June 30th, 2011
06:23 PM ET
Obama talks tough on deficit at Philadelphia fundraiser Philadelphia (CNN) - President Obama Thursday continued his tough talk on negotiations that surround raising the debt ceiling, telling a packed ballroom of supporters in Philadelphia he will not agree to the broad spending cuts some Republican leaders in Congress are demanding. “I am prepared to bring our deficit down by trillions of dollars. That’s with a T, trillions. But I will not reduce our deficit by sacrificing our kids’ education… by eliminating medical research being done by our scientists,” Obama said to a largely enthusiastic crowd. “I won’t sacrifice rebuilding our roads, and our bridges, and our railways and our airports.” The comments followed similarly tough talk at his White House press conference Wednesday and came at a joint fundraiser for the Democratic National Committee and Obama’s reelection campaign - an event that more than 800 people paid at least $100 to attend, according to DNC officials. Before the president touched down in Philadelphia Thursday evening, he was already taking heat from Republicans for taking time to raise money only a day after he scolded Congress for not showing enough action ahead of the looming August 2 debt ceiling deadline. But unlike Wednesday’s press conference, the president made no direct mention of his Republican critics, instead sounding a confident tone about his reelection prospects. "I have 5 and a half more years to go," he told the cheering crowd. But the crowd wasn't entirely supportive. At one point, the president was interrupted by a small gathering of protesters, critical of the president over the issue of AIDS. But the crowd quickly drowned out their chants. Following the 20 minute speech, Obama headed to a more intimate and high-dollar fundraiser at the home of David Cohen, the executive vice president of Comcast Corporation. Tickets for that event begin at $10,000. The two events together are expected to net $2.5 million. Obama's trip to Pennsylvania Thursday marks the thirteenth time he has visited the crucial battleground state since his inauguration and is the third trip since kicking off his reelection bid on April 4. Before hitting the cash-circuit, the president made an unannounced stop at John’s Water Ice, a longtime refreshment staple in South Philadelphia. During the seven-minute visit he greeted a throng of people that hastily gathered outside and ordered a lemon-flavored Ice, referring to the drink as “outstanding.” |
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Here is a serious question to Liz, Jean and all my other Liberal friends.
Democrats are always saying to raise the taxes on families making $250,000 + a year. That this will solve our, as they call it, revenue problem. Please answer this. According to census.gov there are 2,300,000 families that make $250,000 or more. According to the Congressional Budget Office we have a short fall of $1,500,000,000,000 per year. That comes to $672,645 per year per family that earn $250,000 or more.
Please explain to the rest of the class exactly how you see this actually working out. And why you think it is just a simple matter of raising taxes on these families.
http://www.census.gov/compendia/statab/2011/tables/11s0695.pdf
Jay, You are right in one sense. If all those 2,300,000 families only made $250,000 a year, it wouldn't make much of an impact. That said, the $250,000-a-year crowd are the paupers in this bunch. Once you get up to the multi-multi-millionaires, the billionaires - that's where the money would start to flow in.
@Jay in NC~ I am not the people you asked to explain how things work but it makes sense for a two pronged attack on the budget problems... Both Increase Income and Decrease Spending. I think that in addition to raising taxes on those making X or more a yr {in the speach yesterday it was 500K not 250K you state above}& getting rid of loopholes for big oil companies democrats are also willing to cut spending in areas they normally would not. That is the definition of compromise~ the democrats sacrifice some of the 'entitlement programs' and the republicans sacrifice giving big oil and uber wealthy huge tax breaks. Buffet for example claimed to have paid @17% in taxes whereas none of his employees paid less than 32% http://www.youtube.com/watch?v=Cu5B-2LoC4s
Who said raising taxes alone will fix the problem. I see no problem with cutting some of the entittlement programs. but cutting those programs along with raising taxes and fixing tax loopholes migh give us a fighting chance.
