10.19.2012
Instant Analysis of Obama’s 2013 Spending Plan
original article written by Net Advisor™
So we have heard all about the Fiscal Cliff. Now we hear Obama’s $1.22 Trillion spending plan that is supposed to save us money.
1. “Chained CPI” – Have no clue what that is. All we know is that we are spending $130 Billion on it.
2. “Health Savings” – Obama wants to spend $400 Billion to save money on health care?
3. “Non-Health Savings” – So we are going to spend $200 Billion on things that don’t have to do with health care. So what are we spending money on then?
4. “Additional Discretionary Cuts” – We are going to spend $200 Billion in order to save money on discretionary spending?
5. “Interest Savings” – The plan here is to spend $290 Billion so we can save interest. Wouldn’t it be better to not spend $290 Billion and save that for the interest expense?
All of this adds up to $1.22 Trillion that Obama wants to spend in 2013. This sounds a lot like the rhetoric we have heard especially over the last 2-4 years.
Keep in mind that all of this stimulus created ZERO net new jobs, and drove true unemployment higher over the last four years.
All of this talk about deficit cutting, financial reform of government, etc., led to an INCREASE of the deficit by over $6 Trillion.
It seems that the solution to all our debt problems is to spend more and create more debt?
__________________________________________________________________________
Graphic Credit: CNBC, 12-18-2012
original content copyright © 2012 NetAdvisor.org® All Rights Reserved.
NetAdvisor.org® is a non-profit organization providing public education and analysis primarily on the U.S. financial markets, personal finance and analysis with a transparent look into U.S. public policy. We also perform and report on financial investigations to help protect the public interest. Read More.
__________________________________________________________________________
