Istook961 Budget Trickery
Recorded on February 15, 2012
From The Heritage Foundation, I'm Ernest Istook. President Obama's new budget is full of tricks.
His claims of spending discipline are just plain false. The President proposes to increase annual spending from $3.8-trillion a year today to $5.8-trillion ten years from now.
Obama's pretense of deficit reduction depends on raising taxes now and then controlling spending years from now. But he offers no such discipline during his own term of office. Obama's team told the media that government austerity would be bad for our economy.
It also misleads the public when any politician talks about deficits rather than total spending or accumulated debt.
Obama's supposed deficit reduction depends on huge job-killing tax hikes—already put in place as part of Obamacare—which kick in two months after the election is over. Only after the election will our economy feel the pain.
How very convenient for Obama.
From The Heritage Foundation, I'm Ernest Istook.