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    Senate Response: More Obama TAX & SPEND Budget LIES

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    Levitator
    BHo is using fuzzy math to create an inflated budgetary baseline (in other words he has inflated projected spending over a 10 year period) so he can claim cuts that don't exist. BHO has a lot to answer why his BASELINE IS SO INFLATED & planning to RAISE TAXES at a time of ECONOMIC PAINS. BHO’s budget has something called the “Bridge From Budget Enforcement Act Baseline to Adjusted Baseline.” This is the math theory used to CREATE the FICTION OF CUTTING THE DEFICIT. This document has a “Budget Enforcement Act Baseline” deficit of $5.5 trillion over the 2012-2021 period & adds in some calculations to inflate that deficit baseline. BHO is actually cutting the projected deficit using projections created by him. This is a great way to MAKE IT LOOK LIKE he is going to balance the budget in 2021, when he will be far away from the Oval Office & can't be blamed if his numbers do not pan out. BHO adds in a factor, the “indexing to inflation the 2011 parameters of the Alternative Minimum Tax” which adds $1.5 trillion to the Obama baseline. Then BHO's numbers crunchers add a continuation of the tax cuts for middle income taxpayers to the tune of $1.3 trillion. Please note that this projection does NOT calculate in an extension of tax cuts for job creators — its an projected INCREASE IN TAXES starting in the 1st year of BHO’s replacement. More BHO's math. Add in a $3.3 trillion in program adjustments & $642 billion in debt services on adjustments. Add in all of these projections to the baseline & you have adjusted the baseline from $5.5 trillion to $9.39 trillion in debt from 2012-2021. That is how you adjust debt upward to MAKE IT LOOK LIKE BHO’s budget is cutting spending. You INFLATE PROJECTED SPENDINGS over the next 10 years then increase spending at a lower rate than the baseline, you can CREATE A “CUT.” On taxes, BHO has hidden a MASSIVE INCREASE in the gas tax. There is a line item in BHO’s budget summary tables titled “Bipartisan financing for Transportation Trust Fund” that adds up to $328 billion from 2012-2021. BHO's Bipartisan Debt Commission Report has recommended a 15 cent increase in the gas tax. BHO's budget seems to assume that his commission's report is implemented by Congress & send to his desk. This is an implicit endorsement of a massive increase in the price of gas at the pump in the form of increasing the federal gas tax from $18.4 cents. If this idea does not pass, then you have a $328 billion shortfall in the projected transportation budget. BHO punted on entitlement reform & his promised decrease in corporate taxes. BHO budget reductions don't come close to the $4 trillion in savings recommended by the deficit commission. This is largely b/c BHO’s budget shies away from pushing for any substantial changes to entitlement programs Medicare, Medicaid or Social Security. Nor does it include a specific outline for overhauling corporate or individual tax codes. Other increased taxes includes an assumed expiration of tax cuts for job creators & an increase in taxes on energy producers. The plan includes tax increases for oil, gas and coal producers, investment managers & U.S.-based multinational corporations. It allow Bush-era tax cuts to expire at the end of 2012 for individuals making more than $200,000 & married couples making more than $250,000. Wealthy taxpayers would have their itemized deductions limited, including deductions for mortgage interest, charitable contributions & state and local taxes. You're going to hear the GOP on BHO’s budget “SPEND TOO MUCH, BORROW TOO MUCH & TAX TOO MUCH.” TRUE, now its up to Congress to use the power of the purse to put forth a budget that cuts spending, stops borrowing & No to tax increases. - Senate Budget Committee stated BHO has proposed $8.7 trillion in NEW SPENDINGS. Despite 2011’s $1.6 trillion deficit, BHO still REFUSE TO CHANGE COURSE & REDUCE SPENDING & CONTINUE TO INCREASE TAXES.

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    Senate Response: More Obama TAX & SPEND Budget LIES

