Obama's "Plan" Adds $8.6 Trillion to the deficit

[Acid Trip]

"President Obama's 'Plan' Adds $8.6 Trillion to the Debt," the minority side of the Senate Budget Committee contends. Here's a chart put together by the Republicans on the committee to explain how Obama's plan adds to the debt:



The $400 billion in deficit reduction would be achieved by a $1.6 trillion tax hike, which Obama has proposed as part of the "fiscal cliff" deal.

With Obama's latest plan, debt in 2022 is expected to be $25.4 trillion; otherwise, in ten years, it is expected to be $25.8 trillion.

"With the adoption of the Budget Control Act (which immediately raised the debt ceiling $2.1 trillion in exchange for $2.1 trillion in spending cuts over 10 years), the United States is presently on course to add $9 trillion to the gross federal debt by 2022," write the Republicans on the Senate Budget Committee.

"Though the President has said his budget plan would help 'pay down the debt' and represents a “balanced approach” to $4 trillion in deficit reduction, both his budget and his fiscal cliff proposal offered by Secretary Geithner achieve only $400 billion in 10-year savings—meaning that the United States will accumulate $8.6 trillion in new gross debt instead of $9 trillion. Rather than using higher taxes to reduce the deficit, the President’s $1.6 trillion tax hike funds a $1.2 trillion spending increase consisting of: new stimulus measures (at a cost of $50 billion), an unpaid for “doc fix” (almost $400 billion), a continuation of the payroll holiday ($90 billion) and extended unemployment insurance ($26 billion), and, most significantly, the complete repeal of half of the BCA spending cuts. All these increases are only partially offset by a $600 billion spending cut, resulting in a net $1.2 trillion spending increase. His tax increase thus nets only $400 billion in reduced deficits, allowing the debt of the United States to climb past $25 trillion over the next decade."

[Muddy]

Im guessing this mother fucker is trying to sink the US by bankrupting us?

[FBD]

what an asshole

[Acid Trip]

Im guessing this mother fucker is trying to sink the US by bankrupting us?

It's called the Cloward-Piven strategy. Google it and you'll see it's exactly what's happening. Here is a tiny snippet and I think you'll see the plan is in full motion.

Cloward and Piven proposed to create a crisis in the current welfare system – by exploiting the gap between welfare law and practice – that would ultimately bring about its collapse and replace it with a system of guaranteed annual income. They hoped to accomplish this end by informing the poor of their rights to welfare assistance, encouraging them to apply for benefits and, in effect, overloading an already overburdened bureaucracy."

[FBD]

and when you start looking into that, you see how Obama is heavily connected to the 60s commie movement

[Muddy]

Yeah, he just may be up to something.. He does have a sketchy past as an activist..

[Lambchop]

Did they invent a time machine and travel to 2022 to see that he had spent that much?

'cause I'd like to go back to 1988 and slap my mother.

[FBD]

That's just projected - you know its going to be significantly higher if all this does come to pass.

[PorkChopSandwiches]

:titanic:

[Acid Trip]

Did they invent a time machine and travel to 2022 to see that he had spent that much?

'cause I'd like to go back to 1988 and slap my mother.

No, it's called common sense. Take the current budget projections, modify for the president's plan and view the results.

[Lambchop]

I was taught to never, ever, ever trust statistical data without serious scrutiny. Especially when it concerns a period in time that has yet to pass. I also note that the data was compiled by Republican staff and mixing bias with statistics is a dangerous game.

[PorkChopSandwiches]

95% of the time all stats are accurate

[Lambchop]

[Acid Trip]

I was taught to never, ever, ever trust statistical data without serious scrutiny. Especially when it concerns a period in time that has yet to pass. I also note that the data was compiled by Republican staff and mixing bias with statistics is a dangerous game.

So I take it you DO NOT believe in global climate change?

[Lambchop]

We all know we're producing CO2 but the future rates and impact cannot be predicted with such a degree of accuracy. Of course it is in the best interest of a scientist who works in the relevant department to exaggerate the human influence on climate change in the future because they will then receive more funding to further their work. What started as a matter of global concern has been exploited to make various people a lot of money.