Deficit? What Deficit? Spending shoots up 9%
We are living in a madhouse and lunatics are running the asylum.
Either that, or all of this has just been a bad dream and we'll wake up grateful that this massive spending spree by the Democrats has only been a nightmare:
Basic government spending rose by 9 percent in fiscal 2010, driving the country to a $1.291 trillion deficit down $125 billion from 2009, but still the second-largest hole on record, the Congressional Budget Office said Thursday.
CBO said the 9 percent rise in spending for defense, social programs, entitlements and interest on the debt was "somewhat faster than in recent years" a stark evaluation at a time when President Obama and Congress are working to convince voters they are pursuing a fiscally frugal course in Washington.
Still, the nearly $1.3 trillion deficit for fiscal 2010, which ended Sept. 30, is lower than prior projections, thanks in large part to expiring tax breaks, higher corporate tax receipts and the winding-down of the Troubled Asset Relief Program and payments to Fannie Mae and Freddie Mac.
"While the CBO deficit number is lower than expected, the fact that we are still in a very serious fiscal situation remains unchanged and the president is committed to getting us back on a sustainable fiscal path," said Meg Reilly, a spokeswoman for the Office of Management and Budget.
Cue the laugh track.
Where is this "commitment" from Obama to getting us "back on a sustainable fiscal path?" Words are cheap and Obama's words have wooden nickel value. How can anyone in any branch of government, on either side of the aisle look the American people in the eye and say they are serious about reducing this massive deficit while increasing government spending by 9%?
They can't. So they simply revert to lying and hope that's good enough to get them re-elected.
This time, I'm not so sure that is going to work as well as it has in the past.