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$900 Billion (That's Billion with a B) New Spending

Some significant details to be ironed out. Any more questions?

Note: The Corner appears to be fubar... The link when to a post wondering if the crack speechwriting staff let through the understatement of the year...


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Comments (31)

Come now. Its a 'deficit n... (Below threshold)
RYan:

Come now. Its a 'deficit neutral' 900 billion.

It doesn't REALLY cost anything.

All those who believes the ... (Below threshold)
GarandFan:

All those who believes the bill will actually come in at $900 Billion AND be deficient neutral are planning on meeting down at the local pier. The meeting will be held in the phone booth.

$900 billion? It ... (Below threshold)

$900 billion?

It was $1.1 TRILLION a couple dys ago. Looks like they "saved or created" $200 billion!!

Fantasy Island meets Capital Hill.

It won't cost us anything b... (Below threshold)
jim m:

It won't cost us anything because Obama will just have the money printed. No taxes to raise in an election year. Of course the potential double digit inflation next year might be a problem, but inflation only hurts the little guy. Obama doesn't know any of them so he really doesn't care what happens to them.

We're in the same position ... (Below threshold)
JLawson:

We're in the same position as a guy making 30k a year suddenly getting a chance to buy a car he's always wanted that's been discounted $14500. Yeah, it's a great deal! How could he afford to pass it up?

Should he look at how much he's going to be 'saving', or should he look at how much it's going to cost him after taxes, tag, title and so on? Oh, and the salesman isn't showing him the ACTUAL cost - but it's discounted $14500! And the payments haven't been figured - but he can charge them!

How many people here would buy a car (used or new) under such conditions?

Why should we buy a medical bill that hasn't been written yet? That we don't really know what it'll contain - but we're continually told we can't afford NOT to buy this pig!

I'm thinking the more we're told we can't afford NOT to put our kids in hock for this - the more it should be clear that we can't afford it at ALL.

So they dropped $2 billion.... (Below threshold)
GarandFan:

So they dropped $2 billion. Barry suddenly found that there weren't actually 47 MILLION uninsured. Now the figure is magically 30 MILLION. What happened? WAS BARRY WRONG THE FIRST TIME? IF SO, WHAT ELSE HAS BARRY GOT WRONG?

And just like every other g... (Below threshold)
P. Bunyan:

And just like every other government program like this, $900 billion really means about a $50 trillion unfunded liability in a few years.

He's got everything wrong! ... (Below threshold)
kathie:

He's got everything wrong! If it weren't for Iraq, we could pay for middle class insurance, did he forget that we lost 3000 citizens on 911. Anyway, he will get the money from the defense budget. It will complete our destruction. The Commander in Chief trades defense for health care. Unbelievable. This guy, the president is a silent but deadly Van Jones or Rev. Wright, make no mistake about it.

Obama=liar(Hi, Googl... (Below threshold)
Dr. Carlo Lombardi:

Obama=liar
(Hi, Google)

All the TAliban needs is fr... (Below threshold)
RYan:

All the TAliban needs is free Obamacare and they woudl settle down!

I liked the line about "peo... (Below threshold)
GarandFan:

I liked the line about "people dying". Isn't this a repeat of what he said when pushing Porkulus thru the House last February? EMERGENCY! EMERGENCY! EMERGENCY!

In fact, its such an emerge... (Below threshold)
RYan:

In fact, its such an emergency that they have to PASS it now, but it won't take EFFECT until 2013.

Yep///////we all dying now.... (Below threshold)
Michael:

Yep///////we all dying now......the messiah said so........Can someone please tell him that not everybody is eating his brabo sierra tonight!!!!!!

The really sad/funny thing ... (Below threshold)
Morrissimo:

The really sad/funny thing about this is that our own national debt has us -- us, the US, the sovereign national entity -- by the short hairs.

