The president's new "Jobs Bill" will take over $400 billion from taxpayers over ten years to pay for it, but the expenditures will be authorized right away. There is, however, an inconvenient truth about which the president has failed to remind us: today's Congress cannot bind a future Congress. Therefore, if the government wants to spend $400 billion right away, then they need to find a way to cut $400 billion of spending right away, not by some non-binding ten year ruse. To do otherwise only increases today's deficit.
In 2009, President Obama promised a pay as we go budget. He even went so far as to say that "this is the rule that families across this country follow every single day, and there's no reason why their government shouldn't do the same." This is also the way businesses conduct themselves, unless we are talking about companies being supported by the government, like Sondra. Isn't it time our government followed the same rules dictated to the rest of us?
Does this president want to be the first president to suffer not one but two downgrades of U.S. credit? If not, he should withdraw his second stimulus spending plan, thinly disguised as his Jobs Act, and not increase our debt even further. Real jobs grow the GDP, not the deficit, and only the private sector can do it.