Taxes & Spending

The ‘stay in your parents’ basement’ Obama budget

“But all of you are here because you believe in yourselves, you believe in your ability, you believe in the future of this country. [And that’s why I’m going to propose a budget that will increase our nation’s debt by such an unseemly amount, it will suffocate you and your children and your children’s children. Pretty much your entire legacy will be wiped out in red ink.]”

The first sentence was President Obama speaking to students at Northern Virginia Community College yesterday as he released his 2013 budget. The follow-up sentence is what he should have added because that is exactly the consequence his policies would have, if enacted, on every college student in the audience.

Let’s break out the calculator.

Obama’s budget projects a $1.33 trillion deficit in 2012. If that number sounds familiar, it should. The deficit in 2011 was a similar $1.30 trillion, which comes in slightly higher than the $1.29 trillion deficit in 2010. But I guess we should all be thankful because each of those three numbers are well below the record-breaking $1.4 trillion deficit in 2009.

In other words, Obama has given this country not only the first-ever trillion dollar deficit; he’s given us four straight years of them.

Not surprising, however.

While this administration blames “tax cuts for the rich” on our uneven balance sheet, the truth is that, under Obama, federal spending has spiked 27 percent.

“Obama’s new budget is nothing more than a campaign gimmick aimed at trying to keep support among young people, a demographic his policies have failed,” Alyssa Farah, the Communications Director for the College Republican National Committee told HUMAN EVENTS. “Due to the policies of the Obama administration, the graduating class of 2011 became the most indebted group of graduates ever with average debt at $22,900 per student. Unemployment among young people is more than twice the national average, yet the Campaigner-in-Chief, President Obama, seems more concerned with his re-election than actually addressing the problems crippling our generation.”

True.

What the president forgot to mention to the college audience was that, not only has the deficit increased a whopping $5 trillion since he’s been in office, but that if Obama were to have his way, he’d increase that same debt by another $10 trillion over the next 10 years, with the total accumulated debt topping $25 trillion.

$25 trillion—with a T.

To put that number in perspective, the Los Angeles Lakers superstar Kobe Bryant, who makes $25 million a year, would have to play nearly 100,000 seasons just to pay the debt that Obama will gladly saddle us with.

$25 trillion.

That’s twice our economic output as a nation.

And yet he tells the Obama Zombies at the college that the “defining issue of our time is how to keep this promise alive today — for everybody.”

But none of this should worry us, apparently, because according to Obama, “if Congress adopts this budget, then along with the cuts that we’ve already made, we’ll be able to reduce our deficit by $4 trillion by the year 2022 — $4 trillion.”

Yes, Obama wants to trade $4 trillion in tax hikes and cuts for $10 trillion in new debt.

“The Obama administration’s budget is the most anti-youth piece of proposed legislation in generations,” said Patrick Coyle, vice president of Young America’s Foundation. “The government is enslaving young people to pay off national debt and student loans, but they’re also chaining young people to their parents’ basements. By raising taxes on job creators, this budget leaves young people with a mountain of debt—and destroys their means to pay it back.”

Sign Up
  • Accuweatherman

    Well, as the article indicates he has helped you continue to live in your parents’ basement from which you continue your now weird war on the “Bush Administration”. Call it the “Mommy” state, kid, I don’t care, but grow up someday. You’ll be thirty someday, in your parents’ basement and still without friends and a job and still complaining about Bush if Obama is re-elected. It’s now Obama, stupid.

  • http://pulse.yahoo.com/_PUN2RBPK4SHDPVAII6UEFMOUIM PerrynBecky

    Wil, your proctologist called, it seems they found your head…

    Bush has been out of office for over 3 years now, your wonderboy has did more to destroy this nation than his muslim brothers have ever dreamed of doing. Stop drinking the koolaid and wake the hell up before you find yourself praying your mom lives to 100 so you will be able to stay in her basement when you’re 70!

  • http://pulse.yahoo.com/_PUN2RBPK4SHDPVAII6UEFMOUIM PerrynBecky

    AMEN to that Solidspine, them and the rest of the traitors to the Constitution!

  • http://pulse.yahoo.com/_PUN2RBPK4SHDPVAII6UEFMOUIM PerrynBecky

    Well Georgie, we will see in November. Jimmy Karter was the projected winner by the media up until election night, and he was beaten by a LAND SLIDE. Odumbass has plenty of time to continue pissing off the American public who are undecided, and I predict that this POS kenyan is going to become more brazen in his power grabbing as November approaches, where I won’t be suprized if he doesnt’ start some crisis to attempt to suspend the elections because he knows he’s toast if he had to stand on his own merits.

  • http://pulse.yahoo.com/_PUN2RBPK4SHDPVAII6UEFMOUIM PerrynBecky

    Get him, girl! Just don’t be too hard on little willie and georgie, the’re likely to run to their mommies and tell on you. 

  • http://profiles.google.com/douglynn23 Doug Lynn

    I think your math is wrong. It would take 1 million years of 25 million dollar salaries to reach 25 trillion. Also, I think raw GDP is a bad number to use because money borrowed by the government and then spent adds to GDP. We should not include additions to the national debt in the GDP. Our deficit spending is Gross but it is certainly not something that should be added to our Domestic Product.