Obama's Budget: The Decline and Fall of the American Economy

icedancer2theend

icedancer2theend

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President Obama’s budget released Monday embodies his policies for economic growth and recovery. The document, including the President’s accompanying budget message, makes those policies quite clear. If you think the key to economic growth and prosperity is increased government spending, financed by increased tax rates on job creators, investors and small business, with sustained record deficits and soaring debt, then President Obama is your man. If you think that is nuts, then what the budget says to you is your only choice is to get him out of office.


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Obama explains in his budget message, “To succeed and thrive in the global, high tech economy, we need America to be a place with the highest-skilled, highest-educated workers; the most advanced transportation and communication networks; and the strongest commitment to research and technology in the world. This budget makes investments that can help America win this race, create good jobs, and lead in the world economy.”

In other words, in plain English, what drives economic recovery and growth is government spending. And Obama follows through on that in his new budget, with federal spending for 2012 projected to total $3.795 trillion, an increase of over 27% during his first term alone, up another $193 billion from the last year. In fact, the President’s own proposed budget projects federal spending to soar by 2022 to $5.820 trillion, the highest government spending in world history. Over the next 10 years, federal spending, with all of President Obama’s talk about spending cuts, will total $47 trillion!
 
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