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. sameeker

    I notice that the repug budget hearkens back to the days of Reagan. Gut all the regulatory agencies and cut programs for the poor. I like the idea of cutting everything across the board. I also favor closing the loopholes that allow the wealthy and the corps to avoid paying taxes. I like the presidents statement that small businesses can't afford huge accounting departments to avoid paying taxes. He also noted in his address that the oil companies seem to be doing well on their own. They do not need any tax breaks.

    February 14, 2011 at 11:49 am | Report abuse |
  2. david

    This is silly. The democratic house and senate doubled the debt to $14Trillion in only 6 years. This is more bandaids, and not fixing the problem. Do like other countries and add tariffs to all we import. Hello ??

    February 14, 2011 at 11:52 am | Report abuse |
  3. John

    Got a great idea. Lets say no more medicare, medicaid, and social security. Get that off the table and the government will have lots of money to spend to create jobs and to pay off our debt. Not to mention we would get more money in our pay check too.

    February 14, 2011 at 11:53 am | Report abuse |
  4. Wayne

    Obama...one worthless niqqer.

    February 14, 2011 at 11:54 am | Report abuse |
    • TR Collins

      well a racist really proves his incredible ignorance when he can't even
      spell his racial slurs correctly. better a black man than a complete imbecile.

      February 14, 2011 at 12:01 pm | Report abuse |
  5. TR Collins

    put an end to bloated military spending

    February 14, 2011 at 11:54 am | Report abuse |
  6. ByTheNumbers

    I looked at the summary data in the budget proposal. The numbers are large and meant to cause people to just glassover and take them at face value. But, there's some basic math we can do to see what this really means.

    The basic math shows that even though the Administration is cutting spending (a good idea, just debate where to cut), they project a GDP growth of 4.3% in 2012 with a revenue (tax income) growth of over 20%.

    If they cut government contracts, that will add to the unemployment lines. How do they justify a projected 20% growth in their tax revenues?

    I think they are being overly optomistic deliberately to let the Republicans be the bad guys.

    February 14, 2011 at 11:54 am | Report abuse |
    • TR Collins

      they are lying

      February 14, 2011 at 11:58 am | Report abuse |
  7. Aaron

    "Wall Street's collapse and risky, fraudulent behavior accounted for approximately 10 million jobs lost. You need capital to flow to put people to work. Deregulation = job loss. It's been prooven...do some homework before you spout off."

    =========

    Perhaps you should do your homework because if you had you would realize that Democrats during the Clinton administration were responsible for many of the relaxed policies that allowed Wall street to operate they way they did.

    February 14, 2011 at 11:55 am | Report abuse |
  8. Dulcimer

    The Republicans created this whole meltdown, a president asleep at the wheel, starting 2 cripplingly expensive pointless wars, letting national infrastructure rot & letting the financial sector do whatever they chose.

    Is that a party with ANY credibility ?

    February 14, 2011 at 11:56 am | Report abuse |
    • citizen

      Why does current administration continue to let financial services do what they want. And even appoint jp morgan alum to plum inside job.

      February 14, 2011 at 12:03 pm | Report abuse |
  9. HouseSpeakerJohnBoehner

    Hey guys, vote GOP in the next election. It's time to finish destroying this country. As long as us Republicans and Teabaggers have enough money when everything falls apart, we'll be able to move to another country and live like kings. Nothing will ever be bad for us as long as we continue to screw over the classes under us. And remember GOP means "Get Off on Pain." We derive pleasure from the average Americans citizens suffering!

    February 14, 2011 at 11:56 am | Report abuse |
    • Karl Rove

      Obviously Democrats and liberals hate America and want to bankrupt the finest democracy that ever existed. Our founding fathers are turning over in their graves! WWJD? Every one knows that if you give all the money to the rich and keep the Federal Govt. from regulating business and banking practices the vast wisdom and benevolent conscience of the wealthy will provide for average Americans. Why, it's just plain silly to think any other way!

      February 14, 2011 at 1:13 pm | Report abuse |
  10. Rondo

    Obama promised the unemployment wouldn't go above 8% if the nearly trillion dollar stimulus passed. It passed, unemployment went up to 10%. He said he would pull the troops out the first year in office, then extended it to 18 months, then 2 years.... He said he would put an end to the Bush tax cuts for the wealthy. He voted FOR it. It goes on and on. But as good little supporters, you won't use facts against Obama. Just keep blaming Bush and calling anyone against him racist or stupid. Why not face the truth? Oh thats right, you are a democrat.

    February 14, 2011 at 11:57 am | Report abuse |
  11. ted

    Washington needs to stop printing money , cut everything ,tax the sh^&^(*&**&) out oF THE RICH ,and do it NOW!! OR WE THE U.S.A. WILL BE FLAT BROKE .
    MOST PEOPLE DO NOT KNOW THIS BUT WASHINGTON IS IN A BAD PLACE WITH THE DOLLAR, AND YOU THINK 2008 WAS BAD THIS COULD CHANGE AMERICA AS WE KNOW IT .

    February 14, 2011 at 11:57 am | Report abuse |
    • Jeff S

      Its actually the private banks who illegally control our money who are doing the printing. The military could unseat them legally if congress/president doesn't act, but, at this point, without the so-called "federal reserve", all economic activity in the United States would collapse.

      February 14, 2011 at 12:11 pm | Report abuse |
  12. ernie

    All the GOP wants to do is be part of the problem NOT part of the solution. Why don't they compromise, that is what this country is all about. There has to be a happy medium that we can agree upon. The truth is that they want to smear Obama every chance so they won't lose the next election so bad.

    February 14, 2011 at 11:57 am | Report abuse |
  13. citizen

    Reagan's spending was necessary. We broke the back of the soviet economy by out spending them on weapons.
    But the mushroom clouds were real threats in the cold war unlike the fake threats spun by condi, donald, and collin in the run up to the trillion dollar iraq war.

    February 14, 2011 at 11:57 am | Report abuse |
  14. david

    If we didn't give billions to so many countries, we would be out of this mess in a few years. We give money to repair muslim temples in the middle east only for them to hate us more. In California, we pay taxes to complete Mexico's takeover of the state. It's all so simple..

    February 14, 2011 at 11:58 am | Report abuse |
  15. Richp, Easton, Pa

    I still have not seen any legislation proposed or passed by the DC Elected clowns that close the tax loopholes and advantages for corporations moving jobs and production overseas, Until that is accomplished we here in the US are at a disadvantage and nothing will change, as long as it is cheaper to move production outside the US then bring it back in tariff free nothing will change. Until it costs as much to manufacture and import a TV or any other widget to the US as it would cost to build it here nothing will change.

    February 14, 2011 at 12:00 pm | Report abuse |
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