Despite Previous Promises Obama Will Propose Another Budget Today That Projects the Deficit at $1.33 Trillion

In 2009 Barack Obama promised to cut the deficit in half by the end of his first term.
“We cannot simply spend as we please and defer the consequences to the next budget, administration or generation.”

Obama lied.
He has no intention of cutting the deficit.

(J. Hoft Chart)
In fact this year will be the fourth year in a row that the US deficit will top $1.1 trillion.
Another Obama record.

Today Barack Obama will give Congress a budget that projects the deficit at $1.33 trillion this fiscal year or 8.5 percent of gross domestic product.
Reuters reported:

Congress is free to ignore the president’s proposals and Republicans have said Obama’s budget will be dead on arrival.

“Jack Lew did the full tour of all five Sunday shows this morning, failing on each show to articulate how their upcoming budget would lift the crushing burden of debt,” said Gerrit Lansing, spokesman for House of Representatives Budget Committee Chairman Paul Ryan, a Republican.

President Barack Obama’s chief of staff, Jacob Lew, defended his boss on Sunday for failing to cut the U.S. budget deficit, making the election-year argument that now was the wrong time to impose austerity measures that could sap an economic recovery.

Republicans have slammed Democrat Obama for laying out a budget plan that raises taxes on the rich, which they view as designed to help his campaign for re-election on Nov. 6, rather than controlling the growth of the U.S. deficit and debt.

But Lew, speaking on Sunday television news shows on the eve of Obama’s 2013 budget proposal to Congress, said the plan would outline $4 trillion in 10 year deficit reductions, alongside measures to deliver essential suport to near-term growth.

“I think there is pretty broad agreement that the time for austerity is not today,” Lew, Obama’s budget chief until few weeks ago, told NBC’s “Meet the Press”…

…The budget, which will delivered to Congress on Monday, projects the deficit at $1.33 trillion this fiscal year or 8.5 percent of gross domestic product, declining to $901 billion, or 5.5 percent of GDP, in 2013.

Obama pledged in 2009 to have halved the deficit by next year, and his failure to deliver has provided Republicans with ammunition as they seek to deny him a second term by portraying him as old style tax and spend liberal.

“On this issue – the debt – this president has been completely AWOL. Republicans have had to fight tooth and nail for every dime in savings we’ve secured,”
Mitch McConnell, the top Republican in the U.S. Senate, said on Thursday.

Lew, however, argued that Obama’s deficit promise was made before he truly understood the depth of the recession he had inherited from Republican President George W. Bush.

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  • jorgen

    When at first you don’t succeed, keep making the same mistake again and again.

  • OCDick

    B-b-but BOOOOOOOOSH! [faints]

  • Sam Stone

    Any bets this budget follows his last budget and get a vote in the Senate 99-0?

  • It’s going to be amusing to see how the Democrats blame Bush for Obama’s budget.

    “EEEEEVIL Bush broke into the Oval Office and made Obama propose this budget!!”

  • dwd

    Why does it matter? A budget won’t pass… we’re already over 1000 days without one

    Get this guy out of office, then pass a budget ASAP and make sure to point out how long we’ve been without one and what it took to get one passed.

  • RedBeard

    The Blame Bush Meme is wearing a bit thin, Barry. You’ve had almost four years to “fix” the problems you claim you inherited. In the same amount of time, the U.S. managed to defeat the Nazis and the Japanese Empire, yet you can’t stop running trillion dollar deficits, where the only weapon you need is a friggin’ PEN? Give me a stinking break.

    Your record speaks for itself, Barry. Stop lying, sit down and shut up.

  • BuddyG

    This is 0bama’s fourth year in a row of deficit spending in excess of a trillion dollars and the knee-jerk response remains “Bush did it” “tax cuts for the rich…” “TARP…” “unfunded wars!” “blah blah blah”.

    So, facts don’t seem to matter. It comes down to who can shout their narritive louder and longer.

  • Liberty

    Where are all those jobs promised from the gwb tax cuts? The jobs werent created 10 years ago when initially proposed and the jobs arent there now. Remember? Tax cuts for the wealthy create jobs because rich people have more money to spend on hiring workers. FAIL. Demand creates jobs, not money.

    Its the tax cuts themselves that are the major reason we have such deficits. cant you see that?

    Its a clear example that the gop’s economic “plans” have nothing to do with benefiting the poor and working families of this country. BTW my tax cut is $89 per year. Woot!

    By all means, keep cheerleading for the wealthy. The poor pouls have been carrying such a burden, we need to help them out with even more free money at the expense of our grandkids.

