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  • Morning Bell: An Admission of Failure

    It is established practice in Washington that if you have to release bad news, it is best to do it on a Friday … the later in the day the better. So not only did the White House schedule the publication of the “Mid-Session Budget Review” for last Friday, but they then released it three hours late to ensure that as few reporters as possible were left in the nation’s capital to cover it. But Heritage’s dedicated budget team patiently waited the Obama administration out, and their analysis shows that this year’s mid-session review is nothing short of a complete admission of failure of the White House’s economic policies.

    When President Obama sold his $862 billion economic stimulus to the American people, he promised that, if enacted, it would prevent unemployment from ever rising above 8%. With unemployment currently at 9.5%, the American people are now well aware that the President’s stimulus has been a complete failure. But Friday’s report was the first time this Administration was forced to admit just how long Americans will have to suffer for their failed economic policies. According to Friday’s report, the Obama administration now projects that unemployment will average 9% throughout all of next year and 8.1% throughout 2012.

    And if that news wasn’t bad enough, the report pegs this year’s budget deficit at $1.471 trillion, or 10% of the entire U.S. economy. In nominal dollars, it’s the largest deficit in American history; and as a percentage of the economy, it’s the largest deficit since World War II. To pay for that $1.471 trillion hole, our government will borrow 41 cents of every dollar it spends. And the Obama Administration concedes that these large deficits are here to stay. It projects another $1.42 trillion deficit in 2011, which is $150 billion worse than previously predicted. Looking ahead, the President’s budget includes deficits that never fall below $698 billion and leaves our children with $18.5 trillion in debt by 2020. And all this assumes the economy will grow 4% from 2012-2014. The only times the economy performed that well in the past thirty years was from 1997-2000 and from 1983-1985.

    These future deficits are driven almost exclusively by rising spending. As Heritage Foundation analyst Brian Riedl noted earlier this year: “Before the recession, federal spending totaled $24,000 per U.S. household. President Obama would hike it to $36,000 per household by 2020 — an inflation-adjusted $12,000-per-household expansion of government.” There is a way out of this deficit nightmare: stop spending. If the federal government managed to return to the per-household spending level of the Reagan administration, the budget would be balanced by 2012 without any tax hikes. Too ambitious? Just returning to the per-household spending levels that existed before the current recession would balance the budget by 2019.

    But that is not the route this President wants to take. President Obama wants to close the gap between what our government spends and what it takes in by raising taxes by $3 trillion. His Treasury secretary was on television yesterday claiming this massive tax tsunami would have no effect on economic growth. After last Friday’s Mid-Session Budget Review exposed the failure of this Administration’s economic stimulus claims, does anybody believe anything this Administration says anymore?

    Quick Hits:

    • Former Gov. Mitt Romney (R-MA) identifies Eight Problems with New START at NRO.
    • The day before President Barack Obama spoke to leftist activists in Las Vegas last weekend, former White House aide Van Jones told the same conference not to worry about deficits, that there are plenty of rich companies to raise taxes on, and “the only question is how to spend it.”
    • Senate Majority Leader Harry Reid told the same leftist activist conference, “We’re going to have a public option, It’s just a question of when.”
    • Former Sen. Tom Daschle (D-SD) who is not a lawyer, has earned millions of dollars working for a lobbying firm, but still has not registered as a lobbyist.
    • China has given Brazil $10 billion to develop offshore oil drilling projects and plans to invest another $240 billion.
    Posted in Ongoing Priorities [slideshow_deploy]

    101 Responses to Morning Bell: An Admission of Failure

    1. Robert Wilson, Maric says:

      Well this makes total sense to anyone paying attention. How would running up a bill on the Federal Credit make anyone believe spending was the answer?

      -Robert Wilson

      http://www.robertwilsonforcongress.com

    2. Barabara Burgess Mic says:

      Thank you Heritage Foundation for bringing us solid honest information from the conservative perspective. I feel better informed and more confident to support actioins and people.

    3. toledofan says:

      Watching what is going on in Washington is like watching kids trying to play government; if it wasn't so serious it would be like watching the Three Stooges. The ideology of this Administration is frightening because they have no idea of the unintended consequences that it will and is causing; the unemployment rate is a good example of how their policies have failed to spur the economy and create private secrtor jobs, raising taxes will make it worse. I guess when you put things into perspective, what they have done with the stimulus hasn't worked and raising taxes has proven time and time again not to work. So, what's an inexperienced President supposed to do, he masybe should try listening?

    4. Eddie says:

      After this stinging article anything I may add would just prove to be anticlimatic. Now that most Americans have figured out Washington math maybe it's time to cover the English language. Todays word is…..Impeach

    5. geronimo. Athens, GA says:

      Obama telling the truth? Have we slipped into a parallel dimension?

    6. Joanne Walczak says:

      One must have "Common Sense",and there does't seem to be

      any of that inWashington,DC. This has long been in the works to

      end our Republic,so just sit back and continue to watch this saga unfold. I will continue to vote and hope for people with Morals& Courage!!!

    7. Mary.... WI says:

      And still, this administration and Obama supporters blame Bush for the economic troubles this country continues to endure. It's so frustrating!!

      Nothing ever comes from kicking someone in the head repeatedly except death which is the direction this country is heading.

    8. Recruiter-CT says:

      If there is anyone left who doesn't believe that Obama and his entire administration are working hard to bankrupt and bring down the entire US economy, has not been paying attention! Obama's stated agenda from the beginning could only be described as a Marxist agenda, however, people bought into the "Hope and Change" message and didn't pay attention to the details of what was being said. If Obama and his entire administration is not replaced beginning with the November 2010 elections, get ready for the biggest American downfall in the history of our great nation. I'm completely saddened by what is happening and pray that it comes to an end.

    9. Don Harper, Lubbock, says:

      Taking $3 trillion out of the private sector economy for government to spend will have no effect on the economy??? Tim Geithner is an outright liar.

    10. Lloyd Scallan (New O says:

      Anyone with half a brain and is willing to accept facts knows full well Obama, and his lackeys, are delibertly deceiving the American people. They have an agenda! That agenda is to destroy our economical system to be replaced with socialism. They have made in abundantly clear that they will do or say anthing to "transform" this nation. We all must understand that the Dems, and almost all of the main-streamed media, has that same agenda.

