Apr 5, 2009
First the Stimulus, now the Budget...
The Congressional Budget Office forecasts a deficit of 9.6 percent of GDP in fiscal 2010 if Congress enacts President Obama's $3.6 trillion budget plan -- a deficit also much larger than what the president predicted. The difference largely reflects the CBO's economic forecast, which is more up-to-date and, hence, gloomier than the one Mr. Obama relied on. ( This is what happens when you run with the advice that is biased to fit the wishes...and who knows how accurate the CBO forecasts are either, it could be much worse!)
Mr. Obama should treat the CBO report as an incentive to fulfill his repeated promises, during and after the campaign, to make 'hard choices' on the budget. (Every President has had to make sacrifices to their personal agendas, why can't Obama?)
Until now he has offered a host of new spending -- on health care, middle-class tax cuts, education and alternative energy -- without calling for much sacrifice from anyone except the top 5 percent of the income scale. Though his emphasis on controlling health-care costs is welcome, it's not a substitute for reforming the entitlement programs that are the drivers of long-term fiscal crisis, Medicare and Social Security. Yet the president has offered no plan for either and no road map even for achieving a plan. Several members of his own party in the Senate have been expressing doubts about his strategy, and the CBO report will lend credibility to their concerns. He should heed them. (The Dems will be jumping off the Obama train more and more to save their political butts.... before the Train Wreck happens. What we won't forget is it was the Majority who set the train in motion!)
You Are Not Alone....
"Do you watch the direction that America is being taken in and feel powerless to stop it? Do you believe that your voice isn’t loud enough to be heard above the noise anymore? Do you read the headlines everyday and feel an empty pit in your stomach…as if you’re completely alone?" -Glenn Beck
Tea Parties and the 9-12 Project are ways to feel involved.
For more information or to join the movement go to www.theglennbeck912project.com