Long on tough choices, short on final answers, President Barack Obama’s new 2012 budget goes to Congress on Monday in what many hope is only an opening bid before he and Republicans come to the table on a bipartisan deficit reduction plan.
For the current year, the White House projects a more-than-$1.6-trillion deficit — even higher than the Congressional Budget Office forecast. But outlays would actually drop in 2012 and stabilize in the $3.7 trillion range, as deficits fall to $1.1 trillion in 2012 and $768 billion in 2013.
I guess where I come from the definition of "tough choices" is a little different. Granted, the spending increases in this budget are modest (2.8%) when compared to last year's budget (16.1%), but Federal spending increases are still rising faster than the rate of inflation.
Whatever you want to call this new budget it is not our entry point into a new era of austerity. When it comes to spending we are still the drunken sailor on leave. I don't think anyone should be applauded because this year we've only maintained our buzz.
Maybe at some point we ought to think about sobering up?
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