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Budget Buster

- February 8, 2016

Obama Looks To Cement His Legacy Of Failure By Presenting Another "Radical" Budget That Raises Taxes, Increases The National Debt And Attempts To Set The Stage For Four More Years Of The Clinton-Obama Failed Policies

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TOP TAKEAWAYS

  • Today, Obama will release an "aggressively liberal" budget proposal, the final one of his administration.
  • Obama's "radical" budget has Clinton's fingerprints all over it, featuring both a plethora of similar spending increases and new taxes.
  • Clinton would maintain the same failed policies of the Obama administration, which have led to exploding debt, declining incomes and an increasing number of Americans in poverty.

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Today, Obama Is Expected To Release His 2017 Fiscal Year Budget, The Final Budget Proposal Of His Administration. "President Obama is expected to release his final budget plan on Tuesday, but Republicans on Capitol Hill are indicating that they won't give it much thought." (David Henry, "Week Ahead: Obama Budget To Tout Green Priorities," The Hill, 2/8/16)

Embracing His Lame Duck Status, Obama's Final Budget Proposal Will Be "Aggressively Liberal." "President Barack Obama may be a lame duck, but his aggressively liberal final budget request coming Tuesday will show he's far from a mute one." (Timothy Noah, "Obama's Radical Final Budget," Politico, 2/8/16)

  • Politico Headline: "Obama's Radical Final Budget." (Timothy Noah, "Obama's Radical Final Budget," Politico, 2/8/16)

OBAMA'S 2017 "AGGRESSIVELY LIBERAL" BUDGET HAS CLINTON'S FINGER PRINTS ALL OVER IT

Obama's Budget = Clinton's Big Spending Wish List

Like Clinton, Obama Wants To Spend Billions On Renewable Energy Research, Despite The Plethora Of Failed Projects During The Administration. "Obama will seek a 20-percent boost for renewable energy research funding to a total of $7.7 billion." (Roberta Rampton, Ayesha Rascoe and Jeff Mason, Factbox: What Will Be In Obama's Final Budget Proposal," Reuters, 2/8/16)

  • Clinton Has Proposed $60 Billion In New Spending On Renewable Energy Related Programs. "The plan's estimated cost is about $60 billion over 10 years, and would be paid for by eliminating tax breaks for the oil and gas industry, Clinton spokesman Brian Fallon said." (Thoman Beaumont, "In Iowa, Clinton Says Climate Plan Will Promote Renewables," Associated Press , 7/27/15)

Like Clinton, Obama Is Calling For Billions In Incentives For Corporate Hiring And Job Training Programs, To Counteract Sluggish Economic Growth. " The White House will ask for $5.5 billion in incentives for businesses that hire young people and $200 million for apprenticeship programs." (Roberta Rampton, Ayesha Rascoe and Jeff Mason, Factbox: What Will Be In Obama's Final Budget Proposal," Reuters, 2/8/16)

  • Clinton Has Proposed A Hiring Program That Would Provide Companies A Tax Credit For Every Apprentice Hired. "The proposal would put forward a tax credit for businesses of $1,500 per apprentice and would insist on accountability for employment and earnings outcomes for programs receiving the credit. Clinton also said that businesses should receive a bonus on that tax credit for providing opportunities specifically for young people." (Press Release, "Workforce and Skills Agenda," The Briefing, Accessed 7/13/15)

Like Clinton, Obama Is Proposing New Programs For Struggling Coal Communities Devastated By Left-Wing Energy Policies. "The budget will include $1 billion over five years to help coal-mining regions with economic development." (Roberta Rampton, Ayesha Rascoe and Jeff Mason, Factbox: What Will Be In Obama's Final Budget Proposal," Reuters, 2/8/16)

  • Clinton Has Proposed $30 Billion In New Spending For Programs That Help Communities Struggling "From The Decline Of The Coal Industry." "Presidential hopeful Hillary Clinton outlined a $30 billion plan Thursday to help parts of the country recover from the decline of the coal industry." (Timothy Cama, "Clinton Releases $30B Plan For Coal Country,"The Hill, 11/12/15)

