Obama's Math Problem
By gewcew23
@gewcew23 (8007)
United States
August 13, 2008 2:38pm CST
This year the Federal Government will spend 3.1 trillion dollars just on budgetary issue. Keep in mind war is not a budgetary issue, so even if there was no war the Federal government will still spend 3.1 trillion dollars of your money. The big problem is that only 2.7 trillion dollars of that is actually paid for. So this leaves 400 billion dollar to go to the national deficit. Assuming that Obama first federal budget base will be high than Bush, because it always is Bush's first base was high than Clinton's last base, Obama will increase the national debt just off of his first budget. Then add his campaign spending plans, and you will get close 1.3 trillion dollars of spending that is not paid for, with or with out any of the wars. Obama's plan to solve this short coming is just to roll back Bush's tax cuts. Well on paper this short coming is addressed, $1.35 trillion of tax increases to pay for 1.3 trillion dollars of new spending. Here is one math problem Obama has not addressed, his middle class and senior citizen tax cuts. Being that the middle class and senior were already apart of Bush's tax cuts, Obama's new tax cuts would lower his new revenue below what would be needed to pay for his new spending.
So my question is this how do you increase spending at the tune Obama is wanting to and still cut taxes. Would that not make Obama just like Bush?
3 people like this
8 responses
@redyellowblackdog (10629)
• United States
13 Aug 08
Obama, the candidate, will have many different positions than Obama, the President. This is because circumstances pretty much limit what the President can do. Bush is doing what he is, mostly because he has not much else choice. When Obama is President, if he ever is, he will be faced with the same lack of choice and same logical route to follow. So, yes, Obama will be quite a bit like Bush, except that being perceived as naive will cause our enemies to try foolish provocations that could result in serious war.
3 people like this
@Yestheypayme2dothis (7874)
• United States
13 Aug 08
That means one of two things. Either Democrats will defend Obama no matter what just because they don't want McCain in or like it was said for so many decades about girls, they just can't do the math.
3 people like this
@suspenseful (40192)
• Canada
14 Aug 08
You cannot do that. It is impossible. Less money coming in means less services. You have to get the money somewhere. So Obama will be like Bush, but unfortunately they will not blame him for his spending cuts because according to Democratic philosophy, a Democratic president can do no wrong. You have to get rid of the deficit, but on whose backs? I do not think the middle class or the senior citizens would welcome a tax increase, but that might be what would have to happen or cut services and people need the services.
2 people like this
@clrumfelt (5597)
• Tennessee Ridge, Tennessee
13 Aug 08
Obama cannot give tax cuts AND all the government programs he is promising. He says he will not tax anyone making less than $250,000 a year. I have heard that song before and it has never worked. Do you think Congress is going to bite the hands that feed them by letting Obama hand them all those new taxes? Not on your life! If he did tax the $250K incomes, those people would pass their tax bills on to the American people by raising prices and laying off workers. Obama's math doesn't add up for me, either.
@xfahctor (14113)
• Lancaster, New Hampshire
13 Aug 08
It is one of the biggest critisisms leveled at the Bush administration by McCain. And it is a largly ignored one. It is also a basic economic principal that if you lower taxes you must lower spending. Reducing taxes is still reducing taxes no matter who you reduce it for. More spending is more spending no matter who you spend it on.
2 people like this
@gewcew23 (8007)
• United States
13 Aug 08
Being the McCain in the Senate has proven himself to be a budget hawk shows that he has the guts to deliver to the Americans a balance budget. Being that Sen. McCain has never voted for an earmark over his four terms makes him an unique politician.
2 people like this
@snowy22315 (208823)
• United States
13 Aug 08
I dont think Obama is anything like Bush. All of you people who continually want to dog Obama dont seem to realize that he is the alternative. If you elect John McCain it is going to be more of the same policies that we ahve had for the past eight years that have left us in a war, in a recession with no health insurance for the masses and greatly increased the national debt.Whatever Obama does is not going to be worse than what we have right now. I can assure you.
1 person likes this
@redyellowblackdog (10629)
• United States
13 Aug 08
"Whatever Obama does is not going to be worse than what we have right now. I can assure you."
Under an Obama Presidency I expect to see the terrorists become emboldened because the USA has a weak leader who will 'talk' rather than hunt them down and kill them.
Under an Obama Presidency I expect to see even more ridiculous budget deficits than under Bush.
Under an Obama Presidency I expect a dimminshing of health care quality as this necessity is increasingly nationalized.
Under an Obama Presidency I expect an oil industry catastrophy of even greater increased prices because Obama does not understand business of any kind.
Under an Obama Presidency I expect inflation to accelerate even more because of his lack of will to take the tough measures required to reign in inflation.
Under an Obama Presidency I expect race relations to degrade even faster as some groups come to expect 'favored treatement' as pay back for ill treatment of their anscestors.
Under an Obama Presidency I expect the USA to seriously approach 3rd world status as Obama has no idea what makes the USA a great country or how to foster that greatness.
So, don't bother to assure me of anything. I study this stuff in a serious way and run very advanced analysis on many different economic indexes. I've got a good idea of what is going on and I'll tell you this.
"Anyone who thinks things can not get worse than they currently are under President Bush is very ill informed."
I assure AND PROMISE you that things could get much worse than they are.
2 people like this
@Destiny007 (5805)
• United States
14 Aug 08
No... It would make him much worse then Bush... and most probably in line to be the Worst Person in the World and Worse than Hitler.
Actually, it goes a long way towards demonstrating his ignorance concerning economics and is just one more reason to consider him unfit for ANY office.
Bush was right on the tax cuts, and wrong for not slashing discretionary spending and cutting the size of government.
@kenzie45230 (3560)
• United States
14 Aug 08
What Obama IS planning on doing right off is increasing taxes for those whose income is above $250,000 and taking the caps off of SS that everyone pays. Right now, that cap is at about $150,000 income maybe? The problem with raising taxes only on that part of our country is that they will get busy finding ways avoid paying the higher taxes and when the money Obama anticipated having isn't there, then he'll have to raise taxes on everyone else.
I read an article the other day about this. For those making over $250,000 - with all the federal taxes, every dollar over the $250,000 will be taxed at 56%. Then if you add on state and local taxes, every dollar over $250,000 will actually be taxed at 72%. You can bet two things. Most folks making that kind of money won't be voting for Obama. And if he wins, they'll be finding tax loopholes and ways to hide income.
People in other countries who pay taxes at 50% usually get healthcare.
1 person likes this
