Everybody is grabbing for sound bites on President Obama’s budget submitted today. Republicans have referred to it as “debt on arrival” and Charles Krauthmammer has referred to it as “worthy of Greece” and “truly scandalous.” Of course they’re all correct, but miss the main point about the budget. Before we get to that point, here are some statistics to consider:
• 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.
While the numbers are truly startling in terms of their utter and complete disconnect from the fiscal reality facing this nation, the numbers also give us insight into the truly Marxist agenda of this President. This budget, if adopted, and it won’t be, would put us on a fiscal collision course with reality with catastrophic economic consequences. Sounds harsh, doesn’t it. But that’s the simple problem with this budget – it reveals this President’s obsession with a centrally-planned economy with a Fascist intrusion into private enterprise, a Marxist approach to controlling the population, and a blithely ignorant disposition toward capitalism.
The real point of this budget is its clear line of sight into this President’s thinking. Tax, spend, centrally-controlled economy – a European socialist state.