The President’s recent 2013 Budget proposal continues his quest towards 1-world socialism and domestic economic disaster. The Heritage Foundation concludes that, “The Administration has tapped all its resources and can only recycle the President’s shopworn “vision”: bigger government, more spending, higher taxes, and deeper deficitsIf you are tired of President Obama’s fiscally irresponsible economic programs that have us heading over a cliff, please bring your family and friends to the Boston Common on April 15th and join members of the Mass Tea Party as we protest his arrogance.
Heritage Responds to Obama’s 2013
February 13, 2012 at 12:05 pm
President Obama’s Budget Proposal: Running on Empty
- Patrick Louis Knudsen
Coming from a President whose economic philosophy is a borrowed car company slogan, the Obama budget submitted Monday all too predictably repeats the stale and unsuccessful policies of the past three years.
The Administration has tapped all its resources and can only recycle the President’s shopworn “vision”: bigger government, more spending, higher taxes, and deeper deficits. At a time when runaway spending and swelling deficits must be reversed, he worsens both immediately but, as usual, promises to fix them later. In his first post-debt-ceiling fiscal plan—delayed a week, with no explanation—the President appears to have offered an election-year campaign document, not a credible blueprint for addressing the nation’s fiscal and economic problems.
Spending in the President’s budget rises inexorably from today’s $3.8 trillion to $5.8 trillion in 2022. Throughout the decade, outlays hold stubbornly above 22 percent of gross domestic product (GDP), more than twice the New Deal’s share of the economy in its peak years. In constant dollars, outlays are more than three times the peak of World War II.
In 2012, his budget results deliver a fourth consecutive annual deficit exceeding $1 trillion and then make it worse with another round of not-so-shovel-ready construction projects and government “investments” totaling $178 billion. Among these are the typical road, bridge, and school construction, but then they go alarmingly beyond the usual “infrastructure” arguments to fund teachers’ pay.
Read the rest of the story at the following Heritage URL: