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. POD

    Like Warren Buffett said......he is in a de-facto lower tax bracket than his secretary

    February 14, 2011 at 12:49 pm | Report abuse |
  2. Zues

    Obama did nothing but help the rich. NPR gets money, they fired somebody for Islamic comments and yet Vivian Schiller makes nasty remarks about Juan and doesn't get fired for that. Instead she gets a little money taken away from her. AIG gets money and they don't higher in bulk or create jobs, they just higher elite people who have already come from money. We need to spend money on creating more factory jobs that would create more middle class.

    February 14, 2011 at 12:50 pm | Report abuse |
    • kburgoyne

      The GOP did nothing but help the rich.

      February 14, 2011 at 12:55 pm | Report abuse |
  3. s. smith

    Once again cut social programs, attack the middle class, watch the infrastructure of the U.S slowly decay. But not a word of cutting military spending. The U.S Military is 3 times the size of the rest of the world combined, enough money goes into it every year to fix all of the problems Americans are facing. What can war breed but endless war.

    February 14, 2011 at 12:51 pm | Report abuse |
  4. kburgoyne

    If the focus remains honestly on the DEFICIT and NOT on just spending, then the House GOP will really be squirming. This country only gets into trouble when the GOP gets away with their lie about tax cuts not impacting the deficit. The problem is the GOP keeps lying about how much revenue the government is going to take in through tax cuts, and the revenue never ends up offsetting the cuts. At least we have an honest President in the White House now when it comes to what goes on the budget. No more lies pretending that war costs are not part of the budget.

    February 14, 2011 at 12:52 pm | Report abuse |
  5. Walter

    Ralf – just pay more man! For those that feel they should pay more, why aren't they doing it? Nobody is stopping you!

    February 14, 2011 at 12:52 pm | Report abuse |
  6. Think

    If you have a teenager asking for a raise in allowance, wouldn't you first make sure they are spending their current allowance wisely?

    February 14, 2011 at 12:52 pm | Report abuse |
  7. Name*big dog77

    He's run our deficit up 5 trillion dollars in two years,but isn't gonna trim but 1 trillion over 10 years,who does he think he's kidding! His math class tudor must have been from Kenya,or Obama was hanging out in the smoking area during math class!

    February 14, 2011 at 12:53 pm | Report abuse |
  8. Brent

    Dear President Obama,

    Seems like youre holding hands with an angel but his real name is Lucifer... It would be nice to see your actions were true to your words of hope and economical growth... It looks like youre running this country blind folded and backwards through a field of stones, its only a matter of time before your on your back with water dripping slowly on the foreheads of us Americans.

    February 14, 2011 at 12:53 pm | Report abuse |
  9. Judith S Rogers

    Let's write the budget truthfully. The money goes to the lobbyists who will share some of it with the senators and representatives who they feel are worthy and the rest of us can get on the bread line – however, there will be no bread for the rank and file. AND as the gas lines under our homes blow up and the bridges and tunnels and roads collapse and we are hungry...what follows?!

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

    Solution:

    Nuke China = no more Debts

    jk

    February 14, 2011 at 12:54 pm | Report abuse |
    • Baruch

      Nor funny.

      February 14, 2011 at 1:04 pm | Report abuse |
    • Baruch

      Not funny.

      February 14, 2011 at 1:05 pm | Report abuse |
  11. sperry83

    Heres is the question I want a answer for. The fedearl goverments owes Trillons of dollars. If a hard working person such as us owes money they want it right ir you go to jail. So why does the federal goverment get to keep spending our money and nothing happenens to them. I think it wrong and I am sick of giving money ro people that still close up shop. I tired.

    February 14, 2011 at 12:56 pm | Report abuse |
    • Harry(NJ)

      boy you are really missing the boat, the government's debit is like you having a large credit card debit that you continue to pay on. What the government is doing is only making the minimium payment and then leaving the rest to later generations. It would be same if you had a huge debit and only paid interest on it and that was it. And using that barrowed money to buy weapons, fight wars, build schools, and maintain infrustrure (roads). Would like the government to not do any of these things?

      February 14, 2011 at 1:34 pm | Report abuse |
    • Cavermarkk

      Perhapse the Fed could take a lesson from Tennessee. http://blogs.knoxnews.com/humphrey/2010/09/tn-borrows-less-than-any-other.html

      February 14, 2011 at 3:30 pm | Report abuse |
  12. Realistic

    The republican solutions are simple: Cut education and dumb people down and so only the wealthy can afford education.(Brazil tried that and failed. Now education prevails and country going up).. Cut subsidies for low income familes and healthcare and cut road repair but not where they live. And commit to the trickle up effect solution (tax cuts for the wealthy) and subidies for large coprs or their friends. See spreading the wealth but their idea is to make the poorer in the nation to do without so the mega rich can have more..Republicans are scam artists....

    February 14, 2011 at 12:57 pm | Report abuse |
    • Name*big dog77

      You cany educate the thugs,even animals are smart enough to weed out the ones who can't make,course I know my chocolate lab is smarter than obama

      February 14, 2011 at 1:05 pm | Report abuse |
  13. Jaison Biagini

    the fairest tax is a consumption tax. put a federal sales tax on products. the can be no hidden income. get paid for selling drugs, you still pay taxes on what you buy. the rich will pay more because the buy more expensive stuff. you can grow your own food if you wanna pay less.

    February 14, 2011 at 12:59 pm | Report abuse |
  14. Zues

    I wonder if this is all George Soros's plan? Create a tipping point for the Americans so that we want to create a revolution and ask for a new form of government. I don't know just a thought.

    February 14, 2011 at 12:59 pm | Report abuse |
    • Baruch

      You overestimate the reach and ambition of Soros. Seems you have fallen for some of the psychotic rhetoric from Beck and his ilk.

      February 14, 2011 at 1:03 pm | Report abuse |
    • kburgoyne

      How unpatriotic can you possible be? Soros worked to bring down two communist governments in eastern Europe. What are you, a communist who's now mad at him?

      February 14, 2011 at 1:10 pm | Report abuse |
    • Zues

      No, not a commi. But somebody's making some poor decisions guys. I mean, the money being spent in this economy is not benefiting the poor and the middle class. Don't you think? Yes, I know George Soros's is hype, but I think he who has a lot of money can grease a lot of palms.

      February 14, 2011 at 1:15 pm | Report abuse |
    • Zues

      I plead ignorance!

      February 14, 2011 at 1:17 pm | Report abuse |
    • Zues

      I also plead that although we are nothing like a communist country, the fact that we have helped the rich and continue to hep the rich, is starting show a big gap between Rich and Poor. That to me seems communist. The fact that the media is always producing red herring facts and persuading the truth, seems communist. The fact the many people are being kept ignorant about their finances on what they can and can't afford and so own a house, car that does not justify their means, is some sort of communism by suppressing them even further from their dreams.

      February 14, 2011 at 1:25 pm | Report abuse |
  15. dave

    there are no republicans that care about fiscal responsibility. its obvious that it is a bad idea to start a war that costs billions of dollars a year (not to mention soldiers lifetime benefits which repubs slashed) and then give out tax cuts that are worth billions of dollars while our men and women in uniform who are under equiped (tax dollars pay for our troops equipment for those of you who dont know) are getting chewed up. they were put in office to do three things. cut medicare cut s.s. and overturn roe v wade. Oh i forgot one thing cut public education. and they only want to do that because they are puppets of the rich who dont want to pay into public programs because they dont need them. Tax breaks during wartime is insanity. anyone who votes for those idiots is hypnotized by their false impression of patriotism.

    February 14, 2011 at 1:00 pm | Report abuse |
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16