The Leftist Vision for Government
The Obama deficit will weigh the nation downAs we noted last week, Barack Obama is now paying lip service to fiscal conservatism by calling for a "freeze" on federal spending in the face of huge deficits. Yet the freeze would apply to only a small fraction of spending and save a measly $15 billion -- and not until 2011. With Monday's budget release, in which outlays will reach $3.72 trillion for fiscal 2010 and $3.83 trillion in 2011, this political posturing becomes all the more disingenuous.
While the projected deficit will hit a record $1.56 trillion this year and a cumulative $5.08 trillion over the next five years, spending will reach 25.4 percent of GDP this year, a post-World War II record. The phony freeze simply sets a new floor for government largesse -- a floor that's nearly 30 percent higher than in 2008.
The Wall Street Journal reports, "Despite talk of 'tough choices' in [Monday's] document, the Administration wants $25 billion in new spending for states for Medicaid, $100 billion for yet another jobs 'stimulus,' big boosts in spending for low-income family programs, for health research, heating assistance and education." Additionally, the budget moves Pell Grants out of the "discretionary" spending column and into the permanent entitlement one at a cost of $307 billion over 10 years.
No comments:
Post a Comment
Spamming will be removed.
Due to spamming. Comments need to be moderated. Your post will appear after moderated regardless of your views as long as they are not abusive in nature. Consistent abusive posters will not be viewed but deleted.
Note: Only a member of this blog may post a comment.