Tuesday, March 17, 2009

Once again, where's THE CHANGE?


President Bush expanded the federal budget by a historic $700 billion through 2008. President Obama would add another $1 trillion.

President Bush began a string of expensive financial bailouts. President Obama is accelerating that course.

President Bush created a Medicare drug entitlement that will cost an estimated $800 billion in its first decade. President Obama has proposed a $634 billion down payment on a new govern ment health care fund.

President Bush increased federal education spending 58 percent faster than inflation. President Obama would double it.

President Bush became the first President to spend 3 percent of GDP on federal antipoverty programs. President Obama has already in creased this spending by 20 percent.

President Bush tilted the income tax burden more toward upper-income taxpayers. President Obama would continue that trend.

President Bush presided over a $2.5 trillion increase in the public debt through 2008. Setting aside 2009 (for which Presidents Bush and Obama share responsibility for an additional $2.6 trillion in public debt), President Obama’s budget would add $4.9 trillion in public debt from the beginning of 2010 through 2016.


The only sharp break President Obama takes away from President Bush is the amount of money he takes from the American people. President Bush reduced taxes by approximately $2 trillion; President Obama has proposed raising taxes by $1.4 trillion. Yet even after taking $1.4 trillion more out of the private sector, Obama’s budget still would double the public debt level to $15.4 trillion. Between 2008 and 2013, the budget will add $5.7 trillion ($48,000 per U.S. household) in new government debt. The annual interest on this debt would nearly equal the entire U.S. defense budget by 2019.

I'm beginning to think Bush won an unprecedented third term.

10 comments:

vwatt said...

"I'm beginning to think Bush won an unprecedented third term." - So you are a very happy camper today since Bush is one of our greatest all time Presidents!! Or, are you saying you are very disappointed, because like the majority of Americans, you wanted a big change from the past eight years??

Brodad Unkabuddy said...

What I'm saying is Obama's campaign was a lie. He's come to realize he can't do any better than Bush and is continuing the Bush policies that the left thought were so "incompetent" (ie, the deficit). I still defy any man to have done better than Bush as President, especially faced with the challenges he faced during his two terms. Obviously Obama is not up to it.

Juan Vasquez said...

this is a whopper "President Bush tilted the income tax burden more toward upper-income taxpayers." hahahahhahahahahahahahahahaa!!!!

Mike West said...

Hey Juan. Glad ya got a sense of humor. hahahahahahahahahahahah
:)

Brodad Unkabuddy said...

Juan, thanks for the comment.
Check out the following link:

http://www.heritage.org/Research/features/budgetchartbook/fed-rev-spend-2008-boc-T4-The-Top-10-Percent-of-Income.html

That's what I'm talking about.

Juan Vasquez said...

Two things the tax burden is all types of taxes not just income tax. So the heritage foundation is playing you. Also they're showing what percentage of tax revenue that was brought in not proportion of income which in the final analysis is the bottom line. If you add in that the numbers shift significantly.

Even if we're just talking about income taxes read this:

http://www.washingtonpost.com/wp-dyn/articles/A61178-2004Aug12.html

Juan Vasquez said...

more reading

http://www.perfectlylegalthebook.com/

Juan Vasquez said...

But let me tell you how they ARE the same. Larry Summers was Treasury Secretary pushing for the rules to be changed those new rules that he and Robert Rubin helped create under Clinton got us into this mess. Combine that with a look the other way Bush SEC there you go. Its Timmeh and Larry shoveling our tax dollars through AIG back into their real home at Goldman Sachs.

Brodad Unkabuddy said...

Hey Juan, good stuff. I love the references. The numbers can go either way whether you're referring to the Washington Post or the Heritage Foundation. The point is the top wage earners in this country are paying the vast majority of the taxes and the highest percentages. Not fair. Everyone should pay a fixed percentage as far as I'm concerned. (Yes that may mean SOME big buck earners may have to pay more because they can't work the system. So be it.) Like AIG, the IRS is too big to just make go away - but that's what we should do. I am in complete agreement with your last comment.

Mike West said...

Figuring out who pays the most in taxes is one thing but don't forget that the money being taken from the tax payers and given to the corporations ends up back into the pockets of the politicians who are approving the bail out money. Who is watching the watching the righteous politicians like Barney Frank in the hen house? No one.