CBO: Uhm, about Obama’s FY2015 budget proposal… it’s way more expensive than the White House claimed

posted at 8:01 pm on April 17, 2014 by Erika Johnsen

I mean… I suppose it was never really, truly meant to be a useful document that could serve as a bipartisan guide on honest-to-goodness, passable policy proposals, anyway — even the New York Times deemed the FY2015 budget blueprint Obama released in March little more than a “populist wish list.” That’s probably why, for the fifth time, the White House didn’t bother abiding by the statutory deadline and why the U.S. House voted it down by an impressive 413 to 2. And yet… I nevertheless find myself discomfited:

A report released Thursday by the nonpartisan Congressional Budget Office says President Barack Obama’s budget request would mean significantly larger budget deficits than the White House claims.

CBO says the budget plan proposed last month by Obama would produce deficits of $6.6 trillion over the next 10 years — $1.6 trillion more than the White House estimates.

The main reason is that the White House has a rosier estimate of the economy‘s performance over the decade than CBO. That means the administration predicts higher tax revenues. …

CBO also says Obama’s budget contains $1.4 trillion in tax increase over a decade, much more than claimed by the White House. A $456 billion chunk of that comes from higher revenues because of an influx of workers through immigration reform. CBO also notes that Obama’s budget contains $193 billion over a decade in new tax credits for the working poor that officially are counted as spending because they’re issued as refunds.

So, the White House informed us that the budget plan would cut deficits by $2.2 trillion over ten years, but the CBO insists that that number is actually only about $1 trillion — and that even that would be achieved by a whole lotta’ tax hikes, which in turn would have a punishing effect on our already bogged down economy. Perfect.


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And yet… I nevertheless find myself discomfited

Always remember…Liberal motto is “The end justifies the means”.

Doesn’t matter if the means if legal or illegal, right or wrong, good or evil. If it achieves a desired end, it’s acceptable.

Never be surprised by what they do.

lineholder on April 17, 2014 at 8:10 PM

I’m sure it was an honest mistake, that’s all. Besides, it’ll be totally worth it.

EA_MAN on April 17, 2014 at 8:11 PM

Woohoo. 18 TRILLION. I LOVE numbers as round as moochelle’s butt.

WryTrvllr on April 17, 2014 at 8:15 PM

We can’t trust any numbers coming from Dear Liar’s regime. Or words too. What’s left, emoticons?

rbj on April 17, 2014 at 8:17 PM

The bankrupting of America by the community agitator just keeps rolling along, surrounded by lies.

Whitey Ford on April 17, 2014 at 8:24 PM

Lying liar lies again.

forest on April 17, 2014 at 8:26 PM

We can’t trust any numbers coming from Dear Liar’s regime. Or words too. What’s left, emoticons?

rbj on April 17, 2014 at 8:17 PM

Not any different under the Bush regime, except that it completely excluded war costs from budget planning to even further obfuscate the true deficit numbers.

Woohoo. 18 TRILLION. I LOVE numbers as round as moochelle’s butt.

WryTrvllr on April 17, 2014 at 8:15 PM

Whenever the GOP is willing to negotiate spending cuts matched by some level of tax increases, the White House has been ready to talk. A grand bargain that significantly cut entitlement spending was on the table for over 2 years and nearly accepted by Boehne until the base shouted him down. The problem is, deficit reduction has never been the first priority of the GOP. Tax cuts have remained by far the driving concern, with a balanced budget the clear second. Let’s be honest about that.

bayam on April 17, 2014 at 8:27 PM

The bankrupting of America by the community agitator just keeps rolling along, surrounded by lies.

Whitey Ford on April 17, 2014 at 8:24 PM

he is just following the Road Bush laid out for him.
Bush made just shy of a trillion dollars the new benchmark for whether a bill is doable or not.
Enjoy the fruits of electing regressive democrat light (R) to office.

The most conservative aspect of Bush was his national security. Unfortunately for America he is was incompetent there as everywhere else.

astonerii on April 17, 2014 at 8:28 PM

bayam on April 17, 2014 at 8:27 PM

How can we be honest about something that is not anything close to true?

Cindy Munford on April 17, 2014 at 8:29 PM

Another day, another LIE from King Barack.

GarandFan on April 17, 2014 at 8:30 PM

Obama is so Awesome……..

Electrongod on April 17, 2014 at 8:33 PM

When do I faint……?

Electrongod on April 17, 2014 at 8:33 PM

Whenever the GOP is willing to negotiate spending cuts matched by some level of tax increases, the White House has been ready to talk.
bayam on April 17, 2014 at 8:27 PM

BWAHAHAHAHAHAHAAAAAAA!! You really are a miserable lying fvck, you know that?

