Obama budget proposal cuts benefits, raises taxes, and increases debt

Although all is not yet known, more is coming out about US President Obama’s budget proposal which is expected to be released on April 10th:

April 7, 2013

Obama budget would cut entitlements in exchange for tax increases

Officials proposed an increase in tobacco taxes to pay for the early childhood education initiative and would also seek to generate revenue by limiting how much wealthy individuals can accrue in their tax-protected retirement accounts. Such accounts would be capped at $3 million in 2013 dollars — which officials say is enough to finance a $205,000-a-year income…

The budget request comes on top of a deal struck at the start of the year to raise taxes on the wealthy by more than $600 billion over a decade…

The budget proposal slices $200 billion from already- tight defense and domestic budgets. It would cut $400 billion from Medicare and other health programs by negotiating better prescription drug prices and asking wealthy seniors to pay more, among other policies. It would also generate $200 billion in savings by scaling back farm subsidies and federal retiree programs, among other proposals.

The proposal to change the formula to calculate Social Security payments, also originally part of the offer to Boehner, would generate $130 billion in savings and $100 billion in revenue, a result of the impact of the change on other government programs. http://www.washingtonpost.com/business/economy/obama-budget-would-cut-entitlements-in-exchange-for-tax-increases/2013/04/05/2ee93f82-9dd6-11e2-9a79-eb5280c81c63_story_1.html

WASHINGTON — President Barack Obama says his soon-to-be released budget, already criticized by friends and foes, is not his “ideal plan” but offers “tough reforms” for benefit programs and scuttles some tax breaks for the wealthy…

In his first comments about the 2014 spending blueprint he’s set to release Wednesday, Obama said he intends to reduce deficits and provide new money for public works projects, early education and job training…

Obama’s plan for the budget year that begins Oct. 1 calls for slower growth in government benefits programs for the poor, veterans and the elderly, as well as higher taxes, primarily from the wealthy.

Some details…drew a fierce response from liberals, labor unions and advocates for older Americans…Obama made no mention of the effect his budget would have on Social Security and other social safety net programs. That idea drew a hostile reaction from some of his most ardent political backers. http://www.washingtonpost.com/business/obama-proposed-budget-not-his-ideal-plan-but-lowers-deficits-while-spending-on-needs/2013/04/06/3dbc9e02-9ea1-11e2-9219-51eb8387e8f1_story.html

(CNN) — President Barack Obama’s upcoming budget plan, which according to senior administration officials will include proposed changes to Social Security and Medicare plus some new tax increases in an effort for the president to reach a deal with Republicans on deficit reduction, quickly drew criticism from liberal groups…http://www.cnn.com/2013/04/05/politics/obama-budget/index.html

The reality is that although this is being touted as a “deficit reduction” plan, the reality is that it greatly increases US debt from current levels. It is the rate of growth of debt that is what is being proposed to be reduced.

Now, it is good that at least there is a proposal from the Obama Administration to try to slow down the accumulation of debt. But, without commenting about the merits and demerits of the plan, the fact that it still is based upon increasing total US government debt does not bode well for the USA.

The Bible teaches the following about leaders, debt, and end time destruction:

12…Those who lead you cause you to err, And destroy the way of your paths.” (Isaiah 3:12)

16 For the leaders of this people cause them to err, And those who are led by them are destroyed (Isaiah 9:16).

43 The alien who is among you shall rise higher and higher above you, and you shall come down lower and lower. 44 He shall lend to you, but you shall not lend to him; he shall be the head, and you shall be the tail. 45 Moreover all these curses shall come upon you and pursue and overtake you, until you are destroyed because you did not obey the voice of the LORD your God, to keep His commandments and His statutes which He commanded you…47 “Because you did not serve the LORD your God with joy and gladness of heart, for the abundance of everything, 48 therefore you shall serve your enemies, whom the LORD will send against you, in hunger, in thirst, in nakedness, and in need of everything; and He will put a yoke of iron on your neck until He has destroyed you. 49 The LORD will bring a nation against you from afar, from the end of the earth, as swift as the eagle flies, a nation whose language you will not understand, 50 a nation of fierce countenance, which does not respect the elderly nor show favor to the young. 51 And they shall eat the increase of your livestock and the produce of your land, until you are destroyed; they shall not leave you grain or new wine or oil, or the increase of your cattle or the offspring of your flocks, until they have destroyed you. (Deuteronomy 28:43-45, 47-51)

3 For the vision is yet for an appointed time; But at the end it will speak, and it will not lie. Though it tarries, wait for it; Because it will surely come, It will not tarry…5 Indeed, because he transgresses by wine, He is a proud man… 6 “Will not all these take up a proverb against him, And a taunting riddle against him, and say, ‘Woe to him who increases What is not his–how long? And to him who loads himself with many pledges’? 7 Will not your creditors rise up suddenly? Will they not awaken who oppress you? And you will become their booty. 8 Because you have plundered many nations, All the remnant of the people shall plunder you (Habakkuk 2:3,5,6-8).

The Habakkuk prophecy will be fulfilled at the time of the end (cf. “The message was true, but the appointed time was long…in the latter days, for the vision refers to many days yet to come,” Daniel 10:1,14).

The nation with the greatest debt of all time is the United States of America.

Some items of possibly related interest may include:

Anglo – America in Prophecy & the Lost Tribes of Israel Are the Americans, Canadians, English, Scottish, Welsh, Australians, Anglo (non-Dutch) Southern Africans, and New Zealanders descendants of Joseph? Where are the lost ten-tribes of Israel? Who are the lost tribes of Israel? What will happen to Jerusalem and the Jews in Israel? Will God punish the U.S.A., Canada, United Kingdom, and other Anglo nations? Why might God allow them to be punished first?
Will the Anglo-Nations be Divided and Have People Taken as Slaves? Will the lands of the United States, United Kingdom, Canada, Australia, and New Zealand be divided? What about Jerusalem? What does Bible prophecy teach? Are there non-biblical prophecies that support this idea? Who will divide those lands? Who will end up with the lands and the people?
Habakkuk: His message is for us now Was something written about 2,600 years ago going to affect the USA, Canada, United Kingdom, Australia, and New Zealand today? What does the Bible teach?
Barack Obama, Prophecy, and the Destruction of the United States-Second Edition for Second Obama Term This is a 160 page book for people truly interested in prophecies related to Barack Obama and the United States, including learning about many that have already been fulfilled (which the book documents in detail) and those that will be fulfilled in the future. It also has a chapter about a Republican choice. This book is available to order at www.barackobamaprophecy.com. The physical book can also be purchased at Amazon from the following link: Barack Obama, Prophecy, and the Destruction of the United States: Is Barack Obama Fulfilling Biblical, Islamic, Catholic, Kenyan, and other America-Related Prophecies? What About Republican Leaders? Second Edition for Second Obama Term.
Barack Obama, Prophecy, and the Destruction of the United States-Second Term-Amazon Kindle edition. This electronic version is available for only US$2.99. And you do not need an actual Kindle device to read it. Why? Amazon will allow you to download it to almost any device: Please click HERE to download one of Amazon s Free Reader Apps. After you go to for your free Kindle reader and then go to Barack Obama, Prophecy, and the Destruction of the United States-Second Term-Amazon Kindle edition.