Tuesday, August 2, 2011

Rush Limbaugh - #3130 - VIDEO: Baseline Budgeting Explained

Rush Limbaugh - Baseline Budgeting Explained - RUSH: So Obama has told the bankers secretly and privately, according to the Drudge Report, that we're not gonna be defaulting, that there will not be a default. Charles Gasparino had the story at the Fox Business Network. It's just as we've told you. There isn't gonna be any default and there probably won't be a downgrade. All of this is hocus-pocus. Look at what a great lousy job the Drive-Bys have done in educating the American people on the subject of the debt ceiling. For instance, how many of you realize that we have more than doubled the debt ceiling in just five years? In 2006 the debt ceiling was $8.2 trillion. Now with what's gonna end up happening here, the debt ceiling will be raised to $16.7 trillion. It's at 14.3 now. You would think that would qualify as news. And, of course, we're still not spending enough money for Obama. We're really being played for a bunch of saps, folks. We left the program talking about this yesterday in the context of the baseline, the way the budget is working. I have an even more shocking bit of news today to illustrate the baseline. For those of you that don't know what the baseline is and how baseline budgeting works, let me give you the real quick explanation of it. When you put together your budget, if you do one, you take last year's spending and income and you take a look at it and you figure out if you spent more than you had, or if you didn't spend more than you had, what did you do with what you had left over, where did it get spent.  Read more........ Video contributed by Eric Seitz.

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