I’m just starting to read the “Terminations, Reductions, and Savings” book put out by the Office of Management and Budget and I know that we have been pounding on the Obama Budget’s outrageous spending that is creating a $1.3 trillion deficit in the first year but I think that we are missing the big picture that we should hit him on.
Now we have all heard this but I don’t think it is sinking in to the general mind of the taxpayers out there…in the 3rd paragraph of the introduction they point out:
“the Budget will cut the deficit in half by the end of the President’s first term,”
So lets put that into perspective for a moment…the current budget deficit from Obama’s budget, for 1 year, will be greater than all of the budget deficits that President GW Bush had during his second term in office and they expect that they will be able to reduce the deficit to half, or $650 billion, by the end of Obama’s first term.
Using simple math (CBO’s numbers): $1.38 trillion + 970 billion + 658 billion + 672 billion = $3.68 trillion which is about the amount of money he is looking to spend this year alone!!!
But lets not stop there the quote I have above continues:
“and the Administration will bring non-defense discretionary spending to its lowest level as a share of GDP since 1962.”
Really?!? I think they are trying their hardest to look good because the CBO shows that the discretionary spending on non-defense as a % of GDP in 1987-1991, 1996-2001, and again in 2007 were all below the % of GDP in 1969 (don’t ask me the CBO report only goes back that far and I have not had time to search the site for further data yet.) They are whitewashing the fact that they are going to grow spending during this time including:
“a historic down payment on health care reform”
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