cbo report on '13 obama budget
 

http://news.yahoo.com/cbo-obama-budg...150600585.html

CBO: Obama budget produces 2013 deficit of $977B

By ANDREW TAYLOR | Associated Press – 40 mins ago


well, i just can't believe these numbers aren't as good as the white house said. just shocked. :rolleyes:

WASHINGTON (AP) — A new analysis of President Barack Obama's budget for next year says the deficit scenario isn't as rosy as the White House painted it.

Friday's Congressional Budget Office report said Obama's budget would produce a $977 billion deficit next year — $75 billion more than predicted by the White House.

The nonpartisan CBO said Obama's budget office consistently overestimates tax revenues over the coming decade. CBO predicts revenues on average that are about $120 billion less each year than predicted by the White House.

It is only $75 billion, hit print a few times and we are good to go

Have you guys seen Romney, Gingrich and Santorums budgets? They blow the deficit up into trillions with their massive tax cuts for the wealthy.

I'll take an unexpected $75 billion more in deficit - and heading in the right direction to eliminate the deficit more each year - any day, thanks.

If you want to vote for "fiscal responsibility", I suggest one educate themselves on reality.

Obama budget compared to the Republican candidates, affect on our debt. Paul matches Obama, (how about that, Ron Paul acolytes? for an alternative candidate for your most important issue) the other GOP candidates blow up our debt, increasing it massively.



And a little reality on how Obama is lowering our deficit

Even if the above statement is correct that is not the point. The point is the government continues to lie to the people. If it is the left, democrats and obama doing it you say it is great and heading in the right direction though. If it is the GOP (or for example Gov. Walker) you are the first to try and call him out on it or prove that he lied. Try not being a hypocrite for 1 day.

And for one day, you need to look at facts and figures, and not let your hate and name-calling stand in the way and give you preconceived ideas.

You say, "even if the above statement is correct that is not the point". Yes, that IS precisely the point. The point is not your hate of the government, your determination to ignore anything that will negatively color your opnion, and your blanket dismissal of facts in evidence to remove support for your opinion. The point is your opinion should be based in reality. Not your dismissal of fact.

Walker has measurable factual failures, such as Wisconsin losing more jobs than every other state in the past months, and you simply refuse to acknowlege these facts exist. So don't call me names. Because you look pretty loony.

No, the point is that every single year, for every single Congress and the budgets they make, as the CBO updates future budgets and current projections based upon changes to the tax base (our income, which constantly changes due to unemployment levels, etc), the figures change, and always have.

Calling it a "deliberate lie" is absurdly making personal the routine accounting procedures of this country.

And get real: $75 billion difference in projected vs closer real-time projection? That is a very accurate "what does the budget actually end up coming in at" figure! Our budget is trillions. $75 billion is nothing.

The truth is: President Obama is far more fiscally conservative than every other single Presidential candidate now running, and also preserves and grows the social programs we depend upon to be a first world country, while massively improving our nations health care and overall quality of life.

In other words, you will never let your opinion be changed by the facts. That's absurd.

we are in bad shape:

The Congressional Budget Office on Tuesday predicted the deficit will rise to $1.08 trillion in 2012.

The office also projected the jobless rate would rise to 8.9 percent by the end of 2012, and to 9.2 percent in 2013.

These are much dimmer forecasts than in CBO’s last report in August, when the office projected a $973 billion deficit. The report reflects weaker corporate tax revenue and the extension for two months of the payroll tax holiday.

A rising deficit and unemployment rate would hamper President Obama’s reelection effort, which in recent weeks has seemed to be on stronger footing.

If the CBO estimate is correct, it would mean that the United States recorded a deficit of more than $1 trillion for every year of Obama’s first term.

CBO Director Doug Elmendorf told reporters that Congress will have to make important choices this year regarding the supercommittee trigger and tax policy that will have huge effects on the deficit.

While unable to recommend choices, Elmendorf said that addressing the deficit sooner rather than later is easier.

The deficit was $1.4 trillion in 2009, $1.3 trillion in 2010 and $1.3 trillion in 2011. The largest deficit recorded before that was $458 billion in 2008.

CBO had forecast an 8.5 percent unemployment rate for the end of 2012 in its August report. It now expects the jobless rate to be higher and to still be at 7 percent in 2015.

The higher unemployment numbers are due to lower economic growth than previously estimated. Gross domestic product for 2011 is now estimated to have grown 1.6 percent in 2011, down from the 2.3 percent forecast in August. CBO a year ago had predicted 3.1 percent growth for 2011.

The outlook for 2012 has also worsened. GDP is forecast to grow only 2 percent this year, compared to a previous estimate of 2.7 percent.

