President Bush proposed a new budget that would include over $400 BILLION this year in deficit spending and over $400 BILLION in the next fiscal year.
I'm no financial genius, but even I can figure out that deficit spending leads to recessions, and we've been deficit spending more than any administration since Johnson. I don't like the idea of this much pork going into a budget, and I REALLY don't like that in spite of all this proposed spending, the budget for Medicare and Medicaid would be cut. I'm not a big fan of entitlements, and would like to see some changes to Medicare and Medicaid to create more of an assisted pay program as opposed to a taxpayer pay program, but if you're so dedicated to spending, pony up.
I'm not surprised that the President would propose a budget so fat, particularly with money for Iraq, as it is one of the most visible signs of his legacy, but this administration's spending (notwithstanding last year's renaissance of fiscal conservatism) has really been unbelievable. 3 trillion dollars?! We're facing a recession as it is to make up for 7 years of deficit spending. Is the Executive Legacy so important that we should spend our children's money to try to keep the Dow where it is for 11 more months?
Read the article linked above - several people don't understand the President's fuzzy math. More importantly, at one point, the President appeared to say so much as he's creating a mess for the next administration to clean up - "[the] 2009 budget proposes to boost near-term economic growth, restrain spending, and reform entitlements, leading to a balanced budget by 2012 and a more fiscally prudent path for the long term." These are not the words of a "buck stops here" President. And they certainly don't sound like a small government Republican's words, either.
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And the Bush budget includes only $70B for war costs, a figure most commentators agree to be laughably and unrealistically low.
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