Announcing his Fiscal Year 2013 Budget Obama went again to a familiar campaign backdrop in Northern Virginia and proclaimed that his budget was "a blueprint for an economy that is built to last."
Obama's "blueprint" is based on an unending mountain of debt that is anything but "built to last." From the CATO Institute the following chart shows the problem:
Obama's "blueprint" will add $7.9 TRILLION in new debt over ten years (charts ). That's on top of the projected $6.2 Trillion in new debt in Obama's first four years. This comes from a man who said this as a candidate for President in July 2008:
Now, back to the present day. In that speech in Northern Virginia Obama pointed the finger back to President Bush and the Republicans when he said "the last thing we can afford to do right now is to go back to the very policies that got us into this mess in the first place. We can't afford it." By all accounts, going back to Bush spending plans would be the most responsbile thing we could do. "we can't afford" to keep going with Obama's reckless, endless spending spree.
OBAMA: The problem is, is that the way Bush has done it over the last eight years is to take out a credit card from the Bank of China in the name of our children, driving up our national debt from $5 trillion for the first 42 presidents – #43 added $4 trillion by his lonesome, so that we now have over $9 trillion of debt that we are going to have to pay back — $30,000 for every man, woman and child. That’s irresponsible. It’s unpatriotic!
And remember this comes form a man who promised to cut the deficit in half in his first term in office:
OBAMA, February 2009: We cannot and will not sustain deficits like these without end. Contrary to the prevailing wisdom in Washington these past few years, we cannot simply spend as we please and defer the consequences to the next budget, the next administration, or the next generation.That's why today I'm pledging to cut the deficit we inherited by half by the end of my first term in office.Obama's "blueprint" has received nearly universal condemnation in even portions of the news media generally favorable to him.
*No Plan for Jobs, Just More “Short-Term Stimulus-Style Spending”: Instead of a plan for removing barriers to private-sector job growth, Fox News says the president’s budget has “$350 billion in short-term stimulus-style spending…” Associated Press says it is “laden with stimulus-style initiatives” and “small-bore initiatives.”Why worry. The Senate won't pass this budget or any other!
- Tax Hikes on Families & Small Businesses “Will Feature Prominently”: “Tax increases will feature prominently in the new budget,” says the Washington Times. AP says it “puts forward $1.5 trillion in new taxes” on families and small businesses.
- “Four Straight Years of Trillion-Dollar-Plus Deficits”: Associated Press says the president’s budget blueprint “projects a deficit for this year of $1.33 trillion. That would mean four straight years of trillion-dollar-plus deficits” – piling on to our massive debt that is hurting private-sector job creation.
- “Failed to Meet His Pledge to Cut the Deficit in Half”: “[T]he document’s numbers will show Mr. Obama has failed to meet his pledge to cut the deficit in half by the end of his term,” reports the New York Times.
- “Repeats Many of His Previous Budget Prescriptions”: The Wall Street Journal says, “Mr. Obama repeats many of his previous budget prescriptions.” The Los Angeles Times says the blueprint “pulls heavily from proposals previously put forward by the president” – proposals that couldn’t even pass the Democratic-controlled Senate, which hasn’t passed a budget in more than 1,000 days.
- “More a Platform for the President’s Re-Election Campaign”: The New York Times says “the latest budget document can be seen as more a platform for the president’s re-election campaign than a legislative proposal...” The president even plans “to promote the budget at a campaign-style appearance Monday,” says AP.
- Raids Medicare, Maintains Unpopular ObamaCare Law: The president’s budget “seeks to cut $360 billion from Medicare and Medicaid,” says the Los Angeles Times. And Fox News quotes Budget Committee Chairman Paul Ryan (R-WI) noting while “Medicare is going bankrupt,” President Obama’s “health care law takes the $500 billion from Medicare to spend on ObamaCare.”
- “Offers Little in the Way of Entitlement Reforms”: According to Fox News, the president’s budget “offers little in the way of entitlement reforms, the biggest driver of the national debt.” The Hill reports President Obama “has so far not outlined a plan that would deal with Medicare’s long-term demographic challenge” and “experts do not expect him to do so…”
We may not be able to go back to the Bush days of relative fiscal sanity but we can make a choice to end this current nightmare this November. Any Republican in the White House would be a far better steward of our economy and fiscal well being than Obama!