Obama's 2012 budget as much fiction as 2011's
Congressmen get their first look at President Obama's fiscal 2012 budget on Monday.
February 14th, 2011
10:28 AM ET

Obama's 2012 budget as much fiction as 2011's

President Barack Obama on Monday introduced his fiscal 2012 budget, a $3.7 trillion amalgamation of guesses and calculations which stands no chance of being enacted in the form the president’s bean counters put it together.

Before it gets back to Obama’s desk for a signature, the spending blueprint will go through no less than 40 congressional committees, 24 subcommittees, countless hearings and a number of floor votes in the House and Senate, CNNMoney’s Jeanne Sahadi writes.

Republicans wasted no time in letting the president know what they liked nothing. Here’s what House Speaker John Boehner said Sunday on NBC’s “Meet the Press”:

"He's going to present a budget tomorrow that's going to continue to destroy jobs by spending too much, borrowing too much, taxing too much."

Considering that all government spending originates in the House, where Boehner’s Republicans hold a 241-to-193 advantage, you can see how big a fight is ahead.

And recent history shows that all this may not mean anything. The federal government still hasn’t passed a budget for fiscal 2011, which began October 1.

The country has been paying its bills with continuing resolutions, the latest of which expires on March 4.

Post by:
Filed under: Barack Obama • Economy • Politics
soundoff (517 Responses)
  1. Cribbooky

    To fix social security, just remove or raise the ceiling for payment. That will happen as quickly tort reform, term limits, and some Greek mythology scenarios.

    February 14, 2011 at 1:52 pm | Report abuse |
  2. R U Kidding

    I'd like to point out two things that I haven't really heard here;
    First – this is a PROPOSED budget. Congress actually sets the budget. Often in the past, Congress hasn't differed from the proposed budget too much, but they are under no obligation to follow any of it.
    Second – Our politicians have waited so long that the cust they we really need to make to our spending to make any real impact will have to painfully come from SS, Medicate and the DOD. We will be hard pressed to find a politician from either side is going to champion cutting any of those. Pres Obama knows that serious cuts will never make it past this congress, and that proposing such cuts himself will only make him look bad when congress kills them.

    February 14, 2011 at 1:52 pm | Report abuse |
    • Rock

      ...and in order to make a statement about how serious he is and how he could actually TRY to make things better maybe he should do it anyway. He likes being seen as a different type of president by hanging out with rock bands so this would be something else to put him into the record books if he succeeds.
      But he will fail and the middle class will continue to pay out the a$$ to support other countries and sacrifice our SS.

      February 14, 2011 at 3:13 pm | Report abuse |
  3. JackInNH

    It wasn't that long ago that we actually had a surplus of money, or so we heard. Two wars later, and the march toward 'globalization' (meaning more profit for rich), and now we are driving down the wrong road, dems/reps hating each other. If we don't start acting like we are all in the same boat, we won't last long.

    February 14, 2011 at 1:53 pm | Report abuse |
  4. Bill

    Cut taxes to Zero and increase defense spending. THat how you create jobs. Defense spending doesn't cost money. THe Chinese give it to us for free. Libs don't understand Econ 101.

    February 14, 2011 at 1:53 pm | Report abuse |
  5. Cribbooky

    TripleA – the top 1% own the people that would make such decisions, but your idealism is appreciated.

    February 14, 2011 at 1:54 pm | Report abuse |
  6. angelo

    Taxing, domestic spending freeze, cutting domestic programs, all to look as if being tough on those who do not have a say in this country. Why not just cut all foreign handouts. They do not pay taxes to this country, so why should we give them our taxes dollars to help their military, their education, their health care, their economy. It is a shame that our political and business leaders really do not understand who they should represent and the true meaning of being a patriot. America first.

    February 14, 2011 at 1:57 pm | Report abuse |
  7. Bill

    Boehner is right. We should close the gov't and re-instate slavery. It doesn't make sense for wealthy Americans to have to burden this debt. All this debt was created in the last 2 years. THe gov't never had a debt until last year when Obama was putting us in concentration camps.

    February 14, 2011 at 2:02 pm | Report abuse |
  8. Tim Renfro

    Looks like banks are going to win again. Interest on student loans before students are out? How does this suppose to foster the inventing our way out of a down economy? One thing is clear about our government. They are there for big business and not the people. The question is how long before the suffering of the common people becomes worthy of our own revolt? Are the Egyptians the only ones with enough spine to do this? No Lobbyist! Term Limits for Congress! No Pay for Congress! No Pay for President! The people don't get a raise and are out of work, so why should the government have it so easy?

