Pay As You Go, $2.5 Trillion Worth of Exemptions

Typical and SOP of Obama and Crew

Hey folks,

This was completely hysterical. Did you catch this? President Obama said this.

"The 'pay-as-you-go' rule is very simple," Obama said. "Congress can only spend a dollar if it saves a dollar elsewhere."

Because you folks are starting, in small numbers, but starting, to wake up to what the Obama and Crew are doing. Spending this country into Bankruptcy and placing unheard of dept onto our Children and our Children's Children. Obama had to say something. So Obama came out and gave us a plan that would prohibit Congress from growing the deficit in one year by putting off until later years the tax increases or spending cuts to pay for it.

"Pay as you go" requires Congress to pass a law requiring lawmakers to pay for new spending programs and tax cuts without further adding to Obama's RECORD deficits. Which the AP and others, even Obama Economists, declare is over TEN TRILLION Dollars.

But there is only one major problem with that. There are also $2.5 TRILLION dollars worth of exemptions. {Laughing} Obama just made a statement last week that "We can not keep spending the way we are" yet, HE KEEPS SPENDING.

Still, and once again I point out, NOTHING is solved. NOTHING. People are losing their homes at record levels. People are losing their Jobs at RECORD levels. Private Industries are going out of business. Insurance is SKYROCKETING. NOTHING is working. Yet, he is STILL spending at a RECORD rate. He is a FAILURE. His plans are a FAILURE.

Now according to AP- Obama: It's OK to borrow to pay for health care

Congress lived under a so-called "pay-go" regime in the 1990s and the early years of this decade. But it didn't stop lawmakers from passing President George W. Bush's landmark 2001 and 2003 tax cuts and big increases in farm subsidies without making the required spending cuts elsewhere. A $127 billion surplus in 2001 subsequently turned into deficits over the next four years of $159 billion, $377 billion, $413 billion and $319 billion.

The rules still exist and lawmakers routinely find ways around them. For example, a bill to effectively double GI Bill education benefits was enacted last year. Congress also regularly waives the rules to pass an annual "patch" to the alternative minimum tax, sparing some 20 million families from a $2,000 tax increase on average.

Look at those numbers again. We started paying off the deficits until Obama came in and starting SPENDING out of control. Not to mention a little thing called a WAR. No folks, I know Obama is a fan of "pass the buck," but anyone with an IQ over ten, and even a elementary understanding of Economics, can clearly see that this is ALL OBAMA.

"It is no coincidence that this rule was in place when we moved from record deficits to record surpluses in the 1990s — and that when this rule was abandoned, we returned to record deficits that doubled the national debt," Obama said.

Until you came along and shot it to RECORD LEVELS with your FAILED spending. {Sigh} How bad do THEY say it's going to get?

The federal deficit is on pace to explode past $1.8 trillion this year, more than four times last year's all-time high. The record borrowing is credited with pushing up interest rates, which could imperil chances for a recovery later in the year.

In Obama's own words, "You ain't seen nothing yet."
Peter

Sources:
AP- Obama: It's OK to borrow to pay for health care