Can't spend lots of time here today but wanted to record a thought about President Obama's recently released budget proposal. This is a budget that reflects more spending and debt rather than less.
As we've noted before, this president knows how to talk. But actions speak louder than words.
My sense is that the president wants to force the hand of Republicans who have also been talking a good game related to austerity. If Republicans do get tough here, then Obama can paint them as the bad guys who want to take away people's entitlements, or who want to tank our 'nascent recovery.'
Will be interesting to see if Republicans truly step up. And how the American people respond.
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2011 Receipts $2.174 Trillion
2011 Outlays $3.819 Trillion
As reported by the Office of Management & Budget
2012 Receipts $2.627 Trillion
2012 Outlays $3.729 Trillion
As reported by the Office of Management & Budget
How does spending 42% more than government collects constitute a sound budget?
Govt math...
An exceptional projected increase in receipts of approx. 21% with U-6 unemployment over 15% as reported by the BLS.
Isn't that how it's supposed to work? The President proposes a budget, then Congress debates the budget, passes it into law, then the President signs or vetoes it.
So I guess if the GOP fails to truly cut spending, they can point their fingers are the President??
The GOP may try to do just that. But public less likely to buy it this time.
So pressure is on GOP here. Will they get out the machete and make some real cuts, or will they cave to their SIGs as Democrats have done?
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