Obama’s Budget Doubles Down on Two Years of Failed Policies
“Obama is sending Congress $3.73 trillion budget blueprint that promises $1.1 trillion in deficit savings over the next –” how in the world can this be printed? One-point-one trillion in deficit savings? From what baseline, for crying out loud? This is journalistic malpractice. It’s presidential malpractice to talk about $1.1 trillion in savings. Savings from what? Let’s say that you go buy a car, you’re in the market to buy a car. And you have budgeted for your new car no more than $50,000. So you start going around, you start kicking the tires, you go to various dealerships. And you find a car that costs $70,000. You really, really like it. But you don’t buy it. You stick with your original budget of $50,000 and at the end of the day you tell yourself you saved 20,000, when in fact you haven’t saved a dime. You spent 50! Well, that’s exactly what this is, $1.1 trillion in deficit savings over the next ten years? There isn’t gonna be a reduction in the deficit of $1.1 trillion because of this budget. At the very best they could say the deficit will not grow by $1.1 trillion because of what we were gonna spend that we’re not gonna spend. That’s even bogus as well. There are no real savings here.
Here’s the next line: “The $1.1 trillion deficit savings over the next decade through spending cuts and tax increases,” which is a laugh. There are no real savings if there are tax increases. The money is still being spent. The real scandal about the budget shouldn’t be the size of the deficit. It ought to be the size of the budget itself, because that’s what leads to the deficit. This is simply irresponsible. Obama’s new budget “projects that the deficit for the current year will surge to an all-time high of $1.65 trillion this year.” Fine. That’s paragraph two. Paragraph one talks about a $1.1 trillion deficit savings, and in the next paragraph we have an acknowledgment that the largest deficit ever is part of the budget. It’s going up. The budget deficit is going up. But who is it? The AP, Obama want us to believe we’re cutting the budget, the deficit. “That reflects a sizable tax cut agreement reached with Republicans in December for –” oh, that’s why. I forgot. Do you know why the deficit’s gonna be higher than ever before? Because of the tax cut deal with the Republicans in December. What was that tax cut deal with the Republicans in December? There wasn’t a tax cut deal with the Republicans in December, and the reason is that there wasn’t a tax cut deal period in December. All there was in December was an extension of current income tax rates. Didn’t go up, didn’t go down.