The only reason China (and so far Japan -- keep an eye on that ball, the #2 largest buyer of USTs) is continuing to buy our debt is that they're fully awake to the prisoner paradox that they're caught in. Keep your ears to the ground on some magical IMF solution to offer SDRs as an "alternate" reserve currency -- of which China has already said it would buy some $50b of, right off the bat. (Note that that's $50b that they won't be spending on USTs -- that'll be a bitch of a month for grandma's Social Security check.) Once China can find a better dance partner, we'll be dumped unceremoniously in a folding chair by the punch table ...and the line of waiting buyers/suitors will re-evaluate our apparent desirability and correctly conclude that there's a new hottie in town.

At that point, you can kiss your USD value goodbye -- as well as every deficit-funded vote buying program (Social Security, Medicare, Medicaid, etc) in these here United States.

"A republic, if you can keep it." Yeah, well Bennie, about that -- we, ah, couldn't.

"Now the figure is magicall... (Below threshold)
John S:

"Now the figure is magically 30 MILLION..."

And 20 million of those are illegal aliens.

In addition to the low-ball... (Below threshold)
Shawn:

In addition to the low-ball amount of $900 billion, we have to remember his extra $634 billion "health care down payment" over the next 10 years which he signed with his first budget.

$900 Billion(That's nine hu... (Below threshold)
davidt:

$900 Billion(That's nine hundred thousand million dollars) New Spending.

Japan not been buying nay m... (Below threshold)
hcddbz:

Japan not been buying nay more Debt form the USA.
Seems they got PO when we let NK fire Missiles in there general direction.

The got 200 Billion reduction by the Launder list of new Taxes in the bill.

But see I have now seen the light.
"I like paying taxes. With them I buy civilization."
And I was just informed the fruits of our Labor is the Governments.
So just like Barry fathers dream we will have 100% taxation.
I will get free medical, a nice home, car and food all I have to give up is my Freedom
Sounds good?
Who wants to be Slave?

LIBERAL GENIUSES NEED AVERA... (Below threshold)

LIBERAL GENIUSES NEED AVERAGE JOE TRANSLATER
The Huffington Post reports:
The House Democrats' health care plan would cost just half of what President Bush's tax cuts cost the country, a report by left-leaning researchers says.
http://stopthepresses2.blogspot.com/search/label/liberalism

$900 Billion is less than t... (Below threshold)
Victory is Ours:

$900 Billion is less than the tax break Republicans gave the rich at the start of the Bush administration.

Of course those tax breaks for the rich created a healthy, trickle-down economy so us little folks could benefit.... by losing our jobs and our homes.

Health care for Americans who need it? Or tax breaks for the rich who don't need it?

The Republicans chose to protect the rich.

If you're lucky enough to still have a job you don't owe a thing to the Republicans, but if you lost your job or your home you can thank those Republican priorities.

Vic

Vic -There's one b... (Below threshold)
JLawson:

Vic -

There's one big difference between the tax breaks and the $900 billion.

With money actually LEFT in the economy, businesses can grow and profit and hire people - so more people can save their homes.

Taxes and government waste take money OUT of the economy.

I understand you view 'profit' about the same way that vampires view garlic and sunlight and werewolves view silver - but if it WEREN'T for 'profit' we wouldn't have a hell of a lot of things we take for granted, ranging from the internet and electricity down to running hot water in our houses.

You didn't get things where they are by just letting government do everything - there's no incentive to innovate and improve when there's only one supplier of any particular consumer item or service.

So take your class warfare crap, fold it tightly, and shove it up your ass.

It's becoming very, very clear - Dems love poor people and they do everything they can to make sure there's plenty of them, while keeping all the NICE stuff for themselves. Or do you see Rangel as an abberation?

"With money actually LEF... (Below threshold)
Victory is Ours:

"With money actually LEFT in the economy, businesses can grow and profit and hire people - so more people can save their homes."

The facts betray you.

With the Bush/Republican tax cuts for the wealthy the rich got richer and the rest of us got the worst recession since the depression.

