He also said in 2008 that 9 trillion in debt was a disgrace. which is it Mr. Obama Seems to me you say what ever you think is in your best interest to dupe people.
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The problem is that until the American people stand up and say enough, we will continue to see spending like water through a sink hole. And, when will that be?
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And, as a part of the overall, what's to be done about this...
Over the 70-plus years that Social Security has existed (and as payroll tax rates have been increased and eligibility requirements adjusted), revenues collected via the payroll tax for the Social Security Trust Fund have exceeded payments made to beneficiaries, to the tune of about $3 trillion. That’s the good news. The bad news is that, under current policies and unavoidable demographic trends, that so-called “surplus” will be zeroed out in 2033 -- a mere 20 years from now.
-- Once the tipping point (outlays over income) is reached, and unless changes are made to the program, payroll taxes will cover only 75 percent of the cost of Social Security. The gap, if allowed to occur, can only be covered by general revenues or by incurring more national debt -- or by reducing benefits. Again, the numbers -- the facts -- don’t lie.
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Turning to Medicare, the facts -- untainted by ideological or partisan considerations -- are even more troubling.
-- The cost of health care in America is and has been increasing at a much faster pace (three times as fast, actually) than the overall cost of living;
-- Money spent on health care in the U.S. now accounts for one-fifth of our entire Gross National Product, which is up from one-seventh just 20 years ago;
-- Despite that level of expense, which is the highest per capita in the world, many other nations can accurately boast that they are home to much healthier people;
-- In 2010, 48 million Americans were on Medicare, and by 2030 (just 17 years from now), that number will increase to 80 million;
-- In 2011, the federal budget figures for the three main health benefits programs (Medicare, Medicaid, and Children’s Health Insurance) totaled $769 billion, or 21 percent of the total budget (compared to 20 percent each for Social Security and defense).
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As is the case with Social Security, the arithmetic concerning Medicare doesn’t lie.
It is true that no single policy change can be concocted that will solve all of the problems, regardless of the politics. In fact, getting things under control will require a whole set of tough and politically unpopular choices. But, neither are the possible remedies any secret. They have been suggested by a range of thoughtful and honest people for years. Raising the retirement age, adjusting eligibility requirements, extending the payroll tax(es) and other ideas have to be on the table for discussion. Saying “No!” before the conversation even starts is worse than irresponsible, it’s dangerous.
As John Adams once said, “Facts are stubborn things.” They are also often inconvenient, uncomfortable and unavoidable. So, can we figure out how to start and focus the conversation there, rather than on myths, ideology or partisan orthodoxy?
As for the coming flow of baby boomers into Medicare, the Democrats declare that “new retirees deserve the same promise of quality, affordable health care from which their parents have benefitted — and it is the position of the Senate Budget that they ought to get it.” There’s plenty of excoriation for the GOP “premium support” plan. But there’s no explanation of how the Democrats would pay for their “promise” — nary a hint of the many cost-saving reforms that would extend Medicare’s life without embracing the GOP plan.
In short, this document gives voters no reason to believe that Democrats have a viable plan for — or even a responsible public assessment of — the country’s long-term fiscal predicament. Read alongside the GOP’s own partisan outline, it leaves only a faint hope that sensible members of the democrat party, together with Mr. Obama, might yet even attempt to solve this very serious problem.
Kozy62 sounds like a Tea party republican first class, Too dab they are on their way out.
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Not me but focus on the unimportant and you don't have to be real. Are you saying that those who are in the tea party are not Americans?
You see, I don't belong to the Tea Party...have never been to a meeting. I do however let you offer an opinion whether I agree or not and do not call you names.
The Tea Party members are not trying to destroy the country as I see it...they have ideas that they believe make it better.
So, if you believe in the Constitution then I have a right to post factual information. If you are not interested in fact...can't make you. If you only believe info whether true or false only because the info is coming from a party source, you are missing a lot.
Whatever, the Constitution was written for all of us.
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“My goal is not to chase a balanced budget just for the sake of balance."
Those words are frightening. He claims the budget is balanced but nobody needs to know it's balanced we are just suppose to trust him it is. He really expects people to believe this he really does.
