As of now, I am in control here, in the White House

Utterly Irresponsible

The most astonishing thing about the budget President Obama submitted today is that he is not even pretending to try to do anything about the debt and the deficit. NOT EVEN FAKING IT. Okay, he’s faking it a bit. He’s pretending the deficit won’t go up. So let’s give credit where credit is due!

And credit, so to speak, is the name of the game here. You see, this is the first president I remember who proposes budgets and doesn’t even offer a path toward eliminating the deficit so our kids don’t have to finance our indulgence.

The deficit, Obama asserts this year, is okay. It’s all cool. What’s a mere deficit in comparison with the grand plans of great men? We’ll just run a deficit that rises in nominal terms but stays at about 2.5 percent of the economy, the “norm” over the last few decades.

EXCEPT THE NORM HAS RESULTED IN $18 TRILLION OF DEBT AND INCLUDES YEARS DURING WHICH THE DEFICIT SOARED OVER $1 TRILLION.

That’s okay? What type of ethic is it that says to go and be profligate and don’t worry about piling on debt?

Obama Oval child
Obama consulting with his chief budget advisor

The deficit will decline to $474 billion under the president’s plan, and then rise to nearly $700 billion over ten years, while staying at roughly the same high level as a percentage of GDP, while total debt also rises nominally but stays at about the same percentage of the economy.

But look at the assumptions. Obama thinks that somehow the economy will grow at 3 percent this year and in 2016, which it hasn’t done so far during his  term. He assumes unemployment declines to 4.8 percent. That we will allow soaring Medicare and Social Security costs to squeeze out other “investments” and that the economy can withstand the $1.44 trillion in new taxes Obama has planned for us.

But here’s the real kicker: The forecast assumes no future recessions of any significance and of course doesn’t work in a major terrorist attack or a new war, any of which would send the deficit soaring again. That is, we’re planning to be in bad shape, and when the inevitable catastrophe occurs, we’ll be in really bad shape.

This is irresponsible. It’s juvenile. And it’s dangerous. How can the leaders of a great nation make such plans?

Obama would do nothing – absolutely nothing – about the future entitlement meltdown. Leave it for someone else. This would be way to hard for someone who can barely lift the phone to call Capitol Hill.

If you want a sense of this – according to the budget documents produced by the OMB, outlays in the federal budget for Social Security and Medicare are expected to double over 11 years from $1.35 trillion in 2014 to $2.6 trillion in 2025. Where’s that money coming from? Current payroll taxes will pay for only a portion of it, and an increasingly small portion. You didn’t think Social Security and Medicare were self-financing, did you?

By delaying decisions on what to do about entitlements, Obama is making future solutions far more onerous. By failing to rein in the deficit, the president is putting America out on a tenuous, brittle limb.

But who cares? As long as we have free birth control and free community college, all is well in the land.

Share on FacebookTweet about this on TwitterShare on RedditShare on LinkedInEmail this to someone

25 Responses to Utterly Irresponsible

  1. But Keith!
    none of your buddies in the “media” (even FoxNews) will ever the FACTS!!! that socialist Obama (call him what he is) & his regieme & and the cesspool of the US Congress even care about the US National “debt” or “deficit”…

    (because Washington DC is a ‘Boom Town’! -it takes over $100,000+ just to live down there)

    • I agree. I have Shep on mute. He has all those fancy screens. I would appreciate him taking this article and putting the numbers on the screen.

  2. On target, spot on, and all that. I agree 100%.
    The big problem with any kind of sensible, economic plan is that there are so many millions of us who depend on those gummint handouts, and the number grows every day.
    From the welfare handouts, to the SSA with the addition of the newly disabled, there will be more of us than there will be those to pay into those funds.
    Who gets cut, what gets cut. Not me – I’ll starve in the desert, not them – they’ll just starve in the street. Not the military, not the agencies we all depend on for this or that good thing.
    So who, so what and how much?

    Is there waste, is there fraud, can some agencies be eliminated altogether? sure. But, who will do that – the Repubs, no they won’t.
    Other than ditching the dollar, making a new form of finance for all of us, we’re stuck.
    Stuck as deep as the PaydayLoan suckers are.

  3. Can I hear the word “impeach”? He’s just going to tie up Congress — or attempt to –for the remaining time he has in office as well as to continue dividing the country. What use is he? None.

  4. Well, we the people certainly gave the House and Senate a mandate to stop Obama’s wildly incompetent and foolish leadership fails. But we know they’re much more concerned about how they “will look” putting certain pet liberal causes on the chopping block. Obama knows this and plays them like a fiddle. So sick of them all.

    • But we know they’re much more concerned about how they “will look” putting certain pet liberal causes on the chopping block.

      I think that we should be sure to let them know how they look if they fail to stand up to him and his agenda.

  5. I am TOTALLY WORN OUT by obama’s erratic and irresponsible behavior.

    Obama could kill, skewer, roast and eat a baby on live national television and the liberal medial would still stand by him. Probably compliment him on his table manners

  6. You nailed it basically in tge last sentence,this budget is all about making the republicans say no to all the free stuff. This builds Obamas & the Dems narrative that republicans are evil & against everyone but the rich & large corporations that make profits overseas. By forcing republics to say no to free stuff & new taxes on the rich & overseas profits. Sadly most voters only listen to the 5 sec sound bites on the news & read headlines, both will now say evil republicans say no to free stuff, hate women & children & eat little cute cuddly puppies & kittens for snacks!!

  7. Homer Simpson economics is supreme to anything Washington can dream up. As Grandpa use to say,” it so easy to spend other peoples money”

    • You are correct. I can remember like yesterday hearing one or/and the other (grandfathers) stating that.
      Another one: Politicians are all crooks.

  8. Debtor’s Prison for politicians who put us in debt. Simple, straightforward and oh so delightful to contemplate. And I still believe in the Tooth Fairy. And that Seattle will throw the ball when they’ve got 2nd and goal on the 1 yard line and they have Marshawn Lynch. Hah!! Fantasies all. What’s that Honey? They DID throw the ball!! Well, maybe ANYTHING’S possible after all!!!

  9. Obama never thought we were a great nation to begin with…so as a result all the anti-Americans voted for the supreme anti-American and voila…here we are.