June 27, 2011

He Still Owns It
Obama Has Decided To Belatedly Step Into The Debt Talks, But His Past Efforts Have Come Up Woefully Short
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Obama Is Finally Stepping Directly Into Stalled Debt Talks By Meeting With Sens. Reid And McConnell Today. Stepping directly into stalled debt talks, President Barack Obama is inviting Senate Majority Leader Harry Reid and Republican leader Mitch McConnell to separate meetings Monday, shifting the negotiations to the highest levels. (Andrew Taylor, Obama Invites Top Senators For Debt Talks, The Associated Press, 6/24/11)

OBAMA SAID HE WOULD TAKE HIS TALENTS TO THE BUDGET BUT NOW THAT THE GAME IS ON THE LINE HE IS NOWHERE TO BE FOUND
Obamas Latest Budget Is So Vague That Its Meaningless THEN: In 2008, Obama Promised To Go Through The Budget Line By Line , Eliminating Programs That No Longer Work And Making The Ones We Do Need Work Better. But I will also go through the federal budget, line by line, eliminating programs that no longer work and making the ones we do need work better and cost less because we cannot meet twenty-first century challenges with a twentieth century bureaucracy. (Senator Barack Obama, Address Accepting The Presidential Nomination At The Democratic National Convention In Denver:
The American Promise, 8/28/08)

NOW: CBO Director Douglas Elmendorf Says Obamas Latest Budget Is Too Vague To Be Scored. REP. PAUL RYAN: The president gave a speech on April 13th, where he outlined a new budget framework that claims $4 trillion in deficit reduction over 12 years, have you estimated the budget impact of this framework? ELMENDORF: No, Mr. Chairman. We dont estimate speeches. We need much more specificity than was provided in that speech for us to do our analysis. (Committee On The Budget, U.S. House Of
Representatives, Hearing, 6/23/11)

Obama Promised To Get Serious About Reducing The Debt, He Hasnt THEN: In 2009, President Barack Obama Promised To Get Serious About Reducing Debt And Deficits. We've got to spend some money now to pull us out of this recession. But as soon as we're out of this recession, we've got to get serious about starting to live within our means, instead of leaving debt for our children and our grandchildren and our great-grandchildren. (President Barack Obama, Remarks By The President To Caterpillar
Employees ,East Peoria, IL, 2/12/09)

NOW: Since President Obama Took Office, The National Debt Has Increased By $3.7 Trillion. (Department
Of The Treasury, "The Debt To The Penny And Who Holds It," TreasuryDirect.gov, Accessed 6/24/11)

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Currently, The Total Debt Of The US Government Is $14.3 Trillion Dollars. (Department Of The Treasury,
"The Debt To The Penny And Who Holds It," TreasuryDirect.gov, Accessed 6/24/11)

Obamas FY2012 Budget Adds $13 Trillion In New Debt Through 2021. (Fiscal Year 2012 Budget Of The U.S.
Government, Office Of Management And Budget, 2/14/11)

Obama Promised To Cut The Deficit In Half, He Didnt THEN: In February 2009, Obama Said That He Would Cut The Deficit In Half By The End Of [His] First Term In Office. Yesterday, I held a fiscal summit where I pledged to cut the deficit in half by the end of my
first term in office.
(President Obama, Address to Joint Session of Congress, 2/24/09)

NOW: Obama Has Racked Up Three Record, Trillion Dollar Deficits. The federal budget deficit is on pace to break the $1 trillion mark for a third straight year. Record deficits are putting pressure on Congress and the Obama administration to come up with a plan to rein in government spending. Three years ago that would have ranked as the highest ever for a full year. Instead, this year's deficit will likely exceed last year's $1.29 trillion imbalance and nearly match the $1.41 trillion record reached in 2009. The budget year ends on Sept. 30. (Martin Crutsinger, Federal Budget Deficit On Pace To Break $ Trillion For Third Straight Year, The Associated Press, 6/10/11) The Federal Budget Deficit For FY2009 Was $1.42 Trillion, Then The Highest In U.S. History. (Monthly
Budget Review: Fiscal Year 2010, Congressional Budget Office, 10/7/10)

The Deficit This Year Is Slated To Reach A Historically High $1.65 Trillion. (Fiscal Year 2012 Budget Of The U.S. Government,
Office Of Management And Budget, 2/14/11)

The Deficit For FY2012, At The End Of Obamas First Term Is Expected To Be $1.1 Trillion. (Fiscal Year 2012
Budget Of The U.S. Government, Office Of Management And Budget, 2/14/11)

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