If there was an award for bonehead defense reporting it should go to The New York Times for “Military Contractors Await Details of Obama’s Budget.” The opening paragraph includes this howler…”The good news for big military from President Obama’s budget this week was his proposal to increase the basic budget …
Here’s a test: Guess who made most of the charitable contributions in 2006, according to the most recent data available from the Internal Revenue Service? If you guessed “taxpayers with high incomes”, you’d win the prize. Now, guess which class of taxpayers the Obama administration wants to discourage from making …
Classic Tax and Spend Budget Increase, Raise and Hike: The President’s budget proposal increases taxes by $1.3 trillion; raises entitlement spending by $700 billion (including the health care fund), and hikes discretionary spending by a steep 12%. Creating Deficits, Not Eliminating Them: Given the budget deficit has already quadrupled in …
President Obama released his budget blueprint yesterday. Titled, “The New Era of Responsibility,” the full 140-page blueprint, broken down by department, can be found here. The Environmental Protection Agency’s budget, which balloons from $7.8 billion in 2009 to $10.5 billion in 2010, includes the following paragraph: After enactment of the …
While many aspects of the Obama budget are questionable and just plain wrong, they recognize the need for more Americans to be able to save for retirement. The budget includes the Automatic IRA, a cross-ideological proposal developed jointly by The Heritage Foundation and the Brookings Institution which will give up …
Budget Trickery The President also employs budget trickery on spending. He first assumes that Iraq spending will continue indefinitely at 2008 levels (which was never going to happen, according to the military’s own Joint Campaign Plan), and then calculates $1.5 trillion in savings against that baseline. If you eliminate that …
President Obama’s budget document lacks the details necessary to judge fully his tax proposals. What we have are proposed streams of revenues over 10 years and short tag lines describing the proposals. A full assessment of his tax program will therefore have to wait. The initial impression, however, is that …
The title to President Obama’s budget refers to a new era of responsibility. Responsible budgeting begins with credible economic forecasts. The Obama economic forecast doesn’t merely reflect the return of the famous Rosey Scenario, but puts Rosey in fantasyland. Don’t take my word for it, just look at the numbers …
With Election Day not yet a month past, the Democrat’s promise of fiscal responsibility has already been ditched. Wednesday, The Hill newspaper reported: Even the most ardent deficit hawk among House Democratic leaders says the cost of overhauling the nation’s healthcare system will be heaped on top of the snowballing …