    11. Darold Roseville, Ca says:

      The sooner the great Obama is out of office the better for the country. How dare the dems place politics before their country!! Stop kissing Obama's rear end and do what you were elected to do!!!!!!!!!!!!!!!!!!!!

    12. WHICH WAY says:

      WE NEED TO UNDERSTAND WHAT SPENDING TO CUT AND WHAT THE RULES FOR HANDLING THOSE WHO RIOT AND DESTROY PRIVATE PROPERTY WHILE EXPRESSING THEIR DISPLEASURE FOR LOSING WHATEVER PROGRAM THEY WERE GETTING OTHER PEOPLES MONEY FROM.RECENT EXAMPLES ARE GREECE,THE G20 IN CANADA,AND THE ARIZONA REACTION.IT WILL BE INTERESTING HOW THE 10,000 PAPER PUSHERS IN THE ENGLISH MEDICAL PROGRAM REACT TO THEIR NEW POSITION.

    13. Gary Alaska/Nevada says:

      Last week China surpassed the USA as a user of energy. Energy is much cheaper for them, so their economy is growing, fast. While we, are becoming more and more bogged down in some Marxist nightmare? These "Commies" are completely unresponsive to public opinion, polls, whatever, nothing seems to phase their collective march to another Dark Age for humanity. Can they be stopped, and some semblance of American values restored? The Chinese will pass us like Mugabe passes the people of Zimbawe in his entourage of armoured cars.

    14. Raymond Johnson San says:

      Only a fool or a traitor would try to stimulate indirect exchange by debasing the medium of exchange. What is going on in our nation's capital is too stupid and too destructive to not be intentional.

    15. Diane, NJ says:

      The thief in chief can raise taxes all he wants. I have nothing more to contribute to his pie. We working Americans need to go on strike. No pain, no gain.

    16. Sue Marie in Detroit says:

      No one believes anything the Obama Administration claims. The Socialistic Utopia does not improve life, it destroys life. The ruling class benefits from socialism. The country class the producers are destroyed.

    17. ThomNJ, New Jersey says:

      "His Treasury secretary was on television yesterday claiming this massive tax tsunami would have no effect on economic growth. " – that is simply astonishing, though not unexpected. What is truly astonishing is the seemingly willful ignorance of the facts by Geithner, obama and crew – as if their denial of history will change things and a repeat of last year's failed policies won't fail a second time around. Insanity is doing something again and again and yet expecting a different result. What does it take to get these people into the real world?

    18. Sue Marie from Detro says:

      No one believes any claims made by the Obama Administration. The Socialistic Utopia does not work. The ruling class becomes wealth while the country class (wealth creaters or workers) are destroyed. No one benefits only the ruling few.

    19. Chrisann, UT says:

      That's nice that they admit it, but what are they going to do to fix the problem. We the people need to give this administration the pink slip and shown the door. This mess is getting bigger and won't go away until we stand up and fight against the tyrants in Washington D.C. and in our own state governments. I believe a revolution is coming, I think it will be transforming. I hope and pray that we will all be ready to make a stand and do the hard things that are ahead of us. Scary times are coming but so are the good time. We have to live through the hard,bad times to enjoy the good times. Let's be strong Americans and let POTUS know that we run this country and that we are giving him a pink slip!

    20. Mr. Harris says:

      Any man or woman who believes anything at all that comes from the lips of anyone connected in or with our (sic) government has to have mud (sometime known as cement) for gray matter. When that mud sets nothing much can get through it. The worse part of all of this is the flak keeps coming inbound.

    21. Clarence De Barrows says:

      The people who support this agenda driven idiot and his administration couldn't care less! Obama and crew are achieving just what they set out to achieve – bankrupt our system and replace it with theirs. The sad part is the people who are beholden to Obama for transferring the earnings of the responsible folks to themselves aren't about to vote to change the program. They like it! VOTE THE BUMS OUT!

    22. Joe Colliins, Bremer says:

      "(UNDERSTATEMENT)"– We need knew leadership.

      Obvious statement, anyone that is unable or unwilling to see this and admit this is true, must have their head in the sand….How long must we wait, for new leadership? Thank goodness first for God, and thank goodness we have the TeaParty and all those of us that really care about America and our U.S. Constitution……..hopefully those that are unable to presently see (head in sand), will soon lift up their head and open their eyes, to join all of us that would like to find new leadership and place our country back on a course that corrects all the mistakes that President Obama and Congress has given us in the last 1-1/2 years…. Yes, President Bush made mistakes too, however the measures taken since President Obama took office has multipled our problems, not correct them………….Let us all look to the future with new leadership, our U.S. Constitution in hand, and make sure all those that take the oath to uphold it, do so, or are relieved of duty………end.. Joe C.

    23. Brad, Chicago says:

      The administration keeps claiming how much worse things would be without the stimulus. Why should we believe their new estimate of the severity of the recession when their original estimate was so far off? If the original $1 trillion saved 3 million jobs, then we're going to need $2.5 trillion more to recoup the 7-8 million more jobs we were promised stimulus could "save or create." We don't have that kind of money to throw around.

    24. Mari Lane says:

      No.

      Unequivocally, absolutely No.

    25. Jim Roumeliotis - Hu says:

      No I don't believe him now and didn't believe him then. I am ahead the the game.

      We must stop runaway spending and elect representives that will value our views and needs. Not ones that wish to line thier pockets.

      Those that have used thier position to further enhance thier personal profits or position must be brought to trial and made to defend themselves as we would be.

      The American people need to sent a message…."no more graft"

    26. Dan Smith, Simi Vall says:

      Fellow Americans, Patriots all:

      To paraphrase the words of President Lincoln and our own Declaration of Independence: “Two hundred and thirty-four years ago our fathers brought forth on this continent, a new nation, conceived in Liberty, and dedicated to the proposition that all men are created equal, that they are endowed by their Creator with certain unalienable rights, that among these are life, liberty and the pursuit of happiness. That to secure these rights, governments are instituted among men, deriving their just powers from the consent of the governed.

