How is President Obama going to stanch the bleeding of red ink and get us on a path of fiscal solvency?
BY ADDING ANOTHER $56 BILLION IN SPENDING.
The president next month will release a political document dressed up as a budget calling for an additional $56 billion for programs in areas such as education, manufacturing and job training.
He will announce, according to the Washington Post, The End of the Era of Austerity:
With the 2015 budget request, Obama will call for an end to the era of austerity that has dogged much of his presidency and to his efforts to find common ground with Republicans. Instead, the president will focus on pumping new cash into job training, early-childhood education and other programs aimed at bolstering the middle class, providing Democrats with a policy blueprint heading into the midterm elections.
It’s just the latest example of Obama floating along, trying to have the presidency he always wanted, while real world concerns like $16 trillion in debt are left for more serious people to deal with down the road.
Don’t worry, at least there’s no new debt. The spending will be “offset” by the spoils from class warfare – that is, taxing the rich. And some spending cuts in other areas.
A political document this is because surely the White House realizes it’s a nonstarter in the House.
Even the small profile in courage Obama planned to paint of himself, a reduction in Social Security benefit increases for some by using “chained CPI,” has been jettisoned as a sop to senior voters.
Senate Majority Leader Harry Reid immediately move to demagogue the issue:
President Obama’s budget will be a powerful statement of Democratic principles. In particular, I commend President Obama for his commitment to keeping Social Security strong, and for rejecting Republican calls to cut badly needed cost-of-living increases.
Obama is scheduled to begin bashing Republicans over the head with his new budget March 4.