Obama Budget Big on Big Spending & Big Government

The arrogance displayed by the current administration is astounding. Why is Obama so sure that he has all the answers? Good showman, no substance, very scary.

I wanted to hit a few areas and agree that government pensions need to be eliminated within 5 years because that fund will run out of money along with Social Security and Medicare over the long term unless change is made. Increase the age for Social Security benefits by 1 year for next 10 years because people are living and able to work longer. Government pensions need to be converted to 401Ks so there would be a HUGE change in motivation to "do the right thing" fiscally if the people of Congress had to depend on the stock market for their 401K like every other American. In the beginning, offer 100% matching contributions and then taper to 50% in 5 years or so for their 401K with 100% vesting in 1 year. There are some occupations that should keep their pensions like military servicemen, teachers, fireman, and police, but unfortunately it is necessary to increase the retirement requirement of 20 years by 1 year for the next 10 years as well. A 1 year increase every year to these programs would allow people to mentally prepare and accept the change.

The president seems to be asking for sacrifice from all Americans,that is everyone except public service employees,to which our taxes eventually go. They already enjoy far greater pension benefits and health benefits than most Americans. Ultimitely,the people paying their salaries should be considered their bosses,which in theory is us. Don't you think there should be some sacrifice offered by them?

Yessiree, nothing like a $1,000,000,000,000 tax hit to get the economy moving. NOT! All those "rich" folks will be buying less from the "working" folks (guess what happens then?), businesses and family farms will just plain quit or pass the hit along to their customers (guess what happens then ), more people will end up on the dole, and before long everyone will be totally dependent on the government. One more time: Obama is preparing the ground for a dictatorship.

Your interview with the congressman from Arizona about getting rid of property tax is revolutionary. I own a small business with a 3700 sq ft building here in Colorado and my real property taxes are $11,000 per year. That takes all of our potential profit just to pay it. If I could sell the building now, I would. Of course no one can buy because they can not get financing.

higher taxes, lower the deduction on the mortage interest credit, is this a bad movie? I earn more then 250k, but I also live in New York state one of the most expensive states in the U.S. where did Obama come up with that number 250k? I didn't go to school for six years to pay off Obama's spending and to fix all the problems in this country.

I don't mind the CFTC stuff. They have done a pretty good job during all of this. I hope the proposed CDS market is regulated by them because I at least think they know what they are doing. But giving more money to an incompetent agency like the SEC seems nuts. Why not get rid of them. Cox did nothing but turn his back to all the Ponzi schemes, and bent over every time FASB came up with a new idea. Shapiro, is now an SEC retread, never good for a car and not so good anywhere. And reducing the mortgage interest deduction. That's what we need now, less of an incentive to buy homes. Every idea is worse than the last.

Brian, I think you may be somewhat incorrect in your calculations....you said the average American making 500k would see his / her taxes increase almost 25k under the Obama plan. (ie, the tax rate goes from 35% to 39.6%) **However, federal taxes are graduated and this individual would only pay the higher tax on the incremental income he/she makes over and above 250k. So this number is actually $11,500 per year or $958 / week --- not 25k or 2k / month. Yours Truly, Work # 7, Socialist Society for America

I have worked hard for my money just to have someone actually take it away from me and give it to someone who doesn't work!?! What the h--l did the americans vote in to run thier country anyway....

have these guys considered the reality of bankruptcy?

Are you kidding us? What in the world is going on with this administration? We are projected to go $3.33 trillion in debt with no REAL plan to clear it. Uping taxes on the wealthiest and taking from medicare (in the name of universal health care which will never happen) will not even make a dent in it. When is someone going to step up and stop this stupidity?

Are these guys serious?! They claim to be for the people, but everything I see here will only raise the burden on the lowest and middle class earners. Who does he think is going to PAY for the higher gas taxes? It's the poor and middle class who are disproportionately charge for it. You can be rest assured the oil companies will pass that tax along. Head to www.americasnewteaparty.com and sign up for the San Francicsco march to Pelosi's office to protest these rediculous policies!