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.

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Filed under: Barack Obama • Economy • Politics
soundoff (517 Responses)
  1. Gatordave

    Republicans wasted no time in letting the president know what they liked – nothing.

    This is "news?" Whatever Obama does will be wrong in the rethugs eyes. Yawn.

    February 14, 2011 at 2:25 pm | Report abuse |
  2. ahunter

    Just a touch of respect would be so classy!!! WOW, Americans showing no class, respect the position, PRESIDENT!!!!

    February 14, 2011 at 2:25 pm | Report abuse |
  3. rmr797

    First off, if I spent what I didn't have, I'd be in jail. Secondly, why not cut the space program? I'm sorry but can't it be shut down until we are back on our feet? That's a few billion right there. You're going to cute heat assistance? Pell grants? School programs? But keep sending stuff into space because you're curious? COME ON!

    February 14, 2011 at 2:26 pm | Report abuse |
  4. VegasRage

    Yes it's a fantasy

    February 14, 2011 at 2:27 pm | Report abuse |
  5. ahunter

    This lack of respect, will tarnish Americans image even further, Americans will be forever remebered for this rude and supect behavior towards the President!!

    February 14, 2011 at 2:28 pm | Report abuse |
  6. Jack

    This is smoke and mirrors. and anyone who thinks otherwise would buy snake oil. Our national debt before Obama came to office was 7 Trillion , that's all time. Since he came into office he has spent 3-1/2 trillion a year for a total of 7 trillion more. Now it';s up to 14 trillion. The smoke and mirrors is he wants to spend 3-1/2 trillion a year which is exactly what he is spending now. This is NOT a budget cut. Anyone other than a dumb liberal should see that. Don';t let this lying idiot fool you. Do the math, this is his way of playing Houdini with your money.

    February 14, 2011 at 2:28 pm | Report abuse |
  7. sleepyhead01

    Here's my take. Means test social security, until it can be phased out. Let Americans fund their retirement themselves. Put all Americans that can't afford health insurance on Medicaid. Require REAL accounting from every government agency especially the Pentagon. Provide less services. Put every available dollar into education to retrain our workforce. Close tax loopholes on both foreign and domestic companies doing business with us. Mandate every country we trade with to provide identical access to their markets as we provide them. Put 2 term limits in place in both the House and Senate. Require a minimum of 2 years of service from all young people to receive government education grants (military, Peace Corps, etc.). Put in place a balanced budget amendment.

    February 14, 2011 at 2:28 pm | Report abuse |
  8. TripleA

    Even if our government does not raise taxes on us a single dime, the middle, and lower classes will still suffer a massive tax increase. That’s because government services will be cut, so taxpayers will be getting less for their tax dollars. The rich, since they do not depend on the services cut, will be doing even better than the lower classes because they have the money to purchase the services. Private schools, colleges, good health care, private police forces, gated communities with internal fire departments, you name it, the top 1% will get it, and the rest of the nation will be left with the left-over. This government must act to redistribute the nations’ wealth, or we may be facing a new dawn of feudalism.

    February 14, 2011 at 2:30 pm | Report abuse |
  9. 2FLI

    So all that talk during the elections from the Republicans about how they were going to cut spending was just hot air...wow, who'd have expected that? The Republicans have control of the House and still they say no to the important things and offer no ideas of their own in return. Not saying the Democrats are right about anything, but it'd be nice if the Republicans offered up something, at least try to offer solutions, maybe contribute to making this a better country for ALL.

    February 14, 2011 at 2:30 pm | Report abuse |
  10. Bagette

    So, to help the economy, he wants to put college graduates into larger amounts of debt with his proposed increase of interest/charging interest while in school. Awesome.

    February 14, 2011 at 2:32 pm | Report abuse |
  11. DCBuckeye

    I'll believe the Republocrats and Demopublicans are serious when they:

    – Have the guts to stand up to the powerful greedy senior lobby and cut Social Security& Medicare, as well as find a way to transition people out that Ponzi scheme known as S.S.;

    – Cut defense far more than is proposed;

    – Make our European and Asian allies pay more for their defense;

    – Abolish the tax code and establish a flat tax for those making $25K/yr or more;

    – Make $1 in budget cuts for every $1 in tax cuts (with the aforementioned SS, Medicare & defense at the top of the list);

    – All take pay cuts, significant cuts in their health plan, cuts in perks (like free parking at IAD & DCA for starters), and abolish the "free benefits for life" for virtually any previously elected Senator or Rep.

    February 14, 2011 at 2:34 pm | Report abuse |
  12. Mike

    ahunter – Excuse me, things like "respect" and "duty" are two way streets. This President DOES NOT respect us. He routinely *lies* about the real unemployment numbers, the state of our economy, and you can be dan certain he knows that the Free Trade Ponzi schemes have resulted in the collapse of our economy. Likewise, the Republican's know it, too. But both sides continue to pretend that we aren't on a train ride that will lead to the complete destruction of the country. They know it! We cannot pay public sector workers 100% more than private sector workers. We cannot afford executives getting multimillion dollar bonuses. We cannot afford those cheap H1-B workers from India that Microsoft and Intel and IBm use as slaves. We cannot afford Medicare Part "C" drug coverage and we certainly cannot afford the illegals on that plan, drawing Social Security benefits, using our schools and social services. We cannot afford tax breaks for big corporations, either. They simply take that money and acquire more small businesses and outsource their jobs over to China and India. Respect would entail telling the country that the past three Administrations made an enormous mistake with the global economy experiment and we either end it or we commit national suicide.

    February 14, 2011 at 2:36 pm | Report abuse |
  13. fedup

    this guy s bankrupting our country!!!!

    February 14, 2011 at 2:38 pm | Report abuse |
  14. Zaggs

    So Obama considers it "fiscal discipline" to reduce the deficit over 10 years by an amount less then the deficit will be this year (1.1 tril to 1.5 tril)?

    February 14, 2011 at 2:41 pm | Report abuse |
    • 2FLI

      Would you rather nothing at all be done? It has to start somewhere, and other than hearing them say "No", I'd like to know what the Republicans plan to do that's better...however, forgive me if I don't hold my breath while I wait.

      February 14, 2011 at 2:49 pm | Report abuse |
  15. John

    CUT THE F**EN FOREIGN AID!

    THE GVT SHOULD NOT CUT ANYTHING FROM THE BUDGET OF THE AMERICAN PEOPLE BEFORE IT STOPS ALL OVERSEAS AID. TAKE OUR TAX MONEY, SEND IT TO FOREIGN GVTS, THAN CUT THE PROGRAMS THAT HELP US!! SERIOUSLY?!?!

    February 14, 2011 at 2:44 pm | Report abuse |
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