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Today's Nuze

"Every government interference in the economy consists of giving an unearned benefit, extorted by force, to some men at the expense of others."

Ayn Rand

Nobody's listening.

OBAMA DEMANDS PAYGO

By
Neal Boortz
@ June 10, 2009 8:32 AM
Permalink | Comments (52) | TrackBacks (0)

Last week Obama urges Congress to adopt a government option for healthcare .. a plan that will cost over $1.3 trillion. On Monday Barack Obama announced to the nation that he was going to ramp up stimulus spending.

Now, all of the sudden, Barack Obama is worried about spending. Yesterday he urged Congress to reinstitute Paygo. That would require Congress to finance the cost of any spending initiatives by either increasing taxes or cutting something from the budget. Based on the Democrats lofty schemes -- universal healthcare, increased spending on education, energy legislation, bailouts, stimulus spending - it doesn't seem like much is going to be cut from the budget. In fact, we are talking about the largest expansion of government in history, and that is on top of our $1.8 trillion federal deficit. Oh and somehow Obama also plans on cutting the deficit in half by the end of his first term.

So how is all of this going to happen? Well it sure isn't going to happen with economic growth, not with this economic fascist running the show. So the answer is ... tax increases. That's the only way.

We have three basics economic classifications in this country. Producers, moochers and looters. The moochers are licking their chops, the looters are putting on their ski masks and the producers are looking for cover.

You can rest assured that there won't be any direct new taxes or increases on the moochers; after all, those are Democrat voters. Obama's plan is simple. All he has to do is tax the wealth. Seize the money from the evil rich, the job providers, the corporations, the small businesses. We already know that this is the plan to pay for healthcare .. Obama said so earlier this week. Listen to how he says this, "Entitlement increases and tax cuts need to be paid for ... They are not free, and borrowing to finance them is not a sustainable long-term policy." When Obama says "tax cuts" he is actually referring to government handouts. You would know that if the media was treating this honestly. Someone has yet to explain to me how it is possible for Obama to give tax cuts to people who don't pay income taxes. But then again, he is like God (sort of) ... right?

Apparently some items would be exempted from Paygo: Medicare payments to physicians, the estate and gift tax, the Alternative Minimum Tax and tax cuts enacted in 2001 and 2003.

But here is how it really works. This paygo thing is nothing but a gimmick. At least that is what Brian Riedl, a budget analyst at the Heritage Foundation, believes. He explains that "the Paygo law required Congress to make across-the-board cuts in entitlement spending at the end of any year in which the Congressional Budget Office found that Paygo requirements had not been met. He said lawmakers responded each time by passing another bill, waiving the Paygo requirements." In other words, it is nothing but a talking point. It's a charade to make you believe that these politicians actually care about spending when in fact they don't. All they care about is making you, the ignorant voters, more dependent on government.



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What others are saying

  • NEAL - THIS CAPTCHA
    SUCKS!!!!
  • Forrest - no surplus
    There was no surplus in the late 90's and early 2000's. It is a myth. All you have to do is look at the national debt numbers. Or simply Google "Clinton Surplus Myth".
  • @Bill
    >>>>I am a producer, middle class person and I yet to see any tax cut. I have gotten a BIG FAT ZERO. Please explain what tax cut you are refering to.<<<<<

    Bill- you mean you haven't enjoyed the windfall fruits of that $13 per paycheck tax "cut" Obama gave you??? Actually, I haven't either, because according to OBozo I am rich because I make over $75K and I don't get that $13 tax cut.

    So, Bill, you must not be middle class either if you didn't get that $13.
  • Now what?
    To t-shirt (and others)- why do you want to raid the military budget? That is one of the things congress is supposed to spend money on.

    Noow, as far as raising money, how about we tax the net WORTH of all individuals with assests exceeding $15 million (or some other high figure)? hat way, we can make the Kennedys and others who have looted our economy for decades to "pay their fair share". To appease the liberals, this would also hit Rush Limbaugh. Could anyone out there calculate what that would raise in revenue?
    Scrap Iron
  • Copyleft -- What middle Class Tax Cut?
    I am a producer, middle class person and I yet to see any tax cut. I have gotten a BIG FAT ZERO. Please explain what tax cut you are refering to.