      Once again, we are engaged in a great new conflict, testing whether our nation, or any nation so conceived and so dedicated, can long endure.”

      Fellow Patriots, our Republic, our Constitution, our freedoms, and our American way of life, purchased with the blood and treasure of our forebears, are today in grave danger from enemies both within and without. The danger to our Republic, our Constitution, our liberties and our lives is very real:

      We have a Marxist President with a radical agenda foreign to our heritage with his finger on the nuclear trigger. His paternity and citizenship are suspect. He takes great pains to hide his background from us. He was educated by Muslims, Communists, and at Harvard. He emerged into the public eye from the cesspool of Chicago politics. As a “community organizer”, he got poor folks on the dole and squandered public funds in a failed attempt to subvert public schools to an ideological agenda. He attended a Chicago Church whose hate-America Pastor is a foul-mouthed servant of Satan. He is close friends with known terrorists. He admires and bows before oil potentates and tin-pot dictators. (We have pictures). He treats America’s traditional allies with contempt. He hates Jews, Israel, America, and Whitey. He lies so easily and so often it is troubling. Based on his past & current associations, Barack Obama would never even qualify for a DOD Security Clearance; now he is Commander in Chief and fecklessly taking steps to disarm us in the sight of our enemies. Does that make you feel safe at night? Barack Obama is a danger to your Life, Liberty, and Property and a disgrace to American ideals! Barack Obama has gotta go!

      We have a spineless and venal Congress & Senate whose Democrat majority is hell-bent on imposing their Socialist Utopia and Chicago Way across America through the deliberate impoverishment of its citizens. We have witnessed the calculated & deliberate mismanagement of our public finances and the plundering of private wealth through the subprime mortgage mess, out-of control deficit spending, advanced through backroom deals and payoffs to quiet the qualms and grease the palms of our boot-licking politicos whose votes are for sale.

      It doesn’t take a CPA to figure out that what’s coming down the pike is a tsunami of crushing taxes and debasement of our currency to feed the maw of a Government run amuck. Our so-called public servants are screwing us out of the rightful fruits of our labor and robbing our children & grandchildren of their future through their profligate ways. Our elected dirt-bags are so used to using their public office for private gain, they and their media lapdogs no longer have even a shred of honor or shame left – the abnormal has become normal. Now we vividly know the truth of the saying that “No man’s life, liberty, or property is safe while the legislature is in session!” Fellow Patriots, we need to vote ‘em all out! .

      We have a tax system that is being used to enslave us. One of the big reasons we are called the Tea Party is that our tax system is an absolute joke – a couple-thousand page monstrosity that makes criminals out of everyone. Instead of raising revenue to fund essential costs of Government, our so-called “progressive” tax system is used for social engineering – code words for ”income redistribution” – primarily to buy votes. What we have now is a system where a little less than half the people in the country, presumably “the poor and illegal aliens” are freeloaders that pay little or no tax at all and the top 2% paying 40% of the taxes. The freeloaders presumably will vote the Democrat ticket to continue receiving their freebies.

      When our profligate politicos feel the itch for more of our money they always talk about “soaking the rich”. The bad news is that “the rich” are small and medium-sized businesspeople who have kept the show going and now there are damn few left to soak. What does that tell you about whose pocket is going to get picked next? Right – the middle class, meaning you & me. They got the gold mine, we got the shaft! How is that fair?

      As if all that isn’t enough, there’s an army of IRS agents – a real American Gestapo, coming soon to a neighborhood near you to enforce our Nanny-state government’s vision of a Worker’s Paradise by making you buy their crummy health insurance. Fellow Patriots, what will you do when they come for you? Are you going to bend over without a whimper and take it up the butt? I don’t know about you, but I’m sure as hell not!

      We see the appointment of an activist airhead Supreme Court Justice the “wise Latina woman”, with a political agenda who believes our Constitution is a “Living Document” that she can interpret any way she damn well pleases. Now we also have Elena Kagan, another Obama stooge trying her best to weasel her way onto the bench. Fellow Patriots, are we a nation of laws or of men? Our Founders chose their words carefully with a firm reliance on Divine Providence and our Constitution means exactly what it says. What more do you need to see or hear before concluding that our liberties are in danger?

      Here’s a few things we can expect to happen if our government continues running amuck:

      You can expect to lose many freedoms you now take for granted. Like the car you drive? You’ll only be able to buy a “Green” Go-Cart from Government Motors. Our Democrat elitists would really prefer you not have a car at all, but rather be forced to ride a bus or the subway. Like to watch TV and go to the movies? You’ll only be able to watch PC propaganda. Right now there’s real talk in DC about shutting down Fox News. Got kids? They will be indoctrinated and drink the Kool-aid at school and told to rat you out. Think your home is your castle? Think again. Enviro-wacko do-gooders will make your home unsalable by forcing you to retrofit your home at considerable expense to comply with their misguided “Green” agenda. Own a gun to protect yourself and your loved ones? Go to jail – do not pass GO! Attend Church on Sunday? Sorry, we'll have to shut that down – discrimination you know. We could talk about this stuff all day long, but I think you get the picture.

      You can expect to lose whatever wealth you still have left through excessive taxation and debasement of our currency resulting in rampant inflation. How many of us lost a chunk of our life’s savings in the recent subprime mortgage meltdown? How many lost a big chunk of our home equity? How many have lost jobs? If the same clowns in DC are still there next year, your paper wealth could be damn near worthless and you’ll be a pauper. We can’t let that happen. If these idiots in DC were sent packing, the stock market would go vertical at the opening bell.

      We can expect to see loss of public order. When people give up hope of ever making a decent living, it’s only a short step back to the Law of the Jungle, marked by rampant stealing and violence. It would be well to remember Lady Thatcher’s words of warning: “The veneer of civilization is very thin.”

      We can expect to see loss of life. We know that the Obamacare death panels will “pull the plug on Granny”. Next thing you know – and history backs me up – Granny and Gramps will be asked – or told – to snuff themselves “for the greater good”. After that, they will come after the disabled, the handicapped, and other “useless eaters”. Obamacare is not about health care but a pretext for tyranny.

