for 3 years by Obama, and guess what, Nothing. UE under 8% guaranteed, just let me pay off my buddies first. LOL
We are in a depression, it will not be easy to get out of.
Corp tax rates, just like personal tax rates need to have minimum levels where no loopholes will apply. IE. Personal tax rate at 15% which can be lowered to 10% if you contributed to Local non profits etc.
Same thing for Corp tax rates 20%, that can be lowered to 10% through job creation or green energy development etc. The %'s I used, are for example purposes only.
If every one paid their fair share we would destroy this deficit in no time. With the smaller loopholes for corp America their influence in Washington would be diminished as well.
I believe we badly need a truth in taxation policy implemented. Wow could you imagine that, we would actually know the who/what/where/why and when of our tax dollars. No more bait and switches, no more borrowing from Peter to pay Paul, no more smoke and mirrors taxation policies.
Just some thoughts from an independent mind. Go Tim Pawlenty in 2012
Glad to see the majority of posters here are pro-Obama. Nice to see the quiet supporters speaking up when it counts.
Had expected to see a lot of angry Obama haters with weak arguments and empty words concerning the budget. Good to see that although they rant the loudest and longest, they are in the minority today.
At some point americans have made enough money
Now I will spend what we dont and wont ever have?
King OBAMA
It is good to see the majority of posters here support the President.
I expected to read pages of empty words from angry Republicans who had not even looked at the budget yet, so it is encouraging to see that the pro-Obama camp is out in force.
Another proof that although the screamers make the most noise, the quiet majority speaks up when it counts the most.
LOL, Hypocrites are a dime a dozen on this blog. We are in a depression, it will not be easy to get out of. Obama and his budget are a joke. Over 10 years, Hello we need help NOW!!!!!!!!!!!!!
Corp tax rates, just like personal tax rates need to have minimum levels where no loopholes will apply. IE. Personal tax rate at 15% which can be lowered to 10% if you contributed to Local non profits etc.
Same thing for Corp tax rates 20%, that can be lowered to 10% through job creation or green energy development etc. The %'s I used, are for example purposes only.
If every one paid their fair share we would destroy this deficit in no time. With the smaller loopholes for corp America their influence in Washington would be diminished as well.
I believe we badly need a truth in taxation policy implemented. Wow could you imagine that, we would actually know the who/what/where/why and when of our tax dollars. No more bait and switches, no more borrowing from Peter to pay Paul, no more smoke and mirrors taxation policies.
Just some thoughts from an independent mind. Go Tim Pawlenty in 2012
Sigh. Another angry screamer with empty words and figures.
(Readers, please note the multiple exclamation points. This normally denotes a weak argument.)
Talk about puttin lipstick on a pig and calling it a prom queen. Good God! If I was walking down the street and dropped ten one dollar bills out of my pocket which were blown away by the wind and scattered. Then after much effort and searching found 4 of the 10, I would have gained 4 dollars back. But I would still be out 6. Get it?
The Republican Party has been doing Wealth Distribution since Reagan. They have been out to break the back of the middle class and they have almost accomplished their goal. We, the people, need to organize and demonstrate in Washington D.C. and demand our representatives start representing us and not just the wealthy and the corporations. Why is it the people who have benefited the most are the last ones asked to sacrifice? The peple are looking at Austerity and the wealthy are getting jumbo, bonus tax cuts, WHY?" Folks, we can not trust the Big Spending Republicans any more.....(SEE GRAPH)
http://www.lafn.org/gvdc/Natl_Debt_Chart.html
Dude, I really didn't know Obamer was a Republican! Learn somethin new ever day roun here!
There is a wide open contest to run against President Obama and Boehner is doing everything he can for his high-dollar cronies in his district. Boehner and House Republicans appear to have included an earmark-in-all-but-name for the new Speaker’s district in the newly released House Appropriations Continuing Resolution (CR). The CR includes massive cuts to important programs like Head Start and LIHEAP, but one thing it doesn’t cut is $450 million stashed away for the construction of a Joint Strike Fighter engine the Pentagon doesn’t even want. This pulled from national headlines, proof positive there are lives at stake with the Republican Roght and the TEA sippers. General Electric and Rolls Royce will benefit tremendously in Boehners district. It now appears that Boehner is funneling money to his own district in an earmark-in-all-but-name may be part of the reason for that. This from the leader trying cut 100 billion from the deficit, but not from his district.
