Decades of fiscal irresponsibility by both political parties in Washington have left us in a mess. Massive debt and a looming entitlements crisis threaten our economic future. In the face of these problems, our politicians continue to be incapable of making the tough choices necessary for us to live within our means.
One would think the current economic crisis would be a wake-up call, but those in charge seem determined to hit the snooze button over and over. Sixteen months after the wake-up call, and no plan of any substance has been put forward by the Administration to put us on a path to fiscal responsibility.
President Obama, aided and abetted by the Democrat-controlled Congress, seems to believe the solution to our problems is a large and permanent increase in government spending. Talk about throwing gasoline on a fire!
A year ago, calls for a temporary, short-term increase in government spending to ease the pain of the economic crisis were not unreasonable (though perhaps debatable). Instead, what we got from the Democrats was a massive, long-term increase in government spending on a variety of pet projects that had little to do with immediate economic relief.
Fast forward one year. A couple of weeks ago the President released his new budget. Over the next decade, he proposes even higher spending levels than he did a year ago!
The President is now proposing to spend, over the next decade, an additional $1.6 trillion dollars above and beyond what he proposed last year (see chart below).
Spend. Spend. Spend.
When is it going to end?
H/T to the Corner for the graph.