      What can we do? Walter Williams says, “Americans who wish to live free have several options. We can submit to those who have constitutional contempt and want to run our lives. We can resist, fight and risk bloodshed and death in an attempt to force America's tyrants to respect our liberties. We can seek a peaceful resolution of our irreconcilable differences by separating.” Those are the choices.

      You may be asking yourself: “What can I do? I’m only one person.” Here’s what you can do: Take a stand for Liberty. Decide! Decide now, not later! Get involved – today. Tomorrow may be too late. Talk it up with your friends & neighbors today. Give all you can when you can to those who can – now.

      Know and assert your rights – Because our schools are so dumbed-down, a lot of folks don’t even know the full extent of our Founder’s gift to us. Read the Declaration of Independence. Know your Constititution. Study the Federalist Papers. Demand our rights be respected and upheld. We need to hold our elected representatives accountable. We need to have a microscope up their ass at all times! We have to keep these people on a very short leash!

      The internet makes it far harder for tyrants to control the news and far easier to organize and make our voices heard. We need to use every tool and stretch every nerve in the defense of Liberty!

      Most importantly, make sure you vote. This November could well be one of the most critical Elections in our lifetime. It could well determine whether we and our children and grandchildren live free or die in a Socialist Paradise like what we see in Cuba.

      Lastly, be aware that things could get rough. Our Founders pledged their lives, their fortunes, and their sacred honor. Benjamin Franklin said, "We must all hang together, or assuredly we shall all hang separately" Do we as Americans still have it in us to defend our liberties – to live free or die – or have we gone soft? What will you do when they come for you? Are you going to go quietly or are you going to fight back? Only the person that you see in the mirror every morning can answer that question for you.

      Fellow Patriots, our friend Jay Henderson said in his book, “Gathering Storms” that, “If we lose freedom here, there is no place to escape to. This is the last stand on Earth.” Personally, I’m betting that this is still the land of the free and the home of the brave!

      Fellow Patriots: November will be here before we know it. Let’s get out there and play ball!

    27. Charles Nystrom, Sum says:

      The economic data data released Friday may reasonably represent the current state of affairs. However the projected jobless numbers are no more likely to represent what will occur than the previous forecasts. More likely is unemployment will be worse in a private sector economy that continues to weaken.

    28. Chaplain Michael says:

      What Obama is purposely doing is killing the American spirit, all the budget stuff, health care, cap and trade and lie after lie is nothing more than smoke screens.

      "It's time we open our eyes, see the face behind the disquise, look evil in the eye and say, America, America, you will not tread on thee. America, America, our land is holy from sea to shining sea.

    29. Bob H Syosset,N.Y. says:

      In answer to the last question, NO

    30. Marnott, Tx says:

      It would appear that if the lips of anyone in this administration are moving, he/she is lying. Which makes perfect political sense as the truth this bunch creates is stranger than fiction. Can our country and its citizenry survive two more years of these inept deadbeats bumbling their way through the business of state and leaving a swath of destruction a mile wide? For every inept, dishonest progressive in government, there are citizens who supported their agenda and voted for them. That is the frightening part. Who knew that 50% of the people in America, the once greatest country on the face of the earth, felt that the other 50% owed them a living. Amazing!!

    31. Clyde Bollinger, Fes says:

      " If the federal government managed to return to the per-household spending level of the Reagan administration, the budget would be balanced by 2012 without any tax hikes"

      Wow!, what a powerful statement. The entire population should take to the streets, state houses and halls of Congress DEMANDING, (yes, I know, avoid caps) spending restraint.

      Were we to combine spending restraint with a revised trade policy that eliminated the trade deficit, this economy would boom again and Made In America would become the standard label for manufactured goods.

    32. Norbert, Ohio says:

      When all these tax increases happen it will be too late. Talk to your neighbors, co-workers and family. The American People must rise up and take our government back from those who would subject us to government control into almost every area of our lives. We are at a juncture where our government is subjecting us to far worse abuses than the Founders of this Republic had to deal with. We are choosing by our actions or should I say inaction. Words and beliefs are hollow without action. I am not advocating violence. Vote! Make your voice heard! Hold your elected officials accountable!

    33. Timpclimber Provo, U says:

      Obama Fridays, or Obama's Shadow of Truth Fridays. or Just maybe I can snooker the American people one more time Fridays. Where are his live press conferences? Transparency? No more taxes? Etc. How about just plain, the Truth Hurts Fridays?

    34. Russell Sebring Fl. says:

      ? “In economics, the Laffer curve is used to illustrate the idea that increases in the rate of taxation do not necessarily increase tax revenue. . Increasing taxes beyond the peak of the curve point will decrease tax revenue….” Have we reached this point on the curve?

      Does the members of the ?legislation and administration think that the Laffer curve is a bunch of hogwash? Do they think that ?by separating where the taxes are taken that each does not add up to the total rate.

      The amount of service we have depends on technology and the amount of goods. The only way to have more service than what goods can support is debt. If you beleive in the laffer curve then there is no way to support a big government.

    35. Backgammon, Bonita S says:

      Do you have your Obama Phone yet? Check out this site. What else don't we know about? If healthcare is a right, why not a cell phone?

      I had a former employee call me earlier today inquiring about a job, and at the end of the conversation he gave me his phone number. I asked the former employee if this was a new cell phone number, and he told me yes, this was his “Obama phone.” I asked him what an “Obama phone” was, and he went on to say that welfare recipients are now eligible to receive (1) a FREE new cell phone, and (2) approximately 70 FREE minutes of air time every month.

      I was a little skeptical, so I Googled it, and lo and behold, he was telling the truth. TAXPAYER MONEY IS BEING REDISTRIBUTED TO WELFARE RECIPIENTS FOR FREE CELL PHONES. Enough is enough, the ship is sinking, and it’s sinking fast. The age-old concepts of God, family, and hard work have flown out the window, and are being replaced with “Hope and Change”, “Change we can believe in”, and "Why should I work for it, when I can get it for free?"

      You can click on the link below to read more about the “ObamaPhone”…just have a barf bag ready.

      https://www.safelinkwireless.com/EnrollmentPublic

      The OBAMA motto: We've got what it takes, to take what you've got!