  • Taqiyyotomist

    “I inherited this boat from the previous captain! See that one-inch hole in the bottom of the boat? Captain Bush did that! You know how I plan to fix this boat? I’M GONNA DRILL FOUR MORE HOLES!!”

    The stupid! IT BURNS!!

  • Mimsey

    Things are bad all over. The stock market is only at 13,000.

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  • Carbon Pootprint

    He’s a n Effing joke, a bad one but a joke just the same.

  • BuddyG

    A fifth of all Americans are now on the federal dole. Things are going badly indeed.

  • #1AMERICAN

    wouldn’t expect anything less from an illegal kenyan mooslime POS

  • west1890

    I have to agree with Ann Barnhardt’s recent description of the wannabe dictator occupying the WH….

    “. . .a crack-addled homosexual Indonesian national with a room-temperature I.Q.”
    http://barnhardt.biz/

  • Finncrisp

    Just following the plan. Collapse the system so the Marxists can bring us all under submission. There has been no budget passed in the Senate for 3 years, why should this year be any different?
    These incompetitant boobs are on the way out, doing as much damage as they can before they fall.

    I do hope voters are paying attention to this debacle.

  • jainphx

    He lies, and it isn’t second nature, its his persona. The whole Washington structure as it is today, is a lie, Take our money and give it to themselves through third parties. The richest place in the world is Washington and surrounds, and its our money. How much longer do we allow this to happen? Romney will only go along to get along, no we need a new start. We need Sarah or Rick. Old blue lips is strangling this countries economy, and Rush called it when he said “I hope he fails” knowing what he wanted to do and is doing. I spit in his direction.

  • bear

    The idiot lew was quoted as declaring, “…the time for austerity is not today.” He’s right! The time was over 3 years ago.

    The idiot lew has shown his ability to parrot the rioters and arsonists (commies to you lefty, anti-Americans out there) in Greece, where they KNOW they are broke, and STILL try to spend more money they don’t have, and are unlikely to obtain.

    The “progressives” not only insist on butchering the golden goose, but as that fails, decide the best action is to burn the building, too.

  • Rock

    “Jack Lew did the full tour of all five Sunday shows this morning, failing on each show to articulate how their upcoming budget would lift the crushing burden of debt,”

    Sure they will, right after WTF secures the borders, protects the Constitution, throws out Obama-Care, fires Holder, stops kissing Soro’s southern region, and drives down the cost of energy, Fracking AH each and every one.

  • Highlander

    Liberty commented:

    “Where are all those jobs promised from the gwb tax cuts? The jobs werent created 10 years ago when initially proposed and the jobs arent there now. Remember? Tax cuts for the wealthy create jobs because rich people have more money to spend on hiring workers. FAIL.”

    Liberty, if you will look closely at the graph, when the Bush tax cuts were implemented, the deficit went DOWN almost immediately. Why is that? Because those tax cuts INCREASED tax revenues as the economy surged. The sharp spike in the deficit in 2007 came as the impact of years of Democratic ignorance and foolishness collapsed our banking and home building industries and we had to bail out half of the nation’s financial sector. Thank God those tax cuts were implemented when they were, or we would have already been in a huge hole when that little disaster hit. Unfortunately, Obama took over at that point, and doubled down on the “redistribution” ignorance, digging the hole much deeper. Any fool can see the path out of this mess … that is, any fool who doesn’t have their head so far up Obama’s butt that they can’t see daylight …

  • Highlander

    Like it or not, Capitalism works if you just get out of the way and quit bleeding it dry to feed the parasites …

  • Mimsey

    High,

    You are an idiot. Less taxes brought in by the gummit does not equal more tax revenues. Get yer lies straight.

  • StrangernFiction

    How much longer do we allow this to happen? Romney will only go along to get along, no we need a new start. We need Sarah or Rick.

    And Sarah says Romneycare is a “great candidate.”

    We are sooooooooooooooooo screwed.

  • hermie

    Obama didn’t understand how bad things were?

    He was in the Senate for two years and supposedly knew so much that he was instantly qualified to be POTUS.

    If he had read the reports and memos that went to every US Senator he might have gotten a freaking clue as to the state of the economy.

    But I guess he just wanted to left alone so he could finish his waffles.

