CBO: Obama Budget Adds $5.2 Trillion To Deficit, $1 Trillion In New Taxes

CBO: Obama Budget Adds $5.2 Trillion To Deficit, $1 Trillion In New Taxes – Big Government

The Congressional Budget Office (CBO) says President Barack Obama’s 2014 budget would add $5.2 trillion in deficits over the next ten years and contains nearly $1 trillion in new taxes.

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The Obama budget, which was delivered two months after the legally-required deadline, is larded with accounting gimmicks that count as savings war and disaster contingency funds that were never going to be spent. Obama’s budget also assumes sequester-related cuts will all be restored.

But Obama claims his budget is devoid of budgeting tricks.

“The numbers work,” says Obama. “There’s not a lot of smoke and mirrors in here.”

Congressional Republicans are not buying it.

“This new [CBO] report shows that the President’s budget doesn’t come close to solving the problem,” said House Budget Committee Chairman Paul Ryan (R-WI). “The federal government will take in a record haul over the next ten years. And the President wants yet another massive tax hike. But under his plan, we’ll keep adding to the debt – at an alarming rate.”

House Minority Whip Steny Hoyer (D-MD) defending the Obama budget and said the plan offers taxpayers a “big and balanced approach.”

“This is an important validation of the President’s and Democrats’ efforts to restore fiscal discipline through a big and balanced approach while maintaining our ability to invest in a competitive economy and a growing middle class,” said Hoyer.

Obama’s past budgets have resulted in politically embarrassing defeats. In 2011 and 2012, the Senate Democrats and Republicans unanimously rejected Obama’s proposed budgets.

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What Crime Has Harry Reid Committed?

What Crime Has Harry Reid Committed? – American Spectator

I have one question about the way Majority Leader Harry Reid has been conducting the Senate. Has he committed a felony or a mere misdemeanor?

The wags will say that a politician from Nevada does not commit misdemeanors, but I am in earnest. The difference between whether Dingy Harry – as he is known by the eminent political scientist Dr. Rush Limbaugh – shuffles off to a federal prison or merely pays a hefty fine is significant. I suppose we can leave it to the federal prosecutors to decide, but if he gets off on a misdemeanor I urge it also entail mandatory budget counseling. No one would be surprised to hear of Harry being sentenced to a stint at anger management counseling. Why not mandatory budget counseling too?

Majority Leader Harry’s transgression is that for over 1300 days he has failed to pass a budget. In fact, there is no evidence he has even tried. This is against the law. Federal law clearly requires the Congress to pass a budget every year. I presume the reasoning behind this is that the American people deserve to know what their taxes are paying for, or another way of putting it is, why are the American people being mulcted every year by the Internal Revenue Service to pay for Harry and his gang’s criminal activities? What are their activities? Are they buying votes with public moneys? Are they favoring friends with subsidies and other extensions of the people’s treasure? What about lucre they have extended for “renewable energy,” for automobiles no one wants, for every idiot enthusiasm of the so-called welfare state.

For over 1300 days Harry has been operating his scam without a budget. The House of Representatives has passed budgets in accordance with the law. They have been designed by the law-abiding chairman of the House Budget Committee, Paul Ryan. He has braved obloquy from Democrats and other ideologues for putting down on paper what he would spend federal money on and where the citizenry’s taxes are going. Harry has not, and according to the law he ought to go to jail or be otherwise punished. Surely we do not make laws without punishments, do we?

Not all senators are complicit in Harry’s intrigues. For instance, the affable Senator Jeff Sessions of Alabama is blameless and actually indignant with his colleagues and with Harry in particular. Recently he told my colleague at the Washington Examiner Byron York, “I think it should be a firm principle that we should not raise the debt ceiling until we have a plan on how the new borrowed money will be spent. If the government wants to borrow money so it can spend more, then the government ought to tell the Congress and the American people how they will spend it.” York concludes, “One problem, of course, is that the law already requires Congress to pass a budget, and Reid has violated that.” I say prosecute him. This is malfeasance on a vast scale.

Whether Harry goes to the can or accepts a lesser sentence, as I have suggested, a mandatory course in budget management, we are going to have to face up to these trillion dollar deficits that the government has been piling up since our smug President took over, Barack Obama. He envisages them for years to come, though obviously if those trillion-dollar deficits do come life in the great Republic will be very different from what it has been. We have already raised taxes on his hellish two percent, now Republicans have got to insist that President Obama make good on the other half of his deal and cut spending. The way to cut the trillion-dollar deficit is now through budget cuts. The federal government spends too much. It spends money it does not have. In the coming debt-ceiling fight Republicans and the handful of sober Democrats out there should offer suggestions on where the cuts should be.