    So please do not say that the producers have gotten anything from this joke of a president because we have not.
  • Definition of Media
    Doc,

    A magazine article is still MEDIA. When I said brush up on economics I meant read a textbook or take a class. Or at the very least think for yourself and don't take something you read from a magazine as gospel, unbiased, truth.
  • Twistedsaint
    i just read the reply "Derivatives Article". i will admit to my lack of knowledge about Derivatives trading and Wall Street. i will bow to you because of my lack of knowledge.
    i get my news from the internet. i haven't watch the network news in quite a while.
    i have read about the politicians being psychopaths before. it sounds reasonable to me.
    thanks for knocking me on my high horse
    :O)
  • Re: Joyce M/Blythe - The last thing we need to be doing is fighting amongst ourselves and pointing fingers at who did what. They have ALL lied to us, and as long as we can't agree on anything, THEY WIN.
    Dittos on that statement!!!!


    WE need to keep our eyes on defeating the Statists and ignore irrelevant distractions.
  • Twistedsaint
    i don't listen to media soundbites. i read Business Week. maybe you should do it too, instead of listening to the Fox News.

    Wall Street's Economic Crimes Against Humanity by Business Week. why don't you read this article, we can call it your brushing up on basic economics

    http://www.businessweek.com/managing/content/mar2009/ca20090319_591214.htm
  • Re: butt neckid How can we convince those that have worked hard at making a living, and supporting lowlifes, to stop?
    Good question.

    But essentially that's the only thing that keeps a Statist economic system afloat.

    The Statist USE the producer's tendency towards hard work and achievement AGAINST their best interests.

    The only way we can stop this train ride into third world H*ll is to convince the Achiever's to take a stand against Tyranny.

    They at least have to know that at some point in the Stifling taxation spiral that all their hard work is being siphoned off by the government to enslave them even more.

    They hold the keys to their own salvation by going against their very instincts.

    I can't think of any other way to stop the spiral, the system WILL Fail, as Statist systems always do, the question is what will be the greater human and societal costs to stopping it now or later on?
  • Derivatives Article
    Doc,

    I read your article about derivatives, and it is highly misleading, and chock full of inflammatory statements such as "buying derivatives is not investing. It is gambling, insurance and high stakes bookmaking. Derivatives create nothing. They not only create nothing, but they serve to enrich non-producers at the expense of the people who do create real goods and services." This statement is completely misleading, mostly incorrect, and it's sole purpose is to rile up emotions without actually explaining anything. And to say that it is "at the expense of producers" is just silly.

    Derivative CAN be misused like any other investment, although they are mainly used as a form of insurance (By the way I have a degree in Finance and studied derivatives).

    But even if they are used purely in a gambling sense, that statement "at the expense of the producers" makes as much sense as saying blackjack players make their money at the expense of the playing card manufacturers. Say what!? The gamblers make their money at the expense of....the OTHER gamblers!

    And if you're gonna say that, well, you invested in a company that was misusing derivatives and lost... well boo hoo next time do better research and follow your investment. Investments do have risk, and it is supposed to be that way. If you don't like it, invest in T-Bills....well maybe not so much anymore now safer to invest in China lol.

    Stop getting your education from the media and for god's sake NOT from Obama the guy is a psychopath. Check out http://www.cassiopaea.com/cassiopaea/psychopath_2.htm -- especially the charismatic psychopath. It is like they are describing Obama exactly.
  • fred
    by axsident
  • How about paying off debt instead of PayGo
    Dave Ramsey must love this idea. Instead of getting rid of junk entitlement programs and paying off our debt we are going to use the money for new entitlement programs? This is like selling a 2 year old car that your upside down on for down payment money on a nice new shiny benz. Just makes absolutely no sense. Now is the time to make sacrafices and buckle down...
  • Copyleft and T-Doc
    T-Shirt Doc: Stop listening to media soundbites. They have no idea what they are talking about, or how things work on Wall Street. No one there is "looting" anyone. They are INVESTING, and you can choose to invest or not invest if you want. No one is forcing you to make bad investments and they are certainly NOT the cause of this crisis, even though Obozo and the media sure want you to believe that. Some brushing up on basic economics should help you understand.

    Copyleft: You clearly have such intense hatred for capitalism (which by the way you have no hope of EVER understanding). Please, just go. Why are you still here? Go live in France or Korea or something. It's a win-win for everybody.
  • FRED
    what did butt neckid do that caused you heart burn. he hits the mark more than he misses. back to work.
  • Look
    The last thing we need to be doing is fighting amongst ourselves and pointing fingers at who did what. They have ALL lied to us, and as long as we can't agree on anything, THEY WIN.