Vic

1. Tax cut affected everyon... (Below threshold)
hcddbz:

1. Tax cut affected everyone with the Lucky Duckies being the Rich which received a Went from 39.6 to 35% and the poor who rate went from 15% to 10%.
Which along with the fact that often get a full refund in taxes means that they pay not taxes. Except for FICA.

Now what happen during the Bush years? Revenue increased to the Government.

What caused problems, Fighting two wars a constitutional use of funds, The Prescription Drug program (which the DEMS complained we did not go far enough) unconstitutional , The Bipartisan No Child Left Behind unconstitutional, Medicare spending increased, Social security increased. Creation of the DHS at the instance of the Dems in congress, We unionizes and made federal employees of the Baggage screeners also a deem issue.

The Truth is that GW and congress were not conservative when it came to spending. However , it been proven that it would have been Much worst under Dems. What took Bush and RHINO 8 years (with last two years of congress being dem controlled) 6 months to exceed,

Keep drinking the kool aid ... (Below threshold)
GarandFan:

Keep drinking the kool aid VIC. Keep believing that government CREATES jobs. That government CREATES wealth.

HUNDREDS OF DOLLARS,THOUSAN... (Below threshold)
Flu-Bird:

HUNDREDS OF DOLLARS,THOUSANDS OF DOLLARS,MILLIONS AND BILLIONS AND TRILLIONS OF DOLLARS all for slopping the hawgs in their styes in WASHINGTON D.C.

GarandFan: the government c... (Below threshold)
hyperbolist:

GarandFan: the government created an awful lot of jobs and wealth during the two World Wars.

There's but one example. Anything related to infrastructure, defense, and police/fire services would others.

Which begs the question: are you lying? Or are you really that misinformed about the nature of government?

Hyper -You keep mi... (Below threshold)
JLawson:

Hyper -

You keep missing the fact that government had to go into hock to fund WW1 and WW2. War bonds were sold, a promise to (if we won) pay back the money with interest.

I realize that actually repaying debt seems to be a complete unknown to contemporary governmental financiers, but at one time it was quite the norm...

They even made the war bond... (Below threshold)
JLawson:

They even made the war bond sales something of a spectacle...

http://commons.wikimedia.org/wiki/File:Eaton's_War_Bonds_Rally_1943.jpg

Those wacky Canadians!

GarandFan: the government c... (Below threshold)
GarandFan:

GarandFan: the government created an awful lot of jobs and wealth during the two World Wars.

Are you that dense? How many boats did 'government' build? How many planes? How many tanks? 'Government' built nothing!
There was a RECESSION at the end of WWII BECAUSE OF THE GOVERNMENT SPENDING.

The government went into hock to finance the war. At the end, all that WEALTH poured into the military gained only one thing: DESTRUCTION. In the South Pacific, at the end of the war; planes, tanks and trucks were driven off the end of aircraft carriers and into the ocean. At home, war planes were flown to Arizona were they were sold as scrap for pennies on the dollar. Ships were mothballed. They weren't used to transport goods (wealth) in trade around the world. Again, they were ultimately sold as scrap.
The government spends $5,000 on a bomb that blows a hole in the ground. WHERE IS THE WEALTH? WHERE IS THE CONTINUED GENERATION OF PRODUCT FOR SALE?

Oh, and hyper, to add to yo... (Below threshold)
GarandFan:

Oh, and hyper, to add to your fund of miscellaneous knowledge, the Winchester Firearms Company almost went bankrupt at the end of WWI.

So the government can assum... (Below threshold)
hyperbolist:

So the government can assume no responsibility for the genesis of a dominant middle class in the late 1940s and early 1950s? That was all private industry, right? Nothing to do with government actions, and nothing to do with joining WW II.

GarandFan, I'm aware that after a conflict like that, industrial production can only plummet. However, the two World Wars were the greatest things that ever happened to the United States in terms of international clout and stature, and that is due wholly to the government's decision to join conflicts that were not really necessary to join, from an economic standpoint.




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