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Obama’s Louis XV budget
Posted By osurce On February 18, 2011 @ 7:01 pm In Economy and Development,United States | No Comments
Despite Obama’s claims that he is imposing “painful cuts” on spending, Krauthammer runs the numbers to reveal that these cuts actually result in government spending on “stratospheric levels.” The cuts themselves come from an emergency-level, inflated base, and the amount of the cuts ($1.1 trillion over the next decade) is accompanied by $7.2 trillion in new spending (with $2 trillion of that coming from tax increases) over the same amount of time. At the end of the decade, the US will be burdened with a deficit three times the level it was when Obama took office. Yet the president continues to ignore entitlement spending and proposals of tax reform and presents a “cynical” budget that forfeits the future while setting Obama up for re-election.
Krauthammer is a weekly columnist for The Post, writing on foreign and domestic policy and politics.
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