Now that Obama has officially unveiled this year’s blueprint for Democrat pork, the only mystery is whether Obama will actually get a vote for his new budget. Last year his budget never made it to the House and received not a single vote when presented in the Senate, going down 0-97.
With Obama proposing another $2.2 trillion in deficit spending just for this year and next, plus uber tax increases for people not named Warren Buffett- tax increases, by the by, are always very popular in an election year <eye roll>- look for Democrats to keep their record intact for governing without a budget.
1001, 1002, 1003, 1004 …just keep counting. But don’t hold your breath.
“The time for austerity is not today,” said the most under-worked guy in DC, Jacob Lew, Obama budget guy-turned-chief-of-staff on NBC’s Meet the Press on Sunday. “If we were to put in austerity measures right now, it would take the economy in the wrong way.”
There are a bunch torch and pitchfork types in Greece who would likely agree with him, if they could stop burning down buildings for a day or two.
Get it? The guy who was responsible for the non-budgets now is running the whole really big shew at the White House. Only Obama could give a promotion to a guy who couldn’t even get budgets passed by his own party, yet alone reach a compromise with the GOP
Look for the budget to go down by more than 97 votes this time.
This is the same Obama who was preaching cutting the deficit back in July, pretending he was a deficit hawk.
I’d like to say that he was either lying to you then or lying to you now. But who are we kidding? He was lying to you then and now. And if you wait a few months he’ll lie on the budget again. The Obama budget is a lie wrapped in a theory inside a stimulus.
And that ladies and gents is why S&P downgraded US sovereign debt. Obama may be fooling someone, but it’s not the credit rating agency. They know the administration is lying about anything, everything. Heck even liberals know it.
From the liberal New Republic:
Treasury officials felt that if S&P moved ahead with this decision [to downgrade the debt], the company would only embarrass itself, not the U.S. government. In this vein, Geithner simply informed the visitors that his country’s economic performance had exceeded S&P’s expectations on almost every measure it claimed to care about. As for the one where it lagged—the deficit—Geithner pointed out that the president had proposed cutting it by $4 trillion that very morning.
The de facto spokesperson for S&P, a mustachioed man named David Beers, confessed that the group’s concerns were really about politics, not economics. The administration’s ambitious deficit plan was all well and good, but the prospects for actually enacting one were vanishingly remote. Beers and his colleagues didn’t think Republicans would take the president’s deficit plan seriously. The parties were simply too far apart.
Remember that messy mini meltdown that happened in the markets and the economy while Obama was on vacation after the debt ceiling debate came up with super dumb Super Committee?
Oops. It turned out like every other arrogant assumption this administration has made. Wrong on bailouts, wrong stimulus, wrong on healthcare, wrong on energy, and wrong once again on budget.
Geithner thought his hair would overawe the guys from S&P.
Turns out he was wr-r-r-r-ong, and “the S&P officials were right,” reports the New Republic. “For the better part of the next four months, the administration would be mired in painstaking negotiations with Republicans over a series of dead-end deficit deals, even as the economy teetered on the edge of a second recession.”
So in parody of Groundhog Day, Obama selected a do-over option, complete with the gag budget he first presented in 2009, 2010, 2011.
But this time there will be no compromise in the summer or false talk about cutting the deficit.
This time Obama is going down with the ship, even if he takes the Democrats, Wall Street, Main Street and Occupy Oakland with him in the process.
The only question that remains now is how many Democrats will self-immolate along with president Koresh.
Tomorrow will mark one year since I joined Townhall and we re-launched Townhall Finance.
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