Obama's $2 Trillion Dollar Budget Deficit

Obama Interest in our Economic Situation

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Obama’s concern in our economy is amazing. When he accepted private funding to support his political campaign he pulled out all stops in achieving the most outstanding collection of campaign funding in history not caring that the contributions coming from the corporate elite will be passed back to us through increased consumer prices creating inflation. We wonder why our health care, education, automotive, legal fees, insurance, construction and entertainment costs alone keep going up, considering the fact that over $99 billion dollars was received as campaign contributions from these businesses and organizations hoping to influence the political candidate’s vote in some fashion. Of $99 billion, Obama received $57 billion dollars more in excessive campaign contributions.

Someone so overly concerned about the loss of jobs to millions of people, instructs us to cut back on energy (heat and electric, excessive travel which consumes gas and whatever else we can cut back on, yet he spends $30,000 for a vacation in Hawaii. Is this reflective of his concern for the lower and middle class people when he takes such an extravagant vacation when a less expensive one would have demonstrated more of his concern towards the financial crisis drastically affecting numerous businesses and loss of homes

and jobs to the American people/ The only people recession proof are the politicians who keep taking and spending our money like it is their own except we have to pay it back while they use loopholes to avoid paying their share. Who honestly paid for that vacation? Was it taken from the campaign contributions or privately from some organization, business, or even Fannie Mae/Freddie Max. Of course it would not really matter as I would not believe anything he says unless his whole financial picture was investigated.

With Obama’s extreme concern over the economics of our country one would think he would want to straighten out the economy issues as soon as possible especially since both he and the Democratic Party were primarily responsible for it. The Fannie Mae/Freddie Max disaster which starting becoming questionable as far back as 2005-2006 due to delaying legislation, exploded and created the financial crisis as critical as the Iraqi War. Their involvement for those who find it questionable, can easily be verified through the Financial Committee Meeting minutes readily accessible on the Internet, unless Obama convinces our government to remove it from public view.

Now he will put into place an enormous stimulus package which will put our country and ourselves in more debt to China and Japan forever due to the increased interest imposed.

He is no better than any other politician that has come before him, except they didn't falsify government documents or circumvent our constitution to gain the Presidential office. When he takes office he will be considered a "usurper" not deserving of my respect for anything of which he affixes his name.

Joanofard of PA @ Jan 10, 2009 06:34:19 AM

The Old Military Spending Bugaboo

" Maybe if the Bush administration had not spent 1 trillion dollars a year on the military for the past 8 years the budget deficit would not be a problem. Just a thought."

If Barry want to slash that budget, he has a free hand to do so, doesn't he?

The actual Defense Department budget is around $500 billion - you reach your $1 trillion figure by adding in spending on Veterans Affairs, State Department functions, Homeland security, and the like.

Go for it - eliminate Veterans Benefits, Homeland Security, the Treasury Department's Military Retirement Fund, the State Department, plus programs in NASA and the DOE budgets.

Barry won't touch a dime of that spending, just as Bush wouldn't touch it. So let's not cloud the facts by pretending that this sort of spending is Bush's fault.

Fiscal year 2002 saw a Defense budget of $329 billion. In 2009, the budget request is for $494 billion. Total spending for the eight years comes to $3.407 trillion. http://www.infoplease.com/ipa/A0904490.html

Total overall costs for the war in Iraq is estimated at around $1.5 trillion. http://www.nytimes.com/2007/01/17/business/17leonhardt.html

Add it up and you get $5 trillion. Subtract that from the claim that $8 trillion has been spent and that makes Casey full of it by about $3 trillion.

In any case, Military outlays for the 2009 budget are slated to be $515 billion, up from $481 billion in 2008's budget. (+ $34 billion or 7.1%). The budget deficit for 2008 was determined by CBO to be $455 billion. How does a $34 billion increase in defense spending transform into a $1.5 trillion increase in the deficit?

The budget as a whole is a disaster, as is the tax structure, which is designed to be just about as unstable as possible in terms of raising revenue consistently (broadly levied payroll taxes are slated to RISE in the next fiscal year while narrowly levied income taxes are slated to COLLAPSE). We need wholistic fixes on both fronts - fat chance of that happening.

Dean of MN @ Jan 09, 2009 12:20:59 PM

Military spending

Maybe if the Bush administration had not spent 1 trillion

dollars a year on the military for the past 8 years the

budget deficit would not be a problem. Just a thought.

Casey Jacobs of GA @ Jan 09, 2009 10:53:10 AM

Robert Obama

President elect Obama is looking more like a young Robert Mugabe every day.

Mark of WI @ Jan 09, 2009 09:22:27 AM

The tuth about Govt

What good is there in keeping the truth from the American people? I believe it starts in our younger years at the point when we enter school. 1.) Can we agree that money drives the Capitolistic system? 2.) Can we agree that budgets affect us at the base level (Family Unit)? 3.) That unlike Religion, Politics, Cultural Values & opinions; learning about money management benefits people by empowering us; affording us to become A) More productive B) More responsible C) More stable D) Better educated about our society and our role in it E) Better citizens. Then why do the Well-Off hide the truth of Money Management by not teaching these fundamentals in school?

Next, do the Money Changers believe that we are so ignorant that in the last 200+ years of American History we will fall prey to their selfish and destructive plan? Will we sit back and helplessly watch them USURP our system of trade/compensation?

Allow me to INVOKE your support by first asking you a series of Q's. 1) Who do we owe our National debt to? 2) How much is our National debt to date? 3) Who is responsible for the handling of our National budget? 4) Is there anything in the Constitution (Article or Amendments) that speaks of- balancing our yearly budget and setting an expendature amount? Just do a little research using the internet to find out the answers!

Can we unite to a common cause of demanding a national education program so as to properly keep our Elected Officials in check? Can the media assist our cause to expose waste in simple terms with our Congress? Can we take back our Country before we lose it to finantial slavery?

Protector of AZ @ Jan 09, 2009 09:18:11 AM