Posted on | February 14, 2012 | 10 Comments
“The American people have spoken loudly for the past three years, demanding fiscal responsibility from our leaders and President Obama is either deaf or simply won’t listen. Today’s proposal of nearly $4 trillion in spending over the next year is preposterous, not only in overall funding but in priorities. If we do not get our spending under control, we will have turmoil in the streets — and that’s not a guess — all you have to do is look to Europe. America needs to lead, and America needs a leader prepared to make those tough choices. I am committed to balancing our budget and cutting $5 trillion in spending in five years. These are the measures necessary to not just put our nation’s fiscal house in order, but to spur on economic growth and confidence in our free-market system.”
– Rick Santorum, press release, Feb. 13
Among other things, Obama’s $4 trillion budget includes special economic aid to countries involved in the “Arab Spring”:
Most of the economic aid for the Arab Spring countries — $770 million — would go to establish a new “Middle East and North Africa Incentive Fund,” the president said in his budget plan. . . .
The Middle East and North Africa Incentive fund “will provide incentives for long-term economic, political, and trade reforms to countries in transition — and to countries prepared to make reforms proactively,” the White House budget document said.
All in all, Obama has proposed some $1.6 trillion in new taxes over ten years, taking tax revenue as a share of GDP to 20.1 percent in 2022 vs. a historical average of 18 percent. And despite all those new taxes, Obama’s plan would still add $6.7 trillion in new debt and make no progress in lowering the nation’s total debt levels as a share of output. The debt-to-GDP ratio is predicted to be 74.2 percent this year and 76.5 percent in 2022.
Tina Korbe at Hot Air quotes Rep. Paul Ryan: “We have a debt crisis on our horizon. . . . For the fourth year in a row, he’s decided to do nothing about it and he’s actually created a budget to make it much, much worse.”
Did somebody say “worse”?
Remember when Obama told Joe the Plumber he wanted to “spread the wealth”? Obama didn’t say that this would involve taking money from poor kids to give it to rich people who buy Chevy Volts.
If Democrats told the truth, nobody would ever vote for them.