Sunday, February 06, 2011

Latest Obama Budget is another insult to our intelligence and prosperity

Obama is talking about "cuts" in the "millions" with an "M." 

Obama is clearly taking the position that Republicans will have to cut if any meaningful cuts are made. He and the Democrats will then jump on Republicans with both feet. Same game as always, only question is how will Republicans respond? Will they wimp out again and send us toward hyper-inflation and national bankruptcy?

The cuts are relatively small, however, in the larger scheme of things. In total, the $775 million in detailed cuts fall far short of demands by congressional Republicans and will do little toward tackling the deficit, which is estimated to be $1.5 trillion this year by the Congressional Budget Office. The cuts are in addition to a five-year spending freeze which the administration says will save $400 billion over the next decade.