Budget cuts from the August debt deal and projected tax increases set to kick in when the Bush tax rates expire at the end of the year, will “restrain economic growth this year and significantly restrain growth in 2013,” according to CBO. But it says the fiscal prudence will help growth in the out years.

http://www.outsidethebeltway.com/cbo...gh-employment/

at the end:

With employment already near 9% and likely to stay there for two years or more, another recession would be disastrous, with unforeseeable political consequences. Thanks to our long term debt issues, there isn’t a whole lot that Washington can do in the way of direct stimulus — both massive new spending and a massive new tax cut (without spending cuts) seem out of the question right now. The Federal Reserve has kept interest rates near zero for years now, and apparently plans to continue doing so through 2014. It’s hard to see what else there is left to do other than let things work themselves out. Of course, that’s never the answer politicians want to hear.

We are in far better shape than we were 4 years ago, and we are heading in the right direction.

While the Republicans in the House and Senate have done little to nothing to help.

Every single current Republican presidential candidate threatens to undo that progress, and return us to the same disastrous financial policies that were the Bush presidency.

Oh, yeah: and how much deficit did Obama inherit his first day of office? And how much of that ongoing deficit is due to the ongoing costs of Bush's unpaid financial disasters? Most of it. Bush's legacy of financial disaster for this country doesn't go away the day he did. Obama not only is responsible for his own debt, but cleaning up Bush's mess.

Stop being a hypocrite and people might actually listen to your opinion. I am not calling you names by any means just pointing out what many others on here have already done. If you point the finger at one side you better be willing to point your finger at the other side.

I am not posting an "opinion". I am posting "facts". You know, those things that don't depend upon what your or my opinion is?

Fact: the real-time CBO evaluation of $75 billion in deficit over previous long-term projections is quite good, and these projections change every year, for every president. In other words, changing projections is normal and usual. And $75 billion is a very small amount, based upon income tax adjustments the government has to make (that's our income, which flucuates and is not always as anticipated)

Fact: Wisconsin has the worse job creation rate in the country over the past 6-7 months under Scott Walker, 49th in the country.

That is the funniest thing I heard today. Thanks for the laugh. Have a wonderful weekend. Happy St. Patty's Day!

The ONLY way you can cut the deficit or even attempt to cut the deficit is to eliminate accessibility to the endless credit stream actually river we've been riding.

Pure and simple say NO! to any ceiling increase!


Oh and repeal Obamacare and save $1.76 trillion today

You are simply unable to bring any other facts into this discussion about government budgets and CBO estimates, hum?

Just can't do it. Can only call names and leave. Got it.

Our government works by having a credit line for cash flow, so we can pay our bills when they come due.

How does eliminating our credit line make those bills disappear?

That $1.76 trillion over years is already paid for. The CBO rates Obamacares as a net-zero program. It is paid for within the program. That has been common public knowledge - or should be - since two years ago, when this bill was voted into law.

You know, that's a good thing: when the government ensures a program is funded before they put it into law? Obamacares is funded. And not even the GOP says that's not true.

You know, the opposite of what George Bush second did, putting us trillions into debt with unfunded wars and Medicare health care plans.

Stop lying!

Wis monthly unemployment rate for the last year even w/the cuts to public sector jobs

2011 Jan 3069656(B) 2833068(B) 236588(B) 7.7(B)
2011 Feb 3070780(B) 2836783(B) 233997(B) 7.6(B)
2011 Mar 3070312(B) 2838145(B) 232167(B) 7.6(B)
2011 Apr 3067707(B) 2836190(B) 231517(B) 7.5(B)
2011 May 3063898(B) 2831604(B) 232294(B) 7.6(B)
2011 Jun 3060386(B) 2826899(B) 233487(B) 7.6(B)
2011 Jul 3058088(B) 2824515(B) 233573(B) 7.6(B)
2011 Aug 3057357(B) 2825784(B) 231573(B) 7.6(B)
2011 Sep 3057366(B) 2829775(B) 227591(B) 7.4(B)
2011 Oct 3057248(B) 2834554(B) 222694(B) 7.3(B)
2011 Nov 3056534(B) 2838869(B) 217665(B) 7.1(B)
2011 Dec 3056367(B) 2843199(B) 213168(B) 7.0(B)
2012 Jan 3054720(P) 2844774(P) 209946(P) 6.9(P)

6.9% last month reported. What's KY's rate?

LOL. You stop lying. You're the only one I've ever seen make this argument. Not even the far right-wing blogs make this argument about Wisconsin.

By the way: you posted unemployment rates. Those are not lob loss numbers. Unemployment rate and job loss numbers are two entirely different things.

Use the real Federal Labor Statistic figures, as everyone else in the world does.

Figures are in the above story.

Figures contained in article.

