Obama Unveils $3.8 Trillion Budget with Record Deficits
There you have it American … Barack Obama’s $3.8 Trillion budget. Obama will propose on Monday a $3.8 trillion budget for fiscal 2011 that projects the deficit will shoot up to a record $1.6 trillion this year.
3.8 Trillion Dollars!!!
President Obama sent Congress on Monday a record $3.8 trillion budget for 2011 that would boost war spending, trim domestic spending and rely on $1.3 trillion in new borrowing.
The budget would be the third in a row with a deficit of more than $1 trillion. The red ink would be cut nearly in half by 2014, mostly by allowing tax cuts on families making more than $250,000 to expire in 2011.
The Obama Administration claims that to put people back to work, Obama proposes to spend about $100 billion immediately on a jobs bill that would include tax cuts for small businesses, social-safety-net programs, and aid to state and local governments. Didn’t we already have a $787 billion Stimulus package that did not do the job and of which all the $’s were not spent? Another Stimulus plan, do we call it Son of Stimulus?
The US Government is spending way more much money that it is taking in. American families are asked to budget and go without, why isn’t the US government doing the same?
UPDATE I: Republicans on Monday slammed President Obama’s $3.8 trillion budget as a fiscally irresponsible spending spree
UPDATE II: Debt deluge: Here comes the $1.6 trillion flood of red ink
Good grief, this will burden individuals for generations to come. Obama has the audacity to blame this on Bush? Hardly.
Posted February 1, 2010 by Scared Monkeys
Barack Obama, Economy, Government, Politics, Socialism, Tax & Spend Liberals | 3 comments
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3 Responses to “Obama Unveils $3.8 Trillion Budget with Record Deficits”
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Hmmm… why is that. Maybe because we had to buy our shitty banking sector, maybe it was because we had to finance 2 wars, maybe because we had to change the diapers on some of our big companies.
Maybe we need the money invested to lord it over all the others who couldn’t and won’t recover as quickly.
I would be ok with you shooting yourself in the foot if it wasn’t also mine.
Dear Prez Obama, Please start cutting your budget we Americans can not afford to pay anymore taxes for no services. I would suggest you start with your funding of ACORN, SEIU, NEA, and the Goldman Sachs golden parachute plans. You have gutted NASA. You should be fair across the board.
Instead of funding AL Gores business ventures. Link below.
How about giving small businesses located in the USA loans like you gave AL Gore ventures in FINLAND. By the way Al Gore business ventures do not need a loan. AL can finance his own projects.
GOD BLESS AMERICA…
How can you realistically expect him to reduce the deficit within one year of taking office when he inherited such a huge budget WITH 2 wars and WITH an economic meltdown. Cut the man some slack. Bush deserves most of the blame here. Bush inherited a *SURPLUS* and by the end of his tenure it was a 1+ trillion deficit. Judge Obama at the end of his tenure – if he cuts into the deficit I’d say he did a good job.