The Obama Budget: Heritage Experts’ Analysis "First, this budget is more than 60 days late (a whopping new record). The President had a statutory responsibility to deliver a budget proposal to the Congress on February 4. He did not do that, launching instead his “charm offensive.” The President’s budget is supposed to open the budget policy debates, giving the House and Senate his vision and agenda for them to consider as they develop their own budget plans. Not this year." Much more in depth in the article. Massive New Government Preschool Initiative is discussed as is the "chained CPI".
The Foundry gives this concise summary of their objections to the Obama budget: "President Obama finally released his budget yesterday—more than two months late.
"Heritage experts immediately went to work analyzing the mounds of new spending on education, manufacturing, “clean energy,” infrastructure, and small business.
"But the President didn’t stop at more of the same failed stimulus and Solyndra-type policies. He also piled on the tax increases—including on seniors, the poor, and the middle class.
"Five key things to know about President Obama’s budget:" Excerpts below:
1. It hikes taxes by $1.1 trillion....
...“There was little doubt that President Obama would propose a huge tax hike in his budget. It is a bit surprising, however, that the total tax increase he proposes is almost double what he claims it to be.”..
2. It underfunds defense....
...“While boosting domestic spending, the President remains indifferent to national security needs...
3. It doubles down on Obamacare....
The Obama budget actually expands parts of Obamacare and even includes new changes to Medicare that create two sneaky new “taxes” on seniors
4. It doesn’t balance and never will. ...
...“Because the budget never balances—it doesn’t even try—debt remains at dangerously elevated levels.”...
5. It’s irrelevant....
...The House and Senate have already passed their own budgets, and the next step is for the two chambers to come together to see if they can hash out a budget that both chambers can pass. At this point, why is the President bothering?
Stephen F. Hayes: Obama's Budget to Contradict 'Consensus Among People Who Know the Economy Best' "How will raising taxes boost the economy? It won’t.
The Foundry gives this concise summary of their objections to the Obama budget: "President Obama finally released his budget yesterday—more than two months late.
"Heritage experts immediately went to work analyzing the mounds of new spending on education, manufacturing, “clean energy,” infrastructure, and small business.
"But the President didn’t stop at more of the same failed stimulus and Solyndra-type policies. He also piled on the tax increases—including on seniors, the poor, and the middle class.
"Five key things to know about President Obama’s budget:" Excerpts below:
1. It hikes taxes by $1.1 trillion....
...“There was little doubt that President Obama would propose a huge tax hike in his budget. It is a bit surprising, however, that the total tax increase he proposes is almost double what he claims it to be.”..
2. It underfunds defense....
...“While boosting domestic spending, the President remains indifferent to national security needs...
3. It doubles down on Obamacare....
The Obama budget actually expands parts of Obamacare and even includes new changes to Medicare that create two sneaky new “taxes” on seniors
...“Because the budget never balances—it doesn’t even try—debt remains at dangerously elevated levels.”...
5. It’s irrelevant....
...The House and Senate have already passed their own budgets, and the next step is for the two chambers to come together to see if they can hash out a budget that both chambers can pass. At this point, why is the President bothering?
Stephen F. Hayes: Obama's Budget to Contradict 'Consensus Among People Who Know the Economy Best' "How will raising taxes boost the economy? It won’t.
"In fact, Obama not long ago argued that raising taxes in a fragile economy would dampen growth, hurt business and create unemployment."
The economy that Obama worried about in early 2010 was coming off of a fourth quarter growth rate of 5.6 percent. Three years later the economy is growing at .4 percent. If Obama thought it was unwise to raise taxes with the economy growing at 5.6, why is it imperative to do so with the economy growing at .4 percent?
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