Politifact: Wisconsin leads nation in job loss
http://www.politifact.com/wisconsin/...0000-new-jobs/

Figures contained in article.

I went directly to the source, The United States Department of Labor, Bureau of Labor Statistics, not some article.

BTW KY is 8.8% v. 6.9% WI

You are aware the lower the number the better? I'd be worrying about the State you live in!

http://data.bls.gov/map/MapToolServlet?survey=la

You are posting unemployment numbers. Not job loss numbers. Those are two different things. Wisconsin leads the country is jobs lost over the past 6 months. And the figures proving that are posted in everything I cited.

And here's another review of Wisconsin's record setting, disastrous job loss, from today:

http://www.epi.org/blog/wisconsin-an...ector-workers/

Why let the facts interrupt your crusade. I can't count how many times you stated that wisconsin had XX many months of straight job loss.
MADISON (AP) - Wisconsin labor officials say the state added 12,500 jobs in January.

Data the Department of Workforce Development released Thursday shows the state added 15,700 jobs but lost 3,200 government jobs.

The state's unemployment rate fell slightly, from 7 percent in December to 6.9 percent in January. The agency cautioned the figures were preliminary but said unemployment was at its lowest since December 2008.



If it were up to the unions and the democrats we would have more job losses in order for them to get Scott Walker recalled. Who has the peoples best interest in mind? The ones who are willing to sacrifice their own in order to get Walker out of office? I noticed you had nothing to say about the letter from the Teachers unions to the MTA...

Facts only the Facts

:D Because it's true.

But, hey, you keep talking about "facts".

I'm glad the one month of January, after the six straight months of job loss, was a net gain, while the unemployment rates you quote for January of course have nothing to do with job joss numbers for the previous six straight months of job loss in Wisconsin.

Why you think that your quoting one month of January someone magically makes the months of July through December 2011 - the six straight months of job loss that occurred in Wisconsin - invalid, I don't know. Can you explain how that works? Via the "facts"?

http://www.politiscoop.com/us-politi...job-loss-.html.

"Fiscal responsibility" means spending less than you make. There will not be an option for that this or any other year. If you want to vote for the least of the evils it has to be Paul.

What about Jan '11 thru June '11? Did you post those numbers also that show all of the job gains that more than nulifies all losses? How do the results look from the day Walker took office as compared to the Doyle Administration? Imagine if the democrats worked with governor Walker how many jobs we could have added instead of fighting recalls, political battles,etc

What about it? Wisconsin's massive, country-leading six months of job losses were the last six months of 2011, under Governor Walker. According to the Federal Bureau of Labor Statistics, your statement is completely false.

Wisconsin is still behind in jobs, the jobs lost have not be replaced, although January, as you posted in another thread, had a net gain. But no, that little net gain in January didn't replace all losses.

Absolutely the thousands of jobs lost in 2011 have not already been replaced. Post your numbers if you are going to make crazy claims.

Unlike your mysterious mining press release( that no one can find but supposidely you) the jobs numbers are available for your viewing pleasure. Try looking them up. I will give u a hint not on huffington or any liberal blog.

LOL - I've told you the press conference from the company May 6th. Try your Wisconsin newspapers - which is where I got the info from.

I'm going by the published Federal Bureau of Labor Statistics numbers that show that Wisconsin had the worse job creation in the country, six straight months of job loss. You know, the links I've posted multiple times here? That are sitting in the other thread right now?

Oh, and here's the information from Drudge for you. Hardly a "liberal blog"

Post different if you have them. You don't. Six straight months of job loss under Walker. He's a job-loss disaster.

Oh: and here's Politifact showing how Walker attempting to use in-state job numbers (Wisconsin Workforce Development) rather than Federal Bureau of Labor Stats numbers, in an attempt to fudge the numbers and make himself look good - is faked. Just read down through all the updates, which shows how Walker's claims are not true.

http://www.politifact.com/wisconsin/...0000-new-jobs/

No thanks. I'd rather vote for someone more clever that does not eliminate Medicare, Social Security, Education, OSHA, etc, and gets all that with the same amount of spending as Paul.

Look at jan- june 2011 numbers

:D I have. I posted the actual graph in the other thread, the Economic Policy Institute analysis of the Federal Bureau of Labor numbers. Six straight months of massive job loss in Wisconsin, and no, the jobs numbers still are not back where they were.

In fact, lets actually list those Jan-June 2011 number right here for you now:

See the January 2011- June 2011 red line? Every job created was lost. Net change to zero (the black line)

See the red line from June 2011 through December 2011? Job loss. Six months. Wisconsin. While other states were growing. Yes, my statement has always been true. Walker was responsible for six straight months of job loss in Wisconsin.

