IBD speaks for many of us:
"After hearing the Democratic Party lay into President Bush last year for his "profligacy," "record spending" and "soaring deficits," we can't be blamed for expecting something else from the party now in power.
Instead, we get a 19% rise in domestic spending in 2010 from 2008 (2009 has been wildly inflated by stimulus spending), coupled with $17 billion in bogus "cuts" and record amounts of pork-barrel spending.
Even taking the $17 billion seriously, as Budget Director Peter Orszag says we should, that amounts to just 0.5% of total spending — not enough to make even a small dent in a federal budget deficit that will hit $1.2 trillion next year."
Obama's budget cuts are 0.05% of spending?
Is Pres BO saying that 99.95% of the federal budget is worth preserving?
What's the big picture? Dick Morris is right:
"After hearing the Democratic Party lay into President Bush last year for his "profligacy," "record spending" and "soaring deficits," we can't be blamed for expecting something else from the party now in power.
Instead, we get a 19% rise in domestic spending in 2010 from 2008 (2009 has been wildly inflated by stimulus spending), coupled with $17 billion in bogus "cuts" and record amounts of pork-barrel spending.
Even taking the $17 billion seriously, as Budget Director Peter Orszag says we should, that amounts to just 0.5% of total spending — not enough to make even a small dent in a federal budget deficit that will hit $1.2 trillion next year."
Obama's budget cuts are 0.05% of spending?
Is Pres BO saying that 99.95% of the federal budget is worth preserving?
What's the big picture? Dick Morris is right:
"At the core of the new policy will be the simple assumption that Washington knows best.
But it doesn’t."
But it doesn’t."
So get ready for BO's new brave world. It will be costly and inflation is just around the corner. You can not spend this kind of money without inflation! Get ready for it!
P.S. The Washington Post is pretty good too:
"The budget relies on so much borrowing that it will cost taxpayers more than $4 trillion just to cover interest payments for the next 10 years -- more than twice what the federal government will spend on education, energy, homeland security and veterans combined."