Only positive way to decrease our debt. Give these agencies their reduced budget and tell them to go figure.
What Obama proposes is about 10% of what the Republicans, in their infinite wisdom, have proposed. It still might not be enough. Obama's proposal is a non-starter. He doesn't want to offend his entitlement-mentality base. He had a chance to finally be a leader and make a real difference, but....No. He caved in to the politically expedient, liberal, bumper sticker mindset. Just what I expected, and, just the sort of non-leadership that is going to get him ejected from the Office of President.
The ball faced lies spewing out of the orifices of the Republicans just get sucked up by low information voters like it's manna from heaven. When are voters going to call out liars like Boehner and his lapdog Cantor for the sorry pieces of slime that they are?
It is easy to understand why the proposed budget ignores the high dollar items as they are politically dangerous. (SS - Medicare - Defense) If any person on this vine thinks we are going to balance a budget without addressing the elements that makeup 75% of the overall budget, your opinion is useless.
So we get token spending cuts and "new investments." But no real solutions as the 16% of the proposed budget that covers discretionary spending will never be enough to overcome the budget deficit, let alone the national debt. One can only hope politicians on both sides will take the cuts offered in the proposed budget, cancel any and all new spending programs (the investments) and finally grow a pair and propose real reforms to Defense, Social Security, Medicare and yes, tax increases. Until then, this is just politicians doing what they do best.
The Republicans are once again showing that they are big talking chicken $hits. They'll continue to dog whatever Obama does without giving any real direction on where their cuts would be. They want to criticize, but, at the same time, hide behind Obama. If they are forced to ever show their actual hand, they will pee all over themselves. I wouldn't be surprised, if, somewhere out there, in a dark little room, located under a rock out behind the GOP Headquarters, there is some discussion, that, maybe it wouldn't be so bad if they didn't win the Whitehouse in 2012. That way, they can still nip at Obama's heels, but, have some cover when the $hit hits the fan.
If the budget is timid than why the he?? did the republicans give tax breaks to anybody. Holding it up so they could keep tax breaks for the rich. Show some guts pubs, the real jobs will not come because you let the rich keep more money. The real jobs would to instill tarrifs against buisness done overseas. Corps established in America should be fined if more than 30% of work force exists outside the USA. Services should be taxed based on the overseas bill.
wheres the republican spirit. 25% pay decrease $10,000 per year for their healthcare and $25,000 for retirement a year. That will help the budget
I cannot believe Obama cut funds for heating assistance for the poor!!!! How much more can the poor of this country take? Why doesn't he cut most of his rides on Air Force One? That would save the taxpayers a whole lot of money! He continues to make me sick, and he never fails at it!!!
Good Morning Haters - glad to see the vitriol, name calling and hatred is back in the posts! Bottom line gang ---- it's gonna take BAD ideas and GOOD ideas from BOTH sides to fix the financial mess. NOONE - get that - NOONE would like a budget that answers the mail ........... Even getting there incrementally will satisfy NOONE.......So, quit the Bush bashing, quit the Clinton bashing, quit the Obama bashing (though I really like the O bashing personally), and realize this ain't gonna be easy, nice, fun, painless, etc, etc, etc. Those who blame the rich are fools; those who blame one party or the other are idiots; those who blame corporations don't fully understand the business world writ large..............Instead of working against each other; instead of blaming each other - put together a plan EVERYONE will like - try it - that plan probably doesn't exist!!! I think the FAIR TAX is probably the closest way to actually be fair, but I bet you don't see that happening anytime soon......
I think Obama is still the ultimate statesman, politician & negotiator. His proposed budget is simply BRILLIANT! First a little taste of the bad medicine to come, drop it on Congress' desk and see what it stirs up in the GOP. Watch carefully! If you listen carefully, too, the GOP will offer more and more of what middle America has left to protect the tax loopholes enjoyed by major US corporations (which are now all "multinational" and hide their income in overseas deposits so they reap billions in Federal Tax Refunds and State Corporate Tax Refunds or declare the billions in income they hold are for "indefinite reinvestment")...while telling you that YOU must bear the brunt of the "pain" inflicted by the Obama Administration...which only happened by putting all the off-budget Bush spending into the budget so it could be seen.
