Stephanie
Diamond Member
- Jul 11, 2004
- 70,230
- 10,864
- 2,040
I guess that's called transforming us from that man who so cares about you.
snip:
Debt would reach $27.4 trillion in 10 years
A staff member delivers President Barack Obama's fiscal 2017 federal budget to the House Budget Committee Room. / AP
BY: Elizabeth Harrington
February 9, 2016 3:25 pm
President Barack Obama presented a budget to Congress on Tuesday that if enacted would add nearly $10 trillion to the national debt, according to the White Houseās projections.
The presidentās final budget, widely considered to be dead on arrival due to the Republican-controlled Congress, projects the nation would face a $27.4 trillion debt in 2026.
The budget set the actual total debt for 2015 at $18.1 trillion, projecting an increase of $9.3 trillion. When President Obama took office the debt stood at $10.6 trillion.
The White House budget for fiscal year 2017 includes old and new items of the presidentās agenda, including the āFair Share Taxā on the rich, known as the āBuffett Rule,ā and a new tax on oil that would increase taxes by $319 billion over 10 years.
The $4.1 trillion budget also includes raising the minimum wage, āfree community collegeā for two years, and the hiring of 200 new Bureau of Alcohol, Tobacco, Firearms, and Explosives special agents to āreduce gun violence.ā
Obama again included his āpreschool for allā initiative, which would cost $17.3 billion between 2017 and 2021, and total $66 billion over 10 years.
The budget claims it will āend family homelessnessā at a cost of $1.2 billion by 2022.
A move to āstandardize the definition for American Indians and Alaska Nativesā used in Obamacare would cost $30 million in 2017.
Providing āfull coverage of preventive health and tobacco cessation servicesā in Medicaid would cost $99 million in 2017 and $450 million by 2021.
Another budget item called āEnact RESPECT: Best Job in the Worldā would cost $50 million in 2017.
The budget also calls for a $12 billion increase in spending to have the government feed kids year-round.
āThe Budget invests $12 billion over 10 years to create a permanent Summer Electronic Benefits Transfer for Children program that would provide all families with children eligible for free and reduced-price school meals access to supplemental food benefits during the summer months,ā the Office of Management and Budget said.
Obamaās proposal includes a heavy dose of funding related to climate change, including $1.3 billion to āadvance the goals of the Global Climate Change Initiative (GCCI).ā
āThe challenge of climate change will define the contours of this century more dramatically than any other,ā Obama wrote in the introduction to his budget.
The funding includes $750 million for the āGreen Climate Fundā to fight climate change in third-world countries. Taxpayer funding would also go towards implementing the presidentās climate change plan for the United Nations summit in Paris last year.
The budget would also double spending on āclean energy researchā from $6.4 billion in 2016 to $12.8 billion in 2021.
Funding for the Department of Transportationās TIGER grants, many of which go to more bike paths, streetcar projects, and solar-paneled rest stops, would also nearly double.
The budget also increases taxes, with the creation of numerous new fees.
Aside from the āoil feeā of $10.25 per barrel, the budget would also impose a āfinancial feeā for large American firms.
āThe Budget would also impose a new fee on large, highly-leveraged financial institutions,ā the administration said. āSpecifically, the Budget would raise $111 billion over 10 years by imposing a seven basis point fee on the liabilities of large U.S. financial firmsāthe roughly 100 firms with assets over $50 billion.ā
Obamaās budget also introduces a Food Safety and Inspection Service fee; a biobased labeling fee; Grain Inspection, Packers, and Stockyards Administration fee ($30 million in 2017); an Animal Plant and Health Inspection Service fee ($20 million in 2017); and a Natural Resource and Conservation Service Conservation User fee.
Immigration inspection user fees would also be increased, as would custom user fees, which would raise $1.1 billion over 10 years.
The Environmental Protection Agency would begin collecting a āconfidential business information management fee,ā and the Federal Communications Commission would impose a spectrum licenses user fee to raise $4.8 billion over 10 years.
Cuts are down in the presidentās final budget, from $34.2 billion in 2016 to $28.8 billion.
