Pay as You Go?

[dapoes]

Talking about closing the barn door after the horses escape. In the first five months of this administration President Obama has tripled the size of an already bloated federal deficit.

WASHINGTON — President Barack Obama on Tuesday challenged Congress to pay for new increases in federal benefit programs as it goes rather than sink the nation deeper into a debt, calling it a matter of public responsibility. Republicans lashed back that Obama is no voice of fiscal restraint as the deficit soars.

The president's plan would require Congress to pay for new entitlement spending, such as health care, by raising taxes or coming up with budget cuts — a "pay-as-you-go" system that would have the force of law. Under the proposal, if new spending or tax reductions are not offset, there would be automatic cuts in so-called mandatory programs — although Social Security payments and some other programs would be exempt.

Not noted by the president: Tuesday's plan is a watered-down version of the so-called "PAYGO" rules proposed just last month in his own budget plan.

Shouldn't he have thought of this pay as you go thing BEFORE the porkulus, his massive budget or all of those bail out funds? At this rate the share of deficit owed by each man, woman and child will be over $150K by 2019.These Obama deficits are working their way to crippling the economy.

 

[southwind]

And we haven't even added in his "Universal Health Care Program", that just has to be passed immediately........................................or before 2010, when he loses the majority of Liberal/Socialistic Votes !

2010 can't get here fast enough to put an end to his madness ! :down:

 

[southwind]

Digging their hands even deeper into others pockets and lives !

"Make any personal calls on that company cell phone? That's a "fringe benefit" of your job, according to a 20-year-old law, and the IRS is looking to collect." :blink:

http://tech.yahoo.com/blogs/patterson/52878

"FAIR TAX"

 

[freedom]

let's review shall we ... without the TARP the banks would have most likely collapsed ... without the bailouts to GM and that smaller car company both of them might have collapsed during the hight of the crisis and fear ....

We averted sysmatic collapse .. the bailouts were both necessary and justified ... in essance we took care of what could have been a very quick collapse and traded it for a slower collapse , but at least we now have TIME to think ...

 

[southwind]

let's review shall we ... without the TARP the banks would have most likely collapsed ... without the bailouts to GM and that smaller car company both of them might have collapsed during the hight of the crisis and fear ....

We averted sysmatic collapse .. the bailouts were both necessary and justified ... in essance we took care of what could have been a very quick collapse and traded it for a slower collapse , but at least we now have TIME to think ...

Sorry Freedom but, this was just an excuse for Obama and his posse to get control and their greedy hands around the economy ! GOVERNMENT is the reason we're in this mess............Fannie & Freddy ring a bell?

GM should have went into bankruptcy, which they did anyways, from the beginning.....................there is life after bankruptcy, but what Nobama did was make it harder for Government Motors to get loans, since he and his Posse screwed over secured debt holders. Do you really think these people will EVER loan GM money again? Doubt it ! But guess who will loan Government Motors money..........by the truck-load ? That's right.............you and me ! :blink:

FYI: "The current federal income tax code is a 9 million word mess, and it cannot be reformed or restructured. It creates disadvantages for families wondering how to pay for their children's education, for small businesses struggling to pay the bills and meet payroll, for multinational businesses trying to compete in the global marketplace against lower priced goods from foreign countries, and for any U.S. citizen working hard everyday to achieve their American Dream.

No amount of tinkering with a portion of the tax code is going to fix it. It is too complicated. It is too unfair and inefficient. It discourages people from working harder to achieve upward economic mobility, which destroys hope and opportunity. The federal income tax code must be replaced, and it must be replaced with a national retail sales tax, also known as the "FairTax."

http://www.hermancain.com/economicfreedom-...edincometax.asp

 

[southwind]

Talking about closing the barn door after the horses escape. In the first five months of this administration President Obama has tripled the size of an already bloated federal deficit.



Shouldn't he have thought of this pay as you go thing BEFORE the porkulus, his massive budget or all of those bail out funds? At this rate the share of deficit owed by each man, woman and child will be over $150K by 2019.These Obama deficits are working their way to crippling the economy.

Can you imagine the outlash if a Republican had done this ? :blink:
We'd have rioting in the streets!

But since it was the "Annointed One", it's o.k.

 

[dapoes]

let's review shall we ... without the TARP the banks would have most likely collapsed (which they did anyway)... without the bailouts to GM and that smaller car company both of them might have collapsed during the hight of the crisis and fear ....(oh yeah you mean they cant go BK or the world will end. Guess what...they went BK anyways and Obama picks the winners and losers despite BK law)

We averted sysmatic collapse .. the bailouts were both necessary and justified ... in essance we took care of what could have been a very quick collapse and traded it for a slower collapse , but at least we now have TIME to think ... (you mean realize what a complete and utter disaster he put this country in?)