Obama's Budget = Clinton's Plan For Higher Taxes

Clinton Has Promised Americans New Taxes And Rate Increases. " That's where I think our greatest need is right now. But Senator Sanders and his campaign have said they're going to roll out how he would pay for all of this before the caucus in Iowa and I for one will be eager to see it, because I have been laying out how I will pay for everything." (Hillary Clinton, Remarks At Iowa State University, Ames, IA, 1/12/16)

Obama's Budget Proposal Features Multiple Growth-Stumping "Tax Increases." "The 2017 budget for the fiscal year beginning Oct. 1 will combine proposals for new spending on infrastructure, education and combating opioid abuse with tax increases on corporations and wealthy individuals to keep deficits down. This will avoid proposing cuts to popular programs like Medicare, student loans or food stamps." ("Timing Is Everything: Obama's Budget Same Day As NH Primary," The Associated Press, 2/8/16)

Clinton Has Promised To Offset Her $1.2 Trillion In New Spending With New Taxes And Rate Increases. " That's where I think our greatest need is right now. But Senator Sanders and his campaign have said they're going to roll out how he would pay for all of this before the caucus in Iowa and I for one will be eager to see it, because I have been laying out how I will pay for everything." (Hillary Clinton, Remarks At Iowa State University, Ames, IA, 1/12/16)

Obama's Tax Increases Feature A $10-A-Barrel Tax On Crude Oil, Anticipated To Raise $20 Billion. "In a long-shot bid to raise $20 billion to expand transit systems and research self-driving cars, Obama will propose a $10-a-barrel tax on crude oil." (Roberta Rampton, Ayesha Rascoe and Jeff Mason, Factbox: What Will Be In Obama's Final Budget Proposal," Reuters, 2/8/16)

  • Speaking Of His Proposed Gas Tax, Obama Has Said "It's Right To Do It," Claiming It Is "Not Going To Be A Disruptive Factor In Terms Of The Economy." Obama defended the proposal on Friday, saying with gas prices as low as they are, now is the time to raise money through a new tax on oil. 'It's right to do it now, when gas prices are really low,' Obama said. 'And they will be low for quite some time to come, so it's not going to be a disruptive factor in terms of the economy.'" (David Henry, "Week Ahead: Obama Budget To Tout Green Priorities," The Hill, 2/8/16)

"It's Not Surprising" Clinton's Policy Ideas Are So Closely Tied To Obama's Budget

"It's Not Surprising That Two Democrats Agree On Many Issues, But The Overlap Between [Clinton And Obama] Is Striking." "It's not surprising that two Democrats agree on many issues, but the overlap between the pair is striking. The similarity likely illustrates an awareness from Clinton that distancing herself from Obama would not help her in the Democrat primary. It also reflects the deep connections between Obama's team and Clinton's." (Perry Bacon Jr., "Why Hillary Clinton's Ideas Are So Similar To Obama's," NBC News, 8/15/15)

  • "If You're Trying To Figure Out Hillary Clinton's Position On A Key Issue, Often There's An Easy Way To Know: It's Usually The Same As President Barack Obama's." (Perry Bacon Jr., "Why Hillary Clinton's Ideas Are So Similar To Obama's," NBC News, 8/15/15)

"The Full-Throated Support By Clinton For Many Of Obama's Policies Also Illustrates The Similarities In Ideology Between The Two." "The full-throated support by Clinton for many of Obama's policies also illustrates the similarities in ideology between the two. That was clear even in 2008, when they had a bitter primary campaign against one another but largely agreed on most major policy issues." (Perry Bacon Jr., "Why Hillary Clinton's Ideas Are So Similar To Obama's," NBC News, 8/15/15)

OBAMA'S BUDGET WOULD EXPAND UPON THE DETERIORATING CLINTON-OBAMA ECONOMY WHILE DOING NOTHING TO TACKLE THE NATION'S CRUSHING DEBT

