Filed under: Capitalism, Domestic Policy, Economy, National Security, Regulation, Taxes | Tags: Dead on Arrival, Fantasy and Unicorns, The President's Budget Request
The President’s budget — released a month late, in the midst of a faltering, dismal economy, and amid rising global threats — and, he claims, in the midst of “an era of austerity”— he actually proposes a budget that would sharply cut defense spending and impose $1.8 trillion in tax hikes. Bwa-ha-ha-ha. This is a budget request, and it demonstrates that Obama is not much connected to reality, which is worrisome.
His budget rests on the assumption that real GDP growth this year will be 3.1%/ The Congressional Budget Office suggests 2.7% and the consensus in the financial sector is for 2.5%.
He expects us to believe that — all evidence to the contrary — he can add $100 billion in spending on top of the “baseline” this year and next, but then he’ll get serious about spending restraint as he prepares to leave office.
The federal government is more than $17 trillion in debt. Obama’s budget proposal does nothing, nothing at all, to reduce that debt. Instead it adds hundreds of billions of dollars to it every year. The president’s rosiest economic projections say the budget would add $8.3 billion to the national debt, otherwise more. Obama says:
This budget adheres to the spending principles members of both Houses of Congress have already agreed to.
President Obama signed the Bipartisan Budget Act of 2013 into law on December 26,2013, a little more than two months ago. His budget breaks the spending caps by $56 billion in 2015, and by $791 billion over the ten years of the budget proposal. His budget will increase total spending by 63 percent from today’s levels over the next decade.
President Obama’s budget never balances — ever!
He wants to plow more money into repairing crumbling roads and bridges and into rail projects. He really doesn’t change his mind, does he.
He claims that his budget “ensures we maintain read, modern and capable defense forces to address any threats we might face, including threats from terrorism and cyberattacks.”Yet the only part of the government that sees real spending cuts is defense, which he wants to cut back to pre-World War II levels. Defense cuts of $1.14 trillion over the next decade account for more than half of his proposed $2.2 trillion in deficit reduction. I think we’re in “shovel-ready job territory” here. Roughly half of the new taxes go to new spending rather than deficit reduction.
President Obama’s plan nearly quadruples interest costs — the fastest growing item in the budget. Interest this year will be $223 billion but would rise to $812 billion in ten years.
I’m pretty much done with these promises of, although we’re not reducing the debt by much this time, but —in the future it will be different. Uh huh.
Did you know that Barbara Boxer (D-CA) was an Economics major?
One blog I particularly like is The Diplomad 2.0. The author is a former foreign service officer who has served all over the world. I first encountered him when the earthquake and tsunami struck Indonesia in 2004 and he was right in the middle of it. He always has something pertinent to say about foreign policy, and I particularly liked these excerpts:
Our “leaders” are simply not to be taken seriously on critical foreign policy issues. They have no overall strategic aim for our foreign policy; no clear idea where they want us to be in three, four, five years; simply put they don’t really care about foreign policy. They react to crises with bland words, and by wishing them away into the cornfield with the help of the compliant media. Whatever happened to the urgency of the Syrian crisis?
As I wrote in July of last year,
My experience at State and the NSC, has shown me that < . . . > [f]oreign policy for the Obama crew is an afterthought. They really have little interest in it; many key jobs went vacant for months at State, DOD, CIA, and the NSC. The Obama foreign policy team is peopled by the “well-educated,” i.e., they have college degrees, and as befits the “well educated” in today’s America, they are stunningly ignorant and arrogant leftists, but mostly just idiots. They do not make plans; they tend to fly by the seat of their pants using a deeply ingrained anti-US default setting for navigation. They react to the Beltway crowd of NGOs, “activists” of various stripes, NPR, the Washington Post and the New York Times. Relying on what they “know,” they ensure the US does not appear as a bully, or an interventionist when it comes to our enemies: after all, we did something to make them not like us. Long-term US allies < . . . > they view as anti-poor, anti-Third World, and retrograde Cold Warriors. Why else would somebody befriend the US? Obama’s NSC and State are staffed with people who do not know the history of the United States, and, simply, do not understand or appreciate the importance of the United States in and to the world. They are embarrassed by and, above all, do not like the United States. They look down on the average American, and <. . . > have no problem with anti-American regimes and personages because overwhelmingly they are anti-American themselves.
The path to a real foreign policy rebirth begins at home.
[O]ur goal should be, a government in which 95%-98% of the time it makes no difference to the average American citizen who is president. The US President should matter more to foreigners than to Americans. Except for foreign policy, national defense, times of national crisis, and providing a very broad economic vision, it should not matter who controls the White House. That means keep the government out of as many areas as possible, and where it has been involved deeply and for a long time, try to push the responsibility and resources out to the states, counties, cities, and people.
He adds: Our presidency was not designed to run the country— anybody who thinks that has not read the Constitution. The executive branch is not the country. The president must concentrate on the executive branch and the main tasks assigned it by the Constitution. Do read the whole thing. He makes a lot of sense.
And this new little fellow certainly qualifies. (click to enlarge)