President Obama has put out "his" budget proposal, declaring it reduces defecits and brings fiscal responsibility. By this, he means it continues structural deficits in the trillions of dollars for at least the next decade, while assuming cuts in federal spending that will never, ever, ever happen.
What Obama's new budget proposal does is increase the amount of money YOU spend on national debt service. Ten years from now, over a third of the taxes coming from your paycheck (as well as the taxes your boss pays instead of giving you a raise) will be going toward payments on the national debt!
This does not have to be, my friends.
Not three days ago, Neal Boortz was talking about a study that shows 100% balanced budgets WITH increased federal spending! By 2020, you can have a balanced budget (note: -$1T is not balanced) and you'll have had 2% growth OVER inflation and population growth the whole time! What do you have to do? STOP SPENDING SO MUCH MORE! In fact, the story goes: keep the "Bush" tax cuts and don't increase the amount of money we spend on any federal programs, and the budget balances itself in SIX years. That is not with a phantom trillion dollars in deficit spending in six years, it's ZERO deficit.
Now in a way, this new fantasy budget could be good news. It should tie up the Congress for the rest of the term, with party-line votes that never quite make the required majorities. Then Congress will have to pass yet another emergency extension of the current spending plan. It's a big, big jump in the baseline spending from a couple of years ago, but the President's new budget proposal has even larger deficit spending than last year, so staying the same leaves us relatively less indebted!
This November, all the Tax-and-Spend Democrats and Borrow-and-Spend Republicans need to be tossed out of our capitol on their [deleted]s.
Here's hoping.
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