Friday, March 18, 2011

Obama budget: He should have used a machete instead of a scalpel

"We've taken a scalpel to the discretionary budget rather than a machete."
President Obama, February 14, 2011.

Well, I can say with certainty the the president did not use a machete on his proposed budget:

From The Hill:

The Congressional Budget Office on Friday released its analysis of President Obama's 2012 budget proposal and found it does less to rein in deficits and the debt than the administration had estimated.

CBO estimates Obama's plan would produce 10 years of deficits totaling $9.5 trillion. By 2021, it would increase the debt held by the public to 87 percent of gross domestic product.

The administration, using different methods, estimated budget deficits would total $7.2 trillion over the next 10 years under the 2012 budget. It forecast that total debt in 2021 would be 77 percent of GDP.

The White House also said total deficits over the next decade would be $1.1 trillion more without the recommendations included in Obama's budget.
Did Obama even bother with using a scalpel?

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