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Obama's $3.9 Trillion Budget Predicts Fastest GDP Growth Since 2005
Having destroyed any credibility that this budget could possibly have yesterday, President Obama has outdone himself with the predictions in this $3.9 trillion budget...
- *OBAMA BUDGET PREDICTS FASTEST GDP GROWTH THIS YEAR SINCE 2005 (US GDP estimates collapsing)
- *OBAMA BUDGET SAYS ECONOMY MOVING FORWARD, HOUSING `COMING BACK' (home sales plunge at fastest pace since 2011)
- *OBAMA BUDGET CITES 'ENCOURAGING SIGNS' ACROSS INDUSTRIES (US Macro worst start to year since 2008)
But apart from that, yeah, "nailed it"
President Barack Obama proposed a $3.9 trillion budget package Tuesday peppered with new taxes on upper-income Americans and businesses, plus numerous spending initiatives aimed at bolstering education, research and low-income work programs.
The president's spending plan for the fiscal year that begins Oct. 1 doesn't rest on new or lofty policy goals, reflecting a town hibernating from budget exhaustion and girding for midterm elections in November. Instead, it offers targeted and familiar proposals, including an overhaul of corporate taxes, which it says would boost job growth and make U.S. businesses more competitive.
...
Many of the proposals are likely to meet a cool reception on Capitol Hill, where both parties are preparing for November elections that could change the balance of power on Capitol Hill.
As Bloomberg adds,
President Obama proposed raising $104b over next 10 yrs in his fiscal plan for 2015 with new restrictions and taxes on multinational cos. that weren’t included in last yr’s budget.
* Changes would affect digital goods, deductions for “excessive” interest and so-called hybrid arrangements that can lead to income not taxed in any country, according to budget; Obama also wants to make it harder for cos. to expatriate
* In all, Obama’s budget wants to raise $276b over next 10 yrs from international tax changes, 75% more than it sought last yr
* Wants to dedicate revenue to lowering corporate tax rate to 28%
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Nothing a war can't fix.
The Choomwagon Budget....
"The Buckwheat Stops Here"
moar bama fones, Everybudy in Cleveland has a bama fone
Is this budget for all 57 states?
25% of GDP.. This can't miss.. They just need to keep it up for another 10 years and it will fix itself.
Silly me I thought people needed jobs to have growth.
Labor Force Participation in 2013 Lowest in 35 Years
knukes. +1,000
Humor... With 0 as our president, we need it.
knukles and Atomizer are two of our ZH gems.
Beware of Russians bearing pins.
Just let my lad know about the debt Obama says he can have
http://artsmoothie.files.wordpress.com/2011/10/googlyeyebaby.jpg
GDP growth means little when 40%+ of GDP is parasitic government spending. Propaganda, bitchez.
Well, somebody has to eat all of this seed corn!
At $4 trillion, the US Government will be the 4th largest economy unto iself and the US will remain #1 -even if it secedes from such an unholy union.
Reality is something you create and force upon others.
Many of the proposals are likely to meet a cool reception on Capitol Hill, where both parties are preparing for November elections that could change the balance of power on Capitol Hill.
A balance between two objects generally requires two objects. Here, Capitol Hill is a unique cesspool of like minded vermin that has no counter balance.
Why? Because there's NEVER been such a thing as an "informed voter."
Anybody with any sense recognizes the only logical choice is NOTA.
Meanwhile 100M sheeple decide the flavor of the next raping.
Budget? WTF is a budget?
Yeah, because that's just what a government running deficits in excess of $600 billion a year needs - more spending initiatives.
Oh well......there goes the taper........
$5.8 trillion a year on a GAAP basis.
Just a slight $5.2 tn difference between friends.
Its only fiat
budgets, so 2004
LMFAO!!!!
May I interest you in a financial "product" of mass destruction?
Nothing has been "fixed" folks and when fraud is the status quo, possession is the law.
Of course, "mark to fantasy" accounting is still very much in play, so in a hyperinflationary environment, the accounting may work out in his favor.
hedge accordingly.
Oh..
My takeaway was that ACA and MyRa were being factored in
All of this is this one big joke.
on us... :(
Did that idiot Oblowhard click the heels on his Ruby Red Shoes while delivering this budget?
No, but he produced his pet unicorn for the presser. And the unicorn immediately started shitting Skittles. You should have been there.
Taste the rainbow!
That is some seriously funny shit.
Where will the accountability be if this growth doesn't materialize. More green shoots BS?
Dont worry CNBC has it all under control!!
In otherwords, Obama is pricing in rampant inflation from the Fed's 'experiment'.
LIE. PAPER OVER. LIE. PAPER OVER. LIE. PAPER OVER. SQUIRREL !
A unicorn salad in every pot!
Hah!
To the moon...
The U.S. guided-missile cruiser USS Ramage, an aircraft carrier and the 6th Fleet have raised anchor off the coast of Greece and are reportedly headed for the Black Sea. The U.S. ships are expected to pass through the Dardanelle Strait on Friday. According to the Montreux Convention signed in 1936, the passage of aircraft carriers through the Turkish straits is prohibited
Ukraine crisis: No solution is in sight, says German foreign minister Steinmeier
Obama holding high level meeting on Ukraine with top military advisers, says official
Remember this 1988 incident in the Black Sea?
http://www.youtube.com/watch?v=N4jQhnXrWbg
Sailing there is like putting a ship in a bottle. Its stoopid.
How about this one, its even better:
http://www.youtube.com/watch?v=SME4w037FgA
I'm no miltary genius, but I wouldn't put an aircraft carrier in a confined area like that. No where to run, no where to hide.
Fuck, doesn't NATO have strike aircraft a few hundred miles off. Why the fuck would you need an aircraft carrier?
maybe we're supposed to lose this one...by design
Because these fools don't care about military tactics, its all about who has the BIGGEST DICK now, and I hope the "first black prez" can live up to the mythology, because that Russian bulldog is looking and feeling pretty confident, he does!!
Or it is on route to Syria...
GDP=Global Debt Percentage...
What budget? There is no debt limit. Obama can spend as much as he wants before the election. He can double spending if he wanted to so more democrats get elected.
Getting tired of waiting for this sucker to blow. Wake me up when the S&P is under 666 and Gold over $2000.
It can hit you like a boulder, when you finally understand how bad things are.
https://www.youtube.com/watch?v=wkivn_3zn5I&list=WL9AC40DFE8E9F273D
A Warning we never listened to. Never seen him tear up like this. I feel his pain.....we all do or will soon.
Money isn't the root of all evil. Bullshit fiat money conjured up out of thin air and loaned at interest is the root of all evil.
+1000
The lack of access to the Fed window is the root of all evil.
Failure!
The President has now, with this budget, been completely honest with the citizens. This is unabashedly a Socialistic Budget. It goes unashamedly into all aspects of citizens lives where Jefferson said States should go while he warned about the grave dangers of Federal Government!
Admittedly the Republicans have offered a weaker but, still incredibly Socialistic response of their own. However it pales in comparison to the Presidents vision of an all compassing all powerful government here at home while paying for it with historic weakness abroad. There can be no more pretense as we fall into this seemingly inevitable trap spoken of as the gravest danger by Jefferson well over 200 years ago. SAD. (There was hope that some capitalists would appear)
This path began with Wilson was ratified by F. Roosevelt, pushed by Nixon verified by Carter and accelerated by Bush. This president has pushed us over the edge. Economic and Social failure is now assured. hedgemastermb.blogspot.com
It's amazing how many people here still say both parties are the same. Sheer stupidity. Neither party is for the working stiff, but to say both parties are the same is idiocy.
WHY doesn't the media treat both parties the same if both parties are the same?
can't really answer your question. it's as good as mine: why does a country like the US still use such an antiquated electoral system? one that guarantees that there are only two major parties? which means that a party dies only all... 100 years?
looked from the outside, Americans choose their residence according to the incumbent congressman, who then redistricts if necessary
again, when was the last time the US Constitution was amended? you can say whatever you want about the EU, but... we are Founding Fathers, in comparison (of a confederation, the way it's going). And we have 100+ parties...
hell, the UK has a similarly oldfashioned "winner takes all" electoral system and still manages to have several parties, so you can't even blame all on the system
And we'll spend 4 Trillion..
Obama + nicer words = Putin
Zero, "Sticks the landing" once again!
Why should anyone care what budget any President proposes. Spending and budgeting is the constitution domain of Congress. Would be nice if these 435 dysfunctional idiots could get off their overpaid and underworked asses and put a budget together.
their job is to be paid, useful idiots with lots of skeletons in their closets so they can remain subserviant, and they know it
The Skittle-shitting Unicorn herd is on it's way, just now galloping over the top of the rainbow!
Obama, please move the White House to Hawaii and sever all communication lines to the world.
That makes sense with CL pushing the $105.00 barrier yesterday, and personal spending stretched to recent highs.
Oh, and let's not forget "Okillya Care" costs, and the Drought(higher food costs) for good measure. BTFATH!
Choom. Its 'whats for dinner'!
I want what he's smokin'.
Bigger than the GDP of Germany. Yeah..that make sense.
WAIT....I think I'm gonna need my rose-colored glasses to read this!!
Since his people create the GDP numbers I wouldn't be surprised.
I have this mental arithmetic I do when I see big numbers like $3.9 trillion.
Basically there are roughly 333 million citizens in America. So if the Government spends $1 Billion on something that's three bucks from each citizen. Spending $1 Trillion is $3,000 from each citizen.
So a $3.9 trillion budget is pushing $12,000 per citizen or $48,000 for a family of four. This is insane. A family of four can live off of $48,000 easily.
Basically this means THE ENTIRE COUNTRY COULD LIVE ENTIRELY OFF THE FEDERAL BUDGET.
317,493,000 residents -> $12,300 per peon
211,731,000 eligible voters -> $18,400 per petitioner
154,794,000 members of the workforce -> $25,200 per tax donkey
Yeah, this ends well, considering the FY2009 budget missed revenue projections by 700 BIllion dollars....Guess we'll see 20 Trillion easily by 2020, heck might even see 21 o 22 Trillion if interest rates go back to "normal"
The old USSR used to make predictions about the economy, I think they called them 10 year plans and if the predictions didn't happen then at least the grave diggers were kept busy.
It's Bush's fault
Green Shoots are bad for business?
Students need Yellen to go ahead and up their FAFSA.
Only the moronic sheeple would buy this baloney... but what else would u expect from such an arrogant, narcissistic pathological lying ilegal alien kenyan muslim sociopathic ignoramous only interested in maintaining it and its wookie's grand imperial life style....
"Encouraging signs" is the new "green shoots"?
I never saw a Budget that could not be Printed into the Black! "Hey Everybody, We're All Gonna Get Laid!!!"