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  • President Obama Loves Spending Money

    Feb 09, 2009 - Washington, District of Columbia, USA - President BARACK OBAMA speaks to the media in the East Room of the White House at his first news conference as President. Obama’s focus during the conference was the status of the Economic Recovery Plan and the economy.

    During his first press conference this Monday President Barack Obama said:

    Look, I would love not to have to spend money right now. This notion that somehow I came in here just ginned up to spend $800 billion, that wasn’t — that wasn’t how I envisioned my presidency beginning.

    Really? Then why is the only thing Obama is fighting for in the conference between the House and Senate versions of the stimulus bill is the new spending? The Wall Street Journal reports:

    The White House is seeking to restore funding cut by the Senate for schools, health insurance and computerizing health records as the economic-stimulus plan headed into a final round of negotiations in Congress, with top lawmakers struggling to bring the price of the two-year package down to $800 billion.

    To make room for added spending, the White House, joined by House Democratic leaders, is pressing to scale back certain Senate-passed tax breaks, including measures intended to boost auto and home sales.

    Eliminating tax cuts so that the plan can include more spending. If that isn’t proof that President Obama hates to spend money we don’t know what is.

    Posted in Ongoing Priorities [slideshow_deploy]

    10 Responses to President Obama Loves Spending Money

    1. Ozzy6900, CT says:

      Eliminating tax cuts is only the first step in the Great Redistribution of Wealth! The next step is to push the American People to becoming totally dependent on the Government. Finally, this will bring down the entire Capitalist System. Once this is complete, enter the USSA (United Socialist States of America). Two hundred and thirty four years ago, the Colonists were faced with similar circumstances…. how did they respond?

    2. Lyn, fromwembleypark says:

      More people need to read what is in the stimulus proposal. Don't just listen to the Democrats. They are like parrots or a broken record. Obama's words and the Democrats' words are misleading. Their stimulus bill is a fraud.

    3. Dan Murphy, Tennesse says:

      At what point does all of this insanity erupt into another civil war?

    4. Dan, Milwaukee, WI says:

      Who really loves spending? Lets get the record straight.

      When Reagan took office in 1981, the national debt stood at $995 billion. Twelve years later, by the end of George H.W. Bush’s presidency, it had exploded to $4 trillion. Reagan was a “B” grade movie actor and a doddering, probably clinically senile president, but he was a sheer genius at rewarding his friends by saddling other people with debts.

      Bill Clinton reversed Reagan’s course, raising taxes on the wealthy, and lowering them for the working and middle classes. This produced the longest sustained economic expansion in American history. Importantly, it also produced budgetary surpluses allowing the government to begin paying down the crippling debt begun under Reagan. In 2000, Clinton’s last year, the surplus amounted to $236 billion. The forecast ten year surplus stood at $5.6 trillion. It was the last black ink America would see for decades, perhaps forever.

      George W. Bush immediately reversed Clinton’s policy in order to revive Reagan’s, once again showering an embarrassment of riches on the already most embarrassingly rich, his “base” as he calls them. He ladled out some $630 billion in tax cuts to the top 1% of income earners. In true Republican fashion, they returned the favor by investing over $200 million to ensure Bush’s re-election. Do the math. A $630 billion return on a $200 million investment: $3,160 for $1. I’ll give you $3,160. All I ask is that you give me $1 back so I can keep the goodness flowing. Do we have a deal? Republicans know return on investment.

      But the cost to the public has been a return to the exploding deficits of the Reagan years. Bush blew through Clinton’s surplus in his first year. The 2004 deficit reached $415 billion, a record. Still, its real size is masked by the fact that Bush has shifted $150 billion from the Social Security trust fund in order to make the shortfall look smaller. It’s like pretending you’re richer when you move money from one pocket to another. Both sums have to be repaid, so the real amount borrowed is the $415 billion “nominal” deficit plus the $150 billion from Social Security or $565 billion.

      It looks to me that Republicans love to spend our tax dollars.

    5. Barb -mn says:

      Of course Obama loves to spend money… OTHER PEOPLES'. He is a big part of the plan. Probably started when he was eight. Forget about ALL. He has his peeps he will raise above all as he has undying love and respect for this country. Also undying bias and racism.

    6. Barb -mn says:

      Obama could give up his pay and live off the amenities.

    7. Ozzy6900, CT says:

      Dan, you really need to re-check your information. President Reagan came into a recession that was caused by the bumbling of President Carter. His policies turned the situation around and the recession ended. His Democratic House & Senate spent like drunken sailors. The tax breaks "for the rich" (for the 100,000th time) allowed the "rich" (you know, the people that own the businesses) to put shmucks like you and me back to work! President Clinton took away those tax breaks and jobs started to dwindle, costs went through the roof, and the market soared to unrealistic heights. Then everything came crashing down! Still, the House & Senate were spending like fools. Then came President Bush who re-reversed the tax breaks to the BUSINESSES and to those who provide jobs, also to the middle class (I was better off in 2007 than I was in 2001). But even with the Republican House and Senate, they continued to spend like no one's business.

      The real problem is that the Office of the President has limitations (2 terms of 4 years). The Offices of the Congress and Senate (the ones who make the laws and are DIRECTLY responsible for everything) have no limits. The same buffoons return year after year with no end in sight. THERE is your problem, Dan because no matter what the President wants, if it is not approved by the Hill, it doesn't get done!

      I don't expect one such as you to understand that lowering taxes across the board will help those down below but THAT is how the whole thing works. Want more proof? Go ask someone collecting welfare for a job and see how far you get! The economy does not grow from the bottom up, it grows from the top down. The rich provide the jobs for those below, not the other way around. And for your information, the "Bush Tax Cuts" were given in direct proportion to what you paid. If you paid more taxes, you got more back. It's simple arithmetic but whining Leftists do not see this. So I ask you as I did the other Leftists, if you were so against the tax breaks of President Bush, how hard did you attempt to return yours?

      I thought so!

    8. tpgow New jersey says:

      right on Ozzie6900 you got it right. Poor people don't give you jobs. They need to lower corporate taxes and capitol gains. you would see these companys start to hire again. The socialist left don't want that because they want control over it's citzens lives. Obama is a phoney and a plant that was planned along time ago. He did not get my vote. They treat him like he is the second coming of the lord.

    9. Barb -mn says:

      I mean Ozzy. Sorry about that.

    10. Barb -mn says:

      I had a post before the one above that said "Ozzie your awesome." Then I wrote the above for correction. The post before didn't make it…just an explanation.

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