Jay you know that the formula is way more complicated. The fact is that those that use corporate jets no longer get that subsidy. Do you own a jet? No subsidies for oil companies. You own an oil company Jay? Also Jay there are 1,000,000,000 – 10,000,000,000 defense contractors that can be mitigated. You a defense contractor? Jay how about this as a republican strategy...whatever President Obama and the Democrats want to do; even if it's good for the U.S. economy and jobs as well as compromising on the debt; republicans will be against it. As the republican minority
leader described it; 'our party's main goal is to make sure Obama is a one term President.' Nothing else really matters with that kind mission. Hmmmm? Republicans want to be back in power...what ever it takes.
The answer is really simple. We do NOT expect to close the deficit merely with taxes on the wealthy. Clearly there have to be funding cuts and the President has put forth a good number of them over the next decade. Further, there needs to be tax reform where loopholes that benefit the multi-nationals are eliminated to put them on a more level playing field with Main Street businesses that pay the full 35% fare. And yes, we can reduce that rate and still increase income. And finally, there needs to be something done about Medicare and Medicaid costs which the Healthcare Reform Act begins to address (although not sufficiently). What I really don't get is why y'all don't think it's right to pay your bills. The privileged pretty much control the Congress that ran those bills up.
Haven't any of you seen Eric Cantor's web site, You Cut where you can vote to cut a wide range of bills.
The things our tax money pays for makes me sick to my stomach, I don't want to give the government
(especially this administration) more of my money to waste.
You put your faith in a Republican's website? The same Repug that just walked out of the negotiations over the debt ceiling when both parties were within 3 points of having an agreement? The same repug who is willing to put our country into default, just because Dems want to close tax loopholes for oil companies and corporate jet owners?
I wouldn't believe Cantor if he swore on a stack of Bibles!
...easy....1/4 of the people you can define as being "well off" who are the one's that you don't want taxed are the ones that have access to 84% of the resources available on this planet....so that leaves 16% to divide among the remaining 4/5 of the rest of the population....that means that the remaining 4/5 make way way way less than $250,000 and are getting taxed & cannot afford the same luxuries the rest of us better well to do folks can... it also means that 1/4 of the folks who make $250,000 & up do not get to pay for a damn thing & keep all their earnings...which is fine by me.... but think of this... when people say these type of people are "small business owners who make up most of the business in the US" that is a total lie...corporations make about 80% of the businesses in the US, my friend.....added to this, most of the 1/4 you keep defending about not being taxed are responsible for a current defense budget that is over $687 billions a year in national defense which is much more than the $386 billions spend by all other countries combined (that includes, China, France, the U.K, Russia, Japan, Saudi Arabia, & Iran). This is the reason why taxing well off people is a fraction of the right idea....look at the bigger picture...cutting the defense budget by about $300 billion & pulling out completely from our wars would seal the deal! On a personal note...I make $380,000 a year & I don't mind giving away some of the money I've been earning & saving since W came in the white house....or what? are you one of those people that supports me keeping all of my money & cutting funds from cripple children & the elderly? What's your solution besides being as frustrated as the rest of us & blaming "Obummma" for not "making it rain $20s" ?? are you paranoid because the numbers you parade around the web only prove that blacks, Asians, & Hispanics who make more than $100k are increasing in percentages while our generation of bank rollers is decreasing? your census link is from 2008 & it's outdated...it does not indicate any information that can defend your point....AT ALL.
http://en.wikipedia.org/wiki/Military_budget_of_the_United_States
Republican party might not have a good candidate, but Mr. Obama is on the same level as his opponents. We are stuck with slim pickings.
It doesn't take a genious to figure out what these Republicans are doing, they cut the Bush era tax cuts extended for the rich and they aren't going to do anything else. President Obama recognizes this and yes he is right for calling them out. These Republicans are scum buckets and anyone who believes they have your best interest at heart has got to be rich because the rich aren't crying we're broke and when they do you know we are broke, in fact the rich are getting richer.
