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Spending freeze melts

President Obama's call for a spending freeze around the time of the SOTU address was widely reported and discussed. It would appear to not have much substance, as the new budget to be proposed on Monday predicts a record $1.6 trillion deficit as part of a $3.8 trillion total package.

Congressional aides are preparing to slog through an expected $3.8 trillion in spending to be proposed by President Obama on Monday when his fiscal year 2011 budget is delivered to Capitol Hill.

The proposed budget predicts the national deficit will crest at a record-breaking $1.6 trillion in the current fiscal year, then start to recede in 2011 to $1.3 trillion, a congressional official said Sunday.

Still, the administration's new budget to be released Monday says deficits over the next decade will average 4.5 percent of the size of the economy, a level which economists say is dangerously high if not addressed, said the congressional official.

While discretionary spending is indeed frozen (with some exceptions), it amounts to such a small percentage of the total budget as to be almost unnoticeable.

Of course the real situation is likely worse. Estimates of deficits so far have been shattered and I have no reason to believe this next estimate isn't equally as conservative. Time will tell, but I can't imagine that overspending by a staggering $1,600,000,000,000 is going to play well with a majority of Americans as they collectively tighten their belts in tough economic times.


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Comments (17)

One earmark on this bill an... (Below threshold)
Marc:

One earmark on this bill and obama is toasty toast.

AND YOU KNOW THERE WILL BE, the ass clowns in clown city just can't help themselves and obama will trot out some lame excuse for signing it as he did with the last budget he signed.

"I can't imagine that overs... (Below threshold)
GarandFan:

"I can't imagine that overspending by a staggering $1,600,000,000,000 is going to play well with a majority of Americans."

Well, Barry just has to have his weekly get togethers with his pals and enjoy AF1; and Nancy really really needs those military aircraft to fly home on weekends.

The American public can just suck it up!

a record $1.6 trillion d... (Below threshold)
wolfwalker:

a record $1.6 trillion deficit as part of a $3.8 trillion total package.

To put that another way, almost half of the total budget is deficit spending.

How can any rational person support that?

4 days agao this lying sack... (Below threshold)
Justrand:

4 days agao this lying sack of shit said he was "concerned about the deficits". Then he proposes spending 42% MORE than the government brings in!

FORTY-TWO PERCENT of the money to be spend is BORROWED!!!

IMPEACH this son-of-a-bitch before he destroys our country completely!

Well, "discretionary" spend... (Below threshold)
Jim Addison:

Well, "discretionary" spending accounts for roughly 1/8 of the budget, or less than $500 billion. Remember, Obama isn't going to save the $500 bil, he's just going to "freeze" it so the usual annual increase isn't automatic. Of course, by the time he's through will all the special exemptions and the like, there will probably be about $36.5 million in "frozen" spending.

This crazy spending can't g... (Below threshold)
Wayne:

This crazy spending can't go on. In addition I concern that some hostile countries will perceive the U.S. as broke, weak and with a weak, incompetent President. They may decide this is a good time to act up.

Sorry for not proof reading... (Below threshold)
Wayne:

Sorry for not proof reading. My grammar is worst than normal.

Wolfwalker,Of course... (Below threshold)
Grace:

Wolfwalker,
Of course, no rational person could support this type of spending.
Unfortunately, there are three types of people right now:
1. Those of us jumping mad trying to wake up the masses.
2. Those who are still sleeping - paying attention to sports and stars; never politics.
3. Those who are waiting for more free stuff - those who don't worry about deficits, because they have been coddled by the government their whole lives.

I pray to God that the third catagory never overtakes the first two, but Obama and his ilk have been rearranging the deck chairs to make it that way as quickly as possible.

Grace:Unfortunately,... (Below threshold)
GarandFan:

Grace:
Unfortunately, Barry and Company are banking on all those people in group #3.

As Alex de Tocqueville noted, "The American Republic will endure until the day Congress discovers that it can bribe the public with the public's money."

Did you notice those late last year, collecting their "Obama Bucks" in Detroit? Only one woman knew where the money was coming from. Everyone else could care less, as long as they "got some".

"Time will tell, but I c... (Below threshold)
914:

"Time will tell, but I can't imagine that overspending by a staggering $1,600,000,000,000 is going to play well with a majority of Americans as they collectively tighten their belts in tough economic times."


Yes, but as everybody knows by now...Its all about the O

Grace "I pray to God ... (Below threshold)
Marc:

Grace "I pray to God that the third catagory never overtakes the first two, but Obama and his ilk have been rearranging the deck chairs to make it that way as quickly as possible."

Well, that's about spot on and fully behind why over the course of years those that don't pay income taxes grows... and grows.

Once more than fifty percent pay no taxes or get a rebate of some kind it makes it DAMN hard to get them back off the government teat.

My wife works for the feder... (Below threshold)

My wife works for the federal government and news of Obama's proposed spending freeze worried her, until I reminded her it was Obama who proposed it.

In his post #12, McGehee s... (Below threshold)

In his post #12, McGehee says his wife "works" for the federal government.

HaHaHaHaHaHaHaHaHaHaHaHaHa! HaHaHaHaHaHaHaHaHaHaHaHaHa! HaHaHaHaHaHaHaHaHaHaHaHaHa! HaHaHaHaHaHaHaHaHaHaHaHaHa! HaHaHaHaHaHaHaHaHaHaHaHaHa! HaHaHaHaHaHaHaHaHaHaHaHaHa! HaHaHaHaHaHaHaHaHaHaHaHaHa! HaHaHaHaHaHaHaHaHaHaHaHaHa! HaHaHaHaHaHaHaHaHaHaHaHaHa! HaHaHaHaHaHaHaHaHaHaHaHaHa! HaHaHaHaHaHaHaHaHaHaHaHaHa! HaHaHaHaHaHaHaHaHaHaHaHaHa!


Good one, McGehee!

Actually, she does. One of ... (Below threshold)

Actually, she does. One of the few.

Just like the old joke, exc... (Below threshold)

Just like the old joke, except "about half" is way too generous. ;-)

More and more I'm convinced... (Below threshold)
JLawson:

More and more I'm convinced that the folks inside the Beltway can't tell the difference between millions, billions, and trillions.

And what's worse is they believe WE can't either.

"Boy marxism is fun!!"... (Below threshold)
914:

"Boy marxism is fun!!"




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