Obama: Budget tightening could widen income gap

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  • travelrus murray, UT
    Oct. 10, 2013 9:07 a.m.

    "Obama has proposed some changes that would reduce spending on Social Security and Medicare, including an adjustment that would lower cost-of-living adjustments. But he has insisted on more tax revenue by closing what he says are loopholes for the rich, a step Republicans won't take."
    So the Republicans plan to balance the budget will again be on the backs of the middle class hard working American and continue to help the top wealthiest get richer. You do know, all you hard working citizens out there, that you will not get richer under the Republican budget only your companies CEO will gain.
    Everyone agrees changes to spending needs to happen with some cuts to Social Security and Medicare but come on don't you all think it is time for everyone to contribute their fare share. Our wages are getting smaller while the Corporation's just keep getting richer. What ever happened to a profit sharing mentality? I feel more like a servant to my company than an employee. When they cut salaries and froze wages they said if you don't like it go find another job. So much for the American Dream.

  • Tators Hyrum, UT
    Sept. 17, 2013 8:20 a.m.

    @ Frank44

    From what you apparently believe, I can see why you've got a bridge for sale... someone (apparently Obama) has already sold you a bill of goods, and you've bought in hook, line and sinker.
    Yes, there was debt before Obama took office. But he added more to it than all the presidents before him combined. His lowest year of added debt was almost twice what Bush's highest year was, and our "recovery" is artificial, due to Obama's "quantitative easing" program which prints and adds $85 billion in new paper money each and every month.. When inflation takes off within a year, don't say you had no warning. On top of that, no president has ever lost so many manufacturing jobs in our country's history... all verifiable.

    One other verifiable fact... the day that Obama took office, gas price was $1.86 a gallon. What are you paying now?

    Keep seeing Obama with your rose colored glasses if you want to, but it isn't changing actual reality for the rest of us.
    And good luck selling those bridges you're apparently stuck with!

  • Fred44 Salt Lake City, Utah
    Sept. 16, 2013 2:52 p.m.

    Lets see we had no debt, the economy was flying high, we were adding jobs every month and then President Obama took over and now we are trillions in debt and the economy is in the tank?

    Could one of you give me a call, I have this bridge in Brooklyn I would like to sell, I will give it to you for a real good price unless Rush, Sean or Glen have already sold it to you, and if they have I still have a bridge in San Francisco that I am willing to part with.

  • Tators Hyrum, UT
    Sept. 16, 2013 2:45 p.m.

    What Obama fails to mention is that the banking industry has stabilized only because Congress repealed the Dodds-Frank banking bill, a bill passed and shoved thru Congress almost a decade ago by 2 high ranking Democrat senators, and which economists now give much of the blame for the recession we're still trying to dig ourselves out of.

    He also fails to mention that the 7.5 million jobs he's credited with creating are mostly part-time and low-paying service industry type jobs. And that those came on the heals of losing almost 6 million high paying manufacturing jobs to other countries.

    One other thing Obama fails to understand. By not reigning in spending, our federal deficit will continue running amuck to new record levels, causing the Federal Reserve to continue printing $85 billion in new paper money per month, unbacked by any new goods or services. Per established macro-economic laws, that in turn will eventually create significant inflation, thereby further eroding the purchasing power of the working class Americans' already significantly shrunk paychecks.

  • county mom Monroe, UT
    Sept. 16, 2013 9:16 a.m.

    I agree Mountanman.
    Although our income has definitely dropped, our taxes have continued to rise.
    Many of us can not find work, or our work has been cut to part time.
    Then we must factor in the increases in healthcare costs due to Obamacare and that will put most working class Americans on the poverty level.
    Many of us have less then half of the income we had before Obama's "recovery".

  • Mountanman Hayden, ID
    Sept. 16, 2013 7:56 a.m.

    Americans must be wondering how much more of this “recovery” they can afford. New figures from the Census Bureau’s Current Population Survey, compiled by Sentier Research, show that the typical American household’s real (inflation-adjusted) income has actually dropped 5.7 percent during the Obama “recovery.” Using constant 2012 dollars (to adjust for inflation), the median annual income of American households was $53,718 as of June 2009, the last month of the recession. Now, after 38 months of this “recovery,” it has fallen to $50,678 — a drop of $3,040 per household.

  • county mom Monroe, UT
    Sept. 16, 2013 12:08 a.m.

    Wow this president has no bounds when it comes to the blame game.
    He will blame everyone but himself for his own policies.
    Although there are those out there that selectively forget that for 2 years after Obama was made president he had a majority in the house and the senate, I will not forget that all these stupid policies and all the added regulations and all the higher taxes came about during that time.
    What a huge mess we are in and there is no end to it. Let the blame land squarely on the shoulders of those who voted and signed, a 2,700 page pile of crap and then voted themselves out of it.
    WE must get them all out and make sure that our government can not vote to enslave us without enslaving themselves with their own stupid regulations, taxes and policies!

  • TRUTH Salt Lake City, UT
    Sept. 15, 2013 7:36 p.m.

    Really obama? So while Obamacare which has forced employers to cut 25% of every employees hours from 40 to 29 so they don't have to pay for healthcare......and this is your signature bill and you are worried about the GOP defunding Obamacare? Get real liberals, the gig is up......Obama is not what you voted for....

  • TRUTH Salt Lake City, UT
    Sept. 15, 2013 6:14 p.m.

    Tightening could widen gap.......REALLY OBAMA!?? And how wide has that gap increased with your destructive fiscal policies. Under Obamacare alone all full time workers are being chopped to 29 hr a week jobs a loss of over 25% of their income......or is that what you call spreading the wealth? With 90 million unemployed Americans, that gap has never ben wider and the GOP had nothing to do with that......this economy is all yours Barry! Hey Michelle, get Barry drinking your water , he needs it more than my kids!