I Wish the President WOULD "set out" the "destroyers" and let American see in Techni-Color. Call 'em like we see 'em, Mr. President.
President Obama signed those extensions while saying we needed them to "help the recovery". I dont remember anyone forcing him to do this. The republicans put a plan on the table wheather you like it or not its been there for the Dems to demegouge, but, WHERE IS THE DEMOCRATS PLAN ??????? All you get from the Dems is tax hikes now deficit reductuion later. The president says he'll cut trillions "with a T" but where is the plan after raising taxes ????? What specific cuts is he and the Dems willing tgo make ????
CNN females broadcasts favor the Republican slander. One way in favor of the Republicans. Don't you have any females that make more sense? IL'm sure there are some around. The ones you have really sound like idiots. joh
Obama is the worse president ever. Where is the change? OYEEE. At gas station,at food store, at jobs looker,wars and more, more, more.
Wow!! You really believe the POTUS alone can do it? It takes all side to create jobs and fix the other problems we have...don't think like they want you too...use your GOD given gift and think for yourself!
So now the POTUS can't do it alone? This president and the dems blame everything on Bush, even though the dems controlled both houses of congress from Jan 2007 to jan 2010. Since Nancy Pelosi and Harry Reid took power in congress in 2007 (President Obama took the Oval office in 2009) we had the largest increase in debt in the history of the world, unemployment went from 5% to about 10% (African Americans the highest in 25 years), home values in freefall. forclosures skyrocketing, failed stimulas, debt crisis, possible down grading of our debt etc. etc. etc. etc. This a horrible record that they can't defend so the JUST BLAME BUSH and the NYT and the rest of the media never asks questions or tells the truth. they just parrott the Dems talking points.
NOV, 2012 CAN'T COME FAST ENOUGH.
this is the perfect response. Obama is NOT a leader....he has no freakin' idea what he's doing and is a puppet to the teleprompter. 2012 can't come soon enough
Maikl you can not applaud with one hand. if you didnt get the change you should now who to blem, not Obama. blem the Republicans whos main objective is to make Obama one term president and not get people back to work
No the worst was Grant and followed by W. Then we had the great Reagan who had 128 memebers of his staff brought up on charges. BUT you probably don't want to remember that.
If the Repukelicans are so upset over the deficit why did they give their heros Reagan, Bush 1 and Bush 2 a blank check to spend our money like a bunch of drunk Repukelicans? The way I would settle our debts with foreign countries is as follows. 1, compile a list of all the countries we owe. 2, check that list against a list of all the countries we have bailed out of wars time and time again. 3, When the lists match up tell the leaders of those countries what we owe them is just a payment on the debt they owe us for saving their asses. 4 If they do not like that answer, tell them to kiss our ass.
I'ts darn near impossible to be the beacon of change when one half of the governing body is hell bent on doing everything it can to see that you fail. The republicans have resorted to the scorched earth method of ruining the country in order to prevent the President from accomplishing anything good for the nation and its citizens. Why is it that millonairs and billionairs are backing the republicans? because they know that the republicans only work for the rich. I always hear the question "when was the last time a poor man offered you a job?" The real question is when was the last time a rich person created any jobs in America? The answere is not in a very, very, very long time. They much rather exploit the poor in other countries for profit. But now that the republican governors are working to crush unions they will soon be able to exploit Americans too. bye bye minimum wage, safe working environments, medical benefits. People get what they voted for!!
I AGREE. WE DESERVE OBAMA AND HIGH GAS,JOB LOOKER,NATIONAL DEBT.
You got what you deserved under Bush for a DECADE! This is the END results. GOT IT NOW?! Not with a half-a-brain working.
Are you that ignorant ?
BO had the Senate and the Congress for two years, not two days. Democrats have failed plain and simple.
2 years? Decades of Damage. Get REAL
Majority on senate doesnt matter if those idiotic republicans keep threatening to filibuster.
sara you have no idea what you're saying; DECADES???? really??? Keep hoping that Obama will provide for the change you hoped for and believed in. In the meantime as he fails, you can both blame W..... I'll just laugh at ya......
