Geee Posted February 14, 2012 Share Posted February 14, 2012 Investors Business Daily: Financial Ruin: What do you call a budget that boosts spending $227 billion, adds $329 billion to an already huge deficit, and does nothing to fix the entitlement crisis? If you're President Obama, it's called "fiscal responsibility." In the message Obama attached to his 2013 budget, he claimed that he's "taken many steps to reestablish fiscal responsibility." But his budget is a colossal monument to irresponsibility, continuing a deficit-fueled spending spree that will take the country ever closer to fiscal ruin. Just how big is this budget's spending splurge? Among other things: • It increases projected federal spending for this year and next by a total of $227 billion, and adds $329 billion to projected deficits for those years. • It includes another $315 billion in stimulus spending this year and next, despite the abject failure of the last stimulus, and claims by Obama himself that the economy is already on the mend. • It spends a stunning $2.7 trillion more over the next decade than the Congressional Budget Office's "baseline" projections. • It produces nearly $7 trillion in total deficits over the next decade, despite claims by Obama that he's cutting the deficit by $4 trillion. Obama also claims his budget enacts "a wide range of mandatory savings," including "more than $360 billion in reforms to Medicare, Medicaid, and other health programs over 10 years." But his own budget numbers show he barely makes a scratch in overall entitlement spending, trimming a tiny $23 billion over the next decade compared with his "baseline" projections. Link to comment Share on other sites More sharing options...
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