It's True - ObMa to Bring Massive New Debt

[kantuckyII]

White House data supports Republican presidential nominee Mitt Romney's warning that if President Barack Obama wins re-election, the national debt will hit $20 trillion.

America's gross federal debt will reach $20.3 trillion at the end of 2016 under Obama's budget path, according to the White House Office of Management and Budget. The national debt is currently $16.1 trillion.

"Nobody who looks at the numbers thinks it's realistic for us to actually reduce our deficit in a serious way without also having some [added] revenue," Obama said during a recent interview with the Des Moines Register.

"We've identified tax rates going up to the Clinton rates for income above $250,000; making some adjustments in terms of the corporate tax side that could actually bring down the corporate tax overall, but broaden the base and close some loopholes. That would be good for our economy, and it would be good for reducing our deficit."

"In the short term," Obama added, referencing the so-called budget "sequester" that is poised to deliver automatic cuts, "the good news is that there’s going to be a forcing mechanism to deal with what is the central ideological argument in Washington right now."

Obama identified the "central" conflict as, "How much government do we have and how do we pay for it?"

In the last presidential debate, Romney said, "There are two very different paths the country can take" after the election.

"One is a path represented by the president, which, at the end of four years, would mean we’d have $20 trillion in debt, heading towards Greece. I'll get us on track to a balanced budget," Romney said.

"The president's path will mean continuing declining in take-home pay. I want to make sure our take-home pay turns around and starts to grow." (RELATED: Former Labor Dept. official: Friday's jobs numbers won't swing election)

FactCheck.org points out that Romney's claim is factual, but "under the budget proposed by his running mate [Rep. Paul Ryan] and embraced by Romney, the total debt would still hit $19 trillion by the end of fiscal year 2016" --- $1.3 trillion less than Obama's projected budget path.

If Obama won re-election, the national debt would reach $17.4 trillion by the end of 2013, according to the "Mid-Session Review" published by the White House Office of Management and Budget.

The report contains "revised estimates of receipts, outlays, budget authority and the budget deficit for fiscal years 2012-2022."

The debt would hit $18.4 trillion at the end of the 2014, $19.4 in 2015 and $20.3 in 2016, the report says.

When President Obama took office in 2009, the debt stood at $10.6 trillion.

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[abuck76]

Take out the bush tax cuts and the two unfunded wars, and Obama's increase would be less than 1%....fact....... :12224

[C-Bolt]

That's right abuck back in sept. Obama's policies totaled 1.44 trillion,very tame compared to the over 6 trillion the cons tell you,and don't forget that 800 billion bailout bush gave to the banks and a depression already in full bloom

[Bear]

The president has served over the lowest growth of government than any president since before WWII.

[kantuckyII]

And record spending!

This is a cluster! Obama might actually lose these states too!

with gas supplies topped the list of issues causing tensions to boil over in New Jersey, New York and Connecticut, the states hardest hit by power outages in the wake of superstorm Sandy. Residents jockeyed for fuel at the few stations still pumping, searched store shelves in vain for batteries, struggled with sporadic cell phone service and found themselves unable to buy necessities at supermarkets.

[kantuckyII]

Obama has left these people!

Sandy-Starved New Yorkers Dumpster Dive
Homes and businesses in the Lower East Side and East Village are still without power and under water. Residents began dumpster diving outside a Key Food supermarket Thursday, looking for whatever food they can take. Jonathan Vigliotti reports.
By NBC 4 New York | 3 hours ago

[ManitouDan]

to believe obama is not a huge spending liberal you must be either blind, drunk , high, stupid, ignorant , foolish, dumb or any combo of the previous . Even the people who like him agree he a big spendor and they agree with the level of high spending and usually want more .

[dazed&confused]

Obama has left these people!

Sandy-Starved New Yorkers Dumpster Dive
Homes and businesses in the Lower East Side and East Village are still without power and under water. Residents began dumpster diving outside a Key Food supermarket Thursday, looking for whatever food they can take. Jonathan Vigliotti reports.
By NBC 4 New York | 3 hours ago

By Associated Press, Updated: Thursday, November 1, 5:02 PM
WASHINGTON — In a rare airlift, the Defense Department is flying 17 aircraft from California to New York loaded with power generation equipment and crews to help restore electricity to the millions of homes and businesses devastated by Superstorm Sandy.

The Pentagon says the 630 tons of equipment is being provided by Southern California power companies, including Southern California Edison and Pacific Gas and Electric Co.

The equipment includes 10 double bucket trucks, nearly 20 pick-up trucks, and a number of other trucks and equipment, as well as a mobile command center. It was to arrive Thursday at the Air National Guard base at Stewart International Airport north of New York City.

The massive transport operation was conceived Tuesday afternoon during a teleconference call among utility executives, President Barack Obama, Federal Emergency Management Agency Administrator Craig Fugate and Energy Secretary Steven Chu.

According to the White House, West Coast utility executives said they had equipment ready to travel overland to storm-stricken areas. Obama, who had entered the call unannounced from the White House Situation Room, said the utilities should inform Fugate of their highway routes to ensure the quickest passage and asked how the transfer of equipment could be accelerated.

