The deficit in perspective:
(H/T American Elephants)
Obama response - A 3.47 trillion WTF budget proposal
WSJ: "This was supposed to be the moment we were all waiting for. After three years of historic deficits that have added almost $4.5 trillion to the national debt, President Obama was finally going to get serious about fiscal discipline. Instead, what landed on Congress's doorstep on Monday was a White House budget that increases deficits above the spending baseline for the next two years. Hosni Mubarak was more in touch with reality last Thursday night."
Excitable Andy: "[Senators] have to lead, because this president is too weak, too cautious, too beholden to politics over policy to lead. In this budget, in his refusal to do anything concrete to tackle the looming entitlement debt, in his failure to address the generational injustice, in his blithe indifference to the increasing danger of default, he has betrayed those of us who took him to be a serious president prepared to put the good of the country before his short term political interests. Like his State of the Union, this budget is good short term politics but such a massive pile of fiscal bullshit it makes it perfectly clear that Obama is kicking this vital issue down the road. To all those under 30 who worked so hard to get this man elected, know this: he just screwed you over."
Hot Air - Obama's budget "surreal and catastrophic." "On the seminal issue of his time, the long-term fiscal sustainability of the United States, this guy has completely abdicated."
Nice Deb: Obama Says Fiscal Commission “Provides Framework For Conversation” While Rejecting All Of Its Recommendations
Jake Tapper: Obama has proposed a "10-year budget plan that would increase the national debt by $7.2 trillion over 10 years -- $1.1 trillion less than if it weren't implemented. The plan shows that Obama will not take the lead on any aggressive measure to eliminate the nation’s $14 trillion debt . . ."
Instapundit: HOW DEEP ARE THOSE PROPOSED SPENDING CUTS? NOT VERY. “The next time you hear howls of anguish over deep, tough, painful cuts in the federal budget, you might want to ask yourself how you’d feel if you had 7 percent more to spend next year than you did last year.”
And among the accompanying graphics, the one on spending as a percentage of GDP should undercut any claims that Obama is just continuing Bush’s big-spending ways. Bush spent big. Obama is spending disastrously big.
Dana Milbank: "Obama's budget proposal is a remarkably weak and timid document. He proposes to cut only $1.1 trillion from federal deficits over the next decade - a pittance when you consider that the deficit this year alone is in the neighborhood of $1.5 trillion. The president makes no serious attempt at cutting entitlement programs that threaten to drive the government into insolvency."
NRO: "First, there’s the $1.6 trillion deficit. That figure is the same as the entire budget of the United States in FY1998 (FY1986 in real terms, which is interesting considering the tendency to compare Obama with Reagan).
Powerline: "Obama's game is transparent, isn't it? He is playing a game of chicken. He puts forward a series of proposals that he knows are more or less insane; but he also believes that Republicans will come to his rescue. They, not being wholly irresponsible, will come up with plans to reform entitlements--like, for example, the Ryan Roadmap. Ultimately, some combination of those plans will be implemented because the alternative is the collapse, not just of the government of the United States, but of the country itself. But Obama thinks the GOP's reforms will be unpopular, and he will be able to demagogue them, thus having his cake and eating it too. Is that leadership? Of course not. But it is the very essence of Barack Obama."
At best, Obama is a deeply ideological man with almost no grasp of reality. At worst, he is a cynical, manipulative politician willing to put his political interests above the best interests of the nation.
Tuesday, February 15, 2011
The deficit in perspective: