Competing BudgetsPosted by Dr Snyder on March 15th, 2013
In the past few days, we’ve seen a contrast in budget proposals. Paul Ryan, on the Republican side, has come up with a plan that will repeal Obamacare—which insurance companies are informing us will lead to a possible doubling of premiums by next year—and put the country on the path to a balanced budget in ten years. The Senate Democrats have an entirely different plan, one that comports with President Obama’s vision. John Hinderaker, at the Power Line blog, explains,
After four years, Congressional Democrats have finally produced a budget. The process has proved revealing: the Democrats’ budget never balances, increases spending by 62% over ten years, and adds $7 trillion to the national debt despite raising taxes by $1.5 trillion. So Senate Democrats must agree with President Obama that the nation does not face a debt crisis. . . .
We know from the budgets he has submitted for the last four years that Obama doesn’t care about the debt, immediately or otherwise, and has no intention of addressing it, ever. His budgets contemplate nothing but huge deficits as far as the eye can see, and would add trillions to the national debt through ever-increasing spending.
House Republicans have tried repeatedly to send bills to the Senate that would help solve our financial crisis. Each time, the Senate has refused even to allow a vote—all at the behest of the White House.
As the nation slides inexorably into a massive debt that might never be stopped, the president and the Democrat leaders in the Senate are ideologically blind to the disaster that looms:
For those who choose to believe Obama’s rosy picture of financial stability, there is a surprise coming:
A pleasant surprise, it is not.