Obama Budget Tricks
Recorded on February 15, 2011
It's time for common sense; I'm Ernest Istook.
Gimmicks are common in political budgets. But the new proposal from President Obama may set a new record.
For starters, his claimed ten year total of spending reductions is less than a single year of the deficits he proposes. You thought his previous $1.4-trillion deficits was bad? Now he wants to push it up to $1.6-trillion.
Obama brags that he's going to cut discretionary spending by 5 percent. But he does it by redefining huge amounts as mandatory spending rather than discretionary. Take away the word games and he 's adding $14-billion, not cutting anything.
And in the name of deficit reduction, he proposes 15 new tax hikes. On air travel, on gasoline, on capital gains, and many more. The whole budget is a surprise package—and not all surprises are good.
For common sense, from The Heritage Foundation, I'm Ernest Istook.