"A government big enough to give you everything you want, is big enough to take away everything you have"
Thomas Jefferson

Thursday, July 10, 2008

Obama Is Just More Tax & Spend Policies

A selection of comments and Obama quotes. for the day!

"I do not make a promise that we can reduce it by 2013 because I think it is important for us to make some critical investments right now in America's families," Obama told reporters this week when asked if he'd match McCain's pledge. 

Obama plans to raise $100 billion annually by increasing taxes on Americans making more than $250,000 a year, money that would be used to pay for health care and tax cuts for low- and middle-income earners. He has said ending the Iraq war would generate about $80 billion a year, but he's not using that to pay down the deficit either. Instead, he said that money could help pay for more government programs like health care, education, housing and public safety.

 "The problem there is that the Democrats have been very critical of President Bush for spending hundreds of billions of dollars on the war without paying for it and running up the deficit," Bixby said. "But in effect what Obama is saying is, `I'm going to spend the same amount of money. I'm just going to spend it on something else.'"
 Obama has only been in this election for over a year now and they election is only 4 months away, yet he has not and will not produce a proforma budget until later.

Obama's economic policy director, Jason Furman, said the campaign will release a formal budget later in the year that explains his spending in greater detail. Furman added that "while we would like to balance the budget, we cannot say exactly when that will happen given the need to make important investments and the large amount of uncertainty in the economy."
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12 comments:

Anonymous said...

I must be nice to be bitter about Obama's plans because you make over $250,000 a year.

Anonymous said...

By simply focusing on negative postings about Obama and not stating anything substantive about McCain, this blog is not appearing independent at all and is becoming unreadable.

PCS said...

In this case I completely agree with Political IV. It is time for Democrats to act more like Republicans. Let's cut taxes and spend - that is the Republican way.

Anonymous said...

Political IV definitely prefers the borrow and spend model of the GOP. I wonder if he runs his flower shop using that mode of economics.

Anonymous said...

iv, if you really fancy yourself an independent and believe in all that fair and balanced stuff, then where's your analysis of the recent mccain budget talk? (for those not yet in the know: mccain budgets in winning the war in iraq! just like that!) where's the discussion of mccain economic advisor phil gramm's recent remarks that we're a "nation of whiners" who are in a "mental recession"? i'd also recommend everyone to check out this little highlight clip of obama's response.

RWiley said...

one of mccain's budget policy refiners
and bush's subsidy to big oil designers
phil gramm, says all it mental
the economy is quite gentle
and the nation, just a bunch of whiners

Anonymous said...

The Dow is down 16% for the year and this numbskull is still touting the McCain financial plan.

Anonymous said...

Could you imagine what your Social Security fund would look like if Bush got his way 5 years ago?

RWiley said...

Watch Jim Cramer go ballistic over McCain's criticism of the Social Security system.

McCain and Social Security

Anonymous said...

"Could you imagine what your Social Security fund would look like if Bush got his way 5 years ago?"

Ahhh the narrow minded investor, the problem and probable reason Americans are in debt versus saving money.

How much do you have invested or are you just waiting for that SS check to arrive monthly when you retire?

How much credit card debt do you have, $5, $10 or maybe $25 thousand. The great American way!

Anonymous said...

IndyMac, the 9th. largest bank in the U.S. just failed and was seized by the government. But don't worry. According to McCain and Gramm it is only mental.

Anonymous said...

The market is 16% down for the year. My Social Security is still coming. I paid 66,221 into the fund during my working career. (matched by my employer) I have been retired for 4 years and the return has been 64,800. I am only a few short months from the break even point. After that, it is all pure gravy. Social Security is a great investment! I also have 401k which I can't use because they have been in jeopardy for 5 YEARS, worth only 45% of my investment and I can only wish they would come back to even in the next 5 years at 10% per year. Anon two above is sucking wind.

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