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February 2, 2010
Hilarity Alert: Obama Says 'We Have Made Historic Strides ... to Cut Wasteful Spending'
Topics: Political News and commentariesIn his budget message to Congress Monday, President Obama said, "Already, we have made historic strides ... to cut wasteful spending."
And, as CNSNews points out, Obama had the effrontery to make the comment while presenting a budget proposal that for the second year in a row would fix federal spending at a percentage of Gross Domestic Product that is higher than at any time in the past 65 years:
In both fiscal 2010 and fiscal 2011, Obama's budgets would have the federal government spend more than a quarter of the all the wealth produced by the nation in that year.For a quick visual of just how irresponsible Obama's budget really is, check out the seven jaw-dropping charts on Obama's 2011 budget.No president since Franklin Delano Roosevelt has consumed such a large a share of the nation's wealth through federal spending--and FDR did it in the midst of World War II.
According to the historical tables that the White House released with President Obama's budget yesterday, the federal government will spend 25.4 percent of GDP in fiscal 2010, the federal budget year that will end on September 30. Under the new budget that Obama is proposing for fiscal year 2011, the federal government will spend 25.1 percent of GDP in fiscal 2011, which begins on October 1.
Both of these budgets fall wholly within Obama's term of office and would be approved by a Democratic Party that controls both houses of Congress.
Related: Obama's Secret Slush Fund (Obama and Budget Director Peter Orszag have thrown transparency out the window and created a black box for taxes and spending on climate change hidden inside the administration's 2011 budget.)
Posted by Richard at February 2, 2010 1:03 PM
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- Hilarity Alert: Obama Says 'We Have Made Historic Strides ... to Cut Wasteful Spending' - Feb 02, 2010
