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Title: Obama Says New Budget Rules Will Ease Deficits, Require Congress To 'Pay For What It Spends'
Source:
Associated Press
URL Source: http://www.sfexaminer.com/politics/ ... r-what-it-spends-84298332.html
Published: Feb 13, 2010
Author: Associated Press
Post Date: 2010-02-13 12:56:45 by Brian S
Keywords: None
Views: 500
Comments: 20
WASHINGTON — President Barack Obama said Saturday new budget rules that say spending cuts must accompany spending increases will force Congress to "pay for what it spends, just like everybody else." Obama signed a bill Friday reinstating budget rules known as "paygo" — short for "pay as you go." In place during the 1990s, the rules helped create balanced budgets and surpluses. Obama blames eliminating them for creating much of the $1.3 trillion deficit he faced upon taking office in January 2009 and for a total debt of $8 trillion projected over the next decade. The president has been trying to show a public alarmed by higher government spending in the midst of an economic downturn that he is taking steps to tighten Washington's purse strings. But the bill also lifted the cap on the amount of money the U.S. can borrow by $1.9 trillion — to a total of $14.3 trillion. The ceiling was lifted from $12.4 trillion to keep the U.S. from going into default. In his weekly radio and Internet address, Obama said the "politics of the moment" often overwhelms the desire Democrats and Republicans have to produce balanced budgets — something the federal government legally is not required to do. "Now, Congress will have to pay for what it spends, just like everybody else," he said. Obama did not discuss raising the debt ceiling in his message. The president also repeated a promise to create, by executive order, a panel of Democrats and Republicans to suggest ways for closing the gap between what the government spends and what it collects in revenue. His proposal is weaker than a similar plan recently defeated by the Senate because Congress would not be required to vote on the presidential panel's recommendations. Obama was expected to sign the executive order as early as next week. The administration is projecting a $1.56 trillion deficit for the budget year ending Sept. 30. Republicans mocked Obama for signing the "paygo" bill behind closed doors. "With a simple stroke of his pen, President Obama now has the ability to continue his binge spending agenda to the tune of an additional $1.9 trillion, the largest one-time increase in our history," Republican Party Chairman Michael Steele said Friday. "Taxpayers will continue to foot the bill for the Democrats' fiscal irresponsibility." ___ On the Net: Obama address: http://www.whitehouse.gov
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#1. To: Brian S (#0)
Why bother printing this crap?
Goldi-Lox: You're one dumb-fucking bitch.
If the GOP didn't abandon those rules, the deficit would be fraction of what it is now.
Being a Republican means you get to choose your own reality.
The GOP hasn't controlled federal spending since January of 2007. That was three budgets ago. Why don't you post a nifty graph showing whats happened recently? That said, yep, the GOP lost its freakin mind on spending and deserved to be reduced to minority status in 06. But here we are today, the Democrats are in complete control, and the budgets fiscally insane NOW. And all this means is higher taxes, mark it down. You did see the DEMOCRAT CONGRESS just raised the debt ceiling this week, right? Your side can't hide behind the GOP on spending, look at the polls, look at the last three elections. Better come up with something quick, or you get a GOP controlled House and Senate come November.
my anti groupie can't get through life without me.
This is simply a plan to lock in Obamas massive spending increases.
It looks like der fuhrer has discovered the neat lil toy he's got to get what he want...excutive orders, and he's about to use them like nobodies business! I'll post it here in a few minutes. I just found out we've had a death in the family, and my phone is ringing off the hook...
Sorry for the lousy spelling, I have Got to start using spell check!
Yes, and its also a way to raise taxes without the Messiah being blamed directly. Congress never reduces/eliminates spending in any significant way, as we all know.
my anti groupie can't get through life without me.
I remember watching the GOP Congress turn budget surpluses into deficits and raise the debt ceiling year after year - where were you then? For the fourth time in five years, Congress has raised the nation's debt ceiling -- this time to $9 trillion; it awaits Presidential signature. The Senate's party-line* vote was 52-48; the House approves the increase automatically. When President Bush assumed office in January 2001, the nation's debt was $5.6 trillion and the budget was in surplus. Total debt has increased 50 percent during his five years in office. In 2005, the debt was equivalent to 60 percent of Gross Domestic Product; when President Reagan took office in 1980, it was 33 percent.
You're directing that at someone who has never let facts infringe upon his separate reality,,,
I’ll see what I can do about posting a more current pic, if you really want one. Badeye posted on 2003-03-15 09:26:22 ET Reply Trace Someone raised those debt ceilings, it must have been those phantom Congresses under a GOP pres that no one likes to talk about.
I was advocating reducing the spending, Fred Mertz reposted an old post of mine from before the 2006 mid term that demonstrates it. btw, the GOP NEVER inherited a 'surplus', thats pure political propaganda. simple minds like it, though.
my anti groupie can't get through life without me.
And again, which spending bills became law without Bush's signature?
Being a Republican means you get to choose your own reality.
You have 60 minutes after you post to edit each and every reply of yours on this site. I think they call it the Edit Feature.
First chance you get Fred, bite me! &;-)
Do you see the Edit link? I'll show you. Edit: Okay, I'm glad you are aware of the feature. And quit talkin' horses.
Yes I did, and I thank you, I was just horsin around..lol...horsin around with ya... sorry..
I can take it. See my previous Edited reply.
That's pretty neat fred, thanks. I'm going to call it a night... I hope you had a very nice Valentines Day! &;-) nite fred!
I'm getting ready to;^)
You want to review 'continuing resolutions' (laughing)
my anti groupie can't get through life without me.
#2. To: Brian S (#0)
WASHINGTON — President Barack Obama said Saturday new budget rules that say spending cuts must accompany spending increases will force Congress to "pay for what it spends, just like everybody else."
#3. To: go65 (#2)
#4. To: Brian S (#0)
#5. To: A K A Stone (#4)
This is simply a plan to lock in Obamas massive spending increases.
#6. To: A K A Stone, ALL (#5)
#7. To: A K A Stone (#4)
#8. To: Badeye (#3)
You did see the DEMOCRAT CONGRESS just raised the debt ceiling this week, right?
#9. To: lucysmom (#8)
#10. To: lucysmom (#8)
I remember watching the GOP Congress turn budget surpluses into deficits and raise the debt ceiling year after year - where were you then?
#11. To: lucysmom (#8)
#12. To: Badeye (#3)
The GOP hasn't controlled federal spending since January of 2007
#13. To: Murron (#6)
Sorry for the lousy spelling, I have Got to start using spell check!
#14. To: Fred Mertz (#13)
You have 60 minutes after you post to edit each and every reply of yours on this site. I think they call it the Edit Feature.
#15. To: Murron (#14)
(Edited)
#16. To: Fred Mertz (#15)
Do you see the Edit link? I'll show you.
#17. To: Murron (#16)
#18. To: Fred Mertz (#17)
I can take it. See my previous Edited reply.
#19. To: Murron (#18)
#20. To: go65 (#12)
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