In 2009 Obama promised to halve the deficit by FY 2013. As Jim Geraghty said…….oh heck, I am tired of quoting that. Barack Obama has ballooned both deficits and the national debt. At the rate he’s going he will double the national debt to 26 trillion in ten years.
In 2021, the national debt will have risen to $26.3 trillion, increasing by $1 trillion every year until 2021. Obama’s budget does not contain any plans for balancing the federal budget or reducing the national debt.
Obama has no intention of making a dent into the deficit or the debt. William Teach notes how the lapdog media is portraying Obama as cutting deeply into the budget.
So many media outlets are portraying Obama’s supposed budget as a big saver, as him reigning in federal spending. The Politico discusses Obama’s “hard choices.” CBS discusses that this $3.73 budget will somehow reduce the deficit by $1.1 trillion over 10 years, and cuts are deep. The NY Times is, of course, thrilled, and doing their normal high school cheerleader routine. And we have the Washington Post
President Obama will roll out a $3.7 trillion budget blueprint Monday that would trim or terminate more than 200 federal programs next year and make key investments in education, transportation and research in a bid to boost the nation’s economy and reduce record budget deficits.
And Teach is right. Boston.com:
Deep cuts, chance of gains for state in Obama budget
Obama defends $3.7T budget; deep cuts needed ‘to walk the walk’
So how deep are the cuts in this 3.7 trillion budget? Not very.
Remember, Obama’s proposed 2010 budget was $3.6 trillion.
He’s not serious about cutting at all. In fact, Obama is doing absolutely everything he can to balloon the deficit and the debt and there is a reason for it.
Obama has added about 141,000 to the Federal Payroll and that’s just the beginning. Obamacare adds 159 new agencies and programs. The list can be seen here. Over one thousand IRS agents and staff will be needed to enforce Obamacare at a cost of $359 million in 2012 alone just to begin implementing Obamacare. It is estimated that overall Obamacare could require at least 17,000 more federal employees. We are going to be made to pay $11 million dollars for 81 workers just to make sure tanning salons pay their new ten percent tax. That averages out to be $135,000 per tanning tax enforcer per year.
Dodd-Frank will add 8 agencies and 5000 people to the Federal Payroll.
The cost of these agencies will very likely double every twenty years. The budget for the Department of Education went from $24 billion in 1990 to $64 billion in 2009.
Obama has increased welfare spending to historic levels. Welfare spending has increased from $500 billion in 2008 to $750 billion in 2010.
Did you know that Nancy Pelosi’s net worth rose from $13.7 million in 2008 to $21.7 million in 2009?
Keith Henessey poured over the new budget and this is part of what he had to say:
# No big surprises here. The budget tracks the State of the Union address as well as press events and leaks over the past month. There are a few gems, including a hidden 25-cent per gallon gas tax, a State bailout and unemployment tax increase on almost all workers, and a $315 B unspecified Medicare savings gimmick, but those are to be expected.
# Spending, taxes, and deficits would reach new plateaus, each well above historic averages. The President proposes sustained bigger government and bigger deficits and debt. Much bigger.
The numbers are terrifying.
Henessey opines that Obama is placing his own re-election desires above the needs of the country:
The President is choosing both a policy path and a campaign strategy. He is betting that having no proposal to address the looming fiscal crisis is better for his reelection prospects than having one.
I agree, but I think there’s even more to it.
From the big loser bailouts of the auto industry to the wasteful stimulus package, growth of government is killing this country and there has never been a more ardent acolyte of big government than Barack Obama. Government jobs COST taxpayers in taxes, they do not add to the economy. Welfare subsidizes both ignorance and poverty, increasing both. Big government, big deficits and big national debts are the remedy to what Obama saw as the failure of the Warren Court to “break free” of the constraints of the Founding Fathers and engage in redistributive change. He and the Democrat party are piling it on as fast as they can. They broke into the candy store and they’re handing out the stolen candy until the cops show up. And the kids showing up to take that stolen candy are going to vote in the next election.
Obama and the Democrats know that poor people are never going to pay this debt. The better off are going to have to pay it, and so are their kids.
And grand kids. And great-grand kids. We’re never going to get out. Entitlements are eternal and they grow like cancer.
It’s the ultimate redistribution of wealth – the forever debt. Obama has done in two years what the Warren Court could not do.
We are the new slaves.