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Wednesday, April 4, 2012

President Obama Ruined the Economy, Paul Ryan Will Fix It


By Jesse  Merkel

Despite all of his speeches about bringing people together, President Obama is not a pragmatic leader who can find common ground like certain presidents who came before him. He talks a good game, but in reality is much more partisan than any president in the past three decades. A Democrat ideologue, he has governed under those principles since the day he took office. Sometimes ideologues allow their ideals to cloud their vision, at the expense of the people they govern.
Obama and his Democratic allies in Congress have increased the debt more in three years than President Bush did in eight, reports CBS News. That shows just how little he cares about the country’s financial woes, no matter how much he tells people that the economy will recover.
CBO Report: Paul Ryan Budget Would Double Revenue to $4.6 Trillion By 2022
President Barack Obama
Obama has repeatedly understated and lied about America’s financial situation. The national debt is skyrocketing past $15 trillion dollars. A photo posted on the Independent Journal Review shows that on average, the federal government takes close to $2.2 trillion in tax revenue each year. The federal budget this year is close to $3.8 trillion. That gives us new debt of over $1.6 trillion.
Deep in our recent memories, we can recall how Senator Majority Leader Harry Reid (D-NV) talked about the ‘draconian’ cuts in the budget of $38.5 billion. This is hardly draconian. $38.5 billion is barely 1% of the entire federal budget. With projected annual increased, it could be less than that.
Obama is completely tone deaf on this issue. His proposed budget was for $3.6 trillion, further adding onto the debt. Even if the Bush tax cuts were allowed to expire next year, it would not even be close to covering it. The House defeated the Obama budget with a unanimous 414-0 vote.
Obama’s solution consists of tax increases, and lots of them. Supposedly if we raise taxes on the wealthiest 2%, we’ll all be living in a utopian paradise. Except it won’t work, and Obama knows that.
According to the IRS reports from 2009, the most recent year available, tax increases on the wealthiest Americans would barely make a dent. In 2009, there were approximately 8,274 Americans with an annual income over $10 million a year. If you taxed this group 100%, the federal government would take in about $240 billion, which is not even enough to fund it for a month.
Do we listen to the ‘occupiers’ and raise taxes more? If we included everyone who made at least $1 million a year and taxed them at 100%, that would bring in $726 billion a year, which might help the government for over two and a half months at current spending rates.
Taxing is not the answer, even when you take everything that everyone earning over a million dollars a year takes in.
In response to this fiscal disaster in the making, House Budget Committee Chairman Paul Ryan (R-WI) has drafted a budget for 2013, which drew immediate fire from Democrats.
Obama knows that people have come to depend on their entitlements. Scare the hell out of them and they won’t agree with any agenda put forth even if it won’t affect anyone over 50 and would make the financial problem much easier to solve. When a budget proposal similar to Ryan’s was released last year, videos were produced of a Ryan impersonator throwing a wheelchair-ridden grandmother off a cliff. So much for a party claiming for more 'civility.'
Additionally, Ryan’s budget proposes cutting the corporate income tax rate, which is now the highest in the world, from 35% to 25%, dead even with that of China.
The Ryan budget also closes loopholes and eliminates many deductions, things many Democrats claim to love, except when it is in a Republican budget and they can convince Granny she’s about to be fed to the crocodiles. The CBO also recently scored the Ryan budget, calculating that revenues would double over the course of the next ten years under this budget, from $2.444 trillion to $4.601 trillion by the year 2022.
While this budget still has room for tweaking, it’s a great first step. Over time it would not destroy  Independent Journal Review . It actually gives their existence a fighting chance, because if nothing is done, they will go bankrupt.
President Obama misled the American people this week when he criticized the Ryan plan. He will do it again, in order to drive its negatives higher in the polls.

4 comments:

Anonymous said...

Oh yes. The Obama administration took the economy from a hopeless downward spiral to it's present state of recovery. Without 8 years of Bush and Cheney, we would have had no crisis from which to recover. Rational people DON'T WANT MITT ROMNEY to continue the cronyism and trickle-doom economics of his Arch-Republican peers.

Unknown said...

The day the Democrats took over was not January 22nd 2009, it was January 3rd 2007, the day the Democrats took over the House of Representatives and the Senate, the start of the 110th Congress. The Democratic Party gained a majority in both chambers for the first time since the end of the 103rd Congress in 1995.

For those who are listening to the liberals propagating the fallacy that everything is "Bush's Fault," think about this:
January 3rd, 2007, the day the Democrats took over the Senate and the Congress:
The DOW Jones closed at 12,621.77
The GDP for the previous quarter was 3.5%
The Unemployment rate was 4.6%
George Bush's Economic policies SET A RECORD of 52 STRAIGHT MONTHS of JOB CREATION!
Remember that day...
January 3rd, 2007 was the day that Barney Frank took over the House Financial Services Committee and Chris Dodd took over the Senate Banking Committee.
The economic meltdown that happened 15 months later was in what part of the economy?

BANKING AND FINANCIAL SERVICES!
THANK YOU DEMOCRATS (especially Barney) for taking us from 13,000 DOW, 3.5% GDP and 4.6% Unemployment...to this CRISIS by (among MANY other things) dumping 5-6 TRILLION Dollars of toxic loans on the economy from YOUR Fannie Mae and Freddie Mac FIASCOES!