  • burt

    Soros hasn’t given Obama enough money to insure his re-election

  • Neo

    Here is a perfect example of our fiscal problems (never mind that the speaker is a Democrat):

    “This budget is a nervous breakdown on paper,” said Cleaver during an interview on CNN’s Starting Point Monday morning. “We’re still in a recession, we’re still struggling. Unemployment is still too high,” he said.
    The Missouri lawmaker said he understood the need for Congress to rein in spending. “We do have a serious ailment as a nation and certainly as Congress,” he said. “We suffer from ‘spendicitis.’” But Cleaver said the president was not “the one who spread this disease” and had inherited those problems when he came to office.
    While he praised Obama for attempting to tackle challenging fiscal issues, Cleaver feared GOP pressure “for the federal government to turn the spigot off completely” could push the nation “deeper” into economic turmoil.

    Now find the stereotypical BS:
    1) understands it is a serious ailment
    2) denial that it is their problem
    3) well OK, inheritied it, so should do nothing to fix it short term.
    4) present situation demands more
    These are classic symptoms of addiction.

  • wanumba

    Whoever gets elected to throw Obama out has to have a public ritual tear-down of those extremely offensive gold curtains.

  • Conservative Chemist

    Liberty commented:

    “Where are all those jobs promised from the gwb tax cuts? The jobs werent created 10 years ago when initially proposed and the jobs arent there now. Remember? Tax cuts for the wealthy create jobs because rich people have more money to spend on hiring workers. FAIL. Demand creates jobs, not money.”

    Then what do you think the wealthy do with the money they make, stuff it in a shoebox and hide it in their closet? No, they invest it, so they can make more money. The money that the rich invest is what buys the capital that businesses need to hire people.

    If I’m right, you probably think like most liberals and believe that for one person to make money, they must take it from others. Well this simply isn’t true. For example, when John Schnatter founded Papa John’s, did he force people to buy his products? Did he blackmail his growers into selling him cheap produce? No, using money, he created a product that filled a demand in his local area. With the money he made, he invested in more capital to make his business bigger and hire more people. Using basic capitalism, he grew his business. He filled a demand, certainly, but it was money that created the jobs.

  • kato

    He’s the greatest president our parasites have ever had. No wonder 95 percent of them will be voting for him in 2012.

    While Blowhard was buffaloing white liberals, including thousands of wet-behind-the-ears undergrads, with his hope-and-change jive act, the message apparently was getting out in the churches and clubs: Vote for the brother and the handouts will come a-rollin’ in.

    We’re now going to be paying for the houses they’re squatting in. And soon, we’ll be paying their BlowhardCare insurance premiums. Don’t ask how much they pay in taxes.

  • Slappy

    Mimsey (#22) commented:

    High,

    You are an idiot. Less taxes brought in by the gummit does not equal more tax revenues. Get yer lies straight.

    That’s rich. You’re calling somebody an idiot and accusing them of lying when your “logic” is the epitome of idiocy and they are telling the truth. We’re all used to this type of intellectual dishonesty and juvenile behavior from angry, sophomoric liberals like yourself.

    “Less taxes brought in by the gummit does not equal more tax revenues”? Talk about a moronic statement. After all, “taxes” and “tax revenues,” as used in your sentence, sound like the same things. I think you mean “lower tax rates,” not “less taxes.” Nonetheless, lower tax RATES (along with the elimination of some tax loopholes) created solid economic growth in the 2004-2007 timeframe during Bush’s presidency, resulting in more tax revenues, from both individuals and corporations. That’s a fact.

    http://www.taxpolicycenter.org/taxfacts/displayafact.cfm?Docid=203

    As even a moron like you can see at the link above, after the tax cuts for individuals under Bush in 2001 and 2003 were passed and fully implemented — which we’re now being falsely told by liars like you increased the deficit — revenues from individual income taxes went from $808 billion in 2004 after all the tax cuts were implemented, to $1.163 trillion in 2007 before dipping slightly to $1.146 trillion in 2008 following the collapse in the housing market and the economy, which had very little to nothing to do with tax policy, especially the tax cuts under Bush. As you can see, the corporation income taxes collected showed the same pattern of increase and decrease. But I’m sure you will continue to ignore the facts and stick to your idiotic “reasoning.”

    You want to argue that we should increase taxes to deal with the large deficits and debt we currently have, then make that argument. But stop trying to invent “facts” and ignore reality. A more sound approach would be to identify the rate of individual income taxes at which the tax revenues to the federal government start decreasing (i.e., the equilibrium point) and then advocate never letting tax rates drop below that point. Now that would be a novel approach, wouldn’t it?

  • jorgen

    #24 hermie commented:
    Obama didn’t understand how bad things were?

    Well, he is an inexperienced affirmative-action-president so it could well be true.

    However, he is lying. He is actively working on bankrupting the system so he can introduce a communist system. However, the situation in Greece ought to tell the Dems how such a system will end.

