Ooops, Barack Obama Understates Federal Deficits by $2.3 Trillion

So whats an extra $2.3 trillion … nothing it appears to Barack Obama.

According to the CBO, President Barack Obama has underestimated the US’s federal budget deficit by $2.3 trillion. What ever happened to that being up front with the American people and transparency? The CBO does not agree with Obama’s numbers.  Obama appears to be using “hope & change” with the budget deficits.

A new assessment of President Barack Obama’s budget released Friday says the White House underestimates future budget deficits by more than $2 trillion over the upcoming decade.

The estimate from the nonpartisan Congressional Budget Office says that if Obama’s February budget submission is enacted into law it would produce deficits totaling $9.5 trillion over 10 years – an average of almost $1 trillion a year.

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Democrat Senate Majority Leader Harry Reid Pleads to Save Federal Funding for the Cowboy Poets

Why we love “Freedom of Speech” …

There is a reason why many Americans believe that there have to be government cuts in order to get the federal budget under control. Democrat Senate Majority Leader Harry Reid unwittingly just provided more proof that it needs to take place immediately. Reid referred to the GOP mean-spirited” budget bill on the Senate floor as Reid stated that budget cuts would eliminate the annual “cowboy poetry festival” in his home state of Nevada. Um, what? Was this an SNL skit? No, Harry Reid was serious.

SAVE THE COWBOY POETRY FESTIVAL

“The mean-spirited bill, H.R. 1 … eliminates the National Endowment of the Humanities, National Endowment of the Arts,” said Reid. “These programs create jobs. The National Endowment of the Humanities is the reason we have in northern Nevada every January a cowboy poetry festival. Had that program not been around, the tens of thousands of people who come there every year would not exist.”

 In a time in which America cannot continue to fund programs that should never have been government funded in the first place, Reid defends over the top federal spending by defending a pork barrel project from his own home state … ARE YOU JOKING? These people are really serious about cutting government spending? Really? Do we really wonder why we got to this tipping point?

Government Hand Outs Now Make Up One-Third of US Wages

Is this the “Hope & Change” that America is really looking for?

As reported at CNBC, government social welfare benefits make up 35% of wages and salaries this year. That is up from 21%  in 2000 and 10% in 1960. To make matters worse, many Americans appear to have become dependent on government spending and are not willing to take cuts in their welfare, medicare or social security benefits. Be very careful America of ever becoming dependent on any governemnt, no matter what party is in power.

Government payouts—including Social Security, Medicare and unemployment insurance—make up more than a third of total wages and salaries of the U.S. population, a record figure that will only increase if action isn’t taken before the majority of Baby Boomers enter retirement.

“The U.S. economy has become alarmingly dependent on government stimulus,” said Madeline Schnapp, director of Macroeconomic Research at TrimTabs, in a note to clients. “Consumption supported by wages and salaries is a much stronger foundation for economic growth than consumption based on social welfare benefits.”

Sadly, we have gone from the welfare state, to the welfare nation.

Joe Manchin (D-WV) Rips President Obama on Failure to Lead on Budget

OBAMA, FAILURE TO LEAD …

Freshman democrat US Senator Joe Mancin of West Virginia ripped President Barack Obama a new one today on the floor of the Senate stating that Obama failed to lead with his recently released budget proposal. Look for Manchin’s “Obama failure to lead” comment in a GOP Presidential candidate political commercial in 2012.

Manchin charged the president with failing to lead the way in reducing spending, while also criticizing Republicans for offering “partisan” and “unrealistic” budget proposals.

“Why are we doing all this when the most powerful person in these negotiations — our president — has failed to lead this debate or offer a serious proposal for spending and cuts that he would be willing to fight for?”

 This is what happens when a Democrat wins in a “red” state like West Virginia. Manchin knows that he faces election in 2012 and if he does not do what he said during the 2010 special west Virginia election, the voters will cast him aside. Manchin basically ran a a Republican, putting the cross-hairs, literally, on the Cap & Trade bill.

Obama Government Posts Largest Monthly Federal Deficit in US History … $223 Billion in February 2011

Barack Obama sets another record … Hope and Change, eh?

Wasn’t it just the other day that President Barack Obama was lecturing America during his weekly address stating that “we need a government that lives within its means.” Yes we do Mr. President and you and your Democrats are not it. Living within your means, maybe Barack Obama would like to explain the record monthly federal deficit of $223 billion for February 2011.

Cheers America 

The federal government posted its largest monthly deficit in history in February, a $223 billion shortfall that put a sharp point on the current fight on Capitol Hill about how deeply to cut this year’s spending.

That one-month figure, which came in a preliminary report from the Congressional Budget Office, dwarfs even the most robust cuts being talked about on the Hill, and underscores just how much work lawmakers have to do to get the government’s finances in balance again.

Of course when Obama posts such an out of control federal deficit, its time to blame GWB; however,  as reported at the Gateway Pundit, it turns out that Obama’s one month $233 billion deficit or larger than George W. Bush’s for all of 2007.

This president must be defeated in 2012 before this country is taken to the point of no return.