Despite Calling For New Taxes, Obama Will Ignore Much Needed Debt And Deficit Reduction

Despite Proposing New Taxes, Obama's New Revenues Will "Not Go Toward Deficit Reduction." "The revenues would go not toward deficit reduction, but toward more green forms of transportation such as subways, buses and light rail." (Timothy Noah, "Obama's Radical Final Budget," Politico, 2/8/16)

The Current Level Of Total Public Outstanding Debt Has Surpassed $19 Trillion. (U.S. Treasury Department, Accessed 2/1/16)

  • Since Obama Became President, The National Debt Has Increased By Over $8.3 Trillion. (U.S. Treasury Department, Accessed 2/1/16)

Obama's Budget Will Ignore The Declining Incomes Americans Face Under The Clinton-Obama Economy

Middle-Income American Families "Make Substantially Less Money" In Inflation Adjusted Terms Than Years Ago And "There Is No Evidence That Is Reversing." "A middle-income American family, in other words, makes substantially less money in inflation-adjusted terms than it did 15 years ago. And there is no evidence that is reversing." (Neil Irwin, "Why Americans Still Think The Economy Is Terrible," The New York Times, 9/16/15)

During The Obama Administration, Median Household Income Has Fallen $1,656, From $55,313 In 2008 To $53,657 In 2014. (Census, Accessed 9/16/15)

  • The Median Household Income In The U.S. Fell $805, Or 1.5 Percent, From $54,462 In 2013 To $53,657 In 2014. (Census, Accessed 9/16/15)

Obama's Budget Will Do Nothing Long-Term To Solve The Rise In Poverty

About 46.7 Million Americans Were Living In Poverty Last Year. "Around 14.8% of Americans, or 46.7 million individuals, were living in poverty last year, unchanged from 2013." (Nick Timiraos, "U.S. Income Edged Lower In 2014," The Wall Street Journal, 9/16/15)

The Poverty Rate Has Increased By 1.6 Percentage Points Under Obama, From 13.2 Percent In 2008 To 14.8 Percent In 2014. (Census, Accessed 9/16/15)

  • Poverty Rate Stayed At 14.8 Percent From 2013 To 2014. (Census, Accessed 9/16/15)

The Black Poverty Rate Increased By 1.5 Percentage Points Under Obama, From 24.7 In 2008 To 26.2 Percent In 2014. (Census, Accessed 9/16/15)

  • Black Poverty Increased By 1 Percentage Point, From 25.2 Percent In 2013 To 26.2 Percent In 2014. (Census, Accessed 9/16/15)

STAYING WITH TRADITION, OBAMA'S "DEAD ON ARRIVAL" BUDGET HAS "NO CHANCE" OF PASSING

Throughout Obama's Tenure His Proposed Budgets Are "Traditionally Declared Dead On Arrival," While This Year His Final Budget Proposal Is "Just Dead." "The president's budget is traditionally declared dead on arrival on Capitol Hill. This year, President Obama's final budget proposal is just dead." (Carl Hulse, "Congress Declines To Hear Obama's Budget Proposal In Person," The New York Times , 2/8/16)

Using The Cliché 'Dead On Arrival' For Obama's Budget Proposal Has "Never Been Truer." "Hate the cliche, tagged onto the budget of virtually every president, but it has never been truer. In fact, House Speaker Paul Ryan, R-Wis., declared Obama's $10 per barrel of oil tax dead on arrival." ("Timing Is Everything: Obama's Budget Same Day As NH Primary," The Associated Press, 2/8/16)

  • "The Likelihood Of Legislative Action On Any Of These Agenda Items Is Virtually Nil." The likelihood of legislative action on any of these agenda items is virtually nil. Still, observes Rutgers historian David Greenberg, author of a new book about presidential spin: 'No one wants to admit that the last year will be an uneventful one.'" (Timothy Noah, "Obama's Radical Final Budget," Politico, 2/8/16)

