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What's Obama's plan for debt reduction?

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Alarms are being sounded by economists from both sides that our ever expanding debt and deficit spending are unsustainable and will cripple our economy going forward.

 

What plan has Obama put forth to deal with this problem?

 

What action will Obama take to reduce goverment spending?

 

Will Obama stop spending money that we do not have?

 

At the rate the Obama administration and this congress are spending all we will have left in our pockets is change.

 

I wonder if Obama and the liberal leadership in congress would support a balanced budget amendment.

 

I wonder if Obama even sees this for the massive problem that it is and the bigger problem will become.

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View PostNow you're worried about this? When Bush cut taxes so we could fight a war, that was a great idea huh?

 

 

Cutting taxes expands the economy.

 

Too simple eh?.

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View PostCutting taxes expands the economy.

 

 

Too simple eh?.

 

Cutting taxes AND borrowing to cover the difference expands the economy. Please direct us to a single example in American history where taxes were cut AND spending was cut at the same time. Every dollar in spending cuts reduces the GDP. Not saying it does not need to happen, but even under the Grand Poo-Bah of tax cuts, Reagan, spending was not cut to rates before his tax cuts.

 

 

Your theory has never been tested.

 

 

As for the OP's question, spending cuts are coming in the fall.

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View Post

 

As for the OP's question, spending cuts are coming in the fall.

 

Barry and Congress will actually cut spending after they spend us into even more debt

 

beers.gifbeers.gif

 

what's he gonna cut? Obamacare? Maybe repeal the porkulus bill?

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My fault, your fault, nobody's fault.. You guys are missing the point. America cannot sustain the kind of spending we have seen over the past five years. Our debt is out of control. Now, how is Barry Boy going to fix the problem? Get over But, But, Bust and get over the failed stimulus bill, what we need is serious debt reduction does Barry Boy have a plan?

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View PostMy fault, your fault, nobody's fault.. You guys are missing the point. America cannot sustain the kind of spending we have seen over the past five years. Our debt is out of control. Now, how is Barry Boy going to fix the problem? Get over But, But, Bust and get over the failed stimulus bill, what we need is serious debt reduction does Barry Boy have a plan?

 

I'll tell you how I'd start fixing the problem.

 

I'd get rid of Social Security and Medicare.

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The White House is directing agencies to develop plans for trimming at least 5 percent from their budgets by identifying programs that do little to advance their missions or President Obama's agenda.

Thats what? The Army.

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his budget included a freeze on all discretionary spending and the bush tax cuts are scheduled to expire.

 

spending less and taxing more are a dicey proposition and many economist concur that this very same policy deepened the depression in the 30's

 

 

but we also know spending more than we take has long term consequenses.

 

 

it is a conundrum that involves tough decisions and sacrifices both in the sort term and the long term.

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