Once again, for those new to the conversation:

At the very least, it’s about time this country returned to solid fiscal policies. Welcome back the Robert Rubin regime. Either Warren Buffet or Larry Summers will soon receive a call to start planning an economic turn-around and set this country on a new course.

The failure of supply side policies over the last 8 years has created a massive federal deficit and $10 trillion debt that the country must start to address. But it’s not going to be easy.

bayam on November 4, 2008 at 11:45 PM

Why don’t you shut your goddamned hole, because no one would seriously give you an ounce of credence. You’re simply a black jackwad pulling bullsh!t out of his ass.

Lanceman on April 17, 2014 at 8:34 PM

So, the Lillian Hellman White House has released the FY-2015 budget, and Surprise-Surprise, it’s all a lie, even the “and” and “the”.

Another Drew on April 17, 2014 at 8:40 PM

We can’t trust any numbers coming from Dear Liar’s regime. Or words too. What’s left, emoticons?
 
rbj on April 17, 2014 at 8:17 PM

 
Not any different under the Bush regime…
 
bayam on April 17, 2014 at 8:27 PM

 
And the Harding crowd was second only to Grover Cleveland’s.

rogerb on April 17, 2014 at 8:43 PM

Not even a smidgen of truth to anything perpetrated by the Democrat Party Criminal Conspiracy and it’s Dear Leader.

And not even a peep of a smidgen of protest by the supposed Opposition Party Emasculated Enablers

ShainS on April 17, 2014 at 8:44 PM

Oh bayam, you forget the memory of the internet is (how shall I put this?) ‘Extra Ordinary’.
Say it bayam, over and over again:
I am a tool of the Gimmedats.
I am a trool for the Gimmedats.
I am a stool of the Gimmedats.

Missilengr on April 17, 2014 at 8:45 PM

Whenever the GOP is willing to negotiate spending cuts matched by some level of tax increases, the White House has been ready to talk.

bayam on April 17, 2014 at 8:27 PM

You have any evidence of that, or do you expect people to accept your word?

malclave on April 17, 2014 at 8:46 PM

Unfortunately, the CBO is probably underestimating as well!

Vince on April 17, 2014 at 8:48 PM

bayam on April 17, 2014 at 8:27 PM

Why do you hate America??

Electrongod on April 17, 2014 at 8:49 PM

It’s just a continual flood of lies from these liars. The nation is drowning in a moral cesspool of liberal/humanist origin.

paul1149 on April 17, 2014 at 8:49 PM

he is just following the Road Bush laid out for him.
Bush made just shy of a trillion dollars the new benchmark for whether a bill is doable or not.
Enjoy the fruits of electing regressive democrat light (R) to office.

The most conservative aspect of Bush was his national security. Unfortunately for America he is was incompetent there as everywhere else.

astonerii on April 17, 2014 at 8:28 PM

What the heck is your point? I guess we need to elect…you?

Vince on April 17, 2014 at 8:51 PM

I’m old enough to remember when the CBO was not referred to as the nonpartisan Congressional Budget Office because the nonpartisan was assumed.

Happy Nomad on April 17, 2014 at 8:54 PM

You have any evidence of that, or do you expect people to accept your word?

malclave on April 17, 2014 at 8:46 PM

He has nothing other than black man gon’ show whitey how it done without that particular dialect. He’ll follow him into the depths of hell blaming W. simply and especially because obama has the same skin color.

Lanceman on April 17, 2014 at 8:55 PM

What the heck is your point? I guess we need to elect…you?

Vince on April 17, 2014 at 8:51 PM

No, the point is that if you are going to complain about Obama’s spending, then you should remember who set the stage for that spending. Bush and John McCain did with the passage of TARP.

If you want to complain about NSA overreach into Americans’ private lives, remember that it was Bush that initially ramped up all the domestic spying as well as created the TSA and the Department of Homeland Security.

The point is, learn from your mistakes and do not repeat them in future elections.

astonerii on April 17, 2014 at 9:00 PM

Credibility?

BuckeyeSam on April 17, 2014 at 9:05 PM

Bush that initially ramped up all the domestic spying as well as created the TSA and the Department of Homeland Security.

astonerii on April 17, 2014 at 9:00 PM

Don’t remind me. I remember the day he announced the HSA. My jaw was on the floor. All I could think of was this would be another union operation and another EPA/OSHA agency for the next ‘rat to terrorize the populace with. Probably his biggest mistake. Makes me wanna believe in conspiracies.

