The Obama Administration released its new fiscal year 2012 budget for the federal government and it shows a projected $1.3 trillion deficit:
The projected deficit is higher than the $1.296 trillion deficit in 2011 and also slightly higher than a roughly $1.15 trillion projection released by the Congressional Budget Office last week. The budget, according to the documents, will forecast a $901 billion deficit for fiscal 2013, which would be equivalent to 5.5% of gross domestic product. That is up from the administration’s September forecast of a deficit of $833 billion, or 5.1% of GDP.
The White House’s projected 2012 deficit would be about 8.5% of GDP. The administration earlier this week said many of the projections in the budget request would be old by the time they were released Monday because the analysis occurred in November.
You will be pleased to know that the Administration is looking out for us by spending more on infrastructure and other “job creating” programs:
The budget includes more than $350 billion in short-term measures for job growth; a six-year, $476 billion proposal for roads and other surface-transportation projects; and more than $360 billion in savings in health programs such as Medicare and Medicaid.
This is why the Republican Party is so much better: they have proposed only a $260 billion infrastructure spending bill.
This chart showing the CBO analysis of future budgets:
This would be more truthful if it were flipped horizontally:
My heart aches for those of you who live in or near urban centers. You will be the first to feel the effects of the implosion. It could take years to get there, but it will happen as long as the two parties retain control. Get out while you can.
Could the massive deficit be the reason, why the Demcos do not past an annual budget?
“The budget includes more than $350 billion in short-term measures for job growth; a six-year, $476 billion proposal for roads and other surface-transportation projects”
That is $826 billion total.
PLEASE ADVISE; as in “Economic Solution 2012.Zero Income Taxes” by justaluckyfool would this work ?
Be the direct lender (not the stupid guarantor) to the corporations in the construction industry for loans in the amount of $1 trillion at 2%/yr for 36 years.
How would that increase job growth ?
How would that increase product growth ?
How would that increase revenues ?
How would that decrease deficit spending ?
?increase revenues,without increasing taxes ??
The constuction corporations would be paying
the taxpayers over $56 billion a year for 36 years.
No deficit increase because this is merely a transfer
of our own money into an asset.
On 60 minutes (12/11/11) ,President Obama said,”You can’t raise revenues by lowering taxes unless you get the money from somewhere else.”
AMERICA SHOW HIM THE WAY!
The only thing Obama is interested in, is creating his vision of a Totalirarian Socialistic Utopia over which he will preside. The only people who will win are those appointed and elected officials Obama uses as his power structure.
Citizens(serfs)will work and pay taxes(60%)of their income to pay for those that don’t work and never have. We have spent $1.6Billion giving these people cell phones with 250 minutes/month. This will continue until those that work decide they are not going to work and the whole system implodes. Another Roman Empire down the tube.
Travesty. What else is there to say.
[...] I don’t know if there are enough legislators in either party with the will to do anything about these twin terrors. Obama’s 2013 budget obviously makes no attempt to address either of these situations. On the contrary, it seems that the CEO of the ACME Economic Destruction Co. seems intent on making both situations worse. [...]
Hej, bardzo ciekawe informacje są podawane w tym miejscu
mam nadzieję, że będzie ich coraz ciekawszych. We need it coming more and more!