That wasn’t a budget Barack Obama delivered to Congress. It was a campaign document. It was full of promises of “fairness,” which to our President and his cronies means taking more money from those who earn it and giving it to those whom they think deserve it. “From each according to his ability, to each according to his need.” Karl Marx said it first.
Obama’s budget for the 2013 fiscal year, which begins Oct. 1, calls for total Federal expenditures of $3.8 trillion. That’s a 0.2 percent increase in spending, but somehow the number crunchers claim it includes a ton of reductions.
Of course all those “savings” are just a mirage. You have to understand that in Washington, if you agree to slow the rate of growth of some bureaucracy, you can claim all sorts of credit for reducing the budget. Funny, but somehow we taxpayers always end up paying more.
For the past four years, the Obama Administration has run a deficit of more than $1 trillion. That’s more than $4 trillion added to the deficit in just one term — something that has never happened before in our history.
But there’s good news for next year — that is, if you accept all of the rosy assumptions the Obama budget contains. If revenues don’t go any higher than projected and tax receipts rise as much as predicted, the deficit for Fiscal 2013 will be a mere $901 billion. Isn’t that wonderful?
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Chip Wood (photo)