See where the line is now? Still below the number of jobs Wisconsin had in June 2011 (the heavy black line)

Here's the graph again. Can you read it this time, maybe?

http://www.epi.org/blog/wisconsin-an...ector-workers/

Clever I will give you, too clever actually..."transparent"
It will be all that clever that takes down the whole system before we know it. Cant dig your way out of a hole no matter how deep you go.

Our deficit will be cut in half in 10 years - with zero change to current policies, including Medicare and Social Security and tax rates - after the Bush tax cuts expire.

That is the thing I'm mad about most regarding the president, he kept those. The unfunded Bush tax cuts were the major driver of our deficit. The wars can be over, those expenditures eliminated, and the unfunded Medicare can be readily corrected, too.

But Bush decimating our income with his unfunded tax cuts, the money we use to pay for what was already in place, without eliminating anything that money was paying for, was devastating to this country.

And you can see how this, other than the Recovery Act, is Obama's biggest expense, too.

That is shown on this chart, which has the size of the blocks relative to their financial worth:

Again from the Labor Dept. itself employed in WI!

Including those public sector blood sucking jobs that were cut

2011 Jan 3069656(B) 2833068(B)
2011 Feb 3070780(B) 2836783(B)
2011 Mar 3070312(B) 2838145(B)
2011 Apr 3067707(B) 2836190(B)
2011 May 3063898(B) 2831604(B)
2011 Jun 3060386(B) 2826899(B)
2011 Jul 3058088(B) 2824515(B)
2011 Aug 3057357(B) 2825784(B)
2011 Sep 3057366(B) 2829775(B)
2011 Oct 3057248(B) 2834554(B)
2011 Nov 3056534(B) 2838869(B)
2011 Dec 3056367(B) 2843199(B)
2012 Jan 3054720(P) 2844774(P)

1rst number is labor force second employed!

Get a clue. KY and your native IL is what should be following WI lead.

On Wisconsin !!!!

Deficit in half is true believer talk, you cannot increase spending and budget for deficits and expect the total to decrease. I know you are a Dr. but that is just basic math.

Math...

I've met this Riot in person. She's a mess, trust me!

God help us. Dell - the numbers you are posting are percentage of unemployed.

THAT'S NOT WHAT WE ARE TALKING ABOUT. The percentage of unemployed out of the workforce is not the same thing as the number of jobs lost. The number of jobs lost does not correlate to that percentage. Apples and oranges.

No, we haven't gotten to "math". We are still trying to get Dell to understand that we are not talking about percentage of unemployed compared to those working, but number of jobs lost.

No. Those are not. the. same. thing. Apples and oranges. Actually, apples and vegetables.

As illustrated on the graph, and in the multiple articles I linked to. Wisconsin: worst job loss in the nation. Six straight months of job loss.

Except in Dell and Wiphan's imaginary fantasy land of denial.

FTFY. Has nothing at all to do with "belief".

Let me be as simple as possible for you

2011 Aug 2825784(B)
2011 Sep 2829775(B)
2011 Oct 2834554(B)
2011 Nov 2838869(B)
2011 Dec 2843199(B)
2012 Jan 2844774(P)

The above numbers represent the actual number of those employed in WI month by month (jobs). These numbers are also supplied directly from the U.S. Bureau of Labor not dailykos, huffipoo etc.

September's number is larger than August. Then October more jobs, November even more, December more and unbelievably January even larger for 5 straight months of job growth. See when the number comes back larger it means jobs gained not lost (again despite the slashing of thousands of needless, redundant, economy sucking public sector jobs and their over inflated benefits that come with them) thus indicating the private sector is alive and well in Wisconsin. So well in fact the President visited MasterLock, in Milwaukee in an attempt to take credit for bringing back jobs from China despite having absolutely nothing to do with it.

Math must have been one of your tougher subjects in school.

Probably why Wisconsin is under 7% unemployment rate while KY is struggling at 9%. (Have some veggies with your fruit)

Sigh. Dell. This is not "math". This is "reading comprehension".

Again: the BLS unemployment rate you post (without reference, btw) are not the same thing as the BLS number of jobs available that I have posted.

They are not interrelated zero sum numbers dependent upon each other.
They are measuring two different things.
That's why the BLS lists both.

Want proof? Tell me, from the six months you've listed above, using your numbers, tell me how many factories closed in Wisconsin and how many job opportunities were lost?

You can't do it. That's because your numbers have nothing to do with it. Your numbers are only the actual number of people working. Your numbers do not reflect job opportunities open, available.

I am sorry you simply can't understand that.

Again: Wisconsin, 6 straight months of job loss 2011, the worse in the nation, and it's the actual BLS report, in the multiple references I have provided (which you've clearly not bothered to click on) that show that.