Understanding The Likelihood His Budget Is "Legislatively Irrelevant," Obama Is Using His Budget To Push His Predecessor To The Left

Peter Orszag, A Former Obama White House Budget Director, Said Obama's Budget Is Primarily To Lay "The Groundwork For Democrats To Refine And Embrace A More Ambitious Legislative Agenda Over Time." "'If the document is legislatively irrelevant,' Orszag said, 'you might as well use it to expand the policy dialogue and lay out sensible proposals even if they will not become law this year or next.' This year's budget proposal 'lays the groundwork for Democrats to refine and embrace a more ambitious legislative agenda over time.'" (Timothy Noah, "Obama's Radical Final Budget," Politico, 2/8/16)

  • Obama's Final Budget Proposal Represents A "Go-For-Broke Strategy," Intended To "Expand The Policy Dialogue." "Given Congress' sight-unseen dismissal, the president's go-for-broke strategy makes sense, said Peter Orszag, who was White House budget director during Obama's first term and director of the Congressional Budget Office before that. 'If the document is legislatively irrelevant,' Orszag said, 'you might as well use it to expand the policy dialogue and lay out sensible proposals even if they will not become law this year or next.'" (Timothy Noah, "Obama's Radical Final Budget," Politico, 2/8/16)

Obama's Curious Timing For The Budget Release, May Be To Ensure The Budget's Irrelevance "Gets Minimal Attention With All The Focus On White House Contenders"

The New York Times Headline: "Timing Is Everything: Obama's Budget Same Day As NH Primary." ("Timing Is Everything: Obama's Budget Same Day As NH Primary," The Associated Press, 2/8/16)

Obama's Budget Release Is "Ensuring It Gets Minimal Attention With All The Focus On White House Contenders." "The main thing to know about President Barack Obama's final, $4 trillion budget is that it comes on the same day as the New Hampshire primary, ensuring it gets minimal attention with all the focus on the White House contenders." ("Timing Is Everything: Obama's Budget Same Day As NH Primary," The Associated Press, 2/8/16)

Obama's Failure To Get His Budget Passed, Especially Among Members Of His Own Party, Has Been A Long-Standing Obama Tradition

Congress Never Voted On Obama's FY 2016 Budget Proposal. (Lisa Mascaro, "Congress' Republicans Pass Budget, But That's The Easy Part: Showdowns Loom," Los Angeles Times¸ 5/5/15)

Only 2 House Democrats Voted In Support Of Obama's FY 2015 Budget. (H. Con. Res. 96, Roll Call Vote #171, Failed 2-413: R 0-226: D 2-189: 4/9/14)

35 House Democrats Voted Against The Senate Democrat FY 2014 Budget Proposal. (H. Con. Res. 25, Roll Call Vote #83, Failed 154-261: R 0-226: D 154-35: 3/20/13)

4 Senate Democrats Voted Against The Senate Democrat FY 2014 Budget Proposal. (S. Con. Res. 8, Roll Call Vote #92, Passed 50-49: R 0-45: D 49-4: I 1-0: 3/23/13)

The Democrat Senate Unanimously Rejected Obama's FY 2013 Budget . ( S. Con. Res. 41, Roll Call Vote #97 : Rejected 0-99: R 0-46; D 0-51; I 0-2, 5/16/12)

The Democrat Senate Unanimously Rejected Obama's FY 2012 Budget. ( S. Con. Res. 18, Vote #78 : Rejected 0-97: R 0-45; D 0-50; I 0-2, 5/25/11)

Despite Receiving Budget Proposals From Obama For Both FY 2010 And FY 2011, The Democrat Controlled Congress Never Passed A Budget Either Year. "Roemer erred in saying Obama had not submitted a budget. In fact, he's submitted three. But there is some truth on the second part of his statement. Congress didn't pass either a budget resolution or a spending bill in 2009 and 2010. A last minute spending bill finally passed in April 2011 under the threat of a government shutdown." (Gregory Trotter, "Roemer Faults Obama And Congress On Budgets," PolitiFact, 8/5/11)


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