April 11, 2013

The Obama Budget: A Plan or a Train Wreck?

By Jim Yardley
The president has released his budget, with the usual threats to refuse to negotiate with Republicans in the co-equal branch of government called Congress.  The proposal is monumental, with total spending in the budget totaling $3.778 trillion.  Or, as the average accountant would write it:  $3,778,000,000,000 Looking at it another way, we currently have a national debt in the $16-trillion range.  This sum has been accumulating since George Washington was first sworn in as president and on through the War of 1812, the Civil War, the Spanish-American War, World War I, World War II, the Korean Conflict, Vietnam, the assorted wars that never even earned a real name, the construction of the Transcontinental Railroad, landing men on the moon, and a few other odds and ends.  All that went on over more than 200 years, yet for only the next year -- just one single year -- Obama intends to spend an amount that is nearly 25% of that number.  He wants to spend...(Read Full Article)