President Obama Proposes A Joke Of A Budget For 2014

April 10, 2013 8:04 pmViews: 2582

Obama 2014 budget proposal


What kind of a budget would you expect a dyed in the wool, wealth hating, CEO bashing, Wall Street denigrating, tax and spend liberal to come up with? Probably nothing on this side of anything approaching a sane fiscal policy, would you? Well according to the British Daily Mail, President Obama's budget for fiscal year 2014 is, "based on bad math, phantom revenues, imagined spending cuts and a middle-class tax hike." Did you see that last part about a middle class tax hike?

Of course the White House released President Obama's budget with the usual fanfare and pomp and circumstance worthy of a few classic soundbites when they stated, "Every new initiative in the plan is fully paid for, so they do not add a single dime to the deficit." Where have we heard that line of it will, "not add a single dime to the deficit" before? The only problem is, once the CBO gets a hold of it they will see what a complete boondoggle it is and give us a full budget busting report. But wait, the UK's Daily Mail beat the CBO and just for you liberals, us right wing bloggers to the punch before we could get to it and tear it apart.

The centerpiece of Obama's budget is his supposed deficit reductions of which he has already claimed some $2.5 trillion in reductions (spread out over 10 years) in the last 2 years. This budget for 2014 goes on to claim an additional $1.8 trillion in deficit reductions for a grand total of $4.3 trillion over the next 10 years. Too bad none of them are actually real, but instead do little more that slow the growth rate of our sick current spending binge. Only in the twisted logic of a liberal Washington fantasy can Barack Obama spend $1.3 trillion more than he takes in each and every year for the last 5 years, increasing the national debt by a whopping $6.5 trillion and then write a budget with inconceivably fuzzy math that somehow shows he reduced the deficit by $4.3 trillion. I think we all wish we could do that kind of math on our household budgets.

We can see it now, the State Run Media outlets of MSNBC and others will tout the President's wizardry in coming up with $4.3 trillion in fantasy savings in his newly released monstrosity and never mention the crushing nation debt of nearly $17 trillion now, $6.5 trillion of it courtesy of Barack Obama.

Red more analysis of the President's budget from The Daily Mail below:

The budget, it says, 'would achieve $1.8 trillion in additional deficit reduction over the next 10 years, bringing total deficit reduction to $4.3 trillion. This represents more than enough deficit reduction to replace the cuts required by the Joint Committee [on] sequestration.'

The implication, one which the White House has made more deliberately in the past, is that Barack Obama has already squeezed $2.5 trillion out of the government's next ten deficit statements.

Obama himself said during a press conference on January 14 that he had signed bills into law that contained 'a total of about $2.5 trillion in deficit reduction over the past two years.'

FactCheck.org, a program of the University of Pennsylvania's Annenberg Policy Center, reported in February that Obama's total sum included about $600 billion, however, in new taxes - not spending reductions. It also included $500 billion in reductions of the amount the federal government planned to pay in future interest on its debts.

Only about $1.4 trillion consisted of actual spending cuts - or at least what Washington wonks call spending cuts.

Obama on Wednesday defended his budget, saying, 'when it comes to deficit reduction, I've already met Republicans more than halfway.'

'The numbers work. There’s not a lot of smoke and mirrors in here,' he said in announcing the budget plan from the White House Rose Garden.

'Our economy is poised for progress, as long as Washington doesn’t get in the way,' he added, calling the budget a 'fiscally responsible blueprint for middle-class jobs and growth.'

Federal budgets are configured along what's called a 'baseline,' providing a predetermined level of year-on-year increases that Congress has set on auto-pilot, and with which the White House generally considers it unwise to interfere.

The $1.4 trillion in cuts were merely reductions in those planned rates of spending increases.

The Daily Caller quoted House Speaker John Boehner's press secretary, Brendan Buck, who dismissed in an email the idea that the White House's budget will actually trim spending.

'So where are the net spending cuts? I guess they don’t exist,' Buck wrote. 'The president's budget will – at best – be flat on spending - or potentially even be a net spending increase [and] any deficit reduction will come exclusively from tax hikes.'

Senate Minority Leader Mitch McConnell practically begged the White House on Tuesday to get serious.

'Mr. President, if you are ready to embrace bold reform — to take the steps that are needed to make our entitlement programs permanently solvent and grow the economy — then Republicans are ready to work with you,' McConnell said.

'The time has come to summon the political courage to move beyond the status quo, to put the tax hikes and the poll-tested gimmicks aside, and to do what must be done.'

Related Posts For You:

Tags: