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Watch out for Obama's new promise
Posted By Dan Mangru On 04/14/2011 @ 8:46 pm In Commentary,Money | Comments Disabled
Something very dangerous is happening right now in this country.
It’s not something that just jumps out and grabs you; rather it slowly eats you away little by little, day by day.
After 10 years since our last budget surplus, Americans across the country, largely due to the tea party, have begun to rally around lower government spending and balancing the budget.
During the days of George W. Bush, America saw deficits as high as $440 billion (still too high in my opinion), yet for the most part, the people did not care.
Enter Barack Hussein Obama.
Here was this slick-talking, Harvard-educated, politician who promised everything to everybody.
He said that he would not raise a single tax on anyone making under $250,000 per year, which later became $200,000 per year.
He said that he would close down Guantanamo Bay and give civil liberties to terrorists.
He said that he would bring us together, not as red states or blue states, but as the United States of America.
Once Obama got into office, he didn’t stop promising just because the campaign was over. In fact, he promised to cut the deficit in half by the end of his first term.
So let’s see how Mr. Obama has done so far with all of his promises.
As far as taxes goes, one of Obama’s first acts as president was to enact a brand new cigarette tax which disproportionately targeted lower and middle income Americans. He also has made Americans pay the stealth tax, otherwise known as inflation.
Through all of the new spending from the Obama administration, whether it has been stimulus ($860 billion-plus), or Obamacare ($3 trillion-plus over 10 years), combined with the Federal Reserve’s massive money printing campaign (almost tripling the monetary base over the last three years), the U.S. dollar has become weaker than ever, raising the cost of living for all Americans and putting the pinch on those making under $250,000 per year.
On Guantanamo Bay, Obama ordered the dissolution of the prisoner camp, before he ordered to keep it open (sounds like a John Kerry moment). After talking tough on Guantanamo, Obama realized that nobody wanted our terrorists and that Guantanamo was the only place to put them.
He’s batting 0-2 so far, but maybe there’s some bright news, how ’bout that bringing together the United States promise, you know, no more red states and blue states.
I don’t know if you’ve turned on cable TV, read a newspaper, or have just been alive the last two years, but you would be hard pressed not to argue that America is more divided than ever.
Due to Obama’s leftist policies, the people have created a massive grassroots groundswell known as the tea party. Obama has continually tried to play the class warfare card pinning the wealthy against the poor, the haves versus the have-nots.
Things aren’t looking so good for Obama’s campaign promises so far. But wait, Obama did say he could cut the deficit in half by the end of his first term.
This one seems the most plausible, but for a very sneaky reason.
In Obama’s first year in office (2009) , he presided over the largest increase in government spending in United States history. That $440 billion deficit ballooned to north of $1.4 trillion, over a 350 percent increase.
Therefore, President Obama only had to get the deficit down to $700 billion in order to keep his promise, which keep in mind was a $260 billion increase over the previous all-time high of $440 billion.
As luck would have it, the deficit for Obama’s next year in office turned out to be $1.6 trillion, even higher than his last all-time record deficit.
At this point, the American people had enough. They elected in a brand new Congress and demanded real fiscal change.
What was Obama to do? He balked on his most sure-fire can’t miss promise, and now it had gone to hell in a hand basket, leading to the rise of the tea party and the elimination of the Democratic majority in Congress.
So in true Obama fashion, he did the only thing he knew how to do: make a new promise of course.
In President Obama’s last State of the Union address earlier this year, he vowed that he was going to get tough on spending, so tough that he was going to enact a spending freeze.
Yep, after $1.6 trillion of overspending, President Obama vowed that he would never overspend by $1.6 trillion again. He was putting the freeze on it.
Victory Number 1. The tide is turning. Obama is now making promises that he can keep.
Now after a nasty battle to fund the government for the rest of the year, a battle that President Obama largely stayed out of, Obama is back to doing what he does best.
After our government nearly shut down, Obama has emerged like a phoenix from the fire to save America and be the hero. After all Barack H. Obama stands for Barack Hero Obama.
So after those greedy Republicans put forth a deficit reduction plan that cuts $5.8 trillion over the next 10 years, President Obama did them one better.
He has made a promise to cut the deficit by $4 trillion over 12 years.
Less money, more years. That sounds definitely doable. Obama doesn’t seem like he’s reaching too far.
That’s the trap. If American public buys that President Obama will follow through on his promises of deficit reduction, they will stop the protesting and the huge swell of grassroots activity.
They will believe that they have won the fight on the budget.
The American people must realize is that Obama isn’t telling all of the facts and is framing the argument in a deceptive way.
As the law stands now, we would have $7 trillion of deficits over the next 10 years.
What President Obama wants to do is cut the budget deficit in half over 10 years. Well, last time I checked, he’s only got a little under two years left in office.
Basically, Obama has set the bar so far out that he’s saying unless you re-elect me, you won’t have your deficit reduction (which is different than cutting spending, or eliminating the budget for that matter).
If President Obama is not re-elected and the budget goes south, he can say, “I had a plan and you didn’t follow it.”
Obama must subscribe to “Convenient Theories for Me” Magazine (I hear the magazine is growing in popularity).
It’s a great plan for President Obama, not so much for the American people. The Democrats and Republicans keep talking deficit reduction when they should talk deficit elimination.
Rep. Ryan’s plan calls for a balanced budget by 2030. Does anyone else see how outrageous that is as well?
Former House Speaker Newt Gingrich balanced the budget in only three years after the Republican Revolution of 1994. Apparently, Ryan must be taking a page out of the Obama playbook.
This article would have been a far more in-depth analysis of President Obama”s budget plan, if he had one.
All we heard in his speech was that he’s going to raise taxes on the rich, cut in a few areas, with vague details as to how exactly those cuts will be made, and raise revenue (which is code for more taxes).
As more details about this budget come out, we’ll be sure to analyze them, but for now all we have is all that President Obama has ever given us.
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