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The president sent a $3.73 trillion spending — er, I mean, “targeted investment” — plan to Congress.

By the way, the question in the title is rhetorical. Whether or not they’ll blame Bush is a no-brainer; I’m just wondering who will be the first out of the gate this time to blame him for this:

The president’s projected $1.65 trillion deficit for the current year would be the highest dollar amount ever, surpassing the $1.41 trillion deficit hit in 2009. It would also represent 10.8 percent of the total economy, the highest level since the deficit stood at 21.5 percent of gross domestic product in 1945, reflecting heavy borrowing to fight World War II.

Of course, there are supposed “spending freezes” and “savings” closing tax loopholes and assorted tax increases that are alleged to amount to $1.1 trillion in “deficit savings” by 2022, but year after year we hear this from Washington and the deficit does nothing but accelerate and strangle the country to death.

To see Obama’s “tough budget cuts” demonstrated in graph form, click here.

Michelle M. notes an analysis of the budget from ABC News: “At no point in the president’s 10-year projection would the U.S. government spend less than it’s taking in.”

And yet this all magically saves money and cuts the deficit in the long run… somehow…

Don Surber wants Republicans to cut up O’s credit card pronto.

Update: By way of HAP, here’s then-Senator and presidential candidate Obama blasting Bush’s $500 billion budget deficit. Sort of makes you long for the days of that kind of fiscal responsibility, doesn’t it?

Comments

11 Responses to “Obama Submits $3.73 trillion 2012 Budget: Will They Still Blame Bush?”

  1. Marshall_Will on February 14th, 2011 2:06 pm

    "It would also represent 10.8 percent of the total economy"

    No sweat! In P' BO's mind that means he's got like 95% and 57 States 'left' to go! Folks, this O' hole would sell Alaska BACK to the Russians if he thought he could get the slightest smidgen of add'l leverage for his Social Justice programs.

    Actually selling AK would serve (2) purposes.., ( he could get even w/ that Tea Party gal up there at the same time! ) Red states would be first on the auction block while Blue-Blackhole States would be preserved at all costs!

    OK-Loyalist can look forward to becoming a New China ( Territorial ) 'resident' if that's what it takes to 'fund' another 10 mos. of O'care. Do… write old buddy?

  2. Doug on February 14th, 2011 2:29 pm

    Ha! Yeah, to Team Obama that means that the government is only functioning at 10% capacity — and that's irresponsible!

  3. Marshall_Will on February 14th, 2011 2:35 pm

    Seeing as 'civility' is never far from our minds, I'll leave it to you as to whether this is'OT'.

    http://www.katu.com/news/national/116158929.html

    Over the weekend, it really struck me how much 'civility' and FIDELITY have in common. In fact, you can't 'have' [fidelity] WITHOUT civility! It isn't even about 'politics' per se`, this is more about basic human interaction and adult relationships.

    See… like civility, fidelity ( in the marital sense ) isn't something you can just flip off or on like a light switch. You can't go to your spouse and say.., "O.K, I'm going to be faithfull to you starting… NOW"! Or next week, or… Well, not that one 'couldn't' just that it wouldn't exactly be 'fidelity' now would it?

    Likewise, you can't be civil one moment, and UNcivil the next! Well, at least not with the expectation I'll be around to subject myself to your abuse much longer?
    Don't both imply there is some duration in the whole arrangement?

  4. SignPainterGuy on February 14th, 2011 2:38 pm

    OK_Loyalist is busy toting 90 lb bails of hay into his barn. Up rolls a US Giverment white Chevy Volt and out steps everyone`s fave troll, Nick, who says, "I`m from the government and I`m here to help." Nick then picks out 2 stems of straw from each bail and smiles .

    Does OK blame Bush for the bailer setting, tight and heavy ?
    Does OK thank Nick for the generous assistance ?
    Or does OK yield to the urge to slap that silly grin off Nick`s face ?

  5. Marshall_Will on February 14th, 2011 4:25 pm

    Mean like this?
    http://en.wikipedia.org/wiki/File:Components-of-t

    If that don't scare you nothing will. Yep, lots of wiggle room left in those horrid "inefficiencies"!

  6. nannykins on February 14th, 2011 5:40 pm

    The budget woes will be all Bush's fault – everything else is Palin's fault – according to the Westboro Liberal Media.

  7. Joe Redfield on February 14th, 2011 6:20 pm

    If even ABC can spot the joker in this deck the Presidential 'Brain Trust' has apparently already forgotten the November election results. Or, perhaps, their giant, Progressive brains just can't process the fact that the only way spend less is to…spend less!

  8. joetote on February 14th, 2011 7:22 pm

    While the President is feeding us his line of garbage as to cutting spending, it came to my attention yesterday that the FED is considering a QE3 package as the 1.2 trillion dollars of worthless money they've already printed hasn't done what they though it would. All of the cuts in the world are not going to offset the hyper inflation and the costs that come with printing worthless money. M1 has grown 15.2% in less than 3 months and all of that is unbacked paper!

  9. Marshall_Will on February 14th, 2011 8:39 pm

    joetote,

    Wow, M1. Haven't heard anyone refer to that in a coon's age! LOL.

    Right, and what happens when all that money gets bored on the sidelines and decides to "chase better opportunity" in oh… say, heating oil, natural gas or uh 'food'?

    Brace yourselves. Of course Heli-Ben only ever intended for all that liquidity sloshing around like Prestone Radiator Leak-Fix-It on a "temporary basis" right? Don't forget all the TALF, TAF, TSLF alphabet soup 'fixes' they put in place -before- the bailout/TARP showed up?

  10. OK_Loyalist on February 14th, 2011 10:14 pm

    We're on the brink of collapse and this °O° budget is going to drive us over the cliff. He only knows moving forward, like reverse nor brakes were never installed in his car he is always telling us he's driving.
    http://www.washingtontimes.com/news/2011/feb/14/d

    "President Obama projects that the gross federal debt will top $15 trillion this year, officially equalling the size of the entire U.S. economy, and will jump to nearly $21 trillion in five years’ time."

    Go figure, him and Pluggers want a new Chooo-Chooo.

  11. OK_Loyalist on February 15th, 2011 1:10 am

    Paul Ryan has some faults, but I align closer with him than I do with °O°

    http://www.youtube.com/watch?v=-e5i6L0fwVs

    and

    http://www.youtube.com/watch?v=ReZW2G32hKs

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