Fugate then indicated he would consult with the Pentagon about the possibility of using military transport planes. At that point Obama, instructed Fugate to make that happen immediately.

Yea, what a way to leave 'em!

[kantuckyII]

to believe obama is not a huge spending liberal you must be either blind, drunk , high, stupid, ignorant , foolish, dumb or any combo of the previous . Even the people who like him agree he a big spendor and they agree with the level of high spending and usually want more .

I think you have to have a man crush. You know being in an abusive relationship with a guy that slaps you around and the girl goes right back to him. That's what they're in!

Obama should I had this all set up the hurricane hit! What in heavens name was that man down in Florida for?!

[dazed&confused]

to believe obama is not a huge spending liberal you must be either blind, drunk , high, stupid, ignorant , foolish, dumb or any combo of the previous . Even the people who like him agree he a big spendor and they agree with the level of high spending and usually want more .

I think you have to have a man crush. You know being in an abusive relationship with a guy that slaps you around and the girl goes right back to him. That's what they're in!

Obama should I had this all set up the hurricane hit! What in heavens name was that man down in Florida for?!

AGAIN SIR, abusive relationships are nothing to be made light of. They are complicated. Some people cannot escape them. If you care to PM me on this, I will explain my deep feelings on this matter but I care not to put them in public on this forum. I cannot respect a thing you say until you get off this analogy!

[ironmen1987]

Inhofe: Obama won't release regulatory agenda because of 'terrible' impact on jobs

(REUTERS)
President Obama will not comply with a federal law requiring him to release his regulatory agenda because he doesn’t want Americans voters to know the “terrible cost” it would have on the economy should he win re-election -- include the loss an estimated 887,000 jobs annually, says Sen. James Inhofe, ranking Republican on the Senate Committee on Environment and Public Works.
Inhofe cites the Regulatory Flexibility Act that requires federal agencies to assess the impact of their regulations on small businesses. He says Obama failed to comply with the law twice over the past year – specifically the April and October deadlines.
“President Obama is refusing to comply with the law that requires him to publish forthcoming regulations because he doesn’t want the American public to know the terrible cost of the regulatory barrage he plans to unleash in a second term,” Inhofe said. “So instead of being honest with the American people about what’s in store if he wins, he’s been trying to hide the fact that he intends to move forward with a slew of rules that will destroy hundreds of thousands of jobs and dramatically raise the cost of energy on American families.”
The Oklahoma senator sent a letter to the president Sunday asking him to publish the administration’s agenda before Oct. 31.
“Businesses and communities need to understand the future regulatory landscape,” he wrote.
The projected loss of 887,000 jobs annually is from a National Economic Research Associates report last month. The international economic firm in its 129-page report that states the coal industry would be hit hard and the job losses would continue through 2034.
Inhofe, also last month, released a report stating the Environmental Protection Agency has delayed action or “punted” on numerous regulations while Obama tries to “earn votes” for a second term.
The 14-page report states when the agency approves the roughly one dozen regulations next year in 2013, they will “spell doom” for jobs and economic growth.
The report cites pending regulations on a wide range of environmental-economic issues including those on power plant emissions and hydraulic fracturing and concludes pending, overall regulations on greenhouse gases if enacted would cost $300 billion to $400 billion annual and significantly increase the price of gasoline and home heating

[kantuckyII]

If Obama wins again the fallout will perhaps be far too large for this country to absorb. The masses seemingly are unaware of the doom to follow. The only thing I can think if to compare is the residents of Hiroshima looking up watching what they thought was a weather plane passing on a beautiful sunny day...even while that bomb made its way earthward

[abuck76]

Every time you open your mouth you embarrass yourself........How can one that knows anything, use Hiroshima as a comparison to anything?.........It just shows your ignorance and lack of the very basic historical relevance........The amount of increase in the debt is laid at the feet of of BUsh...two unfunded wars and the Bush tax cuts..........That is a fact.......If this president were a republican , you would be wanting to put his picture on Mt Rushmore for what he has done.........You just look like a pitiful uneducated ideologue.......There is absolutely no reason to attempt to explain it any further, as you do not have the comprehension ability to follow.......My high school kids, even the conservative ones can understand that........They do not want Obama based on sound conservative ideals, not some inane blathering.........It makes me more proud of my Liberal and Conservative kids, after listening to so-called intelligent adults, that obviously have no clue........... :12224

[mustang_lvr]

Every time you open your mouth you embarrass yourself........How can one that knows anything, use Hiroshima as a comparison to anything?.........It just shows your ignorance and lack of the very basic historical relevance........The amount of increase in the debt is laid at the feet of of BUsh...two unfunded wars and the Bush tax cuts..........That is a fact.......If this president were a republican , you would be wanting to put his picture on Mt Rushmore for what he has done.........You just look like a pitiful uneducated ideologue.......There is absolutely no reason to attempt to explain it any further, as you do not have the comprehension ability to follow.......My high school kids, even the conservative ones can understand that........They do not want Obama based on sound conservative ideals, not some inane blathering.........It makes me more proud of my Liberal and Conservative kids, after listening to so-called intelligent adults, that obviously have no clue........... :12224

sounds like Mr K doesn't know much