  • Obamermustgo

    cc,

    You are wise beyond your years. Yes sir, all us libruls believe what you have we should take. And take and take. We will not work for our money. Thats for fools. We just sit back and wait for our Great Leader to hand us money. Prefferably your money. Doesnt matter. It spends just the same as all other free money. Most of my free money goes to crack and well more crack. I live in Section 8 housing. I take the bus. I get Methadone from the clinic and food from the local church. If it werent for the kindness of strangers I might die.

  • tadcf

    As the chart indicates, the deficit began to decrease in 2011, and will continue to decrease as more and more of Obama’s health care package takes effect.

  • Blacque Jacques Shellacque

    Yeah, right. Sure. The guy’s going to cut the deficit in half after immediately tripling it. What a fraud.

  • Interesting

    I thought this comment worth posting here today:
    (Hey Jim Hoft.. maybe this would make a good thread of its own?
    Do please quote these statistics in future.)

    Who needs four more years.. by this reckoning.. that would be THREE MILLION more homeless and poor Americans, if the last term is anything to go by..

    America’s homeless resort to tent cities
    Monday, 13 February 2012

    Panorama’s Hilary Andersson comes face to face with the reality of poverty in America and finds that, for some, the last resort has become life in a tented encampment.

    Conditions are unhygienic. There are no toilets and electricity is only available in the one communal tent where the campers huddle around a wood stove for warmth in the heart of winter.

    Ice weighs down the roofs of tents, and rain regularly drips onto the sleeping campers’ faces.

    Tent cities have sprung up in and around at least 55 American cities – they represent the bleak reality of America’s poverty crisis.

    According to census data, 47 million Americans now live below the poverty line – the most in half a century – fuelled by several years of high unemployment.

    Depression-type poverty

    There are an estimated 5,000 people living in the dozens of camps that have sprung up across America.

    These tent cities – and this level of poverty – are images that many Americans associate with the Great Depression.

    Unemployment in America today has not reached the astronomical levels of the 1930s, but barring a short spike in 1982, it has not been this high since the Depression era.

    There are now 13 million unemployed Americans, which is three million more than when President Barack Obama was first elected.

    The stark reality is that many of them are people who very recently lived comfortable middle-class lives.

    For them, the economic downturn came too fast and many have been forced to trade their middle-class homes for lives in shelters, motels and at the far extreme, tented encampments.

    http://news.bbc.co.uk/panorama/hi/front_page/newsid_9694000/9694094.stm

  • Nelle

    So his chief of staff says that Obama made a monumental promise about the deficit to the whole country, before he even knew what he was talking about.

    So are we to believe he “truly understands” now, when he’s proposing a budget? Or when we blow a hole in that, will we be told he still didn’t “truly understand the depth of the recession he inherited”? And by the way, that “inherited” line after 3 years in office–exceedingly lame.

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  • jimg

    Things are bad all over. The stock market is only at 13,000.

    Which has absolutely nothing to do with the subject at hand.

  • jimg

    You are an idiot. Less taxes brought in by the gummit does not equal more tax revenues. Get yer lies straight.

    That’s rich. Calling somebody else an idiot when you don’t have the first clue about tax cuts and their impact on the revenue stream.

    I’ll write slowly so even a simpleton like you can understand it.

    Every. Time. Taxes. Have. Been. Cut. Tax. Revenues. Have. Increased.
    Every. Time.

    Happened when JFK did it. Happened when Reagan did it. Happened when George W. Bush did it.

    Every. Time.

  • jimg

    As I scroll back up the thread, I see somebody else already used the term ‘that’s rich’.

    Seems to fit considering the fool we’re responding to.

  • Blacque Jacques Shellacque

    Which has absolutely nothing to do with the subject at hand.

    Obie’s in trouble if the people that are recruited for his truth squads are anything like this “Mimsey” person.

  • Barrack’s Liberty

    #8

    Does Barrack realize you aren’t shopping for Moochelle Wookie rather than posting insane comments here. You’re supposed to spend 6,000 on new glitter sneakers and cahrge them to shovel ready projects fund. Get moving and then have the dog send on a jet to Hawaii to poop and bring her back.

  • Barrack’s Liberty

    #22

    Good one Mimsey, its a lie worth repeating despite the facts. Makes all the idiots and forever young at heart get that tingling feeling up their spines.

  • Barrack’s Liberty

    Interesting the Most Powerful and Great Barrack said the economy is getting better and that’s why he is fighting for an expansion and extension of unemployment benefits. Makes sense to me. Doesn’t it have the ring of truth for you?

