Rabu, 16 Februari 2011

Obama's Budget

NOone likes it.  The usual source is mostly about The One's ridiculous efforts at deficit reduction, kicking the can down the road, yadda, yadda.  Here's one such:


My favorite, tho, is this one:


The most amazing thing (to me, anyhoo) about Obama's budget is the fact he completely ignored the Simpson-Bowles recommendations.  That was HIS commission and he basically said "thanks, but no thanks."  It's hard to take Obama seriously on the subject of the deficit, even for the most Hopey-Changey among us.  Those of us on the right who never really took him seriously about any-damned-thing could just shrug our shoulders and say "Well, what did you expect?"  But the deficit is an existential crisis, the sort of "make or break" issue that threatens the very life of the republic.  I was hoping... excuse the expression... for something better than what we got.

Reading budgets ain't my cuppa and by that I mean the actual document itself.  I'll leave that to the wonks, thank ya.  But I have read a lot of reaction and analysis to/on the budget and there ain't much "there" there.  I'll put up one brief quote from the WSJ and then I'll go:
This $3.73 trillion budget does a Cee Lo Green ("Forget You," as cleaned up for the Grammys) to the voter mandate in November to control spending. It leaves every hard decision to the new House Republican majority. And it ignores almost entirely the recommendations of Mr. Obama's own deficit commission. No wonder the commission's Democratic co-chairman, Erskine Bowles, said Monday that this budget goes "nowhere near where they will have to go to resolve our fiscal nightmare." And he's an ally.

How unserious is this budget? Although the White House trumpets $2.18 trillion in deficit reduction over the next decade, those savings are so far off in the magical "out years" that you can barely see them from here. More than 95% of the savings would happen after Mr. Obama's first term in the White House is over, and almost two-thirds of the promised deficit reduction would arrive after 2016. Pretending to cut deficits by pushing all real cuts into the future is Budget Flimflam 101. 
That pretty much sums it up.  Hope 'n' Change, my ass.

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