    We need true fiscal conservatives, people who won't tromp on the constitution. We need term limits.

    Look at each politician coming up for re-election, if his voting record says spend spend spend then ignore his rhetoric cause they will try to convince us they "have seen the light". BULL.

    If you aren't calling your reps on every issue then don't wonder what happened! We have to get involved.
  • Please butt nekkid, stop posting
    Just please stop. I beg you, and I'm sure I'm not alone. How did you figure out how to access the Internet anyway?
  • the shameful truth is..........................
    a provider strike is a good place to start,

    wait for it ,

    wait for it........

    but................ how can we convince those that have worked hard at making a living, and supporting lowlifes, to stop?

    the damn gubmint has most of the guns and they WILL use them to get their way and money! 'member waco, wounded knee.....

    sorry I'm not any help, I can't come up with anything useful.
  • the income tax
    10 Conditions For Transition To Communism

    1) Abolition of property in land and application of all rents of land to public purposes.

    2) A heavy progressive or graduated income tax.

    3) Abolition of all right of inheritance.

    4) Confiscation of the property of all emigrants and rebels.

    5) Centralization of credit in the hands of the State, by means of a national bank with State capital and an exclusive monopoly.

    6) Centralization of the means of communication and transport in the hands of the State.

    7) Extension of factories and instruments of production owned by the State; the bringing into cultivation of waste-lands, and the improvement of the soil generally in accordance with a common plan.

    8) Equal liability of all to labour. Establishment of industrial armies, especially for agriculture.

    9) Combination of agriculture with manufacturing industries; gradual abolition of the distinction between town and country, by a more equal distribution of the population over the country.

    10) Free education for all children in public schools. Abolition of children's factory labor in its present form. Combination of education with industrial production.

    2) that's settled. if you say the income tax is needs to be abolished your considered un-american

    4) there going this way. eminent domain and property forfeitures

    5) the federal reserve bank

    6) the deregulation of the media

    7) happening now

    10) we are your children going to school?
  • what's rong with this picture............
    the pic on drudge of osamabama ol' lady has 'sumpin' missin'..........



    where her fuzzy slippers be at.....
  • Re: butt neckid so, let's have a solution.....maybe a REVOLUTION.
    Those that are much smarter than I am please give me some guidance.....


    I still say that one of the best solutions is a short term taxPayer's or Producer's strike.

    The Statist's need the Producers to keep on churning out revenue for them to forcibly seize and use to buy the votes of the Dumb masses.

    Stopping the wealth production for even short term intervals is the only legal way we can get their attention.

    They can prosecute people that mess around with their IRS withholdings and deductions but they can't force achiever's to keep on working essentially for the government.

    Does anybody have any better ideas?
  • it takes both............
    until just recently it took both side of the aisle to get anything done. it will be so again but at what cost to us.

    with the 3 stooges in charge there doesn't seem to be a way to stop the train wreck ahead.

    for you believers, pray your knees off for all of us!
  • Moochers, looters, producers
    Neal wants everyone to think that moochers, looters, and producers are distinct groups, but... think about this.
    The Weather Channel and other private weather companies: They produce a great product and are able to charge consumers for it, but they receive a indirect subsidy since these companies don't pay for the actual costs of the weather data collection/delivery. Us taxpayers subsidize TWC to a great degree by our taxes going to NOAA/NWS/TPC, etc. Is TWC a moocher, producer, or a looter?
    Farmers: They produce a crop and make a profit on selling it into the marketplace. But, some of the largest agribusiness companies receive large direct subsidies of various forms. Are they looters, moochers, or producers?
    What about the companies and individuals receiving 'stimulus' money through a contract for road building, for example? This one is a little more difficult since these companies and individuals are receiving money for the work that is being done under the contract.
    Folks who build homes/businesses in flood plains and along the coasts prone to tropical storms: These folks receive a highly subsidized flood insurance known as NFIP? Are these folks looters, producers, or moochers?
  • What would the Looter in chief's agenda be If he WERE trying to destroy the country?
    This question has been asked in a number of places, but it's worth repeating:

    How would Fauxbama's actions be different if he WERE trying to destroy capitalism and this country.