Having said all that, maybe we should just tell them to kiss our ass, and spend the money on the places that were ruined by storms, and other natural disasters in this country. To hell with foreign aid and bailing out dumb countries that are too lazy to work, and get themselves involved in wars they cannot fight. Start with the lazy folks in Africa that keep on having litters of kids with no way to support them. Africa is one of the most fertile places on the planet and the majority of them dont even grow turnip greens or beans to sustain themselves on. Same way in India, they worship cows and let their kids go hungry. Go figure.
NOW OBAMA MAKE CONTACT WITH MUSLIM BROTHERHOOD IN EGYPT. WOW. WHAT ABOUT ISRAEL. I CAN'T BELIEVE WHERE USA GO WITH THIS MAN.
I do for he is a Muslim through and through. He hAS NO RESPECT FOR ISRAEL AND WILL LEAD THE U.S. TO DESTRUCTION FOR WE HAVE FOOLS OVER HERE THAT ONLY SEES COLOR AND NOT BRAINS.
Sorry, taking "our" country to hell began DECADES ago. What you're seeing are the FINALE of the STUPID PEOPLE POLICIES that has brought this country to it's knees. For DECADES you Couldn't recognize a "LIAR".....sorry, Black people are NOT 'LIARS", Welfare receipiants, lazy, ignorant . That's the "LIES" that's been told to your ignorant arse.
Since Israel is the only country in the Middle East with WMD's, and spies in U.S. prisons, and can count on Uncle Sucker to continue to fund their Apartheid Welfare State, l feel sure they will be OK.
It doesn't take a genius to see Obama's destructive agenda. The ONLY reason him and the rest of the anti-American dems want to raise taxes on the rich is so they can continue their spending spree.
They have no intention of dealing with our massive debt.
Vote the scumbags out in 2012.
People like you fascinate me Robert. Unless you are wealthy, you gain nothing with the Republican agenda. In fact, you will lose most of what you supported your working life. Tell me more about this destructive agenda but anything not parroted on Fox News. Who got us into 2 unfunded wars? Who cut taxes for the wealthy and waged these wars? Who gives corporations welfare and ask them not to pay taxes, and to continue to ship jobs overseas and even receive tax breaks for doing so? Who refuses to deal with health care and to limit the obscene profits and coverage denials that insurance companies routinely deliver? People like you fascinate me because you cannot accept reality and that we live in a civilized society that cost money to support. You want it all but you don't want to pay a nickel more for it. You would rather see the elderly suffer and children go uneducated than to see your taxes raised. Also, don't tell me that your plutocratic rulers hold the key to the economy. They do not and will continue to invest their money in overseas operations rather than invest in America.
Joe, you are the fascinating one. Remember GWB had authorization to go to war and got support from many of the democrats that now seem to walk around blameless. In addition, how does one get a war "funded"? Does he save money in a rainy day fund waiting for a war to spend it on? We were attacked and we made decisions....WE MADE THEM ...Democrats included....The end result? Iraq is now on the road to democracy and we routed the Taliban in Afghanistan. Wanna blame someone for the deficit...look no further than the stimulus package that yeilded NOTHING....
Republicans and Tea Partiers say, "Extend tax cuts to the rich" and "Let the free market work it out" in order to create jobs. The problem is, the wealthiest of Americans take advantage of these tax cuts and horde their profits-they DO NOT create jobs.
Republicans then say, "Obama has failed on the ECONOMY-Unemployment is at 9.1%!!"
Well, "DUH!"
