ObamaNomics: Out of Touch With Reality
Today, the Administration released it’s Mid Session Budget Review, a 75 page document required by law, to update Congress on recent events that could affect the 2010 budget.
On the summary page appears this laughable, yet tragically out of touch fantasy:
Despite the demands put on the treasury to respond aggressively to avoid economic collapse, the President in February put forward a Budget that re-oriented the Nation back to a path toward fiscal discipline.
Once again, this most profligate President ever claims to have some connection with “fiscal discipline.” Astounding!
We will remind the Administration of some facts they apparently think The People are too dumb to remember:
- Candidate Obama stridently campaigned against “irresponsible Bush deficits.” The largest deficit of the George W. Bush administration, was $455 Billion. Obama’s ten year budget projection calls for routine, annual deficits that are double Bush’s largest.
- Two weeks ago, on a Friday evening after most reporters had clocked out, after the President had left Washington for a vacation, the Administration announced that it’s official, ten year, budget deficit projection, already catastrophically high, just grew by a staggering 26%, from $7.1 Trillion to $9 Trillion. The shortcut number format tends to dull the senses so here are the same figures in full numbers:
Previous 10 year deficit projection: $7,100,000,000,000
Revised 10 year deficit projection: $9,000,000,000,000
- These deficit projections do not include the Trillions in additional costs the government will face if ObamaCare is enacted.