    February 14, 2011 at 2:04 pm | Report abuse |
    • Joe

      Where I live (New Zealand), the government makes Student Loans FREE from interest charges entirely. The people who take out student loans, only have to pay them back via their payroll taxes when they get jobs after University. AKA, when you get your salary each month, the student loan payment comes out of your PAYCHECK so you have to pay it, BUT when you are unemployed by no fault of your own, then no payments are due.

      No student loan INTEREST ever accrues because the NZ Govt does not try to RIP OFF it's students by charging it in the first place. The USA Student Loan system is a colossal mess!

      February 14, 2011 at 4:29 pm | Report abuse |
  9. Katz

    I don't get it. Obama wants to cut medicare but he doesn't want to stop paying for the illegals? Really? We pay their housing, food, schooling, healthcare etc. It's costs this country billions every year, but he wants to continue paying for them. What about the families on welfare, generation after generation. How much longer are we going to continue to pay for them when they are cashing in their food stamps for cash to buy drugs. Let us choose where we want out tax money to go. Oh yeah, if he cuts the welfare and illegals who would vote for the Dems?

    February 14, 2011 at 2:06 pm | Report abuse |
    • Joe

      How about we stop paying for illegals care and house, then offer to pay for a one-way flight back to Mexico?

      February 14, 2011 at 4:06 pm | Report abuse |
  10. ak

    I am for raising the taxes on the wealthy. Why? Because the wealthy have a lot more to lose than the common man if the economy tanks, if the government cannot do its job and if the system does not protect their wealth. It is because of rules and regulations that the wealthy feel secure and so they have an obligation to pay more.

    February 14, 2011 at 2:06 pm | Report abuse |
  11. idiot

    rich need to pay more, poor need to spend less, republicans need to have a heart for the lesser people among us. democrats need to have balls to fight for cuts to the big 3. were not fighting anybody with fighter jets. our defense is geared towards fighting Soviet era military when we are fighting 13th century primitive guerilla tactics.
    and the US will eventually loose its validity among the world but our ego will never let us accept the fact that our great experiment in democracy and capitalism has resulted in a contemporary Roman republic. and we all remember how the Roman republic ended (spending too much trying to fund ventures that had nothing to do with Rome itself. Sound familiar?)

    February 14, 2011 at 2:07 pm | Report abuse |
  12. Joe

    I read that Obama wants to cut funding for lower income people to pay for Winter heating, but yet he's happy to keep the current military spending as is. Oh yeah sure, let's spend billions (trillions) of dollar forcing "Democracy" onto some middle eastern country who hates the US Govt vs. spending a fraction of that on helping needy US Citizens here at home just stay warm in the Winter.

    I voted for Obama, but you know his decisions lately (over the last 2 years) raise the question whether he's just another version of G.W. Bush who just gives and gives to the BLACK budget called D.O.D. while at the same time he robs citizens of the USA basic help needs as Winter heating!!!

    Obama – how do you sleep at night?
    Obama – why do we have troops in Afghanistan? What's the purpose?
    Obama – how much money would the US Govt save if US troops were not in Afghanistan?

    Obama – why don't you look into the mirror and see how your actions are ruining this country that G.W. Bush left is such a fragile state of economic & social disarray..

    Rgds,
    Joe (An American who got sick of all bull**** there and moved overseas for a permanently better life..

    February 14, 2011 at 2:14 pm | Report abuse |
  13. Mike

    Obama's entire economic policy is a series of fantasies and so are those of the Republican's. The Free Trade experiment has been a failure and has wrecked our economy. The solution is 50% across the board trade tariffs and duties on top of those for all consumer good imports, an end to guest worker visas, and taxes on multinational corporation's world wide income. Make economic treason REALLY expensive. Behind trade walls we can grow good jobs. Without those walls we will simply continue to bleed to death, our jobs, our nations wealth, our technological capabilities and manufacturing plants, shipped off to China and India.

    February 14, 2011 at 2:15 pm | Report abuse |
  14. wowlfie

    It's pretty hard to get wooed or excited by the cuts dictated by a moron.

    February 14, 2011 at 2:16 pm | Report abuse |
  15. johnborg

    Cut Pell Grants.. smart Mr. Obama. Take down the youth. Pell Grants help me make it through college. If this is the type of moves Obama is planning on making then I'm voiting for a third party candidate in protest in 2012. News Flash: End the wars, cut defense! You want to save money, this is where the majority of it goes. I despise the Republican Party but this is why I think Ron Paul is one of the smartest politicians in the U.S. If you want to end the fed or cut taxes dramastically or save the government from more debt then the wars must be ended. Hell, it took till 1997 for the government to finish paying off WWII. End the War! then we can talk about budget cuts.

    February 14, 2011 at 2:17 pm | Report abuse |
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16