    36. Dave Pierson says:

      Stop it with the 9.5 -or whatever it is week-by-week- unemployment stats!!! Conservative websites (such as this one),TV and radio commentators, and ALL of those running for office this year, need to FOCUS LIKE A LASER on the TOTAL unemployment stats of 17 to 19% !!

      I love HF, but alot of the aforementioned get their daily tracks from HF, Drudge, Newsmax, etc, so YOU GUYS need to help those aforementioned to shout from the rooftops a more painful group of stats to shine the light on the stark contrast of Ovomit's regime spin, and reality.

    37. Carol says:

      Every time this dude moves his lies it is against American and it's people!!!!!!

    38. Jim Winn, Lawrence, says:

      Again and again Geithner discloses his appalling lack of knowledge and understanding of what motivates our economy. But of course, he is just one of the 94% of Obama's appointees who have had absolutely no business experience.

      Jim Winn

    39. KLIMAX Baltimore Mar says:

      If the media does not start publishing and having segments on the TV news NObama will continue to sneak this kind of Info past the average American Citizen !! The American people must wake up and put down their remotes and start paying attention to the lies coming out of the White House before we end up in a full fledged depression like the 30's !!! It is sad to say that Americans are "Fat Dumb and Lazy" and as long as they have a large screen TV and a six-pack in the icebox they don't care what is going on in OUR Government !!!

    40. Mike, Chicago says:

      Another example of Obama's failed economic policies. We cannot tax and spend our way to economic success.

    41. Lizzie Prouse Florid says:

      I believe nothing this administration says and I back that up by reading about the quote faith of the Islamic World that to lie to further the cause of their quote religion of peace it is acceptable to lie.. And I believe at his core the president we have in power now is a deceiver and a supporter of those who would conquer this country with another religion which by the way since actions speak louder than words does cut off heads and hands and feet and SAY they are a religion of peace. And the mosque in N Y City is to show the world they are here and they did it to NY City and they will do it again. Did they not celebrate around the world on 9 11? And will not they celebrate around the world if stupid NYCity lets them build this mosque?

      Wake up America Wake up and close our borders NOW. Close it to further mosques. They allow no Christian churches in their lands, they kill if one of their quote religion of peace converts to Christianity. Wake up America to the War we must win….the war against the enemy of America…the ones who bombed us with our own planes, used our system to learn how, and then did it. Wake up America…vote the present ones out that support this administration.

    42. G Buss says:

      The only thing that will change the economics is war.

      It worked for TR,FDR, Wilson and countless other world leaders.

      It will only work well when the world powers are nominally equal, hence the reduction of the USA economy and industrial base.

    43. Ben C. Ann Arbor, MI says:

      Trickle down funding from Congress is not working on the local level. I never dreamed I would become a political person but I am running for county commissioner in Michigan. The reason is the unsustainable debt my children will inherit. My platform is “It begins at home.” My talking points are listed in today’s Heritage article. My optimism will explode if voters agree, otherwise I will become very crabby.

    44. john Arizona says:

      In spite of the continual bad news about the economy, the war, immigration, etc., Obama et. al. continue to twist the truth, tell outright lies, and blame Bush for everything that their agenda has resulted in failure, there are still 45% of the people in this country who think Obama is doing an acceptable job. What is wrong with America??

      As bad, or even worse, Dingy Harry Reid is ahead in the polls in Nevada. What are the Republicans doing? Can anyone else see Republican failure in November?

    45. Jeanne Stotler, Wood says:

      Just look around when you are in a grocery store, there are those with WIC and food stamps, all have cell phones, most have blue tooth, if they have a baby they have expensive NEW strollers and buy food I would not buy, easy to fix kind. the fact that most are either from the east or south makes no difference, the fact that they expect to be supported by the tax dollars of the working public is what bothers me. And I know jobs are scarce but there are those who have been on the dole for four or more generations and if they do work it's under the table. Someone needs to stop the welfare and medicaid fraud and make sure that taxes are paid by everyone who works, fine employers who hire illegals and welfare cheats, not just a slap on the hand.

    46. Judy, MA says:

      Obama needs to be impeached. Note: you all should read "The Five Thousand Year Leap" then you"ll know why. Author: W. Cleon Skousen

    47. Shnooky, Arizona says:

      Let's not forget the price tag that comes with two wars.

    48. Barry H. Somlyo Over says:

      Reason, logic and good arithmetic will never be enough to stop corruption, theft and oppressive government. What would the founders do?

    49. Mike, North Carolina says:

      Those who are looking for any "admission of failure" from Obama and his Statist, nacissistic "The Constitution (limits government too much)", "It's (somebody else's) fault!", "The difference between then and now is, you've got me now!" agenda and ego (who, even when confronted with audio, video, transcript, or any other proof of his dishonesty, wrong-doing, and culpability of his, will still say [quote]"I never said that", or otherwise deny his culpability), and, for that matter, any "admission of failure" from the so-called "Obama Administration" and his accomplices in control of Congress…which cannot be speciously, misleadingly "explained" or "talked away"…are looking for something which has not been forthcoming, and still is not and shall not be forthcoming from such as Obama, his so-called "Administration", and his accomplices in control of Congress.

      Of course it is not as if we, the people, have not been warned and urged to safeguard against being robbed of our freedoms, resources, and security, by such people. Even Thomas Jefferson did indeed identify and urge safeguarding against such people when he said (quote) "The two enemies of the people are criminals and government; so let us tie the second down with the chains of the Constitution so the second does not become the legalized version of the first".

    50. Bill, Portland, OR says:

      This article is as twisted as Newt Gingrich's soul. How can one write this without acknowledging some simple facts? A: Medicare and Social Security payments will increase over the next ten years – as was completely expected – because of the retiring baby boomers. B: Your own numbers indicate that the 2001 and 2003 tax cuts account for 1.7 trillion dollars in lost revenue from 2002 to 2011. From that same period, there was an increase of 2 trillion dollars to the already bloated military industrial complex. In that same period, "entitlement" spending increased 1 trillion dollars (mostly from the unfunded giveaway to the pharmaceutical industy, the Medicare prescription drug plan). Your analysis? We must cut reimbursements from social security and medicare to the people who payed for it.

