Tomorrow, Obama will release the fourth budget of his agonizingly long four years in the White House. Senator John Barrasso (R-WY), writing at Investors.com, says the signs on the Hill are that this year’s budget will be more of the same of his past three. You’ll remember that last one. Famous for not a single Democrat or Republican voting for it – rejected 97 to 0. Surely that set another historic first among all Presidents. The President gives us more highway spending, less Medicare spending and no fiscal responsibility.
That’s because past Obama budgets have been long on empty promises and short on real solutions. This president has consistently ignored Washington’s crushing debt and passed the real costs on to future generations.
The administration has already signaled that this year’s spending plan will offer more of the same: a budget that spends too much, borrows too much and taxes too much.
For starters, this budget will not be balanced. Despite his frequent rhetoric about spending restraint and the dangers of debt, Obama has never submitted a balanced budget in his life…
Now the administration intends to ask again for tax increases on American families and small businesses. It also plans to keep up its deficit spending and out-of-control borrowing.
On top of that, Obama’s budget will continue his steadfast refusal to propose serious entitlement reforms. Spending on entitlements is unsustainable, accounting for 57% of Washington’s budget. By failing to act, Obama is making it worse. Source: Investors.com
In February 2009 Obama said the $1.3 TRILLION deficit he inherited would be cut in half under his budget, but in 2012, Obama’s new budget predicts $1.3 TRILLION in deficit. Praise Republicans for wisely denying tax increases on the American people. Blame Democrats for no spending cuts.
In his budget submission on Monday, the president will also repeat his call to raise the top marginal income-tax rate for individuals making more than $200,000 a year and families earning $250,000 to a Clinton-era 39.6 percent rate as part of $1.5 trillion in tax hikes over the coming decade. That proposal alone would raise almost $900 billion over the coming decade. Source Philly.com
The source linked above, Philly.com, believes the budget will go nowhere due to “presidential politics,” and has no criticism of the lack of discipline and the continued spending. Another immediate $350 BILLION is in this budget to create jobs. Perhaps he now has shovel-ready jobs standing by? The $787 BILLION stimulus, known as the American Recovery and Reinvestment Act of 2009, created no jobs. Washington DC cannot create jobs. They can only provide the environment for the private sector to create jobs.
Barrasso notes that his home state of Wyoming is working on their 2013-2014 budgeting. In 20 days they will have it, and it will be balanced. The state has received less revenue due to the lower price of natural gas, but Wyoming’s Republican Governor, Matt Mead, did not propose raising taxes. Spending will be cut, and along with the balanced budget, they will have have a back-up budget, just in case the unexpected happens.
Congressman Paul Ryan (R-WI) will release a Republican budget sometime before Easter.
Wyoming cares first about its people pursuing their dreams in the state where they have chosen to live. Fiscal responsibility is the only path to fiscal security. Barack Obama is like a kid with a piggy bank who smashes it open, then begs more from Mommy and throws a fit until he gets it – except Obama isn’t a kid. He knows what he is doing and what he is doing in sinister. Downsizing and weakening America is the goal of countries across the globe. Obama is a globalist. He stepped into the Oval Office ready, willing and able to take us down a peg or two or three or… H/T Steve Lackner