    How would they be different than what he's doing now?
  • End of Tax Cuts
    Read a CNN article that claims that a provision of the bill is that all tax cuts must be offset by other tax increases. No report of corressponding tax CUTS to accompany tax increases. If true, this bill would create a law preventing a tax cut...ever. I bet they don't ignore that!
  • 2 cents
    You would be correct if conservatives had been in control. Bush, along with most of the Republicans are not conservatives
  • Ben Dover
    of course i blame them. there's enough fault to go around. both the republicans and democrats have got their hands dirty
  • who's in charge????????????
    ok I am gonna go out on a limb here......is osamabama really as stoopid as I think he is???

    you betcha!

    I would like to know who is pulling his strings. going out on another limb here.........I claim he is in fact "the manchurian canidate." I also claim he is a non citizen muslim.

    PROVE me wrong!

    what do you know about osamabama? nuttin honey. well thats not true. we know he is a fascist, socialist and a marxist. what else? he loves to go against the tide. most other nations are swinging right, the u.s. is goin' left (kinda like nascar, oh look they're makin' a left turn) people want lower taxes he says raise the hell outa 'em.

    many of you think ol' butt neckid done gone plum krazzy, not true. I'm just plum pissed off.

    I need a leader that will give guidence, and leadership. someone with strong character, and a belief in the laws of this country ie the CONSTITUTION. someone that will do the right thing 'cuz it's the right thing to do.... even though it mAY cost you political points.

    so, let's have a solution.....maybe a REVOLUTION.

    those that are much smarter than I am please give me some guidence.....
  • The Statists really only have three answers to every crisis:
    Take from Producers,
    Hand out to moochers,
    And regulate the piss out of everything else.

    These three actions always chip away at our liberty and empower the government, so it's should be any surprise
    that this is their stock answer for just about everything
  • Just my $.02
    It sure would have been nice if, when we had "conservatives" in the House, Senate, and White House in 2001 with a record budget surplus, that the man in charge would have instituted a pay-go process. That sounds like it would have been a good idea. Imagine, we could have continued the surplus and it would have been plenty to fund nation building in Iraq. Instead, they got their hands on the government checkbook and went on a shopping spree, and now look where we're at! We're on a downward spiral of spending and we're going to hit the ground soon, and it all started with poser "conservatives" getting trigger-happy and trying to secure their power by assuring us that in order to be a true "small government conservative" you have to grow the government tremendously and nearly double the national debt in 8 years. It frustrates me to no end, and if Obama is able to really put this into place, good for him, but it is really about 8.3 years too late.
  • T-shirt
    Dirivitives traders? How about Barney Frank and Chris Dodd? They and the rest of the democrats in congress set freddie and fannie up for failure. When freddie and fannie sold bad loans to the other banks who needed to make their quotas they too were set up for failure. Blame congress where blame is due...
  • Tax and Spend, Borrow and Spend
    Copyleft, the common denominator is "spend." That's the problem.
  • OBAMA DEMANDS PAYGO
    He has opened mouth and inserted other foot ... again.
  • President Obama promised not to raise taxes - and he'll keep that promise
    because Congress sets the tax rates and passes the tax laws, not him.
  • Political Ploy
    Increase taxes and chance loosing the Congress. No increase in taxes and crash the dollar. They will crash the dollar only when they figure how to blame it on GW Bush, "Big Oil", and Wallstreet.
  • Don--dummy
    are you that stupid? how about derivatives trading? you ever heard of that? In an article on FinancialSense.com on September 9, Daniel Amerman maintains that the government’s takeover of Fannie Mae and Freddie Mac was not actually a bailout of the mortgage giants. It was a bailout of the financial derivatives industry, which was faced with a $1.4 trillion "event of default" that could have bankrupted Wall Street and much of the rest of the financial world.

    you can read it here. if your not dumb to read: http://www.globalresearch.ca/index.php?context=va&aid=10265

