Tag Archives: Deficit

News

Obama will ask for $1.2 trillion dollar increase in the debt limit

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Obama Economic Record November 2011
Obama Economic Record November 2011

From Reuters.

Excerpt:

The White House plans to ask Congress by the end of the week for an increase in the government’s debt ceiling… according to a senior Treasury Department official on Tuesday.

The approval is expected to go through without a challenge, given that Congress is in recess until later in January and the request is in line with an agreement to keep the U.S. government funded into 2013.

The debt is projected to fall within $100 billion of the current cap by December 30, when the United States has $82 billion in interest on its debt and payments such as Social Security coming due. President Barack Obama is expected to ask for authority to increase the borrowing limit by $1.2 trillion, part of the spending authority that was negotiated between Congress and the White House this summer.

[…]The debt limit currently stands at $15.194 trillion and would increase to $16.394 trillion with the request.

And yet some people apparently think that he is doing a good job with the economy.

Perhaps this story provides a clue about why things have gone so badly:

After an hour of hiking, President Obama Monday got down to the serious business at hand, heading out to golf for the second day in his first three days of vacation. He was back on the course at Marine Corps Base Hawaii.

With this one, Obama reaches a new milestone, having gone golfing 90 times in less than three years as president. That’s about three months of golf, given that the excursions generally take about five hours – much of the useful portion of the day.

What’s more, it’s the 32nd time he’s been on the links this year, a record for the president. His 32 outings eclipses the 2010 mark of 30 and is far ahead of his 2009 tally of 28 rounds as president.

And remember, there are still five days left in the year for Obama to pad his new record, which he almost certainly will.

Along for Monday’s round were three of Obama’s Hawaii friends, Mike Ramos, Greg Orme and Bobby Titcomb. The latter, you may remember, was arrested in April in a prostitution sting.

It’s the children who are going to be paying for Obama’s spending spree. Remember, the last Republican budget was in 2007 – and the deficit then was $160 billion. Then the Democrats took over the House and the Senate and the deficit rose dramatically and is not going down in the near future.

Videos

Barack Obama is the worst President ever

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Bill Whittle explains. (7 minutes)

This is not to mention his record on abortion – the most pro-abortion President ever. Or the election of hardline Muslim extremists in Egypt.

The man is a catastrophic failure.

News

Barack Obama’s Hawaiian vacation estimated to cost $4 million dollars

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Obama plans to hit the golf course at taxpayer expense
Obama plans to hit the golf course at taxpayer expense

From Hawaiian Reporter. (H/T Director Blue)

Excerpt:

The U.S. Secret Service has arrived, street barricades are in place, and the U.S. Coast Guard has stationed itself in the waters surrounding Kailua, Oahu.

That is a sure sign President Barack Obama’s security team is preparing for the first family to arrive in the small beachside community as early as Friday night for what is expected to be a 17-day vacation.

The President and his family are traveling separately to Hawaii because he wants resolve the payroll tax cut issue before leaving Washington – and his wife does not want to wait.

But the advanced trip and the cost that comes with it – as much as $100,000 (flight and security) – adds to an already expensive vacation for the taxpayers.

Hawaii Reporter research shows the total cost for the President’s visit for taxpayers far exceeded $1.5 million in 2010 – but is even more costly this year because he extended his vacation by three days and the cost for Air Force One travel has jumped since last assessed in 2000. In addition, Hawaii Reporter was able to obtain more specifics about the executive expenditures.

The total cost (based on what is known) for the 17-day vacation roundtrip vacation to Hawaii for the President, his family and staff has climbed to more than $4 million. Here’s why.

TRAVEL: $3,629,622

The biggest expense is President Barack Obama’s round trip flight to Hawaii via Air Force One, a cost the GAO office estimated at $1 million in the year 2000. Contacted today, the GAO confirmed there is no report the independent office affiliated with Congress has prepared since 2000 to operate Air Force One and Air Force Two.

However, the U.S. Air Force provides the most current numbers of $181,757 per flight hour. Travel time for Air Force One direct from Washington D.C. to Hawaii is about 9 hours or $1,635,813 each way for a total of $3,271,622 for the round trip to Hawaii and back.

The cost for USAF C-17 cargo aircraft that transports the Presidential limos, helicopters and other support equipment to Hawaii was not made available. However, the flight time between Andrews Air Force Base and Hawaii is at about 21.5 hours roundtrip, with estimated operating cost of $12,000 per hour. (Source: GAO report, updated by C-17 crew member). The United States Marine Corps provides a presidential helicopter, along with pilots and support crews for the test flights, which travel on another C-17 flight. That is $258,000, not including costs for the 4 to 6 member crew’s per diem and hotel.

Mrs. Obama’s early flight to Hawaii costs about $63,000 (White House Dossier), but add security and personnel for a total of about $100,000.

The rest of that article calculates the remaining components of the FOUR MILLION DOLLAR bill.

On another topic, here is a re-cap on our budget situation in 2012:

Barack Obama, Budget Deficit and Debt to GDP
Barack Obama, Budget Deficit and Debt to GDP

Remember, the Democrats took control of the House and Senate in January 2007, and that’s when the overspending started.

Why should we expect someone who can spend FOUR MILLION dollars on a vacation to have the discipline and frugality to balance the nation’s books?