Obama’s budget proposal in La-La- Land

Obama’s budget proposal in La-La- Land



The marvel is that his administration says stuff like
this with a straight face. Politico’s Playbook:

-A senior administration official says the budget includes “$1.1
trillion in deficit reduction [over 10 years], with two-thirds of it from cuts.
By taking a responsible approach to get us to live within our means and invest
in the future, the budget will get us to a place by middle of the decade where
we are no longer adding to our debt as a share of the economy and the government
is paying for what it spends (‘primary balance’).”
N.Y. Times’ Jackie Calmes: “The budget
confirms that Mr. Obama is not taking the lead in embracing the kind of
far-reaching deficit-reduction plan recommended in December by a bipartisan
majority of his fiscal commission. It proposed saving $4 trillion over a
WashPost’s Shailagh Murray and Lori
Montgomery: “Obama would reach his target in part by raising taxes, an idea that
Republicans refuse to consider. … The White House proposal … would barely
put a dent in deficits that congressional budget analysts say could approach $12
trillion through 2021.”

I have to say that the GOP is only marginally better in approaching our
titanic deficits. At least they refuse to raise taxes and have offered a serious
proposal to cut $100 billion right away from the budget. And there are
individuals here and there in the Republican party – Paul Ryan comes to mind –
who have a clear eyed view of what must be done to get us back to fiscal
But it is depressing to contemplate that the meager, almost non-existent cuts
the president proposes is considered by the administration to be enough so that
the “government is paying for what it spends.” Only in the La-La Land of Obama
does trillions in deficits come close to government living within its means.
Hat Tip: Ed Lasky


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