Obama’s new budget will put America in the poor house

February 15, 2012 05:45

What this country needs is an honest leader who will tell the truth about our entitlement spending crisis and identify real reforms. But Obama’s latest budget does none of that. Instead, he offers double doses of deficits, tax hikes and crony capitalism. America deserves better. – Washington Times


Washington Times Editorial


But wait, there’s more to the Obama record of double-talk and misrepresentation about federal taxes and spending. Take his claim that his budget cuts the deficit by $4 trillion over 10 years. Nothing could be further from the truth.


Less than a month after Obama was sworn into office, he hosted a “fiscal responsibility” summit at the White House where he pledged “to cut the deficit we inherited in half by the end of my first term in office.” And the first budget Obama produced projected he would do just that. It showed a $1.7 trillion deficit for 2009 and a $581 billion deficit for 2012. But then reality intervened. Obama’s $757 billion economic stimulus program failed to get the economy growing again. His Obamacare is driving health care costs ever higher, even before it is fully implemented. And he just “doubled down” on throwing more tax dollars at failed green energy efforts like the Solyndra bankruptcy. The result? Now Obama asks Americans to accept a $1.33 trillion deficit in 2012 and deficits every year for the next decade averaging $1.4 trillion.


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