I have just read a study by the increasingly mainstream Heritage Foundation outlining $150 billion dollars of cuts in the budget. Patrick Louis Knudsen, the author of the study, points out that many of the cuts are perfectly doable, for they envision the federal government’s desisting from undertaking what it should never have undertaken in the first place. Other cuts involve privatization, policy consolidation, ending ineffective programs, and eliminating waste, fraud, and abuse. For instance, Knudsen’s plan calls for cutting $13.5 billion from the Department of Agriculture, $3.5 billion from Community Development, $15.1 billion from Health Care, and $15.8 billion from the Department of Transportation. So it goes through every nook and cranny of the federal government, save the Department of Defense. Knudsen does not cut from the Pentagon because he feels that the military is an essential area of government involvement. Presumably he leaves it to the generals and admirals to decide what is essential for the security of the country.

The coming battle over the debt ceiling is the right time to demand our government get its fiscal house in order. If not now, when? As for Dingy Harry, possibly under the threat of prosecution he will smarten up. No one wants to see him go off to the calaboose.

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A tale of two states

New Jersey and California were stuck in the Pit of Liberal Fiscal Insanity. Then New Jersey started to climb out, thanks to a Conservative governor. California? Well their governor is Jerry Brown, and California is not climbing, they are, digging!

New Jersey and California both adopted state budgets yesterday. I listened in on Chris Christie’s press conference and had to laugh as he excoriated the Democrats in our state legislature for relying on “fantasy revenue found between the couch cushions.” Christie said, “I looked, it isn’t there.”

No kidding.

Then he aggressively used his line-item veto power to slash almost a billion dollars from their spending plan before signing it. And he vetoed two supplementary bills, one resurrecting the job-killing “millionaire’s tax,” and another which fed money into various slush funds for use by urban mayors (these funds are kind of a New Jersey tradition, it’s about time somebody had the guts to kill them off).

My favorite quote?

“We are not increasing taxes on the most overtaxed people in the country.”

Meanwhile, CA Governor Moonbeam Jerry Brown didn’t get the No New Taxes memo. He’s busy turning the Golden State into Zimbabwe, U.S.A. The budget bill he signed yesterday had an immediate effect on California’s economy and jobs climate.

An immediate, decidedly negative effect: 25,000 Amazon.com affiliates in California woke up to the unemployment line this morning. Why? Internet sales taxes. Jerry Brown imposed them. And Amazon.com said “kiss my ass.”

In California the public employee unions run the government. And their appetite for tax dollars is voracious and insatiable. Jerry Brown expects his new Internet tax to raise $200 million a year. Hah! In actuality it will result in a net revenue loss:

For the benefit of anyone too stupid to understand why the California Internet tax is a bad idea: All the revenue from sales commissions to California’s 25,000 Web site operators who had participated in the Amazon Associates program was taxable as income.

Now? Zero income. And also zero sales.

Ergo, nothing to tax.

Meanwhile in New Jersey, Chris Christie tamed the unions and cut taxes. So we can breathe a sigh of relief.

Just imagine how great California could be, with some common sense leadership. Or just take a look at this story from Wisconsin

“This is a disaster,” said Mark Miller, the Wisconsin Senate Democratic leader, in February after Republican Gov. Scott Walker proposed a budget bill that would curtail the collective bargaining powers of some public employees. Miller predicted catastrophe if the bill were to become law — a charge repeated thousands of times by his fellow Democrats, union officials, and protesters in the streets.

Now the bill is law, and we have some very early evidence of how it is working. And for one beleaguered Wisconsin school district, it’s a godsend, not a disaster.

The Kaukauna School District, in the Fox River Valley of Wisconsin near Appleton, has about 4,200 students and about 400 employees. It has struggled in recent times and this year faced a deficit of $400,000. But after the law went into effect, at 12:01 a.m. Wednesday, school officials put in place new policies they estimate will turn that $400,000 deficit into a $1.5 million surplus. And it’s all because of the very provisions that union leaders predicted would be disastrous.

In the past, teachers and other staff at Kaukauna were required to pay 10 percent of the cost of their health insurance coverage and none of their pension costs. Now, they’ll pay 12.6 percent of the cost of their coverage (still well below rates in much of the private sector) and also contribute 5.8 percent of salary to their pensions. The changes will save the school board an estimated $1.2 million this year, according to board President Todd Arnoldussen.

See, just use some common sense

*VIDEO* Senator Judd Gregg: Obama’s Budget “Unconscionable,” Fiscal “Malfeasance”

Congress has a midnight spending orgy!

With YOUR MONEY OF COURSE! I just want everyone to remember that this fiasco is all on the Democrats!

The House and Senate approved budgets of about $3.5 trillion for the government on Thursday with no Republican support, a sign of deep partisan tensions likely to color Congressional efforts to enact major policy initiatives sought by President Obama.

This is their bastard child, remember that voters! Remember that in 2010! Remember that when the economy gets worse, when your taxes go up, when your liberties are eroded, and when you cannot recognize your country anymore!