The rich Horde the money?? Really??.....The rich spend alot of that money keeping many people employed.....learn econ 101
Jay, that wasn't his only suggestion! He listed at least two other avenues that AMERICANS could and should take to meet or accomplish the goal of fixing our revenue problem! No 1. Pull down the BUSH tax cuts that have been in place for over 10 years; BTW, where are the jobs they were put in place for, that were supposed to be created? No 2. Stop sending taxpayer money in 'welfare' subsidies to BIG OIL! If you Repubs could bring yourselves to agree with those two, It would work! And I'm no mathematician!
Thank you Liz, for your answer. However I still have a problem with the situation. According to the New York Times the oil companies get a $4 billion a year tax break. Remind you that we have a short fall of $1.5 trillion per year. The oil money is only .2% of the deficit. Not two percent but point two. In addition according to Alan Colmes, the President Bush tax cuts amount to $80 billion per year. Or just 5% of the deficit. Even with both of these cuts we would still need $1,416,000,000,000 each year. That is 1.4 trillion dollars.
OK, so I agree, tax the oil companies, repeal the President Bush tax cuts, but what then? We are still short over about a trillion and half dollars each year. Honestly something has to be cut. If you have any other suggestions I would like to hear them.
Source for my quotes...
http://www.nytimes.com/2010/07/04/business/04bptax.html
http://www.alan.com/2010/12/05/preserving-bush-tax-cuts-for-rich-costs-60-billion-per-year-heres-what-eliminating-them-could-pay-for/
You have obviously done your homework . That's the most reasonable post I have seen in weeks !
1.4 trillion... I seem to remember just seeing that number... ohh yeah, the cost of WARS!
I'm so tired of all you complaing about how much these tax breaks that millionaires/billionaires are getting with regards to our budget amount to. It's still money we tax payers pay each year to people who don't need more of our money. The deficit this year is 1.4 Trillion dollars, so if we can get a few billion here, a few billion there it will surely trim our shortfall. I guess you don't know how to pay down your debt if you don't believe that 80 billion dollars in tax breaks will amount to much. Not to mention the top 2% get 90% of the wealth in this country yet ONLY pay 40-47% of the taxes. Either way you look at it, were still getting cheated out of 50%. Why must we pay for money that they receive? The Republicans don't care about everyday americans as is evident in how they scream no tax hikes in exchange for raising the debt limit, but funny that they're quick to pull money from medicare, education, SS, etc. Programs designed to help those LESS fortunate. And yes President Obama did extend the Bush tax cuts for 2 years, but that was in order to stop a govt. shut down and make sure our military families and unemployment benefits get paid. People who bleed for this country and others who've worked but were forced out by their wealthy bosses. These are the people you're standing up for? WOW. It just amazes me how stupid the American public is sometimes. These economic times have been in the making for the last 3 decades but seems some americans think that it was President Obama who created this problem. Yes he had to spend drastically to stave off another Great Depression who can't understand the reasoning behind that? But let some of ya'll tell it and he did this just for kicks. The reason the Great Depression lasted so long (ask any economist and they'll back this up) was due to a LACK of govt. action. History does not have to repeat itself if you study what didn't work and do something different. But most of you forgot about the Republican policies that got us into this mess and want to put the same people back in charge. Unions are not the problem, it's due to Unions that we have a minimum wage scale, 40 hr work week with weekends off(well most of us), as well as child labor laws. But let the Republicans tell it and it was because of unions the job market is so screwed up. Unions are in place to protect the little guy, President Obama is doing things to protect the little guy. Republicans want to step on our throats and cut off all circulation. Stop fighting the guy who'se fighting for yours and my behalf, not too many other's are fighting on our side. I'm done with my soap box. FYI. A rich person would rather see you burn to death than piss on you to put the fire out.
I"m with stupid....Your post is nonsensical and is steeped in theory on how to solve our economic problems that have proved to be worthless.....want an example? The spending spree of the 30's actually extended the Great Depression. Had it not been for WW II it would have extended well into the 1940's.
Racist, Bigot.
Where are the jobs they were brought in for ? Well we are talking about jobs that were created or saved by the bush tax cuts . You can question the results , but remember that "created or saved " is the talking point used by the current administration to cover the failed stimulus package . Maddening isn't it ?
