How can Obama possibly get enough money to deliver on his promises for health care and other social programs?

In today's NY Times, Gov Peterson of New York says the state will have to cut health care and education because of a $12.5 billion deficit. Other states are also facing worsening fiscal conditions. The states are just mirroring the federal problems - there is no money to pay for old programs, let alone start new ones in the worst recession in 70 years.

How can Obama possibly get enough money to deliver on his promises for health care and other social programs?
The first, and largest source of income, will be in ending the Bush tax cut on the income tax and inheritance tax. Over a 10 year period, the Bush tax cuts alone cost the US government $1,903,100,000. If Obama ends the tax cuts immediately upon swearing in, he saves the US government $207.3 Billion next year alone. The wealthiest 1% of Americans save $715.1 Billion dollars from 2001-2010 with the Bush tax cuts, and over $130Billion/ year after that if they are allowed to continue. By simply ending these tax cuts we can afford most of Obama's plans. His tax cuts to the bottom 95% of American households are not this expensive, and give taxes to everyone who is most likely to spend the money in the economy, causing economic growth that ultimately stimulates the economy and increases the income of the remaining 5%. Obama's health insurance plan was cheaper than McCain's in the short term, and covers many more people. It wasn't until 5 years pass that the cost of Obama's plan outpaces the cost of McCain's plan, at which point the economy is unlikely to be recession (or worse).


As far as pulling troops out of Iraq, that will not stop all funding for the Iraq war, and large numbers of those troops will be redeployed to Afghanistan, although many others will come home. The amount of money this will save the government will undoubtedly number in the billions of dollars per year, but anyone who says it will save us 10-12 billion per month is foolish.
Reply:he is going through the budget line by line and as we all know the war is the first money hogger, next the government buys things or pays for things with out price comparing, and for me medicare which is a government entity spends loads of money needless, for instance my grandmother who is 94 had her leg amputated in 1994, she qualified for a hospital bed, a lift and a bed side commode, medicare has paid in total $12000, for the bed $6000, for the lift and $3000, for the potty chair,$21,000 and they are still billing, if medicare had of bought thes things instead of renting them the bed 1200 dollars, the lift maybe 1000 and the potty chair maybe 200 dollars look at the saving that we could use for health care and this is only for one person, so changing the way we do things can help keep others insured. that is spreading the wealth around, money the government throws away.on health care equipment..
Reply:he has already stated that his new programs will be funded by the next president. he stated the next president will have to raise taxes due to the programs he is going to initiate. so that is where the money will come from. i think he wiil use the redistribution money. we won't get a direct check it will be a check in the form of socialistic programs. take more from the rich eliminate jobs and create more government.
Reply:its part of Obama trillion dollar plan, in his first year in office he will withdraw a trillion dollars to start his socialist plans and then well have health care for everyone and the obama youth brigades and something called change also were going to help third world countries like cuba and Venezuela because there socialist countries need it and we gotta spread the wealth





don't worry he will make sure our taxes go up so we can all share in helping ourselves to free health care.
Reply:Sorry, Kevin A, but that money will just shift to Afghanistan.





Thanks for trying.





As for Obama's promises?





Well, remember Jimmy Carter? BOHICA, friends...bend over, here it comes again.





First it was those making $250k. Then it was $200k. Then it was $150k.





Guess what?





The new Obama Biden definition of 'rich' is going to be everyone with a job.





Let's all meet here next year on April 16th and compare our tax breaks. LMAO.
Reply:He can't ... and he knows it. He talks about ending other programs in order to finance his wild schemes.. but the thing is.. most of these so called programs do not have a wealth of money either. The country is near bankruptcy and he promised so much to so many.. and he has nothing to back it up.





He is going to be a very big disappointment because I think the sheep truly believed him. There are millions of black people for instance, who are counting on him to just magically make their lives better.. jobs galore.. equal this that and the next thing...he sounded like he had all the answers... but guess what folks.. he doesn't and he isn't going to.... he fooled all of you.!
Reply:He can't, period. It was 95% lies and that is what people voted for. Maybe after some time passes people will see him for what he is, another politician. I have said all along to watch the ban on offshore drilling that was allowed to expire change when he takes office. He has already started check-listing where drilling should be banned. Too late, nobody wanted to wake up and do a reality check, now we have what we have, lets hope for the best!
Reply:Well...this of course will not happen right away. But he will be cutting a lot of thos programs that do not work and are wasting money and then applying it to those that do work or that he plans on creating like for healthcare and education. It will all be tough...but we will get through this recession!
Reply:First off I do believe the people voted for the messenger, not the message.


Take a look at what the so called poor people have.


http://www.heritage.org/Research/Welfare...


I don't see what the man has done as a community organizer in Chicago has done. The murder rate there has skyrocketed, the school system is a shambles, and the city has the highest taxes in the Nation.


I will support him because he is our President, but I will not agree EVER what he has said and done so far.
Reply: The same way Clinton gave us health care. The money from the war in Iraq will go to the war in Afghanistan. And the next war, possibly Iran.
Reply:Please address your question to GWB he is still the president.


President elect Obama will take office on January 20th, 2009 let's wait until then.
Reply:Simple, raise taxes.





Everyone in the Democratic party understands the economy thrives with increasing tax rates. Just ask Jimmy Carter.
Reply:well saving $10 billion a month from the Iraq occupation will be a huge start.
Reply:Use all the money saved by ending the Iraq war.
Reply:stop tax braks for big oil.
Reply:Print it.
Reply:Make the rich actually pay taxes on the untaxed portion of their income





Save billions every month in eliminating the useless war in Iraq





Eliminate programs in government that do not work





Help create jobs which will increase tax revenue





And those are just some of the major ones.