Obama’s Deceptive, DOA Budget, Part 2

February 14, 2012 15:27

You might think that three years of failure would at least cure the Obama administration of its arrogance, but you would be wrong. The FY 2013 budget is every bit as bitter a partisan document as its FY 2010 counterpart. Going on four years into his retirement, George W. Bush is still to blame for all of Obama’s shortcomings–along with the Republican Congress, of course. – Powerline


by John Hinderaker at Powerline


In hindsight, the “deep fiscal irresponsibility” of the Bush administration (and, of course, the Democratic Congress that was elected in 2006) looks like a golden age. After three years of Obama’s presidency, the debt held by the public has almost doubled, and stands at $11.6 trillion as of FY 2012.


Perhaps the simplest way to demonstrate the failure of the Obama administration is to place side by side the summary budget tables from the administration’s FY 2010 and FY 2013 budget proposals. Here is FY 2010; click to enlarge:


Obama’s FY 2010 budget proposal accused the Bush administration of “deep fiscal irresponsibility” because at that time, federal debt held by the public added up to $6.4 trillion. As noted above, the FY 2013 budget acknowledges that it has now skyrocketed to $11.6 trillion. But look where it goes from there: under Obama’s own projections, it rises to $19.486 trillion by 2022. If $6.4 trillion is proof of “deep fiscal irresponsibility,” then what should we call $19.486 trillion?


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