1.6(T) DEBT for the USA

Today President Obama announced the US Budget for the next year, the US tax payer found that the Obama Administration had finally shown it true colours, it will give the USA a debt of 1.6 trillion. The President stated following in remarks, " Our economy has lost 7 million jobs over the last two years. And our government is deeply in debt after what can only be described as a decade of profligacy. " The Obama White House seems to have forgotten its been in power for a year, it has spent like a drunk sailor, the problem is the credit cards belongs to the USA tax payer not the Chicago team in the White House. Then President then stated the following, " As a result, when I first walked through the door, the deficit stood at $1.3 trillion..." This Obama Budget will take that debt up to 1.6 Trillion, and he will raise taxes on those that can afford to spend money and thus boost consumer spending. The President stated his attempts to boost the economy, " So we initiated a rescue, and that rescue was not without significant cost; it added to the deficit as well. " The rescue failed, the President stated that if the Congress didn't pass his economic package the rate of those out of work would go beyond 8%, the Congress bought this con, the actual result is that those that are out of work is now at 10%, if you count those on part time work or have give up you would get a figure of 20%. Thus the Obama economic plan is a disaster, also the Congress could pass health care reform, this would also add to the deficit. An interesting view of the problems faced by the Government and the people of the USA, the President stated the following, " One year later, because of the steps we've taken, we're in a very different place. But we can't simply move beyond this crisis; we have to address the irresponsibility that led to it. And that includes the failure to rein in spending, as well a reliance on borrowing –- from Wall Street to Washington to Main Street –- to fuel our growth. That's what we have to change. We have to do what families across America are doing: Save where we can so that we can afford what we need. " Thus why did Obama spend a year on health care reform when the US could not afford it, why did he bail out in union friends at the car makers. Obama must really believe his own press statements. At least on the political front Obama is sticking to jobs, the President stated the following, " The budget includes new tax cuts for people who invest in small businesses, tax credits for small businesses that hire new workers, investments that will create jobs repairing roads and bridges, and tax breaks for retrofitting homes to save energy. " At least Oval has got the message, the voter wants the President to make jobs his major effort for the year. Also the Oval has got the message that Independent voters don't want stupid spending of their money, the President stated the following, " I've proposed a freeze in government spending for three years. This won't apply to the benefits folks get through Social Security, Medicaid, or Medicare. And it won't apply to our national security –- including benefits for veterans. But it will apply to all other discretionary government programs. And we're not simply photocopying last year's budget; freezing spending does not mean we won't cut what doesn't work to pay for what does. We have gone through every department's spending line by line, item by item, looking for inefficiency, duplication, and programs that have outlived their usefulness. That's how we freeze discretionary spending. Last year, we found $17 billion in cuts. This year, we've already found $20 billion. " The problem is that will 1.6 trillion of debt, any cuts are paper cuts, there has to be cuts in domestic spending or its all spin. The most ironic part of the statement by Obama is the following, " I welcome any idea, from Democrats and Republicans. What I will not welcome -– what I reject -– is the same old grandstanding when the cameras are on, and the same irresponsible budget policies when the cameras are off. It's time to hold Washington to the same standards families and businesses hold themselves. It's time to save what we can, spend what we must, and live within our means once again. " The President has been forced to listen, he has lost his 60 votes in the Senate, thus due to the Mass vote the Republicans if they hold together can hold up the Obama Agenda even block it, lets see how Obama deals with Republicans who can say NO and it gets them votes. Fun times ahead on the Hill folks.