Federal welfare spending will skyrocket 80 percent over the next decade, according to new analysis by the minority side of the Senate Budget Committee. Here's a chart, provided by the committee, detailing the growth in spending:
At his press conference today, President Obama showed that he either thinks he can pull the wool over Americans’ eyes through the sheer force of his own outrageous rhetoric, or else he really believes his own rhetoric and is living in a fantasyland. The guess here is that it’s a roughly even mix of the two.
White House spokesman Jay Carney said yesterday that "deficit reduction is not a worthy goal unto itself":
"Most importantly because deficit reduction is not a worthy goal unto itself," said Carney, talking about government spending. "This is all about making our economy stronger, making it more productive and allowing it to create even more jobs. That is the most important thing when it comes to economic policy as far as the President is concerned."
Having avoided the "fiscal cliff," we will now be in jeopardy of breaking our necks when we collide with the "debt ceiling." The responsible thing to do, we are already being told by the New York Times is ... to raise the ceiling:
After Congress agreed temporarily to avert the "fiscal cliff" last night, President Barack Obama hailed the deal in brief remarks delivered from the White House, and then headed to Air Force One to take a midnight flight to Hawaii. Obama had left his family days earlier to return to Washington to deal with the "fiscal cliff."
A Democratic member of Congress is moving to block President Barack Obama's congressional pay increase. The move, led by John Barrow of Georgia, is to prevent the pay increase that Obama issued through an executive order from going into effect.
Spending will increase 55 percent over the next decade, if President Barack Obama's budget plan goes into effect. The finding comes from the Republican-side of the Senate Budget Committee, which notes that Obama's "Proposal Would Spend $880 Billion Over Already Projected Increases."
It has become increasingly clear that the Obama-era Democrats view every major societal event as a new invitation to spend money, centralize power, or both. The horrendous shootings in Connecticut have the Democrats lobbying not only for new legislation, but new federal legislation — and hence more federal power — rather than entrusting the passage of any such legislation to the states. Meanwhile, the damage from Hurricane Sandy has the Democrats looking to do the only thing that they might enjoy even more than enacting cumbersome legislation — spending borrowed money.<
Since Washington and the mainstream press corps are pretending that our deficit woes are the result of a roughly equal blend of excessive federal spending and insufficient federal taxation, let’s review the evidence. According to official government figures published by the Congressional Budget Office (CBO), in fiscal year 2008, the federal government took in $2.524 trillion and spent $2.983 trillion. So the
The fiscal cliff is a diversion, designed by politicians to conceal their inability to come to grips with the fact that they continue to spend too much, and refuse to reform a tax structure that reduces the competitiveness of American companies in world markets. No matter what deal is cut, whether before or after the new year, it will at best nibble at the edges of the trillion-dollar annual deficits that are being piled up.