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    Levitator
    56 views2 pages
    BHo is using fuzzy math to create an inflated budgetary baseline (in other words he has inflated projected spending over a 10 year period) so he can claim cuts that don't exist. BHO has a lot to answer why his BASELINE IS SO INFLATED & planning to RAISE TAXES at a time of ECONOMIC PAINS. BHO’s budget has something called the “Bridge From Budget Enforcement Act Baseline to Adjusted Baseline.” This is the math theory used to CREATE the FICTION OF CUTTING THE DEFICIT. This document has a “Budget Enforcement Act Baseline” deficit of $5.5 trillion over the 2012-2021 period & adds in some calculations to inflate that deficit baseline. BHO is actually cutting the projected deficit using projections created by him. This is a great way to MAKE IT LOOK LIKE he is going to balance the budget in 2021, when he will be far away from the Oval Office & can't be blamed if his numbers do not pan out. BHO adds in a factor, the “indexing to inflation the 2011 parameters of the Alternative Minimum Tax” which adds $1.5 trillion to the Obama baseline. Then BHO's numbers crunchers add a continuation of the tax cuts for middle income taxpayers to the tune of $1.3 trillion. Please note that this projection does NOT calculate in an extension of tax cuts for job creators — its an projected INCREASE IN TAXES starting in the 1st year of BHO’s replacement. More BHO's math. Add in a $3.3 trillion in program adjustments & $642 billion in debt services on adjustments. Add in all of these projections to the baseline & you have adjusted the baseline from $5.5 trillion to $9.39 trillion in debt from 2012-2021. That is how you adjust debt upward to MAKE IT LOOK LIKE BHO’s budget is cutting spending. You INFLATE PROJECTED SPENDINGS over the next 10 years then increase spending at a lower rate than the baseline, you can CREATE A “CUT.” On taxes, BHO has hidden a MASSIVE INCREASE in the gas tax. There is a line item in BHO’s budget summary tables titled “Bipartisan financing for Transportation Trust Fund” that adds up to $328 billion from 2012-2021. BHO's Bipartisan Debt Commission Report has recommended a 15 cent increase in the gas tax. BHO's budget seems to assume that his commission's report is implemented by Congress & send to his desk. This is an implicit endorsement of a massive increase in the price of gas at the pump in the form of increasing the federal gas tax from $18.4 cents. If this idea does not pass, then you have a $328 billion shortfall in the projected transportation budget. BHO punted on entitlement reform & his promised decrease in corporate taxes. BHO budget reductions don't come close to the $4 trillion in savings recommended by the deficit commission. This is largely b/c BHO’s budget shies away from pushing for any substantial changes to entitlement programs Medicare, Medicaid or Social Security. Nor does it include a specific outline for overhauling corporate or individual tax codes. Other increased taxes includes an assumed expiration of tax cuts for job creators & an increase in taxes on energy producers. The plan includes tax increases for oil, gas and coal producers, investment managers & U.S.-based multinational corporations. It allow Bush-era tax cuts to expire at the end of 2012 for individuals making more than $200,000 & married couples making more than $250,000. Wealthy taxpayers would have their itemized deductions limited, including deductions for mortgage interest, charitable contributions & state and local taxes. You're going to hear the GOP on BHO’s budget “SPEND TOO MUCH, BORROW TOO MUCH & TAX TOO MUCH.” TRUE, now its up to Congress to use the power of the purse to put forth a budget that cuts spending, stops borrowing & No to tax increases. - Senate Budget Committee stated BHO has proposed $8.7 trillion in NEW SPENDINGS. Despite 2011’s $1.6 trillion deficit, BHO still REFUSE TO CHANGE COURSE & REDUCE SPENDING & CONTINUE TO INCREASE TAXES.

