Restore earmark spending to pre-1994 levels (Comments)
"Barack Obama is committed to returning earmarks to less than $7.8 billion a year, the level they were at before 1994." — Obama's "The Change We Need In Washington"
Cut federal contract spending by at least 10 percent (Comments)
"Barack Obama will reform federal contracting and reduce the number of contractors, saving $40 billion a year." — Obama's "The Change We Need In Washington"
Improve contracting operations (Comments)
"Barack Obama will hire more contract managers and improve training." — Obama's "The Change We Need In Washington"
Cut waste in federal budget (Comments)
"I will also go through the federal budget, line by line, eliminating programs that no longer work and making the ones we do need work better and cost less…" — 8/28/08, Denver
Pay for job programs by cutting spending elsewhere (Comments)
"I'll pay for every part of this job-creation agenda by ending this war in Iraq that's costing us billions, closing tax loopholes for corporations, putting a price on carbon pollution, and ending George Bush's tax cuts for the wealthiest Americans." — 2/24/08, Lorain, Ohio
Reinstate pay-as-you-go budget rules (Comments)
"Obama will reinstate pay-as-you-go (PAYGO) budget rules, so that new spending or tax cuts are paid for by spending cuts or new revenue elsewhere." — Obama's Blueprint for Change
There are only three ways for a government to spend money it does not have: borrow, raise taxes, or simply print more money. President–Elect Barack Obama unveiled his trillion dollar economic stimulus package on January 8, the proposed American Recovery and Reinvestment Plan, which he hopes to sign in the early days of his administration.
Already facing a trillion dollar deficit in fiscal year 2009, the proposed stimulus plan would require the federal government to borrow one-third of its budget, approaching 10 percent of GDP. Trillion dollar deficits are not sustainable and could lead to future financial crises and runaway inflation. When the government spends money, it takes the money from the private sector. When government borrows money, it mortgages the future.
America is getting sticker shock from President Obama’s plan. Taxpayers are tired of bailouts and have no appetite for taking on two trillion dollars worth of debt in 2009. This recession was caused by market distorting government policy, and it can not be solved by government living beyond its means.
President Obama's projected deficit is frightening. Looking at the GDP previous to the Great Depression and during it, we see our country is parallel to that same situation. With expected deficit figures in the trillions, can we believe by government grants, government loans, and government borrowing, this will actually help our economy? I remember when the president assured us he would cut government spending by 10%, yet he has quadrupled the spending in the last six months! Normally I would look towards the future in anticipation of this ten percent decrease, yet the projections show no alternative to this spending lacking sufficient evidence it will ever decrease.
and Wang, have you not realized the significance of wording in media? or the addiction to discrediting authority?
This financial crisis was one of the most important problems because all the elements of the economy are affected negatively by this crisis. I still wait the end of recession. asigurare locuinta ieftina
It is all possible in good financial position of land, not for the crises season
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This recession was caused by market distorting government policy cash loans, and it can not be solved by government living beyond its means.
Normally I would look towards the future in anticipation of this ten percent decrease payday loans uk, yet the projections show no alternative to this spending lacking sufficient evidence it will ever decrease.
President–Elect Barack Obama unveiled his trillion dollar economic stimulus package on January 8, the proposed American Recovery and Reinvestment Plan to cash advance, which he hopes to sign in the early days of his administration.
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Just few days ago the European Union took some important, healthy measures in order to save the European Banks. We hope these measure will have good effects.
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