Monday, February 14, 2011
Obama's Lamentable Budget
President Barack Hussein Obama intends to reduce the deficit by a little more than one trillion dollars over the next decade, if his budget is implemented as proposed (which the now GOP-controlled US House of Representatives will never permit). The Obama plan includes socking it to the so-called rich with tax increases in yet another class envy game that will actually if put into practise only harm job creation that much more. The Republicans in the US House will no doubt release their own budget with deeper cuts to social programs, but Obama's allies still control the US Senate, so it is less than certain any meaningful compromise on the forthcoming budget may be reached and the business of government may well be funded by a series of continuing resolutions rather than a formal comprehensive agreement.