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    BHo is using fuzzy math to create an inflated budgetary baseline (in other words he has inflated projected spending over a 10 year period) so he can claim cuts that don't exist. BHO has a lot to answer why his BASELINE IS SO INFLATED & planning to RAISE TAXES at a time of ECONOMIC PAINS. BHO’s budget has something called the “Bridge From Budget Enforcement Act Baseline to Adjusted Baseline.” This is the math theory used to CREATE the FICTION OF CUTTING THE DEFICIT. This document has a “Budget Enforcement Act Baseline” deficit of $5.5 trillion over the 2012-2021 period & adds in some calculations to inflate that deficit baseline. BHO is actually cutting the projected deficit using projections created by him. This is a great way to MAKE IT LOOK LIKE he is going to balance the budget in 2021, when he will be far away from the Oval Office & can't be blamed if his numbers do not pan out. BHO adds in a factor, the “indexing to inflation the 2011 parameters of the Alternative Minimum Tax” which adds $1.5 trillion to the Obama baseline. Then BHO's numbers crunchers add a continuation of the tax cuts for middle income taxpayers to the tune of $1.3 trillion. Please note that this projection does NOT calculate in an extension of tax cuts for job creators — its an projected INCREASE IN TAXES starting in the 1st year of BHO’s replacement. More BHO's math. Add in a $3.3 trillion in program adjustments & $642 billion in debt services on adjustments. Add in all of these projections to the baseline & you have adjusted the baseline from $5.5 trillion to $9.39 trillion in debt from 2012-2021. That is how you adjust debt upward to MAKE IT LOOK LIKE BHO’s budget is cutting spending. You INFLATE PROJECTED SPENDINGS over the next 10 years then increase spending at a lower rate than the baseline, you can CREATE A “CUT.” On taxes, BHO has hidden a MASSIVE INCREASE in the gas tax. There is a line item in BHO’s budget summary tables titled “Bipartisan financing for Transportation Trust Fund” that adds up to $328 billion from 2012-2021. BHO's Bipartisan Debt Commission Report has recommended a 15 cent increase in the gas tax. BHO's budget seems to assume that his commission's report is implemented by Congress & send to his desk. This is an implicit endorsement of a massive increase in the price of gas at the pump in the form of increasing the federal gas tax from $18.4 cents. If this idea does not pass, then you have a $328 billion shortfall in the projected transportation budget. BHO punted on entitlement reform & his promised decrease in corporate taxes. BHO budget reductions don't come close to the $4 trillion in savings recommended by the deficit commission. This is largely b/c BHO’s budget shies away from pushing for any substantial changes to entitlement programs Medicare, Medicaid or Social Security. Nor does it include a specific outline for overhauling corporate or individual tax codes. Other increased taxes includes an assumed expiration of tax cuts for job creators & an increase in taxes on energy producers. The plan includes tax increases for oil, gas and coal producers, investment managers & U.S.-based multinational corporations. It allow Bush-era tax cuts to expire at the end of 2012 for individuals making more than $200,000 & married couples making more than $250,000. Wealthy taxpayers would have their itemized deductions limited, including deductions for mortgage interest, charitable contributions & state and local taxes. You're going to hear the GOP on BHO’s budget “SPEND TOO MUCH, BORROW TOO MUCH & TAX TOO MUCH.” TRUE, now its up to Congress to use the power of the purse to put forth a budget that cuts spending, stops borrowing & No to tax increases. - Senate Budget Committee stated BHO has proposed $8.7 trillion in NEW SPENDINGS. Despite 2011’s $1.6 trillion deficit, BHO still REFUSE TO CHANGE COURSE & REDUCE SPENDING & CONTINUE TO INCREASE TAXES.

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    Senate Response: More Obama TAX & SPEND Budget LIES

    Uploaded by

    Levitator
    BHo is using fuzzy math to create an inflated budgetary baseline (in other words he has inflated projected spending over a 10 year period) so he can claim cuts that don't exist. BHO has a lot to answer why his BASELINE IS SO INFLATED & planning to RAISE TAXES at a time of ECONOMIC PAINS. BHO’s budget has something called the “Bridge From Budget Enforcement Act Baseline to Adjusted Baseline.” This is the math theory used to CREATE the FICTION OF CUTTING THE DEFICIT. This document has a “Budget Enforcement Act Baseline” deficit of $5.5 trillion over the 2012-2021 period & adds in some calculations to inflate that deficit baseline. BHO is actually cutting the projected deficit using projections created by him. This is a great way to MAKE IT LOOK LIKE he is going to balance the budget in 2021, when he will be far away from the Oval Office & can't be blamed if his numbers do not pan out. BHO adds in a factor, the “indexing to inflation the 2011 parameters of the Alternative Minimum Tax” which adds $1.5 trillion to the Obama baseline. Then BHO's numbers crunchers add a continuation of the tax cuts for middle income taxpayers to the tune of $1.3 trillion. Please note that this projection does NOT calculate in an extension of tax cuts for job creators — its an projected INCREASE IN TAXES starting in the 1st year of BHO’s replacement. More BHO's math. Add in a $3.3 trillion in program adjustments & $642 billion in debt services on adjustments. Add in all of these projections to the baseline & you have adjusted the baseline from $5.5 trillion to $9.39 trillion in debt from 2012-2021. That is how you adjust debt upward to MAKE IT LOOK LIKE BHO’s budget is cutting spending. You INFLATE PROJECTED SPENDINGS over the next 10 years then increase spending at a lower rate than the baseline, you can CREATE A “CUT.” On taxes, BHO has hidden a MASSIVE INCREASE in the gas tax. There is a line item in BHO’s budget summary tables titled “Bipartisan financing for Transportation Trust Fund” that adds up to $328 billion from 2012-2021. BHO's Bipartisan Debt Commission Report has recommended a 15 cent increase in the gas tax. BHO's budget seems to assume that his commission's report is implemented by Congress & send to his desk. This is an implicit endorsement of a massive increase in the price of gas at the pump in the form of increasing the federal gas tax from $18.4 cents. If this idea does not pass, then you have a $328 billion shortfall in the projected transportation budget. BHO punted on entitlement reform & his promised decrease in corporate taxes. BHO budget reductions don't come close to the $4 trillion in savings recommended by the deficit commission. This is largely b/c BHO’s budget shies away from pushing for any substantial changes to entitlement programs Medicare, Medicaid or Social Security. Nor does it include a specific outline for overhauling corporate or individual tax codes. Other increased taxes includes an assumed expiration of tax cuts for job creators & an increase in taxes on energy producers. The plan includes tax increases for oil, gas and coal producers, investment managers & U.S.-based multinational corporations. It allow Bush-era tax cuts to expire at the end of 2012 for individuals making more than $200,000 & married couples making more than $250,000. Wealthy taxpayers would have their itemized deductions limited, including deductions for mortgage interest, charitable contributions & state and local taxes. You're going to hear the GOP on BHO’s budget “SPEND TOO MUCH, BORROW TOO MUCH & TAX TOO MUCH.” TRUE, now its up to Congress to use the power of the purse to put forth a budget that cuts spending, stops borrowing & No to tax increases. - Senate Budget Committee stated BHO has proposed $8.7 trillion in NEW SPENDINGS. Despite 2011’s $1.6 trillion deficit, BHO still REFUSE TO CHANGE COURSE & REDUCE SPENDING & CONTINUE TO INCREASE TAXES.