(BTW: Bush asked Congress 17 times to stop Fannie & Freddie -starting in 2001 because it was financially risky for the US economy).Barney blocked it and called it a "Chicken Little Philosophy" (and the sky did fall!)

And who took the THIRD highest pay-off from Fannie Mae AND Freddie Mac? OBAMA

And who fought against reform of Fannie and Freddie?
OBAMA and the Democrat Congress, especially BARNEY!!!!

So when someone tries to blame Bush...
REMEMBER JANUARY 3rd, 2007....THE DAY THE DEMOCRATS TOOK OVER!"

Bush may have been in the car but the Democrats were in charge of the gas pedal and steering wheel they were driving the economy into the ditch.

Budgets do not come from the White House. They come from Congress and the party that controlled Congress since January 2007 is the Democratic Party.

Furthermore, the Democrats controlled the budget process for 2008 & 2009 as well as 2010 & 2011.

In that first year, they had to contend with George Bush, which caused them to compromise on spending, when Bush somewhat belatedly got tough on spending increases.

For 2009 though, Nancy Pelosi & Harry Reid bypassed George Bush entirely, passing continuing resolutions to keep government running until Barack Obama could take office. At that time, they passed a massive omnibus spending bill to complete the 2009 budget.

And where was Barack Obama during this time? He was a member of that very Congress that passed all of these massive spending bills, and he signed the omnibus bill as President to complete 2009. Let's remember what the deficits looked like during that period:

If the Democrats inherited any deficit, it was the 2007 deficit, the last of the Republican budgets. That deficit was the lowest in five years, and the fourth straight decline in deficit spending. After that, Democrats in Congress took control of spending, and that includes Barack Obama, who voted for the budgets.

If Obama inherited anything, he inherited it from himself.

In a nutshell, what Obama is saying is, "I inherited a deficit that I voted for,
And then I voted to expand that deficit four-fold since January 20th, 2009."

Unknown said...

The day the Democrats took over was not January 22nd 2009, it was January 3rd 2007, the day the Democrats took over the House of Representatives and the Senate, the start of the 110th Congress. The Democratic Party gained a majority in both chambers for the first time since the end of the 103rd Congress in 1995.

For those who are listening to the liberals propagating the fallacy that everything is "Bush's Fault," think about this:
January 3rd, 2007, the day the Democrats took over the Senate and the Congress:
The DOW Jones closed at 12,621.77
The GDP for the previous quarter was 3.5%
The Unemployment rate was 4.6%
George Bush's Economic policies SET A RECORD of 52 STRAIGHT MONTHS of JOB CREATION!
Remember that day...
January 3rd, 2007 was the day that Barney Frank took over the House Financial Services Committee and Chris Dodd took over the Senate Banking Committee.
The economic meltdown that happened 15 months later was in what part of the economy?

BANKING AND FINANCIAL SERVICES!
THANK YOU DEMOCRATS (especially Barney) for taking us from 13,000 DOW, 3.5% GDP and 4.6% Unemployment...to this CRISIS by (among MANY other things) dumping 5-6 TRILLION Dollars of toxic loans on the economy from YOUR Fannie Mae and Freddie Mac FIASCOES!

(BTW: Bush asked Congress 17 times to stop Fannie & Freddie -starting in 2001 because it was financially risky for the US economy).Barney blocked it and called it a "Chicken Little Philosophy" (and the sky did fall!)

And who took the THIRD highest pay-off from Fannie Mae AND Freddie Mac? OBAMA

And who fought against reform of Fannie and Freddie?
OBAMA and the Democrat Congress, especially BARNEY!!!!

So when someone tries to blame Bush...
REMEMBER JANUARY 3rd, 2007....THE DAY THE DEMOCRATS TOOK OVER!"

Bush may have been in the car but the Democrats were in charge of the gas pedal and steering wheel they were driving the economy into the ditch.

Budgets do not come from the White House. They come from Congress and the party that controlled Congress since January 2007 is the Democratic Party.

Furthermore, the Democrats controlled the budget process for 2008 & 2009 as well as 2010 & 2011.

In that first year, they had to contend with George Bush, which caused them to compromise on spending, when Bush somewhat belatedly got tough on spending increases.

For 2009 though, Nancy Pelosi & Harry Reid bypassed George Bush entirely, passing continuing resolutions to keep government running until Barack Obama could take office. At that time, they passed a massive omnibus spending bill to complete the 2009 budget.

And where was Barack Obama during this time? He was a member of that very Congress that passed all of these massive spending bills, and he signed the omnibus bill as President to complete 2009. Let's remember what the deficits looked like during that period:

If the Democrats inherited any deficit, it was the 2007 deficit, the last of the Republican budgets. That deficit was the lowest in five years, and the fourth straight decline in deficit spending. After that, Democrats in Congress took control of spending, and that includes Barack Obama, who voted for the budgets.

If Obama inherited anything, he inherited it from himself.

In a nutshell, what Obama is saying is, "I inherited a deficit that I voted for,
And then I voted to expand that deficit four-fold since January 20th, 2009."

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