No one has ever called BO a deficit hawk & his just released budget for fiscal 2012 that begins on October 1, 2011 keeps his record intact. For instance there are $8 trillion of cumulative federal deficits that will occur over the next ten years under present law if no action @ all is taken. Under BO's budget these cumulative deficits are projected to be $7 trillion meaning the fiscal train wreck continues right before our eyes.
Republicans talked a good story in the 2010 campaign but now, other than Rand Paul, they are shying away from significant spending cuts. And for good reason if their primary goal is to get re-elected - appealing to the scores of millions of Americans who receive government checks every month under one program or another does not include cutting their constituents' favorite programs. Pew Research found that only 12% of people surveyed want to cut spending on Social Security or Medicare & of course this is where the big budget money is. Do you personally want to rein these programs in or just let them go on hoping the future will be OK?
Even one third of people who identify themselves with the Tea Party back off when they realize some of their own government programs could be cut. These people are with the spending-cut-control program in theory but the practicality of the matter when it directly affects them overrides. How lazy & short sighted.
But the worst part is that BO's budget proposes adding 5,100 IRS agents. The total 2012 IRS budget will increase to over $13 billion. Spending $13 billion to find taxes from businesses & high income earners does not sound like a winning economic formula for creating jobs to me. Also add as many as 16,500 new IRS employees in 2014 to enforce ObamaCare (from an analysis conducted by the House of Representatives' Joint Economic and Ways and Means Committees on March 18, 2010) or to otherwise issue tax credits, penalties, or just help administer the new healthcare law (per FactCheck.org) & there is plenty of room for mischief from these people, however many there are, who will not create wealth or anything else of value.
A subscriber to ReturnToExcellence.net has the best & quite possibly the last answer for us re this mess, if we are to come out of it any time soon, when he responded to Sunday's posting re the high percentage of the working population who are employed by the state in the Middle East & North African countries that are undergoing so much protest & turmoil:
"Doug - Thanks for passing along this article. This has clearly pointed out to me one obvious omission I have made in discussing the need for money to come in to an economy from outside its economic sphere. What I had said, I guess, sort of implies that government workers paying taxes to employ other government workers certainly does not build an economy any more than us serving one another hamburgers and selling one another products made in China.
"This article only goes to further fuel my fire to champion our last hope for saving the American economy and the American dream, and that is the FairTax."
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