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Tag: carbon tax

Obama talks fiscal responsibility, but delivers a $1.75 trillion dollar defecit budget

By Republican Michigander, Section News
Posted on Thu Feb 26, 2009 at 12:17:02 PM EST
Tags: bailout, Barack Obama, Big government, Budget, carbon tax, deficit, Spending, Taxes (all tags)

(Normally, I don't crosspost national stuff, but this one is just that bad)

I've come to understand that whenever Obama promises something, it is time to expect the opposite. Nowhere is that more apparent than when it comes to fiscal responsibility. This budget does not deliver whatsoever when it comes to that. I knew it was a joke when he talked about slashing the deficit in half in four years. That's unacceptable. It needs to be balanced. Period. This is going in the opposite direction.

From the AP

WASHINGTON - President Barack Obama is sending Congress a "hard choices" budget that would boost taxes on the wealthy and curtail Medicare payments to insurance companies and hospitals to make way for a $634 billion down payment on universal health care.
Obama's first budget, which will top $3 trillion, predicts the deficit for this year will soar to a whopping $1.75 trillion, according to administration officials who spoke on condition of anonymity before the public unveiling of the budget Thursday. The huge deficit reflects the massive spending being undertaken to battle a severe recession and the worst financial crisis in seven decades.
As part of the effort to end the financial crisis, the administration will propose boosting the deficit by an additional $250 billion this year, enough to support as much as $750 billion in increased spending under the government's financial rescue program. That would more than double the $700 billion bailout effort passed by Congress last October.

(3 comments, 848 words in story) Full Story