  • #1AMERICAN

    @#44….. Hussein is a mooslime POS trying to rob from the rich and give handouts to people who should not even be breathing my air…let me guess do you even have a job…if so I guess you are working for the man that you so despise…get a clue

  • bg

    ++

    “a tyranny of the elite”

    February 12, 2012 via The Examiner

    ‘Takers’ overtake ‘makers,’ threatening American self-reliance

    Here are four facts that ought to scare the daylights out of every person who cares about preserving individual freedom, economic opportunity and American self-reliance. According to the Heritage Foundation’s latest Index of Dependency — which measures the degree to which individuals rely on benefits funded by the tax payments of other Americans — these four facts illustrate the reality that our country is losing the spirit of independence that is the heart of citizenship:

    • Takers get more than makers: Individuals received on average $32,748 worth of benefits annually in 2010, the most recent year for which full data is available. By comparison, the average personal disposable income of tax-paying Americans was $32,446.

    • More takers mean more costs for taxpayers: An estimated 67.3 million people in America depended on government for food stamps, retirement income, health care, job training and a host of other benefits. As a result, the dependency index rose 8.1 percent in 2010 over 2009, at a cost to taxpayers of $2.5 trillion.

    • Fewer makers to support each taker: Just as former British Prime Minister Margaret Thatcher predicted, sooner or later the entitlement state runs out of other peoples’ money to redistribute. In 2010, nearly half — 49.5 percent — of all adult Americans paid no federal income taxes. This is a prescription for an economic imbalance similar to the one that has paralyzed Greece.

    • Ranks of the takers are exploding: The baby boomer generation has begun retiring and within the next 25 years their ranks will swell to more than 70 million. Virtually all of them will depend on government for many benefits. This means the Dependency Index is headed higher, even if major entitlement programs like Social Security, Medicare and Medicaid are reformed now.

    As disturbing as these facts are, they only scratch the surface of a problem that Heritage has been tracking since 2002. The index is unique because is measures multiple factors associated with the cost of providing government benefits, as well as the scope of their distribution, using 1962 as a baseline. As Heritage’s Bill Beach and Patrick Tyrrell explain, “the index score has grown by more than 15 times its original amount. This means that, keeping inflation neutral in the calculations, more than 15 times the resources were committed to paying for people who depend on government in 2010 than in 1962.”

    Alexis de Tocqueville reputedly said that the American republic will last only “until the majority discovers it can vote itself largess out of the public treasury.” Indeed, political philosophers have warned since Aristotle that the worst flaw of democracy is the tendency of the majority to oppress the minority. That is what happens when takers become the majority and use their political power to force makers to hand over the fruit of their labor in the form of taxes. The time remaining for America to reverse this debilitating ratio is rapidly disappearing.

    ==

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  • Obamas regulation destroy jobs

    #39 I do not get it why is that so hard for them to understand???? Look at Chicago and MD liberal ..states. If you RAISE taxes..you have LESS money. You cant buy STUFF
    Da government spends yo money on the Presidents Vacation’s..80 golf games.

    When people stop buying stuff..stores shutdown….they all shutdown. When you tax the RICH they leave and take their money with them…business leave….the rich are leaving the US..

    When you lower TAXES you have MO money…

    The RICH open MO companies…and people get hired and people buy MO stuff..

    After ALL the rich leave the US you have empty buildings, poverty…no food, no homes,
    look at Africa…look at Cuba…

    The poor need work VOUCHERs and they get training and get jobs, training..get off rolls.
    when its over its over..

  • bg

    ++

    January 12, 2012

    GOP U.S. Senate candidate Miller adopts
    9-9-9, gets Herman Cain’s endorsement

    February 10, 2012

    Herman Cain’s 9-9-9 Goes Worldwide:
    Meets With Japanese Tea arty Leaders

    Yesterday afternoon I got a phone call from one of Herman Cain’s aides, asking if I could attend a meeting at 5 p.m. Well, sure, of course, but what was the meeting about? It was explained to me, and I was subsequently informed that I would be the only reporter in the room, at Mr. Cain’s specific request. The story was truly remarkable, and the exclusive is now online at The American Spectator:]

    ==

  • linked.

  • bg

    ++

    February 4, 2012

    Senate Democrats Say They’re Not Going
    To Pass A Budget In 2012 Either
    ❓ ❓ ❓

    [Congress hasn’t passed a budget since 2009, the first year
    of President Obama’s presidency. The nation (despite Senate
    Budget Committee Chairman Kent Conrad’s claims to the
    contrary) hasn’t had a budget for over 1,000 days now.

    And Senate Majority Leader Harry Reid is saying that
    2012 won’t see a budget passed by Congress either.]

    ==

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