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Demmer on Obama Budget: "More of the Same"
The President promised change both on the campaign trail and again in the State of the Union last Wednesday, but the budget he proposed yesterday is simply more of the same – an attempt to spend our way to prosperity that will result in increased taxes, larger deficits, and more debt.
Under President Obama’s plan, the federal government will run the largest budget deficit in the history of the country. Even after accounting for trillions of dollars in proposed new taxes, nearly half (42%) of the money the federal government will spend in FY 2011 will be borrowed. His plan will increase not only the national debt, but also adds significantly to more than $65 trillion in unfunded future entitlement obligations, for which there is absolutely no plan to address. In the face of these staggering challenges, the president’s answer is to order a partial spending freeze, make a few anecdotal suggestions for waste reduction, and form a commission to pass the buck and let someone else do the heavy lifting to balance the budget.
That is not the leadership the American people expect, nor is it the change they were promised.
It is clear that the President is trying to give the impression of restraint and moderation as we head towards mid-term elections, but this political sleight of hand will not change the facts – this administration and congress are smothering our children and future generations with a massive burden of debt as they try to spend us into prosperity. Any family or business struggling to pay its bills knows that you can’t go out and spend more hoping for the day things will turn around; it sets priorities and takes real steps to keep spending within its means.
The President’s budget also includes a so-called second jobs stimulus bill at a cost of over $100 billion. With the job-creating effectiveness of the first $800 billion still in question, why should the American people support throwing more money at the same ineffective solutions?
Government doesn’t create jobs; the private sector does. The government’s role is to provide a stable and supportive environment in which businesses and employees can succeed and prosper free from excessive government intervention and regulation. Plunging our nation deeper into debt does not create the rock-solid foundation needed for economic recovery; it mires our revitalization efforts deeper in the sand. The new “jobs bill” the President is asking for includes some items (such as tax credits for small businesses that hire new workers) that have merit, but these initiatives pale in comparison to the shackles being placed on job providers by proposals such as “card check”, “cap and trade”, and the government takeover of our healthcare industry.
We don’t need a budget commission to tell us we are overspending. Nor will political posturing cover it up. It will take leadership in Washington that exhibits fiscally responsible judgment; leadership that focuses on the same common sense spending priorities that families and businesses across the country are using to get through these tough economic times. Our elected officials need to step up, or they need to be replaced.
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