Who are these anti american Obama haters? They rather cut off their noses to spite their faces. So sad. The republicans can care less about america. So sad. Where has my america gone? Oh . . . that's right, to hell in a hand basket.
YOU WRONG. I DON'T HATE OBAMA, I DON'T LIKE HIS LITTLE AGITATOR COMMUNIST POLICY AND HIS ACTION DESTRUCTION OF USA.
Yes Maikl, you do hate Obama, and can not honestly admit why. The republican party told us point blank, before Obama set down in his white house office chair, that they will do everything to undermine his presidency, Even if it meant America's demise. You are blinded by hate. You would vote for your captors (Republican party) then be free.
America is about Freedom and personal responsibility. Obama has done nothing for either. He signed a heap of dung loaded bills that have yet to do anything for anybody. No one has been pulled from poverty because of this man. He economic policies only threaten the world, when America goes, so does the world.
Is our economy recovering? NObama.
Has unemployment improved? NObama.
Is federal spending under control? NObama.
Are illegal immigrants being stopped? NObama.
Is America better off than we were two and half years ago? NObama.
Vote YES for Republicans in 2012.
That's been his problem: too much talking, blaming, fearmongering, lack of civility and fingerpointing. First rule of leadership: you're in charge. It's been three years and we're waiting for that to happen. 2008, too many voters were taken in by the hoopla and fanfare generated by the media in support of a more liberal agenda and it has worsened our country's status economically, politically, and militarily. 2012 is the opportunity for a "positive" change, not just settling for "change". Don't listen to the liberal fearmongering, get informed, and cast an educated vote this time, America.
AHAT HE'S SAYING HERE IS THAT HE IS NOT WILLING TYO SACRIFIZE THE MEDICAL CARE FOR ILLEGALS AND THE SCHOOLING OF ILLEGALS WITH NO COST TO THEM. HE STILL THINKS HE WILL GAIN VOTES THERE. THE DUMMY DOESN'T REALIZE HE IS A DEAD FISH NO MATTER WHAT HE COMES UP WITH. THIS TIME AROUND HE WILL NOT HAVE ENOUGH VOTED TO CARRY ON HIS NO GOVERNMENT. GET TOUGH. HE DOESN'T EVEN KNOW HOW TO SPELL THE WORD AND KNOW THE TEA PARTY AND THR E REPUBLICANS ARE NOW SACARED TO DEATH OF HIM. HE IS A PITIFUL ELEMENTARY SCHOOL STUDENT WHO IS NOT MAKING HIS GRADES.
Judging by Ibamaliar's grammar, obviously the U.S. education system needs more money, not less.
Boy aren't you an overfed monkey.
First of all, it was Eric Cantor that stormed out of the talks like a 6 year old that did not like the cupcakes served for his afternoon nap.
I will be the GOP that is remembered for this childish tactic and bringing the talks to an end and the world to a global depression.
And second, the President cannot do both his job in the Executive branch AND the Legislative branch, if so, who needs Congress? As was stated today, the debt crisis is not the ONLY thing on his to do list, it is on the House's. I see where the Senate gave up their vacation for the 4th, the House, not so much.
And last but not least, President Obama cannot continually be called upon to referee the House and it's game of "T-ball" politics!
What my vote BO ?
Redirect every penny from your PAC and Campaign funds into the US debt. The convince evey one of those whiny Senate pals of yours to do the same. Then I'll take you serious.
Well people, here we go again! I think CNN took the last whole thread down from last week or so, but you 'can't stop this' I see. God help us!
Biggest lier in the country and a person who is considered the worst in the world, the welfare prez, he may be your prez but he sure isnt mine.
Its about time the president step up to the plate. He has been allowing these dishonest reps to get away with too many things.
And thanks to the president for landing at Philly airport right at rush hour when the Phillies/Red Sox game was just ending, bringing South Philly to a complete standstill so he could satisfy his donor friends. Thanks Mr President!
