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. Barry

    Obama has increases spending by 24% in just 2 years and that doesn't include the stimulus. Add the stimulus and Obama has increased spending by 80%.

    February 14, 2011 at 11:04 am | Report abuse |
  2. buccakenji

    Thank you "Heywood" – I hope "Don" has read your comment. Question is whether it will resonate with any reality to him. Libtards have a brain, just don't know what it is for.

    February 14, 2011 at 11:04 am | Report abuse |
    • dave

      Speaking of intelligence, I'd love to see Obama and Bush sit down and take an I.Q. test. I don't think the results would be surprising.

      February 14, 2011 at 11:58 am | Report abuse |
  3. clarke

    I really just want to hear possible solutions and how it will work and how long it will take. I don't want to hear from any party what the other guy/women thinks is wrong, tell me why its wrong and what are you going to do to make it right and how.

    February 14, 2011 at 11:04 am | Report abuse |
  4. Barry

    Democrats want to bankrupt America. It's not enough that we are currently spending 40 cents on every dollar in interest payments alone?

    February 14, 2011 at 11:05 am | Report abuse |
    • Jose Head

      That is incorrect, we are not paying "40 cents of every dollar" on interest payments. Medicare, Medicaid and Social Security are 40% of the federal Budget, followed by Defense, which is more like 35%. Interest on the National debt is more like 10%. Which is why the cuts proposed by Obama, and the Republicans, are so disingenuous. Real cuts must be made to Social Security, Medicare and Defense in order to have any effect on the deficit. It will never happen, until there is a crisis, ie: the financial world stops buying US Debt because of default risk.

      February 14, 2011 at 11:12 am | Report abuse |
    • Barry

      Jose-Feel free to look it up and stop with the about 10%. If you don't know, don't comment. So far this FY (as of 31Jan2011), the Treasury Department spent $169 Billion of your money on interest payments to the holders of the National Debt. Compare that to NASA at $6 Billion, Department of Education at $31 Billion, and Department of Transportation at $26 Billion.

      February 14, 2011 at 11:17 am | Report abuse |
    • D

      Dems don't want to bankrupt the country anymore than Reps do ... oh wait! They both do! Oops!

      February 14, 2011 at 11:49 am | Report abuse |
  5. jb1960

    The party of no ideas just keep rolling along. They are on Ozzies crazy train.

    February 14, 2011 at 11:05 am | Report abuse |
  6. John

    The root cause? Spending more than we have and printing money. Printing vast amounts of money dilutes the value of each and every dollar.

    I'd say the root cause is stupidity.

    The president is running out of time. He ran out of ideas... heck, I'm not sure he had any good ones to start with.

    February 14, 2011 at 11:06 am | Report abuse |
    • Subhendu Das

      You are correct printing money will devaluate the dollar to zero. Eventually money will go away. We do not need money. We can then create a moneyless economy.

      Whom do you pay the debt? We have printed the money. It is our money. If you could print money and do grocery, buy your things, then you will not have any poverty. You do not have to pay the money back. The same will be true for the government.

      February 14, 2011 at 11:26 am | Report abuse |
    • Subhendu Das

      You are correct printing money will devaluate the dollar to zero. Eventually money will go away. We do not need money. We can then create a moneyless economy.

      February 14, 2011 at 11:27 am | Report abuse |
  7. the real deal

    The haves and have mores stripped you of every thing. Go ahead and work 12 hour days your whole life. The man will laugh last.

    February 14, 2011 at 11:06 am | Report abuse |
  8. MIKE

    On a par with Mother Goose Nursery rhymes. Thi9s is definitely the book of fiction with no truth what so ever. What we need to do is say if they miss by more than plus or minus ten percent on the deficit prediction they are all fired. Might help get Obama's Fables closer to the truth.

    February 14, 2011 at 11:08 am | Report abuse |
    • D

      Sure, why not? Would have gotten Bush and his fables out earlier too! That would have been a win-win!

      February 14, 2011 at 11:50 am | Report abuse |
  9. Georgia

    Republicans don't create jobs. They ship them overseas in order to increase their quarterly profit margins and purchase property outside the United States.
    The decreased regulations on American businesses is what got us into this mess. There apparently are no courses in Ethics in the standard MBA program. Trickle down economics is total "voodoo", aimed at taking wealth from the lower 50% of the population and giving it to the top 2%. These businessmen need to take a history course and examine what has happened in other societies when the gap between the richest and the majority of citizens gets to be a canyon.

