#1 "This Actually Belongs in Humor," Obama Urges Control of 'Exploding' Deficits!
02-21-2009, 04:51 PM
- Join Date
- Aug 2005
Obama urges control of 'exploding' deficits
"The Three Trillion Dollar President Speaks of Fiscal Control ?"
program aimed at forestalling a meltdown of the US economy, US President Barack Obama vowed on Saturday to tackle a trillion-dollar deficit facing the nation.In his weekly radio address, Obama said that he and his administration were determined to do "all we can to get exploding deficits under control as our economy begins to recover."
Obama also assured Americans that tax relief was on the way and should take effect beginning Saturday, when employers began to institute tax breaks that Obama said would boost the paychecks of 95 percent of American families."Never before in our history has a tax cut taken effect faster or gone to so many hardworking Americans," Obama said after the White House described the move as the "quickest and broadest" tax cut in history.
By April, the average American family will begin to keep an additional 65 dollars each month, he said....."Wowee $65 Whole Dollars,Time for some Chicken And Waffles !"....
While he hailed his recovery plan, saying that because of it, "three and a half million Americans will now go to work doing the work that America needs done," he also acknowledged that the stimulus plan he signed into law this week was only a first step on the road to economic recovery.Obama said he was now determined to put spending under control, saying that work on the deficit will begin on Monday, when he is to convene a fiscal summit of independent experts, unions, advocacy groups and members of Congress to discuss how the deficit could be cut.
According to the Congressional Budget Office, the provisional US budget deficit in fiscal 2009 will balloon to a record 1.2 trillion dollars. That figure does not include the mammoth 787-billion-dollar stimulus package Obama signed into law on Tuesday.The deficit for fiscal 2008, which ended in September, reached 438 billion dollars, or 3.1 percent of the nation's gross domestic product, the office said in a report last month.
He promised to further tackle the issue in this Tuesday's address to a joint session of Congress, in which he planned to outline urgent national priorities to the nation.On Thursday, the White House is to release a budget blueprint, which Obama said is "sober in its assessments, honest in its accounting and lays out in detail my strategy for investing in what we need, cutting what we don't and restoring fiscal discipline."
Last edited by megimoo; 02-21-2009 at 05:12 PM.
02-21-2009, 06:06 PM
- Join Date
- May 2008
Man, with Geithner and Obama telling us how he is going to control the deficit next week and at the same time spending trillionsl, this magic show will rival the second coming of Christ. Obama's fairy dust is beginning to dissapate as more and more Americans see him for what he is. A spend and tax liberal. The Senate Repubs better stick together; otherwise, a depression is likely. The stock market will probably sink after all the baloney is espoused by these two turkeys.
I would love to see Rick Santelli's give a response to Geithener's speech next week. The mere mention of Rick becoming a senator replacing Burris set him off big time; he stated he would not work in DC cause " he would have to take a shower every hour." Priceless.
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