President Obama Sees First Budget Surplus Of Presidency
(AP/The Huffington Post) The Obama administration saw its first monthly budget surplus in April, with the federal government recording $58 billion, according to figures released by the Congressional Budget Office.
The surplus -- the first of Barack Obama's presidency -- was the result of both increased tax collection and lower government spending.
Prior to April, the federal government's last surplus dates back to September 2008.
Pressuring Congress, President Barack Obama is laying out an election year "to do" list Tuesday that urges lawmakers to take another look at economic proposals to promote job creation and help families refinance their mortgages.
The White House said Obama planned to discuss the list during a stop at college science complex in Albany, N.Y. It's the president's latest attempt to portray congressional Republicans as obstructing his economic agenda at a time when millions of Americans are out of work. Obama has sought to tie Republican Mitt Romney to GOP leaders in Congress, arguing that the likely GOP presidential nominee would simply rubber-stamp their policies.
Obama's wish list includes a number of proposals that he has outlined previously but have failed to gain traction in Congress. They include eliminating tax incentives for companies that ship jobs overseas and promoting new tax credits for small businesses and for companies to develop clean energy.
For veterans, Obama planned to press Congress to pass legislation creating a Veterans Job Corps to help service members returning home from Iraq and Afghanistan find work as police officers and firefighters.
Obama was issuing his list during a stop at the College of Nanoscale Science and Engineering at the State University of New York. The president has made a number of trips to universities, manufacturing plants and technology firms, seeking to promote research and development.
Republicans said they had a lengthy list of their own in the form of bills that have cleared the GOP-led House but remained bogged down by Senate Democrats. They accused Obama of recycling old ideas.
"We've passed nearly 30 jobs bills to increase American competitiveness, expand domestic energy production and rein in the red tape that is burdening small businesses. Democrats are blocking every one of them," said Brendan Buck, a spokesman for House Speaker John Boehner, R-Ohio.
White House spokesman Jay Carney, without detailing the specifics of Obama's trip to Albany, said Monday that Congress was under increasing pressure to approve measures to help the economy.
"Every member of the House is up for election this year and a third of the Senate, and each of those members who are running for re-election has to explain to his or her constituents what they did while they were in Washington these last two years. Did they just say no?" Carney said.
Quoting MizSandy:
Please don't tell the Republicans in the House and the Senate. They'll spend it!
The DEMs also like to spend money. R's were voted out of the House under Bush b/c they spent too much money. The D's were voted out of the House in 2010 b/c they spent too much money.
OH PLEASE.
Everyone sent in their taxes in Apr. It's not going to last. A 6th grader could figure this out.
I think someone is trying to fluff Pres Obama as some kind of "financial wizard"
____________________________________________________
Erika..
Children are a blessing and are never inconvenient.............
Quoting rocketracer:
Quoting MizSandy:
Please don't tell the Republicans in the House and the Senate. They'll spend it!
The DEMs also like to spend money. R's were voted out of the House under Bush b/c they spent too much money. The D' were voted out of the House in 2010 b/c they spent too much money.
The Bush legacy in cold hard numbers
The Breakdown of the Deficit
81.2% Increase in National Debt under Bush:
$_5.871 Trillion in 2OO1
$10.640 Trillion in 2OO8
_______________
$_4.769 Trillion Increase (81.2% Increase in National Debt)
44% Increase in National Debt Under Obama:
$10.569 Trillion Jan 31st 2OO9
$15.223 Trillion Jan 14th 2O12
________________
$_4.659 Trillion Increase (44.1% Increase in National Debt)
Increase Since 2001 = $15.223 - $5.871 = $9.532 Trillion
Bush's PERCENTAGE of increase $4.769 Trillion / $9.532 Trillion = 50%
BUSH BIG BUT:
$3.56 Trillion or 76% (3.56/4.659) of the increase was Bush CARRY OVER:
$910 Billion = Interest on BUSH Debt 2009/2011
$360 Billion = BUSH Iraq War Spending 2009/2011
$319 Billion = BUSH TARP/Bailout Balance from 2008 (as of May 2010)
$419 Billion = Bush Recession Caused Drop in taxes
$190 Billion = Bush Medicare Drug Program 2009/2011
$211 Billion = Bush Medicare Part-D 2009/2011
$771 Billion = Bush Tax Cuts 2009/2011
$4.769 TRILLION from 8 BUSH YEAR
$3.560 TRILLION of Bush Carry Over
$8.329 TRILLION - Due to BUSH
Bush's PERCENTAGE (Corrected) $8.329 Trillion / $9.532 Trillion = 87.4%
87.4% of National Debt Increase caused By Bush's Programs (2001 to 2012)
12.6% of Increase caused by Obama’s Programs.
