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Posts Tagged ‘Debt Crisis’

Americans are not serious about Deficit/Debt reduction

by Phantom Ace ( 5 Comments › )
Filed under Economy, Headlines, Polls at April 20th, 2011 - 11:53 am

Despite the negative outlook from S&P, anemic job and wage growth the last 11 years, Americans oppose any reforms to entitlements. This is madness and if we don’t seriously address these issues, we face an economic Armageddon.

Despite growing concerns about the country’s long-term fiscal problems and an intensifying debate in Washington about how to deal with them, Americans strongly oppose some of the major remedies under consideration, according to a new Washington Post-ABC News poll.

The survey finds that Americans prefer to keep Medicare just the way it is. Most also oppose cuts in Medicaid and the defense budget. More than half say they are against small, across-the-board tax increases combined with modest reductions in Medicare and Social Security benefits. Only President Obama’s call to raise tax rates on the wealthiest Americans enjoys solid support.

This is national economic suicide on the part of Americans. Many still think this is the 1950’s and we are on top of the world. They should read about Argentina and how that nation went from an economic powerhouse to a basket case.

Obama’s Demagogue Budget Speech

by Phantom Ace ( 164 Comments › )
Filed under Barack Obama, Democratic Party, Economy, Elections 2012, Progressives, Republican Party, Socialism at April 14th, 2011 - 2:00 pm

Yesterday our 3rd world Liberation Ideologue President Barack Hussein Obama gave his budget plan. Without any specifics he claimed he was going to make cuts. The only specific he gave was cutting the Military budget. I do agree there is waste there that needs doing away with but we know that’s not what Obama will cut. The other item Obama was clear on was raising taxes on those making $250,000 and above. He claimed it would raise $1trillion in funds over 12 years. Where this figure came from Obama didn’t specify. Obama did make clear he was not really reducing government spending. He claimed that the Government needs to continue to waste money on our failing education system and on useless wind farms.

What’s worse is that Barack Hussein Obama channeled his 3rd World Liberation rhetoric and demonized Paul Ryan’s budget. He claimed that “the rich” were getting tax cuts, which is a lie since the rates have been the same for 10 years. Obama accused the Republicans of wanting to take away medical care for seniors. He lied about Paul Ryan wanting to starve people.  It was one of the most most leftists speeches I have ever seen by a President in my 35 years of life.

Did someone move the 2012 election to June 1? We ask because President Obama’s extraordinary response to Paul Ryan’s budget yesterday—with its blistering partisanship and multiple distortions—was the kind Presidents usually outsource to some junior lieutenant. Mr. Obama’s fundamentally political document would have been unusual even for a Vice President in the fervor of a campaign.

The immediate political goal was to inoculate the White House from criticism that it is not serious about the fiscal crisis, after ignoring its own deficit commission last year and tossing off a $3.73 trillion budget in February that increased spending amid a record deficit of $1.65 trillion. Mr. Obama was chased to George Washington University yesterday because Mr. Ryan and the Republicans outflanked him on fiscal discipline and are now setting the national political agenda.

Mr. Obama did not deign to propose an alternative to rival Mr. Ryan’s plan, even as he categorically rejected all its reform ideas, repeatedly vilifying them as essentially un-American. “Their vision is less about reducing the deficit than it is about changing the basic social compact in America,” he said, supposedly pitting “children with autism or Down’s syndrome” against “every millionaire and billionaire in our society.” The President was not attempting to join the debate Mr. Ryan has started, but to close it off just as it begins and banish House GOP ideas to political Siberia.

Read the rest: The Presidential Divider

Obama’s speech was not a call for Bi-Partisanship. It was a defense of the Progressive ideology. Clearly his 2012 campaign will be about him as the protector saving America from the Evil Republicans. This is rhetoric right out of the 3rd World Liberation playbook. It sounded like a speech Hugo Chavez would give. At least Hugo is funny with his singing antics. Obama is not funny and this was a very anti-American speech.

Obama is not serious about the debt crisis America is facing. He wants to use it to demagogue those who are serious. This shows Obama couldn’t care less about the economic future of America. The Republicans need to confront Obama on this issue.  Americans prefer spending cuts to tax increases and this should used as ammunition against Obama. I doubt they will since the GOP leadership is scared of Obama and will probably crumble as they usually do.

Obama’s 3rd World Liberation Style Budget Speech

by Phantom Ace ( 2 Comments › )
Filed under Barack Obama, Breaking News, Democratic Party, Economy, Headlines, Progressives at April 13th, 2011 - 5:41 pm

Barack Hussein Obama gave a speech today outlining his budget plans that sounded like Hugo Chavez wrote it. He claims the Rich don’t deserve tax cuts, even though it’s been the same rate for 10 years. Obama then said that government spending has lead to innovation and advancement. A lie since most of our technological breakthroughs came from private industry. America spends 3rd highest per capita on education in the world and gets bad results. Obama implies we need to spend even more money.  Obama claimed Republicans want to take away health care from old people. In short, it was full of lie.

Seeking to reassert leadership on the deficit and reassure troubled financial markets, President Obama on Wednesday said $4 trillion can be cut from accumulated deficits by 2023, and told Congressto pass a “debt failsafe” trigger that would impose big cuts if the debt doesn’t begin to stabilize within three years.

Essentially tossing aside the budget he submitted just two months ago, Mr. Obama called for much deeper defense and domestic spending cuts and said while he will not trim benefit payment from Social Security, Medicare or Medicaid, more money can be squeezed out of the latter two programs in other ways.

The president also called for undoing the Bush tax cuts for upper-income taxpayers, and for canceling other tax cuts many of them receive such as the mortgage interest deduction — which he called “spending reductions in the tax code.”

Obama’s speech was  atypical 3rd World Liberation speech. It was us vs. them and only he can save us. We have had3 Center-Left Presidents since Reagan, but Obama is very far Left. This was a speech Hugo and Castro would applaud. Well done Comrade Obama!

Obama to propose Tax increases for 2012

by Phantom Ace ( 26 Comments › )
Filed under Barack Obama, Democratic Party, Elections 2012, Headlines, Progressives, Republican Party, Socialism, Special Report at April 11th, 2011 - 11:38 am

Obama has decided to go full bore Progressives with his 2012 budget. He proposes meager cuts that amount to nothing. On top of that, he proposes a tax hike on those making over $250,000. This is straight bout of teh 3rd World Liberation playbook. He will demonoze those that make over that amount to bludgeon the Republicans. WIth the political machine he has behind him, it could work.

President Barack Obama will lay out his plan for reducing the nation’s deficit Wednesday, belatedly entering a fight over the nation’s long-term financial future. But in addition to suggesting cuts—the current focus of debate—the White House looks set to aim its firepower on a more divisive topic: taxes.

In a speech Wednesday, Mr. Obama will propose cuts to entitlement programs, including Medicare and Medicaid, and changes to Social Security, a discussion he has largely left to Democrats and Republicans in Congress. He also will call for tax increases for people making over $250,000 a year, a proposal contained in his 2012 budget, and changing parts of the tax code he thinks benefit the wealthy.

[….]

Eliminating the Bush tax cuts for the highest earners, however, will only put a small dent in the projected deficit.

The Republcians need to point out that raising taxes on those making $250,000 will bring in much revenue. They need to hammer this daily to blunt Obama’s demagoguery on this issue.