I remember being on Capitol Hill and receiving President Obama’s budget resolutions. I don’t think his budget received one vote in my two years there. And it seems that streak will continue with yesterday’s release of the next Obama budget.
Recently the Washington Post described Obama’s foreign policy as being based on fantasy — same for his budget resolution, ridiculous fantasy. Obama has proposed $3.9 trillion in his new budget, which reflects where his spending priorities lie. Obviously he doesn’t believe in fiscal discipline or responsibility and his budget proves it.
As reported by FoxNews.com, “President Obama unveiled a $3.9 trillion budget plan on Tuesday that drops earlier proposals to cut future Social Security benefits and seeks new money for infrastructure, education and jobs training — handing Democrats running for re-election a political playbook but angering Republicans who called the blueprint “irresponsible.”
There is no doubt this is nothing more than a campaign document to try and give Democrats a boost in this election year. It will be used to demonize Republicans once again – Saul-Alinsky style — as mean, rude, nasty, and uncaring. But how can anyone believe that Obama and the Democrats care about the fiscal future of our Republic?
Consider the following factoids; The President’s budget increases spending by $791 billion over the budget window and by $56 billion in 2015 above the Murray–Ryan spending agreement that he signed into law just two months ago. Just more of the typical beltway two-step.
Obama has said that we have been living in an “era of austerity” — well someone forgot to tell him that since 2009, the Obama era, we’ve added $6.8 trillion to the debt and spent $17.6 trillion. But that’s just for starters. Obama’s new budget adds $8.3 trillion more to the debt over the next 10 years and cumulative deficits would amount to $5 trillion, while gross debt climbs to $25 trillion in 2024.
And what will fuel all the new Obama spending? President Obama has already increased taxes by $1.7 trillion. Now, he wants another $1.8 trillion on top of that. Roughly half of the new tax hikes would be dedicated to new spending rather than deficit reduction.
Most damaging is the fact that the current net interest on the debt which is $223 billion a year will explode to $812 billion in 2024, ten years from now. Keep in mind, net interest on the debt is on the mandatory spending side of the US budget and cannot be touched. It is a reflection of increased fiscal borrowing. Lastly, the Obama budget NEVER balances, it just fiscally decimates these United States of America.
Obama’s budget is not worth the paper it’s written upon — it is a fiscal death sentence for America. All it provides are empty talking points for liberal progressives running for office. It is a blueprint of lies.
After 5 years this hasn’t worked which means we’re all clearly insane: continuing to do the same thing and expect different results.