The GOP will offer the same tired argument that corporations need lower tax rates to create more jobs without explaining the jobs created are everywhere except within US borders. They will continue to blame immigrants (documented and undocumented) for the loss of US jobs when in fact what hasn't been replaced by foreign workers is obsolete or now done by high tech, computer controlled machinery....because it is necessary to create a local enemy for you to pursue while stock in the multinational corporations continues to generate profit for wealthy investors.
The GOP will pull the rug (and safety net) out from under the elderly, disabled and children because their voices are not as loud as lobbyists, but try to eliminate "Obamacare" provisions that rein in the appalling profits of the pharmaceutical industry that are the true reason Medicare and Medicaid spending is out of control. (Face it, when a single prescription is billed to Medicare for more than what the individual receives in a monthly check it isn't the seniors or baby boomers that are causing the cost ballon, it's the industries built on senior consumers.)
The bottom line with the hits they will propose on middle America is an economy that will remain stalled. I do disagree with the cuts to Pell Grants because if the proposed cut to Pell Grants stands, remember summers with no Pell Grants will release tens of thousands of summer workers...which will be an incentive for employers to use older workers in a seasonal employment pattern, family members will be forced out of the job market or out of jobs when they have to shoulder the greater burden of providing for disabled, elderly and young family members because that is the most economical choice for individual families...be prepared to hear a lot about "Family Values" that put a full time parent caregiver at home.
You will be told the roads and bridges are good enough even though they are crumbling and be told there is no reason to develop new energy technologies (ignore that spill in the Gulf, please). Every community will need a convention center stocked with emergency supplies for when the temperatures go down and families can't keep the utilities on without help, even if new technology spending would allow more people to be served with less consumption of non-renewable energy sources. You will be told it is ok to sell your health for industries that operate dirty, just to have any job at all.
So when the Tea Party starts talking about "life" and "liberty", remember the party they belong to considers your life less important than theirs, your's and your childrens' lives expendable in protecting theirs, your income to be as little as possible, and to expect nothing from anyone in return. Be prepared for demonization of our returning soldiers, also, because of the aftercosts of wars.
The America you think exists doesn't. There will never be a return of major manufacturing jobs, there will not be clean air or water because regulation will be held up as a barrier to "jobs", there will not be new health care breakthroughs because the medical and pharma industries must maintain illness to maintain profits, and you will not be able to live independantly from the generation that came before you or the generation you gave birth to because it has all been sold to the highest bidder. Gas and oil industry, the pharmaceutical industry and industrial food production owns you lock, stock and barrel...and anyone with half a brain knows who the biggest champions of those industries are.
This is going to get interesting, amusing even, to watch how you are manipulated to hanging yourselves, once again, by believing talking points aimed at making you act like a bunch of silly little puppets.
Obama is brilliant. He is opening the door for these accomplished manipulators to hang themselves...if we're lucky, some of you will notice.
You have to spend money to make money, it costs to fix what is broken, and it costs to educate new generations to take up the burden of what comes next.
Play on words....Obama's new word "invest"....means "spending". In the crisis America is in, Obama still wants to spend and spend. How do you figure that ? America has no money and we keep borrowing and our President is deaf to us and still wants to spend. I don't get it. If you dont' have any money, you don't spend any. People are getting poorer and poorer with no job in sight and Obama proposes more taxes.
When is this all going to stop and when is Washington and those rich Congress people doing to represent us. If your life better today then two years ago? Mine isn't , I'm lucky to have a job, but I have less money to spend.
i just read an article that the government pensions and healthcare are killing us they are the biggest entitlements gov needs to be down sizes and these big sweetheart pensions need to be stopped! Yet when the gov talks about entitlements they never mention there own how convenient! I also read the as far as welfare goes 1.6 percent of the population receive assistance mostly poor children.
Pensions, healthcare, education,defence then welfare
sorry i am trying to post the web site but it will not let me sorry!
"WIN THE FUTURE" .... "WTF".... WTF????? Brilliant