You can always tell the utter stupidity of GOPee Pee's....They always fail to accept the fact that doing the same thing over and over again expecting a different result, is insanity. For instance, continuing tax cuts to the wealthy will stimulate the economy. These people are actually delusional, in believing these practices will facility the streaming in of jobs. Ronald Ray-Gun, even raised taxes. And secondly, after being led the past 8 years by an administration that openly said "deficits don't matter", practiced tax cuts during two wars (unprecedented), while taking a surplus to deficits, failing to capture the most wanted terrorist in the history of the world....WE'RE SUPPOSED TO LISTEN TO THESE DOLTS NOW?
Geesh...what is world coming to? Listen to the village idiots is now in vogue (?)
So Obama listed a whole lot of things that he won't sacrifice... has he mentioned a single thing that he IS willing to sacrifice? Sure the Republicans are being inflexible in refusing to raise taxes, but the Democrats are being just as inflexible by refusing to cut spending. Everyone is too scared of losing their jobs if they break from party ideology that no one is actually DOING their job.
Mr President is "Big Talk and no Action"–He hasn't got permission from the Chicago Connection to do anything yet. Doesn't know what to do anyway and his snot nosed Staffers haven't got a clue as to what the real world is and the effects their actions have on the everyday working stiff as well as the retries and fixed income people. Raising taxes is all he can think about. What the heck is that all about.
Fundraising, golf, vacation, campaign...what about FIXING the mess?
No Jobs
No Plan
No Clue
N0bama
“I won’t sacrifice rebuilding our roads, and our bridges, and our railways and our airports.”
Oh, you mean the shovel ready jobs in your stimulus plan which haven't started yet?
@no to prk obama; not your President? That's the same mindset or concensus of your Republican Party aka GOP, The Tea Party, The Con Nuts, The Right Wing Idiots, The White Supremasts and Racists, The Aryans, The Stupid People and Haters, The Limbaughs, Becks, Coulters, Ingrahams, The Foxnewsers, of ALL people, OBAMAS own base of Judases and Peterses, a bunch of Scary, Boo'ed down Democrats! I must say you're a member of a large obstructive society! Congratulations! However, it's still OBAMA/BIDEN 2012! LOL!
Jay, did not the President lay out a plan that gives us time to pay the national debt off, using those options to accomplish that BIG fete? I don't think he was talking about paying off that much debt in one or two years, did you? I heard him say 10 years one time and with some more REPUB anti-OBAMA plan adjustments, which I'm sure he tried to agree with to get something done on this issue, he said 20 years. Every dollar recouped per every year is what's going to pay it off!
But Liz, with a short fall of 1.4 trillion per year we are still losing money no matter how many years. Consider this, So far we are 4 trillion in debt from the time he took office. The same amount as President Bush spent in 8 years, if he is in office for 6 more years then we will be in debt a total of 22 trillion dollars. When President Bush left office we were 10 trillion in debt. Something has to give. The only way I can see it is we have to cut spending. But like I said before I am for raising taxes on the oil companies and on the ultra rich. It is a drop in the bucket compared to the 1.4 trillion in entitlement spending overage. But if that makes you guys happy, so be it, but we have to stop spending so much money.
I appreciate the fact that we were able to talk about it with out calling each other racist. Maybe we can work to actually solve the problems and not just complain.
