Barack O-Bankruptus’ Budget: Stake Through America’s Heart

Here are some facts about the new Obama budget that should just piss you off.

  • President Obama just submitted a $3.8 trillion budget
    • the largest federal budget EVER
    • $700 billion larger than Pres. George W. Bush’s last budget
    • TWICE the size of Pres. Bill Clinton’s last budget of $1.9 trillion
    • The projected deficit of that budget would be $1.6 trillion

Yet does the All Barack Channel (ABC), the New Barack Channel (NBC), or Consistent Barack Supporter (CBS) speak out AT ALL about this record spending?  Do they call it irresponsible?  Do they say he is spending too much?  NOT ON YOUR LIFE!  He’s ‘the one,’ the m-O-ssiah, Chairman Maobama, JoBama Stalin.  They won’t question him for one second, because they share his values and agenda.  And what’s worse, they cover up and/or spin the truth and paint him as a ‘fiscal conservative.’

The idiots in the media, and the one economist out of millions who actually believes that government created jobs create wealth or stimulate the economy are lying saying that the hundreds of billions of dollars Obama plans to spend will ‘spur job growth.’  It will only stimulate GOVERNMENT job growth.

These same purveyors of Obama propaganda quote Obama who said:

The bottom line is this. We simply cannot continue to spend as if deficits don’t have consequences, as if waste doesn’t matter, as if the hard-earned tax dollars of the American people can be treated like Monopoly money.”

Does any of these propagandists address the fact that Obama’s budget does EXACTLY what he is saying we ‘cannot continue’ to do?  Not on your life.

Are any of them reporting that in one single year, Obama has increased discretionary spending nearly 85%?  Are they reporting the hypocrisy of then saying he wants to ‘freeze’ spending at these unsustainable, bloated levels?  Not a peep.

These propagandists report favorably on Obama’s budget and quoted administration officials (Obama, budget director Peter Orszag, press secretary Robert Gibbs) a number of times, but mostly ignored tax or economic experts critical of the budget.

To top it all off, Obama’s budget is based on many faulty assumptions.

  • Bush proposed spending at a rate that would rise to $2.71 trillion by 2011
    • Projections missed the mark and spending actually hit $3 trillion by 2008
    • Bush/Cheney spent $916 billion more annually by 2009 than they had planned
    • Obama’s budget figures passage of health care reform (which is currently in limbo) into the budget
    • The costs of Cap-and-Trade, which he intends to pass, are not figured into his budget
    • Obama’s budget assumes an economic growth rate of 3% per year plus inflation
      • This ignores a historic rate of 2.89% since 1980, and the current and projected state of our economy

So while Obama is spending money like a sex addict with a bottomless checkbook at the Moonlite BunnyRanch, what is he telling Americans about tough times?

When times are tough, you tighten your belts.  You don’t go buying a boat when you can barely pay your mortgage.  You don’t blow a bunch of cash on Vegas when you’re trying to save for college. You prioritize. You make tough choices.”

He made these statements in front of a crowd at a Nashua, NH highschool.

WHAT A FREAKING HYPOCRITE!

He is personally living it up, partying his skinny little Kenyan a$$ off at taxpayer expense, and jet-setting all over the world unnecessarily while Americans are sliding into poverty by the millions.  He flies in for a photo op, says “I understand,” and hops back on AF1, at a cost of thousands of dollars per flight hour, so he can make it back to the crib for the latest party, with entertainment provided by big name rock bands.

Ladies and gentlemen, this is much more than just a budget. It is a blue print for fundamentally changing America from a representative republic to a socialist/communist nation.

How will the Obama budget impact you directly?  Here are a few examples.

  • Obama will let the Bush tax cuts expire (this is a tax increase)
  • Obama’s stated tax focus on people making over $250,000 per year is a lie.  Many of these are small business corporations filing as individuals who personally take home less than $70,000 per year.  Their corporation may gross $250K, but most of that goes to expenses and wages for employees.  These businesses will close their doors when hit by these new taxes.