    Michael, your quite right
  • Paygo+Obama=Bad Joke
    Obama is tripling or quadrupling the deficit and NOW he says he wants paygo? How much are everyone's taxes going to have to go up to come anywhere achieving that? Whatever that percentage is, it will further crush the economy, which will lead to lower overall revenues to the Federal Government. If the liberals want the tax revenue for all this "free" stuff, they need to let the economy breathe. Paygo is, in principle, a great idea. Without huge spending cuts in everybody's favorite programs it can't happen.
    If someone can invent the "Wayback Machine" and get, say, President Eisenhower to ram a balanced budget amendment through, then we'll be in good shape.
  • Don, Doctor - Wall Street
    I am sure you are right, Don. But us taxpayers did bailout some of these firms that made bad business decisions and should have been allowed to fail. Doctor - We don't need more regulation on Wall Street, but strict enforcement of existing laws against fraud. Madoff is a perfect example of 'justice delayed is justice denied'. Madoff is in his 70s and will probably get a 'life' sentence. Big whoop. But wouldn't have been better if this scoundrel was caught 20 or 30 years ago; then a 50 year sentence would have meant something to him. Are there more Madoffs on Wall Street? I'm sure there are.
  • Easy to do
    When you've already committed us to trillions. And make conditions like "except for healthcare". It's just enough to keep his followers (ie worshippers) happy and able to point and say see he not so bad. Yeah right. Sad thing is they believe it. Despite what is happening all around them.
  • He will say anything
    Of course it’s a charade, as with everything this Kenyan God says. I’m sure their polling numbers show that people are worried about all the spending, so the propagandist administration quickly comes up with a few bumper sticker slogans to please the dumb masses, they fire up the teleprompters, have the Kenyan ba$tard read it, and all is well.
    To me, this guy is like a sociopath. After spending trillions in 2 months, how on earth can this idiot, with a straight face, talk about reigning in spending and fiscal responsibility? This is unbelievable! It’s like OJ saying he is looking for the killer. It’s like Brittany Spears saying virginity is the way to go. It’s like me saying that liberalism is an intelligent and ideal philosophy.
  • Goofy Left
    How do you explain that 2 trillion deficit? That is not borrowing? How about the growing multi-trillion deficits coming down the road?
    Then please tell us when we are supposed to get that promised tax-cut. No one has seen it yet. Do you live in some sort of parallel universe?
  • tshirt-dummy
    How does anyone on Wall Street loot anyone?? Wall Street has provided the capital for our businesses and our prosperity for the past 100 years. Without that capital what sort of agrarian economy do you suppose we might be living in? The way Big O is treating the bondholders it may get a lot harder to raise that capital which will certainly not help our economy recover.
  • fkaner@comcast.net
    Neal,
    Would you tell us all about your health insurance plans,mainly about how much you pay verses how much your employer pays.
    How much did your knee operation cost you out of pocket?
  • Birds of a feather
    Keeping his promise to have a honest admistration I understand Pamela Anderson will be appointed as the Modesty Czar for all things "Good and Holy". Unnamed sources in the White House also plan to announce Ted Kennedy as "Designated Drive Czar"

    Change we can believe in.
  • Tax and spend
    Gosh, that's MUCH worse than the sensible Republican policy of "borrow and spend," isn't it?

    The very notion of actually PAYING for our purchases instead of shoving the debt onto our kids and grandkids... appalling. Tsk, tsk.

    "The moochers are licking their chops"? Really? I don't see too many CEOs and directors cheering and raving about this program... and the "producers" are the ones who have already benefited from his middle-class tax cut. Why should they worry about increased taxes on the wealthy?

    Unless Neal has some bizarre, private definition of "moochers" and "producers," that is....
  • His lips are moving
    Where is the teleprompter. What ever he says, it's not the truth or his actual intention.
  • Pay-Go
    Dear President God,

    Tell you what: I'll pay if you go.
  • lofty schemes
    neal said "lofty schemes -- universal healthcare, increased spending on education, energy legislation, bailouts, stimulus spending"

    no where in there did i see the defense department. i guess our defense/nato welfare payments are the European entitlement program is off limits to you.
    i see that's one thing you agree with obama on. well, that's not the only thing. you're for war whether its pakistan, iran, or north korea.

    you said "The moochers are licking their chops, the looters are putting on their ski masks and the producers are looking for cover."
    the looters are wearing there $10,000 three-piece suits going to their offices on Wall Street.
    but their your heroes aren't they, neal? LINO
  • Words
    just words
  • In light of N Korea
    He has plenty of room to cut from the military...
  • Well, then again..
    It is OK to borrow for Health Care, according to PresBO....
  • Too little too late
    shoulda been following this principle from the beginning
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