The President’s budget, released a week late, is a dollar short - or a trillion to be exact. It soars our deficit to $1.33 trillion for FY2012, making this year’s deficit higher than last. Clearly we are moving in the wrong direction.
The cure for our financial fiasco? According to President Obama, more taxes.
Extreme government overspending got us here and this budget does nothing to address that. In fact the President’s budget spends $47 trillion in ten years, a net increase over current projections that’s coupled with a $1.9 trillion in new taxes.
The solution is not to raise taxes to continue living beyond our means. Wyoming’s citizens have demanded their state legislature balance the budget in hard times by cutting waste and spending less, not taxing more – Washington could take a lesson in fiscal responsibility from Wyoming.
The President’s budget falls short of addressing real entitlement reform, a crucial step to get government spending under control. We need to curb the exploding costs of these programs, not kick the can down the road until after the election.
The President’s proposal is an un-serious budget with very serious consequences. This is no way to run a household let alone a business and certainly not a country.