Middle class family backdoor tax increases

  • George W. Bush 2001 targeted tax provision.
    • Lowered individual tax rates
    • Slashed capital gains taxes
    • Scaled back estate tax (death tax) to zero
    • Democrats call this tax cuts for the ‘wealthiest Americans’
    • If these provisions are allowed to expire in December 31st, 2010 as Obama plans,
      • 10% tax bracket that existed under G.W. Bush will no longer exist
      • 25% tax bracket will increase to 28% (rich people, huh?)
      • 28% tax bracket will increase to 31%
      • 33% tax bracket will increase to 36%
      • Top tier personal income tax rate will rise from 35% to 39.6%
      • Estate (death) tax will go from 0% under Bush’s cuts in 2010 to 55% of everything you will to someone
        • Oh, by the way, all of this has already been taxed at least once by the government when it was earned in the first place
  • Investors, (anyone who has a 401K, IRA, Union retirement account, or retirement account of any kind is considered an ‘investor’) tax on dividends will increase from 15% to 39.6%
  • Capital Gains tax will increase from 15% to 20%
    • This will freeze money because no one will want to pay more than twice the penalty on their dividends
    • Say goodbye to the stock market
    • Congress also failed to renew the Alternative Minimum Tax ‘patch’
      • AMT originally intended to keep the VERY rich from avoiding income taxes
      • Some wealthy people were FOLLOWING THE TAX LAWS AS WRITTEN BY CONGRESS and were able to write off so much stuff that they owed no taxes
      • Congress acting on anger and class envy imposed the AMT
      • It has never been indexed for inflation, so now it applies to millions of Americans that it should not apply to
        • The government KNEW what they were doing when they did this.  They have been reluctant to correct their ‘mistake’ because it has become such a large source of income for the government
  • Without renewing the patch, people with incomes as low as $33,000 will be affected
    • That means that if you earn more than $33,000 you are ‘rich’ under Obama’s definition
    • $250 teacher tax credit for buying classroom supplies will go away
      • School systems are receiving between $9,000 and $18,000 per student depending on the district which is being wasted in everything BUT the student
      • Dedicated teachers are paying for basic needs for their students from their own inadequate salaries
      • Taxpayers who itemize will lose ability to deduct state and local sales tax
      • Taxpayers who DON’T itemize will no longer be able to increase their standard deduction by up to $1,000 for property taxes paid
      • Tax deduction for up to $4,000 of college tuition and expenses: GONE
      • First $2,400 of UNEMPLOYMENT BENEFITS will now be TAXABLE
        • These were tax free under the Bush plan through 2009
        • Obama wants to eliminate the home mortgage deduction for people make over $250K/year
          • This will drive the final stake through the housing market
          • Construction, landscaping, housekeeping, and other jobs associated with these homes will disappear
          • People buy expensive houses so they can write them off

Ladies and gentlemen, this is tyranny worth fighting over. You and I are about to be enslaved, and our country destroyed by the whims of a communist president, and his willing accomplices in the house and senate. He has already sold us to China, who now dictates Obama’s policies and actions. We are now number 2 or 3 in the world economically, and soon to be militarily. He must be stopped.

We are approaching the tipping point, the precipice, the point of no return. If this agenda, and these people are not stopped from finishing the destruction of our constitution and our economy, we are soon to see a collapse of America that will make the “Great Depression” look like the “good ole’ days.” Your wheelbarrow full of money will not buy you a loaf of bread, and the cities like New York and LA will be charnel houses of anarchy because those people are completely dependent on outside sources for EVERYTHING they have.

Stop him now. Stop him before it’s too late. Stand together and save America.

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3 Responses

  1. Great Post! Ironic isn’t it, that President Obama speaks of exercising discipline on money matters to aid the people,but in the end instead of helping makes things worst. Especially now with what he proposes seeing from the facts posted above, God help us on what is in stored for the American people.

  2. Reinstituting PAYGO, which was put in during Bush 41 (not during Clinton’s term), is a good start. It will help box in spending or make politicians actually increase taxes if they are going to increase spending. All of you who think this is a ploy to increase taxes are absolutely correct. Taxes are going up because there is no way spending is going down…….because the people say they want lower spending, but they really don’t mean it. What they want is less spending on programs that don’t benefit them personally in some way. Once the element of logrolling is introduced, everybody gets their favored programs. The GOP gets tax breaks for business and greater defense spending and the Dems get their social programs. If either the GOP or the Dems had to unilaterally and honestly come out and say which programs they would cut to balance the budget if they were in power, they would lose a lot of seats in both houses of Congress. So why be honest with the voters?

  3. The thing about PAYGO as currently presented by Obama and the democrats is that it only applies to a fraction of the budget. It sounds good to the uninitiated, but in reality does absolutely nothing to cut spending. The democrats falsely equate tax cuts to budget deficits. It’s not the tax cuts that caused the deficits, it’s the increases in spending from both parties that went along with the cuts. Tax cuts by themselves have historically been proven to stimulate job growth and actually INCREASE tax revenues due to increased levels of spending coming from more disposable income.

    You’re right about the political approach to spending cuts. That’s why we don’t need democrats OR republicans in office. We need CONSERVATIVES. We need people who will stick to the constitution and make the tough calls. We need people who will remain accountable to the people who elect them. That’s why I think we need to join and support movements like the Tea Party Movement (It’s a movement, not a party. Anyone who claims to be the head of the Tea Party is a usurper and a liar.) Another idea that is rapidly taking off is the Get Out of Our House movement. It is related to the Tea Party in the sense that it demands accountability from candidates, and is implementing a plan to see that it happens. Learn more here> http://goooh.com/

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