The budget includes a $10 million cut to grants for the Department of Health and Human Services abstinence-only sex education programs and a $1 million reduction to the Department of Laborās āWomen in Apprenticeship and Nontraditional Occupationsā program.
all from the fairy Godfather here:
Obama Budget Would Add Another $9.3 Trillion to the Debt
snip:
Debt would reach $27.4 trillion in 10 years
A staff member delivers President Barack Obama's fiscal 2017 federal budget to the House Budget Committee Room. / AP
BY: Elizabeth Harrington
February 9, 2016 3:25 pm
President Barack Obama presented a budget to Congress on Tuesday that if enacted would add nearly $10 trillion to the national debt, according to the White Houseās projections.
The presidentās final budget, widely considered to be dead on arrival due to the Republican-controlled Congress, projects the nation would face a $27.4 trillion debt in 2026.
The budget set the actual total debt for 2015 at $18.1 trillion, projecting an increase of $9.3 trillion. When President Obama took office the debt stood at $10.6 trillion.
The White House budget for fiscal year 2017 includes old and new items of the presidentās agenda, including the āFair Share Taxā on the rich, known as the āBuffett Rule,ā and a new tax on oil that would increase taxes by $319 billion over 10 years.
The $4.1 trillion budget also includes raising the minimum wage, āfree community collegeā for two years, and the hiring of 200 new Bureau of Alcohol, Tobacco, Firearms, and Explosives special agents to āreduce gun violence.ā
Obama again included his āpreschool for allā initiative, which would cost $17.3 billion between 2017 and 2021, and total $66 billion over 10 years.
The budget claims it will āend family homelessnessā at a cost of $1.2 billion by 2022.
A move to āstandardize the definition for American Indians and Alaska Nativesā used in Obamacare would cost $30 million in 2017.
Providing āfull coverage of preventive health and tobacco cessation servicesā in Medicaid would cost $99 million in 2017 and $450 million by 2021.
Another budget item called āEnact RESPECT: Best Job in the Worldā would cost $50 million in 2017.
The budget also calls for a $12 billion increase in spending to have the government feed kids year-round.
āThe Budget invests $12 billion over 10 years to create a permanent Summer Electronic Benefits Transfer for Children program that would provide all families with children eligible for free and reduced-price school meals access to supplemental food benefits during the summer months,ā the Office of Management and Budget said.
Obamaās proposal includes a heavy dose of funding related to climate change, including $1.3 billion to āadvance the goals of the Global Climate Change Initiative (GCCI).ā
āThe challenge of climate change will define the contours of this century more dramatically than any other,ā Obama wrote in the introduction to his budget.
The funding includes $750 million for the āGreen Climate Fundā to fight climate change in third-world countries. Taxpayer funding would also go towards implementing the presidentās climate change plan for the United Nations summit in Paris last year.
The budget would also double spending on āclean energy researchā from $6.4 billion in 2016 to $12.8 billion in 2021.
Funding for the Department of Transportationās TIGER grants, many of which go to more bike paths, streetcar projects, and solar-paneled rest stops, would also nearly double.
The budget also increases taxes, with the creation of numerous new fees.
Aside from the āoil feeā of $10.25 per barrel, the budget would also impose a āfinancial feeā for large American firms.
āThe Budget would also impose a new fee on large, highly-leveraged financial institutions,ā the administration said. āSpecifically, the Budget would raise $111 billion over 10 years by imposing a seven basis point fee on the liabilities of large U.S. financial firmsāthe roughly 100 firms with assets over $50 billion.ā
Obamaās budget also introduces a Food Safety and Inspection Service fee; a biobased labeling fee; Grain Inspection, Packers, and Stockyards Administration fee ($30 million in 2017); an Animal Plant and Health Inspection Service fee ($20 million in 2017); and a Natural Resource and Conservation Service Conservation User fee.
Immigration inspection user fees would also be increased, as would custom user fees, which would raise $1.1 billion over 10 years.
The Environmental Protection Agency would begin collecting a āconfidential business information management fee,ā and the Federal Communications Commission would impose a spectrum licenses user fee to raise $4.8 billion over 10 years.
Cuts are down in the presidentās final budget, from $34.2 billion in 2016 to $28.8 billion.
The budget includes a $10 million cut to grants for the Department of Health and Human Services abstinence-only sex education programs and a $1 million reduction to the Department of Laborās āWomen in Apprenticeship and Nontraditional Occupationsā program.
all from the fairy Godfather here:
Obama Budget Would Add Another $9.3 Trillion to the Debt