    February 14, 2011 at 11:09 am | Report abuse |
    • D

      Don't forget about the rampant tax cuts over the last 20-30 years. Of course we can't afford anything anymore; we've cut our Federal income so severly.

      February 14, 2011 at 11:51 am | Report abuse |
  10. cml

    This article is not news, and the headline's implication is not based on any facts. The "article" also seems to blame the president for proposing a budget that is unlikely to make it intact through a difficult and byzantine budget approval process. This is silly for the following reasons: 1. the president is expected to propose a budget, to belittle him for doing so when it will only be changed is ridiculous. It's the start of the process. 2. This budgeting process has existed long before President Obama, and it is no judgement on the administration that the process seems inefficient. 3. I can't think of a single budget that any president has proposed that has made it through intact. This is the start of a process. 4. I can' think of a single presidential budget that the opposition party has praised.

    The "article" seeks to back up its specious claims that the budget proposal is worthless, by quoting the tired old party-line message of the political opposition.

    I could go on. In summary, this is not news. It is a maliciously spun blurb devoid of a byline that tries to blame President Obama for the difficult budgeting process and also for his political opposition not liking his proposals. The facts are these: budget processes are difficult, the opposition will always disagree-it's their job, dummy, and sometimes Congress can't even get it's act together to pass a real budget. Did we need to be told this? Did the writer need to pin it on President Obama? No. they just have an agenda, and as far as I can tell, are too cowardly to have a byline.

    cml

    February 14, 2011 at 11:10 am | Report abuse |
  11. Carl

    Of COURSE this budget is all fantasy. This entire administration is based in fantasy. Between Obama, Reid, and Pelosi, the past two years hasn't spent one minute in reality while the rest of America tightened its belts and lived within its means. What do you expect from the drunken sailor spending of these clowns?

    February 14, 2011 at 11:11 am | Report abuse |
    • D

      Wait, you're not talking about the Bush admin? Now THOSE were some drunken sailors, to be sure!

      February 14, 2011 at 11:52 am | Report abuse |
    • dave

      Every time an idiot on the right says something negative about Obama or Democrats in general, ESPECIALLY with regard to the economy, I have to laugh. Sorry champ, but it's gonna take more than a couple of years for us to forget the scourge that was the George W. Bush administration's economic policy.

      February 14, 2011 at 12:05 pm | Report abuse |
  12. Barry

    How is that living within your means?

    February 14, 2011 at 11:12 am | Report abuse |
  13. a6102658

    If you say that most people that identify themselves as Republicnas are job creators,
    let me rephrase that...
    Most wealthy people become Republicans because of the the benefits of the Corporate Welfare and Bailouts for the Rich..
    I would too become one if I was wealthy, even if I fail the Republicans would pull me by my straps..

    February 14, 2011 at 11:12 am | Report abuse |
    • It's all a game

      @a6102658. Wait a second. Who bailed out the failing "big corporations" just recently? President Obama, a democrat. So keep the facts straight, please.

      February 14, 2011 at 12:54 pm | Report abuse |
  14. Barry

    The Obama plan would fall far short of the $4 trillion in deficit cuts recommended in a December report by his blue-ribbon deficit commission. Why have a commission if your not going to listen to them Obama?

    February 14, 2011 at 11:13 am | Report abuse |
    • Carl

      Obama cherry-picked the membership of the deficit reduction panel in hopes it would support his freewheeling spending plans. When they actually took a breath of reality and suggested austerity, he pretended they never existed.

      February 14, 2011 at 11:17 am | Report abuse |
  15. Carl

    Let's see...raise spending by a Trillion dollars per year, then vow to trim $100B from the budget each year in the the future and somehow that's a reduction in spending? Is this the new math they're teaching in Government schools these days? Do you not yet understand that these elitists still think the voters are a bunch of mindless morons? 2010 was a good start, but we still have a LOT of work to do to wrest control of our country back from these free-spending elitist clowns.

    February 14, 2011 at 11:15 am | Report abuse |
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