February 28, 2009

Should We Support Obama's Budget?


I must admit that the budget submitted to congress by President Obama looks like my personal budget ... more money flows out than flows in. The difference is that I can't print money at my house.

That being said ... we elected President Obama because he had specific ideas and programs that he feels will change America in a positive way. I respect him for doing what he said he was going to do. He allows the Bush tax cut for the wealthy to expire. He provides a tax cut for 95% of working Americans. He makes large investment in health care reform and energy independance.

At the end of the day ... we elected President Obama to lead us out of our current economic crisis. He says that he needs this budget passed. My attitude is that we should trust him. We should give him the budget that he needs. Here is how he introduced the budget to America yesterday.




I encourage you to invite other villagers to watch this video. In the meantime, what are your thoughts on the federal budget proposed by President Obama?

9 comments:

SjP said...

When I made the decision to support Candidate Obama, I did so knowing full well that I did not agree with him on all of the issues being proposed. But, I believed then that he would surround himself with people who would give him sound advice, that he would listen to and weigh the advice given and then make the right decisions. I believed that in doing so that he would make the decisions that would be best for America and Americans. I also decided to support him because of the basic feeling that he couldn't screw things up any worst than Dubya. During the campaign, I like most of America learned that Candidate Obama was smarter than me.

So, how do I feel about President Obama's budget? I say give him what he asks for! I'm trusting him to do what is right. But, as Chris Rock says "good lawd! that's a lot of money". But, I ask - what is the impact of the alternative?

clnmike said...

The budget is sound in my opinion so long as Americans spend the money the right way, it is up to us to take advangate of the tax breaks, and savings and not hoard money under the mattress.

msladydeborah said...

Hotep Villager,

I believe that Preisdent Obama's budget plans are worth supporting. As long as the funds are used wisely and honestly. That is a key factor in my opinion. There has been considerable misuse of federal funds. With no real accountability for how tax money was spent.

I also believe that we are going to have exercise dilligence in the area of accountability for the money. That is going to be a critical area of support for his administration.

The GOP has not really provided any realistic alternative to Obama's plans. They have remixed their same old trickle down theories. But it is obvious that at this point in time-that is a moot theory.

At this point in our national story what is the real alternative? Do we continue to spiral downward and hope that at some point in time things turn around?

This is not a situation that was created overnight. It has been years in the making. I do not expect an instant fix to the problem. He has got to have tools available to work on repairing the damage done.

Aaron + Alaine said...

The president's budget should not be supported in its current form. Obama is proposing to spend 3 trillion dollars. The national debt itself is only 11 trillion. One problem with this budget is the fact that like the stimulus bill, Obama has outsourced its writing to Congress, so its full of spending that is dubious. Secondly, the budgets projections for revenue assume economic growth of 4% where most economists assume less. He's using assumptions for revenue that are not realistic. Lastly, I'm not a big fan of the cap and trade regime he wants to impose.

Other commenters have suggested that we should the support the budget as long as the money is spent wisely and honestly. Are you people kidding me? This is the government we are talking about.

I admire Obama for going big. Its a measure of his political ruthlessness that he clearly intends to press his advantage to ram through as much of his agenda as he can. But the budget is ginormous and has plenty in it to be critical of. I dig the brother, I voted for him, but not for him to be stupid or be a lousy president. As Eric Dyson said at the SOBU, we should hold Obama accountable. His budget is a very concrete opportunity to put that advice into practice.

Tariq Nelson said...

Like SjP, I supported Obama despite some of my disagreements with him. However I must admit that I am weary of some of the spending and tax increases (on natural gas, gasoline and heating oil)

I am also concerned that the environment created may discourage entrepreneurial spirit

Villager said...

Sojourner - I appreciate your comment. I am persuaded by the argument that America needs to have breakthrough advances in healthcare, energy and education. We haven't taken political action in these three areas at the national level in decades. This is a time in history when America needs to step up our game. I support Obama's efforts to step it up in those 3 areas while his popularity and influence are at their zenith. It is a lot of money ... but, if not now? when?

Mike - Good point. I think that each of us need to be responsible citizens. We need to live within our means; save; and spend for things that we need. I imagine that we should all file our tax return on a timely basis as well (sigh)...

Villager said...

Lady D - Have you had a chance to view the recovery.gov website? That effort at accountability and transparency by our federal government is unprecedented...

Aaron - Odd, how the Republicans, who brought us the 11 trillion dollar deficit, are now so righteous and arrogant about Obama's budget plans. It is a big budget because we (America) have big problems. The private sector is not in position to deal with the problems ... we need government intervention. Obama's emphasis on healthcare, energy independance and education makes sense to me...

jolieblonde7 said...

It is really amusing to see the same lawmakers who voted for every one of George Bush's out-of-control budgets complaining that President Obama is spending too much Federal dollars on such non-essential items as health care, education and clean energy! Whereas
Bush spent trillions on two pointless wars while at the same time cutting taxes for the rich.
As Obama said, spending now to reduce health care costs and developing clean energy means that down the road we will have real prosperity instead of the illusion of it.

Villager said...

Jolie - What is the point of winning landslide elections if you don't use that mandate from the people to enact the changes in health care, education and energy that you campaigned on.

I hope that Obama and the Democrats in House and Senate realize that they have solid majorities. Use them. Get this budget approved...