      Heritage Foundation thinking has been proven categorically wrong in every aspect. If they had any decency, your writers would quit trying to perpetuate this insanity, and they would get meaningful jobs.

      Yes, the budget numbers are bad. You know what would help? Cutting the defense budget. Increasing taxes on the rich – of which, I am fortunately one. Getting healthcare costs under control with real reform. Concrete financial reform to provide stability in the market, not the nebulous "turn everything over to regulators" bill that just came out (start by undoing everything Phil Gramm touched). End our energy deficit by growing our energy generation capacity.

      The only ways Obama has failed have been in his capitulation to conservatives who still believe this discredited "trickle-down," "voodoo," "privatize the profits/socialize the risk" economics.

    51. C.L. California says:

      My comment is total agreement with all of the above comments.

      What is the old saying? "Fool me once, shame on you. Fool me twice, shame on you."

      Americans who were fooled once, certainly CANNOT afford to be fooled twice… nor will we be so fooled. We MUST take back integrity and truth and honor in our country.

      God bless America…

    52. Danielle Gleason says:

      In answer to your question in the last paragraph, yes, there are still people out there who do believe his rubbish. A frightening number, in fact. Conservatives MUST educate these people. Maybe being unemployed, fined for not having insurance and being taxed right into the street will get their attention.

    53. S Rubicon, Southcent says:

      If what these folks are doing & what they plan were not so frightening, their actions would sound comical. The fact is, their actions cannot be financially sustained. Bush overspent & we all know it. But, it took him eight years to do it. These folks are trying to do so in less than two years. Worse is they are actually succeeding even though the public is openly opposed to their actions.

      We are told, every industry & every conservative or Republican politician is to blame. The Democrats keep trying to act as though they were no where to be found during all of this. Barney Frank has been able to hide or obscure his involvement in CRA & the Fannie/Freddie meltdown. When will the truth come out that Barney knew they were going under & he wanted to dump the costs on the people?

      The conservative way, or the free market way, may not be the complete answer & there could be problems. But its the American way!

    54. E.P.WOOLLEY,CLEBURNE says:

      It is amazing the gaul of this administration to release such verbage on this day—-26 of july—-Fidel would be proud!Way to go O'bama.

    55. Bill, Portland, OR says:

      So I disagree with the author. I provided data to support my position. I was civil in my writing, but the moderators decided my comment would not be allowed.

      It's a reflection of the weakness of your argument if you have to shield other people from any criticism to it.

    56. DanJ, Detroit area says:

      I assume that these budget figures do not take into consideration the now proven costs of Obamacare. As a matter of fact, it would be easy to assume that they are based on the fiction perpetuated by the Administration and the Democratic leaderhsip that the new health care reforms will reduce the deficit. Has anyone who knows looked into this?

    57. Ron Derry NH says:

      There is no reason to believe that their estimates aren't already false to give the impression worse isn't yet to come.

      They lied to get the stimulus passed to by protection votes, they are lying still to further their agenda and that is nothing short of deceiving Americans into socialism and total government control economics…which in fact will have to collapse into the waiting arms of the bureaucracies that are being set up with each new law.

      There is no truth coming out of the den of thieves office so don't suddenly take their word for some guesstimated future figures on a report. We are still in a financial collapse and a tax increase will insure it.

      These people should be arrested not debated!!

    58. Blair, Franconia, NH says:

      Obama's finally admitted failure. It takes a big man to do that. But does that mean he's a big man? Not necessarily, no. In fact, he blames others for his failures. Who else did that? How about Adolf Hitler? Hitler blamed the Jews for his, and Germany's,

      problems during the 1920s and '30s. Who else used convenient scapegoats? Stalin.

      Stalin collectivized the farms of the Soviet Union and created the worst famine until

      the Ethiopian Famine of 1983-85. Stalin also blamed his military commanders, especially Marshal Tuchachevsky, who was among the first to die in Stalin's purges.

      Is Obama a big man? No. sir! He's a little vile tin horn wannabe Fidel Castro or Hugo

      Chavez.

    59. Rob says:

      "I can't be out of money! I still have checks!" — Barack Obama

    60. Judith in Michigan says:

      Every thinking person in The United States know this administration is lying about EVERYTHING! The people they are controing are the leftists, those on the public dole, and those who are dyed-in-the-wool Democrats and Obama fans, no matter what. They are hoping that this group will continue to overpower and intimidate the majority of Americans into keeping quiet.The big question is "What do we do next to get the truth out and to confront DC that we are on to their lies, and turn the tide away from our destruction

      In Mich, my 2 senators are both Democrats. Carl Levin and Debbie Stabenow. Senator Levin, according to his office, no longer holds public townhall meetings. Senator Stabenow's office said nothing set yet for August, but check back later.

      I write, phone, e-mail, all to no avail. I'm sure most of you out there do to. Rallies are ridiculed, Conservatives & Tea Party members are smeared.

      The MSM (now we know who they really work for thanks to Journolist) refuses to report anything near the truth in order to protect Mr Obama & Co.

      We only have until 11-02-10 to get the truth out. Otherwise, the United States will no longer be a Democracy as we have known it. We will be degraded to the status of a 3rd world country. Am I being too extreme? Are you willing to bet the farm on it?

    61. William D. Cannady, says:

      Obama and his Administration are the single biggest threat to our Freedom and our Country. They are well under way witht the "planned Destruction of America". And, God won't help us, because "we aren't a Christian Nation" as Obama says!

    62. Ken Josephs Jensen B says:

      Will Pres. Obama finally be judged a fool and incompetent ? Besides 19 months of chaos and debt creation what is there ? His choices made as President. Judge Obama's competency and intellect by the people he has chosen for advise and council and you see the real Obama. An incompetent fool of little character !.

    63. Danville, CA says:

      Many of the policies of the left simply do not make any economic sense. The entitlements that the left can't stop ever expanding might sound good at first blush. But when you lift off the facade, and you look at the total costs of such policies, they are a disaster.

