White House Longs for 'Golden Era' of Balanced Budgets

reply to titstolaughat: And Bush borrowed more money from foreign govt's than all previous presidents combined. And the dems legislation is working. President Obama has worked with our manufacturing sector since day one and they have seen gains for over 19 months, as well as export gains. They can write off 100% of improvements in this country. This administration has negotiated better trade deals and enforced existing trade laws - something Bush didn't do as well as refusing to meet with our manufacturing sector. American workers were sold out by Bush and corporations for record profits overseas. We finally have someone who is working for families here.

When Clinton was in office is when the upper 2% were taxed at a higher rate and middle class received tax cuts that generated demand that led to jobs. The gop plan of reducing and eliminating taxes on corporations and businesses and hoping they create jobs doesn't work. Especially when the gop passed legislation in 2004 that allowed overseas profits to be taxed at 5.25%. Their theory of only little people pay taxes doesn't work - they have choked us to death. There is no disposable income to create demand. On the other hand the dems have worked with our manufacturing sector to create jobs here and it is working - over 19 months of manufacturing gains and double digit export gains. They also passed legislation for 100% write offs for improvements made in this country. They have negotiated better trade deals and are enforcing existing trade laws. This is what works for american workers. The gop plan only works for corporate record profits overseas.

Good morning all. Today I wish to expound and propound on one of several ideas I have about the budgeting process in general. Since, I have very little experience, and I am concerned about my relative youth compared to other baby-boomers, and I recognize that blunt statements are not very acceptable; I wish to elaborate on a few truths, without too much fan fare (this alievates, I hope any blunt and damaging statements).

The truths I wish to state are as follows:

That the telephone system and all the cables and wires were a project of the United States of America's government. At the state level and at the Federal Level. This is what I was taught from text books and from reading the historical accounts. It has come to my knowledge that no one wants to continue to believe this. This is a big problem, because it is real property. It can not be divorced from the parties that helped design and create it, and can not be privately held. The states own the land. The Government of America determines what materials can be used and allowed its own genius to commence the processes.

Soon, after its creation, given the propensity to produce steady stable revenue streams, others, perhaps a little too forceably wanted a share of the income. But what did they have to offer? Very little. But somehow, they managed to take public domain knowledge about science and inventions and always beat the states and the Feds out of revenue. So what we have is a massive effort to defraud each and every state, the fed, and the labor of IDfor the sake of those who had more selfish interests. I will not use any names or blurt out any answer, but the incidents seem to all focus around omissions and lack of clarity on just what the equipment would be used for. I remember plenty of people who complained to me that phones usage would require a feet, then government said eventually you would have to pay. So there were many statements and comments.

Nobody realized what a valuable service these things would become, as originally intended by government. So we had things like insiders and fraudsters commandering things and what not, insider trading and a general form of exploitation by private persons. Heretofore, unknown, who somehow managed to evict us from public property or lawfully stated public utilities. So, the real issue, to balancing these up and coming budgets is why does not the Fed in conjuction with the States not own the business of all the utility of the telegraph lines, cable tv, and the in internet. The dot.com bubble was just a trap for unwary investors. Nothing happened on the internet until the Fed, the states, and business came to an agreement that it would be a useable tool.

The first raid, 1970's. The alarms were on, the horns were blaring. The government released a statement that people would have to pay for TV one day. This is important revenue stream, it needs to be added in, and I am not talking land use tax.

and honestly....you democrats are pushing america to be more like the European governments....and haven't they all been socialist monarchy and communist run governments?????? isn't that where our founding fathers fled from???????...hasn't their way of government failed...hasn't there health care left the elderly to go with out treatment or wait 6 month for out patient surgery.....stupid stupid stupid.....so i guess the only way to look at this is ...if you are democrat means you hate the american dream and way of life..and long for socialism... where others give you half of what they make so you have the same as them...with out the knowledge and skills they learned.......

It is absolutely necessary to return to pre-recession tax rates in order to balance the budget.

In order to believe this WH longs for balanced budgets they would actually have to stop borrowing and spending. This WH seems to have no answers to anything other than borrow and spend.

People really don't understand our monetary system. We have the reserve currency of the world, the dollar. This is the currency that purchases energy / oil on the world market, virtually making our gold standard, an oil standard. But since the Federal Reserve, a private organization, controls the dollar currency, we can do anything we need with the money. So how does throwing money into our economy fix our problem. It provides circulating currency to those who need the money to grow businesses, create jobs, and resume the tax base to bring down the deficit. That's all we can do at this point and it's the same thing that Reagan did in the early 1980's. Reagan did reduce interest rates at that time but interests rates now really can't go any lower. We can cut taxes which places more money into circulation but this continues the problem of income divide providing more money to the wealthy and less to the workers as has been done since the early 1980's. This also increases the deficit and debt. Having the world currency and the largest economy, we're still able to do this. The result can be a decreased bond rating, and certainly results in inflation, but the alternative is depression and deflation, something that will place more out of work, and lead to greater deficits. Sadly, we're taking the lesser of two evils. The sad thing also is that no matter who is president, a Democrat or Republican, they'd do the same thing to save the economy and to save themselves from having their name mentioned in the same sentence with Herbert Hoover and the Great Depression. Bush did it, and so is Obama. The Republicans ignored the deficit when Bush increased the deficit needlessly. Now there is outrage that the answer to avoiding depression is more debt. Though I don't like the fix to the system that is needed it's better than allowing the system to fail which is the alternative. Bernanke understands this since his QE 2, Quantitative Easing 2, allows him to side step all of our government and send money into the economy, increasing our debt. Sadly, if congress understands this, then they're just using this for political gain. If they don't understand the above, then they should be voted out of office.

pttypinkley wanted to check the percentages so according to the OMB (Office of Management and Budget)
Defense 22%
Social Security 21%
Medicaid et al 21%
Safety Net Progs 9%
Debt Interest 9%
Everything Else 18%
Figures never lie but liars always figure. Defense is largest if you break out all of the social programs into smaller segments. They are 51% of the budget taken as a single number.

We have to admit that the adage about the government reflecting the character of its people may very well be true. Most folks in the USA have no self-discipline whatsoever. Most are flat broke, upside down on their mortgages and more than maxed out on their credit cards. Ditto the federal government. Sounds pandemic, doesn't it?

Want to balence the budget? Drop 6 boomer submarines and 4 aircraft carriers and the Bush tax cuts for those earning more than $250k.

Hard choices -- but look at how many aircraft carriers China, the EU and the UK have.

Come on Repubs -- take some strong medicine and touch the holy Defense Department budget and get us back to 1985 Reagan era income tax rates.