Obama’s Budget by the Numbers

Forget everything you hear from either party about deficit reduction.  They are all lies.  Everything is based off a bogus baseline.  It’s like saying you ‘saved’ money by buying something you didn’t need but used a coupon.  Whatever.  Also, deficit reduction is annual spend.  Our problem is our National Debt and the interest owed on it.  So, here are the facts.

according to Obama’s Budget – http://www.whitehouse.gov/sites/default/files/omb/budget/fy2014/assets/tables.pdf

Projected 2013 Federal Spending – $3.685T

Projected 2013Total  Taxes – $2.712T ;  Subset Personal Income Taxes – $1.234T

For a deficit of $973T.  Our National Debt is over $16T now.  It will cost us $225B to service the debt this year. 

Obama’s 2023 Budget

2023 Federal Spending – $5.660T

2023 Total Taxes – $5.220T ; Personal Income Taxes – $2.684T

For an annual Deficit of $439B.  Wow, “deficit” reduction. 

Spending will increase by $2T per year over the planning horizon.  $2T!!!  So how do you take annual deficits from $1T to $500B – RAISE TAXES.  Taxes will go up by $2.5T over that timeline. 

$2,500,000,000,000 in new taxes.  Per Year.  Growing from 15.8% of GDP to 20%. 

Oh, the National DEBT will grow to $25TRILLION costing us $750B per year in interest.

The AUDACITY of the President.  He who took our annual deficits from $400B to over $1T will claim deficit reduction by bringing them back down to $500B.  Despite taking our National Debt from $10T to $25T.  Spending is OUT OF CONTROL.  They only way to sustain it is to tax you like hell.  That’s his plan.  It is on paper.  Look it up.

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