Spending become Dem political problem
In the meantime, the Obama and other Democrats continue to insult voters who express concern about the deficit, even as they recognize that those deficits have cost them the support of the independents who are leaving Democrats in droves according to recent polling. It is one reason why Obama's own poll numbers no longer defy gravity and have fallen below 50 percent.
After engineering an unprecedented spending surge for nearly a year, President Barack Obama now wants to signal that he takes deficits seriously. So this week the White House announced that it is considering creating a commission to figure how to fix the budget mess.
Well, almost. What seems to concern the president is not the problem runaway spending poses for taxpayers and the economy. Rather, what bothers him is the political problem it poses for Democrats.
Last year, Mr. Obama made fiscal restraint a constant theme of his presidential campaign. "Washington will have to tighten its belt and put off spending," he said back then, while pledging to "go through the federal budget, line by line, ending programs that we don't need." Voters found this fiscal conservatism reassuring.
However, since taking office Mr. Obama pushed through a $787 billion stimulus, a $33 billion expansion of the child health program known as S-chip, a $410 billion omnibus appropriations spending bill, and an $80 billion car company bailout. He also pushed a $821 billion cap-and-trade bill through the House and is now urging Congress to pass a nearly $1 trillion health-care bill.
An honest appraisal of the nation's finances would recommend dropping both of these last two priorities. But the administration has long planned to run up the federal credit card. In February, Mr. Obama's budget plan for the next decade projected that revenues would equal about 18% of GDP while spending would jump to 24% of GDP, up from its post World War II average of 21%. Annual deficits of about 6% of GDP were projected for years to come.
When Mr. Obama was sworn into office the federal deficit for this year stood at $422 billion. At the end of October, it stood at $1.42 trillion. The total national debt also soared to $7.5 trillion at the end of last month, up from $6.3 trillion shortly after Inauguration Day.
The vulgar name calling against those who express their objections at Tea Party protest is not going to be persuasive in changing the dynamic with angry independent deficit hawks. It may make the Democrat kook base feel good, but it is not going to win swing voters over.