"My goal is how do we grow the economy, put people back to work, and if we do that we are going to be bringing in more revenue,” Obama said."
Did you ever listen carefully to his words? Does anyone? This man is an absolutely clueless?
His goals? Always start out with the same words.
HOW DO WE? How do we grow the economy? How do we put people back to work? If we do, we will bring in more revenue?
How can people not see through this? He has no plans. NOTHING. Whatever happen to this is MY GOAL and I will accomplish this for the American people? The reason you put me in office.
Who is "WE". So when the country collapses. I bet his words will quickly change to...I didn't fail, we d
...didn't fail..YOU FAILED.
I can not get my head wrapped around how so many people can accept this debt. At what number past $17 trillion, will it take for the Obama lovers to say enough is enough?
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WatchDog, before anything else he will say that it's ______'s fault. You can fill in the blank...but it won't be a progressive or liberal.
What if our Schools decided they don't feel a need to balance a budget?
What if our local government decided they don't feel a need to balance a budget?
What if our State decided they don't feel a need to balance a budget?
Those three entities would be charged with violating the constitution and held accountable for their actions.
OldMan74 states: "Kozy62 sounds like a Tea party republican first class, Too dab they are on their way out."
OldMan74 after your done entertaining yourself do you have a response as to why you find what Obama is doing as acceptable with this budget and $17 trillion dollar deficit?
Your constructive opinion would be what? How about you telling us why you support this debt and the fact this President is violating the constitution?
obama is a lying moron who would do us all a favor if he just went away.
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Senate 'Hair Care Services' cost taxpayers $5 million...
It's about time we started to demand this stop!
Some facts you ought to know...
Federal spending was $30,548,000,000.00 more in the first five months of fiscal 2013 than it was during the first five months of fiscal 2012.
The federal government is also spending at a much faster pace this year than it did before President Barack Obama took office.
In the first five months of fiscal 2008 (the last full fiscal year before Obama took office), the federal government spent $1,230,412,000,000.00. That is $274,315,000,000.00 less than the $1,504,547,000,000.00 that the federal government spent in the first five months of this fiscal year.
So far this fiscal year, the federal government is spending an average of about $300,909,400,000.00 per month. If the government maintained that average pace for all 12 months of the fiscal year, it would spend a total of $3,610,912,800,000.00.
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And while we drown in debt and millions are unemployed...
Noble Americans can buy time with the president for a suggested donation of $500,000 to his new campaign group, Organizing for Action.
Yes, the announcement offering access to the president for cold, hard cash was made openly and with total transparency. But it was also made without shame.
It's the third version of Obama's original monster campaign machine, Obama for America, which then morphed into a re-election campaign machine, Organizing for America, on the third day of his first term.
It has now re-launched again as Organizing for Action (OFA) - a non-profit, tax-exempt group headed by his former campaign advisers. Apparently no longer "for America", the group might just as well be called Organizing for Obama's Agenda.
Its mission: to support the president in his attempt to achieve enactment of gun control, environmental policies and immigration reform.
Obama said he prided himself on feeling no obligation in the past to the interests of the generous donors who made his election and re-election possible. Though paradoxically he also said he wanted "to make sure the voices of the people are actually heard in the debates that are going to be taking place". So, he'll take money to listen to the voices of the privileged, but not do their bidding? RIGHT!
May I humbly suggest he could hear more voices, more clearly if he mingled with the public he serves? Perhaps the White House could hold open tours for the public! Why has no one in his administration thought of that? And volunteers could manage those tours, to keep costs down!
But, of course, those are what have just been cancelled. Meanwhile, three calligraphers reportedly remain on staff. I suppose their services are needed for the special hand-lettered, gold-foiled invitations sent to the nobles who are willing to pay for an audience with the King. And, we will soon hear
" Let them eat cake?"
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Bob, please re-read. Boehner did say he trusted Obama but added taxes were a no go and the ballanced budget was necessary.
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So if so many here believe spending is out of control...why do so many disagree with the facts, figures and suggested solutions?
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And, I know some say that spending has nothing to do with the debt...I say wake up. Stop letting certain people dumb you down...it has everything to do with spending. And, if we don't demand it stop, and the debt keeps growing...will the government do what they're doing in Cyprus?
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