And Bush grew the federal employee’s numbers by 82%.
As the economy rightens, we finally see a glimmer of sanity in the debt to deficit problem
When we finally eliminate the ongoing Bush deficit and interest, Obama would have more than halved the deficit.
Quoting MizSandy:
Quoting erika9009:
OH PLEASE.
Everyone sent in their taxes in Apr. It not going to last. A 6th grader could figure this out.
I think someone is trying to fluff Pres Obama as some kind of "financial wizard"
The GOP's greatest fear; reality.Where's Mittens, has he taken credit yet??
I guess I don't get this ref to Mitt R. However, the reality I'm looking at shows that if you take fiscal year to date expenditures vs revenue, there's no surplus.
Budgets are not done month to month in gov. So, cherry picking one month and yelling surplus is very thin at best. If you looked at a full qtr, it would carry some weight in the real world.
____________________________________________________
Erika..
Children are a blessing and are never inconvenient.............
Oh and don't get me started on GW........He makes Pres Obama look half appealing from a financial perspective.
The budget surplus is totally different than the national debt - debt and the deficit are two totally different things. This "surplus" is just money borrowed that they didn't spend.
Quoting MizSandy:
Quoting rocketracer:
Quoting MizSandy:
Please don't tell the Republicans in the House and the Senate. They'll spend it!
The DEMs also like to spend money. R's were voted out of the House under Bush b/c they spent too much money. The D' were voted out of the House in 2010 b/c they spent too much money.
The Bush legacy in cold hard numbers
The Breakdown of the Deficit
81.2% Increase in National Debt under Bush:
$_5.871 Trillion in 2OO1
$10.640 Trillion in 2OO8
_______________
$_4.769 Trillion Increase (81.2% Increase in National Debt)
44% Increase in National Debt Under Obama:
$10.569 Trillion Jan 31st 2OO9
$15.223 Trillion Jan 14th 2O12
________________
$_4.659 Trillion Increase (44.1% Increase in National Debt)
Increase Since 2001 = $15.223 - $5.871 = $9.532 Trillion
Bush's PERCENTAGE of increase $4.769 Trillion / $9.532 Trillion = 50%
BUSH BIG BUT:
$3.56 Trillion or 76% (3.56/4.659) of the increase was Bush CARRY OVER:
$910 Billion = Interest on BUSH Debt 2009/2011
$360 Billion = BUSH Iraq War Spending 2009/2011
$319 Billion = BUSH TARP/Bailout Balance from 2008 (as of May 2010)
$419 Billion = Bush Recession Caused Drop in taxes
$190 Billion = Bush Medicare Drug Program 2009/2011
$211 Billion = Bush Medicare Part-D 2009/2011
$771 Billion = Bush Tax Cuts 2009/2011
$4.769 TRILLION from 8 BUSH YEAR
$3.560 TRILLION of Bush Carry Over
$8.329 TRILLION - Due to BUSH
Bush's PERCENTAGE (Corrected) $8.329 Trillion / $9.532 Trillion = 87.4%
87.4% of National Debt Increase caused By Bush's Programs (2001 to 2012)
12.6% of Increase caused by Obama’s Programs.
And Bush grew the federal employee’s numbers by 82%.
As the economy rightens, we finally see a glimmer of sanity in the debt to deficit problem
When we finally eliminate the ongoing Bush deficit and interest, Obama would have more than halved the deficit.
um WOW is all I can say to your post and thoughts.
WOW!!!!!!!!!!!
Lois Lerner, IRS Official, On Leave Of Absence: Reports
- MizSandy
on May. 8, 2012 at 1:51 PM