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.

 

Did Obama Help ISIS?

 

Disable Refresh for 30 Days

Cookies and JavaScript must be enabled for your setting to be saved.

1 2 3

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

  2. B-b-but BOOOOOOOOSH! [faints]

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

  4. 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!!”

  5. 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.

  6. 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.

  7. 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.

  8. 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.

  9. “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!!

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

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

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

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

  14. 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/

  15. 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.

  16. 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.

  17. 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.

  18. “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.

  19. 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 …



1 2 3


`

© Copyright 2014, TheGatewayPundit.com. All rights reserved.
Privacy Policy | Terms and Conditions