If you include all the appendices, there are thousands of pages in the President’s new budget.
But the first thing I do every year is find the table showing how fast the burden of government spending will increase.
That’s Table S-1 of the budget, and it shows that the President is proposing $41 trillion of spending over the next 10 years.
But perhaps most relevant, he wants the federal budget to be $2 trillion higher in 2023 than it is today.
And this is based on the White House’s dodgy assumptions. The numbers almost certainly will look a bit worse when the Congressional Budget Office re-estimates the President’s budget.
By the way, there’s a reason the above chart looks familiar. It almost identical to the ones I put together last year and the year before. So give Obama points for consistency. Rain or shine, year in and year out, he proposes that government spending should rise by $2 trillion every time he proposes a budget.
He’s also consistent in that he demands higher taxes. Americans for Tax Reform has a list of the “Top 10″ tax hikes in the President’s budget. Most of them are based on the President’s class-warfare ideology, though he also wants to hit lower-income people with a big hike in the tobacco tax.
NEW TIME Today, at 9:30 AM PT: Get the Market Movements in Advance: William's Edge Webinar for January 30th, 2014 | John Ransom
NEW TIME Today, at 9:30 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for January 28th 2014 | John Ransom
NEW TIME Today, at 9:30 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for January 26th, 2014 | John Ransom