Obama Budget Underestimates Deficits by $2 Trillion
FoxNews.com
By Trish Turner
Published March 18, 2011
President Obama signs the two-week funding bill averting a government shutdown in the Oval Office at the White House in Washington, Wednesday, March 2, 2011. (AP)
A new, nonpartisan analysis of President Obama’s proposed 10-year budget revealed Friday that the administration underestimated future deficits by more than $2 trillion.
In a preliminary report, the Congressional Budget Office (CBO) calculated, “In all, deficits would total $9.5 trillion between 2012 and 2021 under the president’s budget.” The Obama budget projected $7.2 trillion deficits over the same period.
Even more alarming, the CBO estimates that the “federal debt held by the public would double under the president’s budget, growing from $10.4 trillion (69 percent of GDP) at the end of 2011 to $20.8 trillion (87 percent of GDP) at the end of 2021.”
Beck Accuses NYT of Hypocrisy in Slams at Him
Newsmax.com
Monday, 14 Mar 2011 05:06 PM
By Hiram Reisner
“The New York Times and others saw no irony in their ‘Mr. Gloomy Pants’ critique while at the same time they would run these stories and provide no real insight or answers to these major catastrophes,” Beck said on his radio program.
The Truth About Obama and Nuclear Power
BigGovernment.com
We have established that Obama’s war on coal assumed a massive, crash program of 100 new nuclear reactors — for optics purposes, keeping the cost of killing coal down, on paper — without which power the lights will necessarily go out. You cannot rule out half of our electricity supply and pretend otherwise.
Now that that binge is an even more obvious fiction, his defenders charge forth to say he does too support nuclear.
And they point to this recent statement. “Nuclear energy is an important part of our own energy future.”
Which does not say he will promote any new reactors, of course. Just that he knows he can’t shut down the existing fleet, additions to which have been stalled since 1978. Meanwhile he plans to add no coal, and shut down the existing coal fleet. Electricity, after all, comes from those holes in the wall.
Obama also said to Iowa voters in October 2008 that he was “not a proponent” of nukes, and it is unlikely that anything has changed his core position.
And in response to which rhetoric I also note that on Friday he said this: “First, we need to continue to boost domestic production of oil and gas.”
Ah. Yes. Of course we must. Please point to his record of trying to boost production again? (more…)
54 House Republicans Defect on Spending Bill
Newsmax.com | Bloomberg.com
Wednesday, 16 Mar 2011 09:38 AM
In Tuesday’s House vote, 54 Republicans opposed a measure to fund the government until April 8, forcing their leaders to rely on support from Democrats to pass the bill, 271-158. The legislation aims to give lawmakers more time to break their stalemate over funding the government through Sept. 30. The stopgap measure goes to the Senate, where Democrats who control that chamber expect it to pass and be sent to President Barack Obama.
Joining 186 House Republicans in backing the bill were 85 Democrats. Republicans opposing it included tea party-backed freshmen, other fiscal conservatives who wanted more spending cuts and social conservatives seeking to include policy directives in the measure on issues like abortion.
The vote underscored the challenge for House Speaker John Boehner, an Ohio Republican, as he works to reach agreement with Democrats on the longer-term 2011 budget.
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| House Speaker John Boehner |
“We have no idea what Mr. Boehner can agree to” in the talks, said Rep. Steny Hoyer of Maryland, the second- ranking House Democrat. “You can’t come to an agreement on any kind of compromise with 54 people who can’t compromise with their own leadership.”
Other Democrats said the vote shows that Boehner will have to compromise with their party to enact a spending plan that avoids a government shutdown.
“Speaker Boehner wouldn’t have been able to pass this short-term measure without Democratic votes, and he won’t be able to pass a long-term one without Democratic votes either,” Sen. Chuck Schumer, D-N.Y., said. “It’s time for him to abandon the Tea Party and forge a bipartisan compromise.”
The House passed a measureon Feb. 18 for funding the rest of this fiscal year that would cut $61 billion from 2010 spending levels. The bill also would make policy changes, including a defunding of the Obama administration’s healthcare overhaul, Planned Parenthood, and public broadcasting. The Senate defeated it last week.
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