During the campaign, candidate Obama told us he would deliver a “Net Spending Cut” (one instance is near the beginning of this video). He indicated he was a believer in Pay-As-You-Go and would cut wasteful spending to match each spending increase.
What has he delivered and proposed since being elected?
Take a look at this analysis, and this article about the massively different forecast from the “independent” Congressional Budget Office.
The bottom line is that he’s on track towards doubling the national debt. Not just by continuing the horrible Bush administration fiscal irrisponsibility, but “In fact, the budget office found that Obama’s projected deficits are more than double what they would be if the president had merely stuck with the current spending and taxation proposals left by the Bush administration.”
No reasonable person could believe that these are the proposals of someone who intends to produce a “Net spending cut” or to practice his often mouthed “fiscal responsibility.”
Absent a massive increase in productivity and growth (what I’m hoping for), and most of Obama’s policies are extremely anti-growth, we’re heading for debt levels that almost everyone agrees are unsustainable. The pain he’s causing will be severe.
Yes, I know that it’s par for the course for politicians to lie in order to get elected. But, many seemed to be so thrilled by his rhetoric and novelty that they believed something better was really about to happen.
Turns out it’s not better at all. The conservative claims that he was the “Most liberal member of the Senate” seem to have been warranted.
What we’ve been getting so far is: Change You Can Believe In If You’re An Idiot.