Obama is claiming the "mantle of fiscal responsibility?" Obama is to fiscal responsiblity what Bill Clinton is to chastity.
Yet according to Reuters, that is what is happening. Obama, the man who has brought us to the edge of financial ruin, the man who has quadrupled our national debt in just a few months, the man who added more to our national debt than all other presidents combined, now wants to "claim the mantle of fiscal responsiblity." Indeed, our Profligate Spender in Chief is now all set to claim said "mantle" by introducing "pay as you go" legislation. As Obama explained yesterday:
"The 'pay as you go' principle is very simple. Congress can only spend a dollar if it saves a dollar elsewhere," Obama said in a speech at the White House attended by several Democratic members of Congress.
Can this man be any more disingenuous? Shameless? Hypocritical?
How, you ask. Simple - just a little smoke and mirrors. His "pay as you go" legislation come with special dispensation for Obama's proposed health care and other major plans. As the AP explains, Obama's "pay as you go" legislation . . .
. . . would carve out about $2.5 trillion worth of exemptions for Obama's priorities over the next decade. His health care reform plan also would get a green light to run big deficits in its early years. But over a decade, Congress would have to come up with money to cover those early year deficits.
The "mantle of fiscal responsiblity" indeed. This would make even George Orwell blush.
Is there anyone who believes the left would actually cut spending to add new social programs? Is there anyone who believes this will actually result in voluntary fiscal restraint in a decade, when Obama is safely out of office? Indeed, even as Ben Bernanke is sounding the alarms about the need to reduce the defecit now, Obama is planning for ever more spending on borrowed money - 2.7 trillion of it.
And lastly, the problem with this type of legislation is that it makes tax cuts that much harder to pass. But the truth is that cutting taxes has, every time it is tried, resulted in more tax revenues. This legislation is more designed to defeat Repulican attempts at tax cuts than it is at imposing fiscal discipline on the most undisciplined President and Congress our nation has ever known.
Obama is spending us into ruin. And he does so while the train whistle of economic disaster gets ever closer.