      E.g., 99+ weeks of unemployment means that we are paying able-bodied citizens to stay at home. That's not good for those who get the money because people are better off being busy and feeling like they are contributing. We need to incentivize people to work. Instead we do the opposite. My adult son is disabled (Down Syndrome) – yet he goes to work everyday. Physically it's sometimes difficult for him to work. So why does he do it? Because it's good for him. He enjoys working, being productive, and being involved. And it brings him confidence and satisfaction. If the truly disabled can get out and work, 99% of Americans can too. We need incentivize working.

      Worse yet, is the horribly irresponsible federal spending. Already there is no realistic way to pay for all of the entitlements that the federal government has promised. And yet they just keep spending. And just when we thought they couldn’t spend any more, they pass the biggest entitlement program ever – ObamaCare. We will ALL have to pay for this irresponsibility in the near future.

      Financially burdening our children and grandchildren is immoral. Seriously, what the h*** are we doing?

      We MUST get these people who are voting in favor of these policies out of office before it is too late. We MUST elect true conservatives into office. And I don't just mean democrats. We need to also look at many on the republican side … we can't afford to have rhinos representing us that continue to grow the government and spend us into a nightmare. Before I vote, or financially support, anybody running for office, they better be able to promise, unequivocally, that they will repeal ObamaCare AND be a fiscal conservative.

      Finally, I’m not a Tea Party member. But I fully support the cause for adherence to the Constitution and limited government. Brothers and sisters, don’t let the race-baters deter you!

      Mike Cordon

      Danville, CA

    64. Shnooky, Arizona says:

      "Your comment is awaiting moderation."

      Exactly how long does moderation take? 5+ hours and counting.

    65. PadreMike, Panama Ci says:

      We have a new "Lying King" and he is in the White House. Obviously his economic policies are designed to take all of us back to the jungle.

    66. John, Colorado says:

      They know what they are doing, and it is deliberate.

      And America deserves it, for putting God out of it's mind and letting the ungodly overrun the courts, elected offices, academia, education, and the media, especially Hollywood.

    67. Diane, FL says:

      It's amazing to me that those who are still hooked on mainstream media are truly "snookered" (Sherrod pun intended) by their reporting that the Bush administration is still at fault, that Obama is doing the best he can to save our country, and that the problem is opposition from the Republican party. To their minds, if we'd all "just get along" Obama could actually FIX our country. I have relatives who fall into that category and I'm speechless when they spout their perspective – it's so ridiculous. The blindness is beyond comprehension. I'm so grateful for FOX and our alternative conservative news media for getting the truth to us.

    68. Mike, Detroit says:

      Our great utopian city of Detroit is an excellent example of what happens when Democrats run an area. Having the highest income tax rate in the state, Detroit also has the highest property taxes! We have a Democrat Mayor, 100% Democrat City Counsel and 100% Democrat Representation (not 1 republican in any position). We have a 70% drop out rate in high school, one of the highest crime and poverty rates in the country, a 90% drop in real estate values and a city that is completely corrupt.

      With 40 plus years of Democrat rule, where is the utopia? I'm concerned that Obama is taking our nation to the same utopia that Detroit is currently at. Higher taxes and more government programs lead to misery amongst the people; Detroit is a rusting example of the outcomes of Democrat policies that could spread to a town near you!

    69. SueD Arizona says:

      Unfortunately, too many people believe this is the right direction because the President says so. Thanks for your insight and facts.

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    71. Linda, Louisiana says:

      Sure, the OBama Administration has been a failure, but is that any surprise. Many of us knew from the beginning that he was not Presidential material, that he doesn't know what he is doing, that he has surrounded himself with people who were personal failures, that he has lied to the American People, and that he attempts to lie himself out of a lie. Not only does this president want to spend every dime and more that the people have paid in, but the majority of Congress is doing the same thing. I hope everyone remembers when they go to the Polls in November. Many changes need to be made such as having term limits for all members of Congress and the elimination of "tack on" programs/funding to Bills. Any verbiage in a Bill that Congress introduces should directly pertain ONLY to that particular Item.

    72. kathleen barraclough says:

      unequivocally NO!

    73. kathleen barraclough says:

      unequivocally No!

    74. kathleen barraclough says:

      unequivocally

    75. kathleen barraclough says:

      no. unequivocally

    76. Richard Vettraino,Ph says:

      Thank you Heritage Foundation,for telling us about America's financial situation.It will never be told truthfully by our News Media except for Fox & some others.I believe we can start to save our nation in November.Its not going to happen over night its going to take lots of patience.I feel sorry for my nephew who's about to be born,he has his work cut out for him & I hope his life here in the USA is as good as mine.

    77. KEN HOLEZKI. Wyandot says:

      Believe me, I do not know anyone who trust the Federal Goverment anymore. And that is truley sad. Many People I have talked to want to vote the incumbent of both Democrat and Republican out and are willing to try someone new they never heard of. Why? because the one's that are in office today from both sides can not work for the people that put them their. their too worried about their own pockets and their next vote.

    78. Kevin Habib says:

      Not sure what you all expect in terms of deficit numbers when taxes are at the lowest they have been in over 5 decades. Interesting that you only point to spending, when 90% of the deficit and debt over the next 10 years can be pointed to 3 things:

      1 – the 2001 and 2003 tax cuts

      2 – the two wars

      3 – the economic downturn

      With the deep recession the previous admisnitration took us into, revenues are at the lowest point they have been since the great depression. And yet somehow, you expect there not to be a massive deficit? And even worse, you advocate to make permanent the tax cuts for those making above $250,000.

      Extending the tax cuts for the top 2% of earners would add a trillion to the deficit/debt numbers over the next ten years and it is the least effective stimulus option out there.

      The conservative thinkers got us into this deep hole and now want to take us into a deeper hole by extending tax cuts for the top 2% and repealing the estate tax. When will people wake up and see the truth of who really is causing this mess.

    79. jim tibbs says:

      As some of us know, Obi is a puppet for the George Soros marxist crowd, better known as the billionares club of america, or something like that. At any rate he must go now, along with all incumbents in DC. I beg everyone who cares about this country of ours to get out and vote, and clean out the pig pen (DC) I just heard on the news at noon today that the dems. are planning to give amnesty to all illegal aliens currently in this country, if they take a beating in Nov. or soon after. Lets get the paddles out folks!

