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Author Topic: Obama promises cuts in U.S. budget  (Read 2032 times)

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Offline Chris

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Obama promises cuts in U.S. budget
« on: November 25, 2008, 08:13:42 PM »
Obama promises cuts in U.S. budget

 CHICAGO (Reuters) – President-elect Barack Obama announced his top budget officials on Tuesday and promised significant spending cuts to partially offset a costly stimulus package that aims to revive the U.S. economy.

One obvious example: Crop subsidies to farmers who make more than $2.5 million per year, Obama said.

<snip...>

The Federal Reserve on Tuesday announced a $600 billion program to buy mortgage-related debt and securities, and a $200 billion program to increase the availability of consumer debt, such as credit cards and auto loans.

He said on Monday he has not yet decided whether to roll back President George W. Bush's 2001 tax cuts for the wealthy, which would provide the government with much-needed revenue, or simply allow them to expire at the end of 2010 as scheduled, a move that would avoid what would likely be a bruising fight in Congress.


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Offline Chris

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Re: Obama promises cuts in U.S. budget
« Reply #1 on: November 25, 2008, 08:14:10 PM »
Here comes the hatchet. 
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Offline Crazy Horse

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Re: Obama promises cuts in U.S. budget
« Reply #2 on: November 25, 2008, 08:31:47 PM »
New weapons systems, Future combat systems, all current military orders cancelled, DoD budget cut 70%, no military pay raises, civilian hiring freezes..............blah, blah
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Offline asdf2231

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Re: Obama promises cuts in U.S. budget
« Reply #3 on: November 25, 2008, 08:35:45 PM »
What scares the living shit out of me is that I saw on the news today that in order to generate the bailout money, they are basically going to fire up the printing presses. :whatever:
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Offline Chris

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Re: Obama promises cuts in U.S. budget
« Reply #4 on: November 25, 2008, 08:43:27 PM »
Quote from: asdf2231 on November 25, 2008, 08:35:45 PM
What scares the living shit out of me is that I saw on the news today that in order to generate the bailout money, they are basically going to fire up the printing presses. :whatever:

I didn't hear that.  The only thing I heard was the Big Zero's speech about "making sacrifices", and we all know what the Democrats will "sacrifice" first.
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Offline NHSparky

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Re: Obama promises cuts in U.S. budget
« Reply #5 on: November 25, 2008, 08:56:08 PM »
Well, considering that nearly 60 percent of the federal budget is on non-discretionary spending (ha!) like Medicare/Medicaid, Social Security, and interest on the national debt, you know what that leaves left to cut.

God, talk about "hollow force".  He's gonna gut the military worse than Clinton and Carter COMBINED.
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Offline Chris

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Re: Obama promises cuts in U.S. budget
« Reply #6 on: November 25, 2008, 09:04:33 PM »
I'm curious how much it would cost to privatize Medicare/Medicaid.  How much would it cost to put every person on some sort of traditional HMO plan with the government paying the premium, compared to what gets paid now by M/M.

My stepfather runs a large regional HMO that manages supplemental M/M insurance.  I've never asked him about it because the insurance industry has got to be one of the most boring things in the world aside from banking. 
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Offline lars1701c

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Re: Obama promises cuts in U.S. budget
« Reply #7 on: November 26, 2008, 05:17:03 PM »
Just when Iran is making a bomb this asshole is going to GUT our military :(


WE are so boned
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"You cannot legislate the poor into freedom by legislating the wealthy out of freedom. What one person receives without working for, another person must work for without receiving. The government cannot give to anybody anything that the government does not first take from somebody else. When half of the people get the idea that they do not have to work because the other half is going to take care of them, and when the other half gets the idea that it does no good to work because somebody else is going to get what they work for, that my dear friend, is about the end of any nation. You cannot multiply wealth by dividing it."
~~~ The late Dr. Adrian Rogers , 1931 to 2005
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