Lanceman on April 17, 2014 at 9:05 PM

Whenever the GOP is willing to negotiate spending cuts matched by some level of tax increases, the White House has been ready to talk. A grand bargain that significantly cut entitlement spending was on the table for over 2 years and nearly accepted by Boehne until the base shouted him down. The problem is, deficit reduction has never been the first priority of the GOP. Tax cuts have remained by far the driving concern, with a balanced budget the clear second. Let’s be honest about that.

bayam on April 17, 2014 at 8:27 PM

Let’s be clear about all the hidden taxes that never existed, but get raised with no hubbub. Gasoline, Tollways, Telephone, Energy. Be honest with yourself Bayam, the tax burden on the average American has NEVER been higher. Now the AMT hits what % of taxpayers?, but originally instituted for what, 5 people?

You know, calculus proves that, eventually, you do reach the far wall.

WryTrvllr on April 17, 2014 at 9:06 PM

For you oh honest one.

http://www.usgovernmentspending.com/us_20th_century_chart.html

Look at that third graph Bayam. We’re even beating WWI now.

WryTrvllr on April 17, 2014 at 9:10 PM

Oh and look, the graph ends at 2020.

Which means………

WryTrvllr on April 17, 2014 at 9:13 PM

Lanceman on April 17, 2014 at 9:05 PM

I voted for him TWICE.
Before the housing bubble and crash with the follow up TARP I was in the vote for the most conservative on the ballot box thing that V?-sport holds dear to his heart.
Now that I look back, Bush was the enabling force for almost everything that is wrong in the Obama administration. Obama being paramount.
Bush is still plurality blamed for the current economy! STILL! Enabling Obama to shirk responsibility and drive the economy down further.

astonerii on April 17, 2014 at 9:13 PM

astonerii on April 17, 2014 at 9:13 PM

You ain’t telling me anything I don’t know. I’m gonna go out on a limb and say that Bush misunderestimated the absolute vitriol and hatred for what the liberals believe to have been a stolen election. And now it’s payback time on the good citizens.

Lanceman on April 17, 2014 at 9:16 PM

It’s academic, really. The Senate (controlled by Democrats) will shoot down every budget the House sends up because it doesn’t spend enough on Utopia.

Boehner will wring his hands and whine that an umpteen billion dollar increase in spending on cloned chia pets, Holy Wind, Holy Sun, and two-minute hates on BB guns should be enough for anybody.

Then there will be a Continuing Resolution to spend more on “stimulus”.

The One, grinning because under the CR there’s no limit to what he can spend, heads for the back nine.

Wash, rinse, repeat.

I recommend we abolish the CBO. Under the new regime’, it’s no longer needed because the leadership is hallucinating new numbers 24/7/365.

When fantasy supersedes reality, there’s no point in trying to argue objective conditions, as Dilbert will tell you.

clear ether

eon

eon on April 17, 2014 at 9:38 PM

Bayam thinks our first priority is paying for however the hell much government wants to spend, via taxes, taxes, and more taxes.

Eff that. Cut spending first.

Bat Chain Puller on April 17, 2014 at 10:17 PM

A $456 billion chunk of that comes from higher revenues because of an influx of workers through immigration reform.

So the proggies really want us to believe that amnesty will bring a flood of jobs and workers that will be income tax-positive?

Really? Who is on White House shuttle duty between DC and Denver?

slickwillie2001 on April 17, 2014 at 10:36 PM

Does it come with drool stains?

Murphy9 on April 17, 2014 at 10:38 PM

A $456 billion chunk of that comes from higher revenues because of an influx of workers through immigration reform.

So the proggies really want us to believe that amnesty will bring a flood of jobs and workers that will be income tax-positive?

Really? Who is on White House shuttle duty between DC and Denver?

slickwillie2001 on April 17, 2014 at 10:36 PM

That’s what jumped out at me too. No one in their right mind could contend that legalizing millions of third world peasants will result in more tax revenue. Just the opposite, especially under President Pinocchio. The Earned Income Tax Credit alone will wind up costing the country twice what they are projecting as revenue.

SteveThomas on April 18, 2014 at 9:30 AM

My bad, that should read “taxpayers”, not “the country”.

SteveThomas on April 18, 2014 at 9:31 AM

Especially in light of King Prig’s “L’etat, c’est moi” attitude.

SteveThomas on April 18, 2014 at 9:33 AM

One way we could save money is to just not fund Presidential budget proposals. They are just a waste of effort and space on hard drives. I certainly hope no trees are killed to print these fantasies with no entertainment value.

thuja on April 18, 2014 at 12:14 PM

Now that I look back, Bush was the enabling force for almost everything that is wrong in the Obama administration. Obama being paramount.
Bush is still plurality blamed for the current economy! STILL! Enabling Obama to shirk responsibility and drive the economy down further.

astonerii on April 17, 2014 at 9:13 PM

The parallels with Hoover and FDR are amazing. Hoover’s progressive economics helped ease the way for FDR being able to introduce serious socialism into the economy.

thuja on April 18, 2014 at 12:19 PM