President Obama’s 2016 budget deficit 37% larger than 2015

I took some time off for vacation. During my absence, I saw the national media dug through my blog site on posts related to Indiana’s financial state concerning the budget as Governor Pence joined Donald Trump’s Presidential ticket. Honestly, I think I’m about the only blog site out of Indiana that covers it in detail.

On Saturday as I was drinking some beers on a beach, I stumbled across the headline about the nations federal deficit for 2016 on a news feed. Here’s a few snippets I blended together from the Associated Press and Forbes Magazine:

WASHINGTON (AP) — The White House on Friday predicted that the government’s budget deficit for the soon-to-end fiscal year will hit $600 billion, an increase of $162 billion over last year’s tally and a reversal of a steady trend of large but improving deficits on President Barack Obama’s watch.

The federal government’s budget deficit will reach $600 billion by the end of the year, growing about $162 billion from 2015, the White House projected Friday.

The latest projection is about $16 billion less than what officials said in their latest budget report in February. Still, the sharp increase in this year’s annual deficit is disappointing for an administration that has worked to steadily close the budget gap.

 

Economically speaking, I think Obamacare and social programs are the big drivers in the deficit going up. Problem with no actual budget being passed on a yearly basis the past seven years, I have nothing to compare the spending to until the end of the year. The government has done a lot of shifting of current agency budgets into the entire welfare spending to cover costs. Obamacare(Medicaid expansion) and other welfare programs are taking off with people being dumped on medicaid, retiring and just not working.

My overall philosophy about the federal budget and President Obama remains the same: He’s has gotten the ultimate pass and some of it is through him. The nations political vision right now is consumed with “Social Justice Warrior” status on [insert cause] and really do not care about the state of federal finances. Not all voters or Americans. When I say the majority, probably 60%-70% don’t care. President Obama just has not pursued getting a budget passed since day one of his Presidency. His first year he got one done by the House Democrats, but after that, all he did was propose one and then never looked back.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s