    80. Clyde B, MO says:

      Mr. Habib,

      It is not possible for a tax not levied to contribute to a deficit. The facts, not opinion, show that when taxes are high, those who can do so will find ways to avoid the exposure to the tax mechanism.

      History also proves that lowering the rate at which taxes are levied generate a higher rate of tax revenue.

      Simple logic says that were spending to be restrained during those times of greater revenue we would, more than likely realize a surplus. What actually has happened is that Congress has gone on a spending binge every time it appears that there is an increase in receipts.

      The only possible way to correct the problem is two pronged.

      1. Elect "citizen legislators" with strict term limits.

      2. Eliminate lobbyist and special interest access.

    81. Drew Page, IL says:

      Perhaps the sad facts revealed appeared to be an admission of failure to HF and to those of us who know the truth. But to Mr. Obama and his administration, they claim these numbers to be an unqualified success. Just listen to him and his Congressional flunkies crow about how well the Stimulus worked. They are patting themselves on the back and taking bows about all the great work they did over the past 18 months.

      Don't fall for his baloney about unemployment of ONLY 9.5%. That 9.5% doesn't include those who have exhausted their unemployment benefits. One wonders of these unfortunates still consider themselves unemployed, because the administration doesn't. And what of those who had good paying jobs who now work as dishwashers, mowing lawns, washing dishes or greeting shoppers at Wal-Mart? They aren't in the 9.5% either. Ask any of these people how well the Stimulus bill worked.

    82. Elroy Umnus Florida says:

      You wanted a change, now you have it.

      Let us all keep a close watch on congress, and do not for get November

      especialy November 2012

    83. Elroy Umnus Florida says:

      Some people wanted a change, but this is frighting

      remember novembere

    84. web sypherd, paradis says:

      Comrad husein obama is an admitted communist and an admitted muslim. If you look through the eyes of a muslim communist you will be able to see exactly what he is doiing Every move is calculated to destroy christianity and the economy of the US—-Check it out!!

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    86. eric says:

      Wow. Anyone want to play devils advocate here? I mean I am not a huge obama fan either, but these comments just sound like a bunch of far right conservatives whacking off to the same beat…

      The only thing that sucks worse than the direction this country is heading, is that there is no opposing leadership that can take him (Obama) on in an election. So instead of anyone doing anything about it, we're just going to have 4 more years of Obama.

    87. Tracey Andrews, Los says:

      Hopefully America will wake up and elect responsible politicians who understand how to run the "business" of our country. Everyone knows running up credit card debit you can't afford can eventually lead to bankruptcy.

    88. C.StewartMcCleaf Sr. says:

      Once again you keep us totally informed.Rep. Paul Ryan at this point is

      doing a great job putting people like Chris Matthews in their place.Thanks for supporting Rep. Ryan

    89. Felix, Fremont, CA says:

      I think the time of the release of the report doesn't matter anymore. They might do it any time of the week (day), whenever, the compliant media will report it the way Pravda did – so it will benefit the government.

    90. Convet, Somewhere in says:

      You libtards must be crazy asking the government to take more of your hard-earned wages. You also must be crazy refuting this Obumbler spending. I'll laugh my ass off while your money degrades into wheelbarrows of paper as in the Weimar Republic. Sucks to be you!

    91. Tom K says:

      the sorry part of this, is the idiots that voted for this liar believe what they are saying.

    92. bob says:

      hey bill get real its those like you who help promote this mess were in and

      i will remind you that you will pay the price of this administration along with

      the rest of us!

    93. S.F. Canyon says:

      To make sense of liberal/progressive neo-Keynesian economic policy, one must first assume that a horse is a perfect sphere…

    94. Lee, Az. says:

      If this administration has their way, I believe it won't be long before Obamas private million man security force will be deployed to our neighborhoods for whatever reason. Each of us will have to decied our response to such an intrusion. HOPE FOR THE BEST-PREPARE FOR THE WORST!

    95. don says:

      AN ADMISSION OF FAILURE ! IF THIS ADMINISTRATION IS ADMITTING TO A FAILURE IT'S ONLY TO COVER SOMETHING UP. THEY HAVE LOST ALL RESPECT FOR 'WE THE PEOPLE '.

    96. robg says:

      Mike, Detroit on July 26th, 2010 at 9:30am said:

      Our great utopian city of Detroit is an excellent example of what happens when Democrats run an area. Having the highest income tax rate in the state, Detroit also has the highest property taxes! We have a Democrat Mayor, 100% Democrat City Counsel and 100% Democrat Representation (not 1 republican in any position). We have a 70% drop out rate in high school, one of the highest crime and poverty rates in the country, a 90% drop in real estate values and a city that is completely corrupt.

      With 40 plus years of Democrat rule, where is the utopia? I’m concerned that Obama is taking our nation to the same utopia that Detroit is currently at. Higher taxes and more government programs lead to misery amongst the people; Detroit is a rusting example of the outcomes of Democrat policies that could spread to a town near you!———————————————————————————————————————————————————————————————————————

      Mike, Here's other Dem's cities that are BANKRUPT with the Dem's rule and policy's. Chicago, New York, New Orleans, Atlanta, Houston, Milwaukee, St. Louis, Miami, San Francisco, Oakland, The list goes on, easier to list states. Here in Illinois we have been ruled for 50 years by the Dem's. We are in more debt than California. Vote them all out, forget about the Rs & Ds. Replace with Constitutional conservatives. Remember in November. God Bless America…

    97. tried@true FLA. says:

      an old 1960 saying KILL A COMMIE FOR MOMMIE. line them up and string them up

    98. Bill, Kansas City, K says:

      Do I believe anything the Obama Administrations says? Good question. And the answer is not just "NO" but "HELL NO!!!"

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    100. Teresa nc says:

      It took these fools how long yo figure out that this fool is just that a fool……

    101. Teresa, North Caroli says:

      It took you this long to find out that this man is a fool and always has been a fool…….get him out of our house please the sooner the better

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