Obama claims that his recent budget proposal will make it, “so that every American is equipped to compete with any worker anywhere in the world.” That requires economic growth and prosperity which is everything Obama’s ridiculous budget does not do.
If you looked at the budget assumptions this statement is based on, you would realize just what clowns we have running this circus. Michael Tanner from National Review Online outlines the Unicorns below (italics).
1. Obama got his one year projections wrong by $300 billion and now he’s trying ten years?
Last year, Obama’s proposed budget deficit for the current year was around 1.2 trillion but it’s coming in at about 1.56 trillion. So if Obama is off target in just 12 months by $300 billion, how is it even remotely possible that he would be accurate over a ten year period?
2. Obama’s budget still adds to the debt.
Overall, the president’s budget adds roughly $13 trillion to the national debt over the next decade. By 2020, our gross debt reaches $26 trillion. Where is the “slashing” Obama called for if the debt is rising? Who is paying off this debt…oh yeah, us.
3. Obama says we still need high-speed rail even if the taxpayer is being crushed with debt.
Unprecedented budget deficits, unsustainable debt — and what does the president propose? Spending $53 billion over ten years on high-speed rail.
4. Obama’s budget locks in triple digit increases in government spending.
After raising discretionary spending 21.4% in his first two years, he proposes to “freeze spending” at this new higher rate.
Since 2001, the Department of Education’s funding is up by more than 100%…and yet our schools still suck. The Department of Energy is up 134% and the Department of Agriculture is up 112%. When does this insanity stop?
5. Obama makes government even BIGGER.
Obama’s budget grows the size of government from 23.8% of GDP to 24.8%. Second highest ratio of government spending since WWII.
6. Obama makes taxes go up, UP and A-W-A-Y.
The president’s budget imposes $1.6 trillion in new taxes on families and businesses over the next decade. This includes more than $900 billion in higher income taxes and $435 billion in unspecified transportation taxes. Nothing sucks the life out of an economy like sucking all the money out if it in taxes so government can get bigger and there’s no money left in people’s pockets to spend, or businesses to expand or hire.
7. Obama does nothing on entitlement programs, all $127.5 trillion of them.
Last month, the Congressional Budget Office reported that Social Security had begun running permanent budget deficits. Medicare is facing future budget shortfalls larger than the entire budgets of most countries. In fact, if the unfunded liabilities of entitlement programs were to be included in our national-debt figures, our total future indebtedness could top $127.5 trillion. The president’s response to this looming crisis was to do . . . nothing.
8. Obama bases budget on pie-in-the-sky assumptions, or he asked a Unicorn what it thinks. Hard to tell which.
Obama thinks the economy will grow by an average of 3.6% in 2012 and 4.4% in 2013. That is completely unrealistic. Our economy is running on life support and his assumptions assume some significant growth. That’s much faster than CBO or private economists forecast, and nearly a quarter point faster than the economy has grown coming out of the last five recessions.
9. Obama says all the jobs will come back.
The president also projects a dramatic decline in unemployment, with the jobless rate dropping to 6.3 percent in 2014 and then falling to just 5.3 percent in 2017 and beyond. What a joke. It’s bad enough that the only reason the unemployment rate has dropped at all is because so many unemployed people have used up all their unemployment benefits, that many people have simply given up looking for work, and others have either taken large pay cuts or taken part-time jobs so they are under-employed.
10. Obama says paying for 46.3 million people on health care won’t cost anything.
When was the last time you paid for health care and it didn’t cost you anything?
The administration continues to insist that the new health-care law will reduce the deficit by nearly $200 billion, when an accurate accounting suggests that it will actually increase the deficit by as much as $823 billion.
11. Obama says Universal Healthcare won’t cost anything but includes $465 million to set up the agency for it.
The budget includes $465 million next year to implement the Patient Protection and Affordable Care Act. The Centers for Medicare and Medicaid Services (CMS), the agency charged with implementing most of the law’s major provisions, such as Medicare changes, Medicaid expansion, insurance reforms, and the exchanges, will hire an additional 650 bureaucrats.
12. Obama thinks that federal tax revenues will increase by a whopping 65% in just four years
Obama’s budget projects an increase from $2.2 trillion to $3.6 trillion between 2011 and 2015. That would either require a neck snapping turnaround recovery in the economy or a massive raft of tax increases slammed down on Americans everywhere…or both.
13. In ten years, even if the Unicorn is right, we’ll still owe more money than we do now.
Don’t forget all Obama is saying with this budget is that he will reduce the amount of debt we add to the total debt each year.
Think of it like this, instead of having to borrow $5 every day, you only have to borrow $4…but that’s still $4 of debt you are taking on. Which means every day, month and year that goes buy, all those $4 are just being added to the total debt that you owe.
Obama’s budget does the exact same thing and since his assumptions are all wrong anyway, he won’t even be able to save that $1.