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    House Budget Committee & Senate Budget Committee Republican

    Summary of President’s FY2012 Budget


    February 14, 2011

    THE PRESIDENT’S BUDGET SPENDS, TAXES, AND BORROWS TOO


    MUCH – STIFLING JOB GROWTH TODAY AND THREATENING OUR
    ECONOMIC FUTURE
    In challenging times, a chief executive must lead. But President Obama has failed to
    confront the fiscal and economic challenges before us. Instead, he continues down the
    same unsustainable path: growing the government, weakening the economy, and
    increasing the burden of debt on each and every American.

    Spends Too Much: $8.7 Trillion In New Spending


    Despite this year’s $1.6 trillion deficit, the president still refuses to change course and reduce spending.
    Under his budget, the size of government will nearly double since the day he took office. Ignoring both
    economists’ warnings and the public’s demands for restraint, the president’s explosive growth of
    government crushes private-sector investment, fuels uncertainty for job creators, and guarantees a less
    prosperous future for all Americans. The price tag of the president’s budget for the next ten years:

    Total spending: $46 trillion; $8.7 trillion in new spending


    New entitlement spending, beyond assumed growth: $404 billion
    Increase in non-defense discretionary spending since 2008: 24% (excluding stimulus)
    Increase in discretionary spending above president’s own deficit commission: $353 billion
    Spending this year under the president’s budget: Record $3.8 trillion; 25.3% of GDP (highest since WWII)

    Taxes Too Much: $1.6 Trillion In New Taxes


    The president’s big-government vision imposes a heavy cost: diminishing economic opportunity through
    massive tax hikes that depress wages and stifle job creation at a time when millions of Americans remain
    out of work. In total, the president’s budget imposes $1.6 trillion in new taxes on families, small businesses,
    and job creators, including:

    Income tax hike: $919 billion Death tax hike: $118 billion Transportation tax hike: $435 billion

    Borrows Too Much: $13 Trillion Added To The Debt


    Despite the urgent need to rein in our runaway debt, the president’s budget doubles debt held by the public
    by the end of his term and triples it by the end of the decade. Gross debt will eclipse the size of the entire
    economy this year and remain above 100% of GDP for every single year that follows. This crushing burden
    of debt is depressing economic growth today, yet the president’s budget fails to seriously meet this
    challenge and instead accelerates our country down the path to bankruptcy:

    New debt: $13 trillion


    Gross debt by end of decade: $26.3 trillion (107% of GDP)
    Annual interest payments by end of the decade: $844 billion
    Total interest payments on debt: $5.7 trillion

    A Failure Of Leadership
    The president’s budget represents an abdication of leadership by failing to address the drivers of our debt
    crisis and the unsustainability of our entitlement programs. He even ignores the recommendations of his
    own bipartisan fiscal commission while continuing to increase spending across the board. Instead of
    fulfilling his campaign promise to cut the deficit in half in his first term, the president’s budget doubles the
    debt over that same period of time. We are racing in the wrong direction and the president’s foot remains
    stuck on the pedal.

    The unsustainable growth of government dims the economic prospects of millions of Americas by
    reducing jobs, discouraging new investments, and threatening our nation’s financial security. The
    true cost of the president’s budget goes beyond the trillions of dollars squandered—it also includes
    lost opportunities for future Americans because this president chose to hide from tough choices
    and retreat from the principles that have made America great.

    ###

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