A New Era of Responsibility
The 2011 Budget
Rather than fight the same tired battles that have dominated Washington for decades, it’s time to try something new. Let’s invest in our people without leaving them a mountain of debt.(Emphasis mine) Let’s meet our responsibility to the citizens who sent us here. Let’s try common sense.
– President Barack Obama
What a chuckle, considering the Democrats have decided punt the decision till after the midterms. Of course the president himself decided to pass the tough choices off to a deficit commission as a means of political cover. Anyway you will be happy to know the President steered us away from a depression and you to can see how much he has done for your state! Oh and by the way last years predictions turned out be farcical. On the bright side I consider this another data point that the tea parties had an impact. Consider this was on the OMB site last year:
A NEW ERA OF
RESPONSIBILITY
the 2010 Budget
"A budget is more than simply numbers on a page. It is a measure of how well we are living up to our obligations to ourselves and one another."(Emphasis Mine)
– President Barack Obama
A subtle change compared to 2011 in which obligations to others has now been coupled with warnings about debt. Anyway, here are some charts to help the President understand mountains of Debt:
Total Deficit or Surplus (Percentage of GDP)
Debt Held by the Public, 1965 to 2019 (Percentage of GDP)
And lets not forget Obama's big savings push last year:
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