John Ransom

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.

John Ransom

John Ransom’s writings on politics and finance have appeared in the Los Angeles Business Journal, the Colorado Statesman, Pajamas Media and Registered Rep Magazine amongst others. Until 9/11, Ransom worked primarily in finance as an investment executive for NYSE member firm Raymond James and Associates, JW Charles and as a new business development executive at Mutual Service Corporation. He lives in San Diego. You can follow him on twitter @bamransom.

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