Obama FY2010 Budget

Spending Restraint? (in Billions of Dollars) (in Billions of Dollars) Obama FY2010 Budget 5,500 5 500 5,000 4,500 4,000 3,500 3,000 3 000 2,500 2,000 1,500 1,000 500 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Expanding the Size of Government (Government Spending as Percentage of GDP) (Government Spending as Percentage of GDP) 31 Historical Average g Obama Administration FY2010 Budget g 29 27 25 23 21 19 17 15

President s FY2010 Tax Increases President’s FY2010 Tax Increases Other $149 Billion Cap and Trade $646 Billion $1,431,000,000,000 $1 431 000 000 000 Small Business and Investors $636 Billion $636 Billion

Tax Cuts for 95% of Americans? Tax Cuts for 95% of Americans? Make Work Pay Tax Credit = ‐$800 Impact of Cap and Trade* = +$1,600 Net Tax Increase per Family = +$800 * CBO Estimate

Deficit Under Democratic Budgets (Deficit Levels in Billions of Dollars) (Deficit Levels in Billions of Dollars) 2,000 Republican Budgets Democratic Budgets 1,800 1 800 1,600 1,400 $ Billion n 1,200 1,000 800 600 400 200 0 OMB Estimate

Doubling the Debt Held by the Public (in Billions of Dollars) (in Billions of Dollars) 16,000 14,000 14 000 12,000 10,000 10 000 8,000 6,000 6 000 4,000 2,000 0 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 200 200 200 200 200 200 200 200 200 200 201 201 201 201 201 201 201 201 201 201 OMB Estimate

Future Debt Burden (Debt Held by Public as Percentage of GDP) (b ld b bl f ) 250 Actual ctua Democratic Budgets* e oc at c udgets 200 150 100 50 0 1940 0 1944 4 1948 8 1952 2 1956 6 1960 0 1964 4 1968 8 1972 2 1976 6 1980 0 1984 4 1988 8 1992 2 1996 6 2000 0 2004 4 2008 8 2012 2 2016 6 2020 0 2024 4 2028 8 2032 2 2036 6 2040 0 * ‐ ‐ ‐ Out‐years based on CBO’s Long‐Term Projections

Family Energy Budget in 2012 y gy g Cost with Cap & Trade Cost without Cap & Trade $1,415 $1,303 $1,786 (+ 9%) $1,536 ( (+ 16%) ) $1,236 $1,082 (+ 14%) Gasoline Nat. Gas Electricity

Doubling the National Debt (Billions of Dollars) (Billions of Dollars) 25,000 20,000 15,000 10 000 10,000 5,000 0 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 200 200 200 200 200 200 200 200 200 200 201 201 201 201 201 201 201 201 201 201 OMB Estimate

Cap and Trade = 1.5 Million Jobs Lost (Cumulative Job Losses Per Year) (Cumulative Job Losses Per Year) 1,600,000 1,400,000 1,200,000 1,000,000 800,000 800 000 600,000 400,000 200,000 0 2011 2012 2013 2014 2015

President’s Entitlement Spending Increases Other $38 Billion Refundable Tax R f d bl T Credit $326 Billion Physician Payment Increases $330 Billion $, $1,012,000,000,000 , , , Health Care Spending Financed p g with Taxes $318 Billion

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Obama FY2010 Budget

by Robert Bluey on Mar 17, 2009

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Obama FY2010 Budget — Presentation Transcript