It'll be alot easier to lower the deficit with more money going into the fed. Also getting rid of some of the needless govt agencies would help. End the failed drug wars and that's 18 billion/yr. in more revenue. Most of President Obama's 4 Trillion dollars in spending went to preventing our financial system from falling on it's face. Although I hated that, the reality is, it would have been alot harder for me to pay my bills if my direct deposit from my job got eaten up for bank debt. Same with the car co's. They do employ lots of people who'se tax revenue helps to create more jobs. Back in the day the rich were paying almost 90% in taxes and jobs were abundant. The problem is that all the wealth is concentrated in one area and the rest of us are fighting for 10%. Thats 98% of the country fighting for a bigger slice of 10%. Now does that clear things up for u? What we need is to balance the scale more cuz right now it's tipped the f*(k over. It wasn't our fault, we all work and pay our fair share, problem is the top 2% dont. Now they want us to give them more money to keep thier pockets fatter instead of giving the people that money so we can pay our bills and go shopping thus buying the goods they sell. Either way they getting paid, but giving the money back to the people means they have to work for it like the rest of us instead of getting a blank check from uncle sam.
The president talks about "4 trillion in cuts" so what would they be? Instead of calling names and comparing Corp Jets and a kids education (there is about a 60 billion difference in costs between these per year), lets hear how exactly they will come up with the savings after the get more $ from those "millionaires and billionaires" who can afford "a little more" (this would raise about $200 billion per year out of a 1.6 trillion deficit)?
You nailed Rob........best post....
GO Sara!
Yes, we made it through that one Jay, however, how is it that say the 1.4 trillion was the same amount Bush spent in 8 years and in the next few lines you say Bush left us with a deficit of 10 trillion? Which is it? I know it was the 10 trillion at least, but which do number do you mean to say? Which entitlements do you think should be cut from us people? MEDICARE from people who have paid into it all their work lives? Social Security from people who have paid into it all there work lives? Education? What?
Please let me clarify my statement. When President Bush took office the country was in debt $6 trillion. When he left after 8 years it was $10 trillion. After two years, under the current president the total deficit is a little over $14 trillion.
Currently we are over spending $1.5 trillion per year. This is the short fall that I was talking about, the yearly deficit.
Obama talks tough from a political fund raiser.
That about says everything you need to know. The country is on the brink of disaster and Obama is off pandering votes and money.
Jay, I've also said this some months ago. Whenever I've overdrawn my checking account because of math miscalculations or sometimes even negligence or forgetfulness to enter an action into my checkbook, I've always had to pay more to put my checking account back in balance! Fee for going up under the required balance; NSF fees, etc! Americas' checkbook was overdrawn under BUSH, so he started us on 'credit cards'. OBAMA's having to use credit cards to tide us over until CONGRESS quits BS-ing! A simple truth.
Liz......what are you talking about. Bush grew the deficit by 4 Trillion in 8 years and Barak grew it by another 4 Trillion in just 2 yrs......How?? A stimulus package that had no effect on the economy whatsover for starters. At least what Bush spent the money on has yeilded some results (Iraq is becoming a democracy and we routed the Taliban in Afghanistan). Unfortunately, Obama's spending spree has yielded nothing. He needs to stop his mindless spending spree...
Carlos – Bush wasted our money on unfunded wars & tax breaks for the wealthy, destroying our economy in the process.
Obama has been investing our money in order to restore our economy. If he hadn't, we would be in much worse shape.
I don't understand how Repugs expect the President to get us out of this mess without investing into infrastructure, alternative energy, education, and health care reform.
We can't defund our government and expect it to work for us. That is nothing more than mindless criticism.
Dems need to stop letting repubs run their show! Make the rich pay their fair share and stop stealing from the poor to make the rich richer.If they dont want to tax their multibillion dollar contributers than I say let them pay half of their taxPAYERS salaries to pay down the debt They the repubs caused!
@Marcus 911; I thankyou for your reasonable, honest post. Yours is one of the best ones on this thread! Personally, I can't understand why it's so hard for these other 'blog politicians' and strategists to accept this as the truth! At least it's a beginning at solving our debt national problem. It's like they just don't want to see it as such. The Repubs rather continue raising taxes on the working poor aka the little man, and abolishing as many 'entitlements' as the Dems will allow! It IS the AXIS OF EVIL!
@Disgusted@US; Good post to Carlos, I agree 100%. I have no comment to you Carlos, I stand by what I said!
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