Most unrealistic buget in the history of the world

Washington Post:

President Obama is putting the finishing touches on an ambitious first budget that seeks to cut the federal deficit in half over the next four years, primarily by raising taxes on business and the wealthy and by slashing spending on the wars in Iraq and Afghanistan, administration officials said.

In addition to tackling a deficit swollen by the $787 billion stimulus package and other efforts to ease the nation's economic crisis, the budget blueprint will press aggressively for progress on the domestic agenda Obama outlined during the presidential campaign. This would include key changes to environmental policies and a major expansion of health coverage that Obama hopes to enact later this year.

A summary of Obama's budget request for the fiscal year that begins in October will be delivered to Congress on Thursday, with the complete, multi-hundred-page document to follow in April. But Obama plans to unveil his goals for scaling back record deficits and rebuilding the nation's costly and inefficient health care system Monday, when he addresses more than 100 lawmakers and budget experts at a White House summit on restoring "fiscal responsibility" to Washington.

In his weekly radio and Internet address today, Obama expressed determination to "get exploding deficits under control" and described his budget request as "sober in its assessments, honest in its accounting, and lays out in detail my strategy for investing in what we need, cutting what we don't, and restoring fiscal discipline."

Reducing the deficit, he said, is critical to the nation's future: "We can't generate sustained growth without getting our deficits under control."

Obama faces the long-term challenge of retirement and health programs that threaten to bankrupt the government years down the road, as well as the more immediate problem of deficits bloated by spending on the economy and financial-system bailouts. His budget proposal takes aim at the short-term problem, administration officials said, but also would begin to address the nation's chronic budget imbalance by squeezing savings from the federal health programs for the elderly and the poor.

...

Not only does Obama not know much about history, he apparently knows know thing about math or accounting either. Since taking office he has more than doubled the deficit and is ready to add more by bailing out dead beat home buyers and on top of that he wants to add the cost of rationed health care. To lower the deficit he wants to increase taxes on businesses that are losing money at a record clip and cutting spending on our two wars at a time he is adding troops in Afghanistan. It is hard to read this story without asking the obvious question.

Is Obama just nuts?

Comments

  1. bubbasmom9:30 PM

    This is terrifying. What reality is Obama living in? He wants to slash military spending, yet send MORE troops. How, exactly, does he propose to arm them adequately, much less pay them? He has proven himself dangerously naive, and his cabinet choices are questionable, at best.

    ReplyDelete
  2. Oct31:10 PM

    I understand that there are doubts about the stimulus package will help. But with this stimulus the federal deficit is likely to go even higher. I saw an interesting article, I think, on

    http://www.recessioninfocenter.com

    ReplyDelete

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