A recent editorial in the Chattanooga Times Free Press, debunking President Obama's proposed "savings" in his 3.8 trillion budget request for fiscal year 2013, is right on point, in my opinion. An excerpt: "Not surprisingly, the $4 trillion in deficit reduction supposedly sought in the budget proposal would come 'over 10 years.' So even if Congress approves the president's plan, a future Congress could readily restore the money -- and more. "At any rate, the 'reductions' are dubious. The president claims huge savings from winding down the wars in Afghanistan and Iraq -- but those 'savings' largely represent money that was not going to be spent anyway. That's an accounting gimmick. "And private economists are challenging the president's reliance in his budget figures on rosy projections of 3 percent economic growth this year and next. They say that is far higher than growth is actually likely to be. "Meanwhile, a series of destructive tax increases would be imposed on 'the rich,' on banks, and on the oil, gas and coal companies that meet most of our nation's energy needs. Do you want to pay more to heat your home and fill your gas tank? "And the president's plan gives scant attention to reforming Medicare and other programs that are the key drivers of rising debt. "Finally, the president wants well over $100 billion in new 'stimulus' spending -- a big part of it to hire more government workers -- despite the 2009 stimulus' failure to produce the projected jobs. "The president's chief of staff, Jacob Lew, openly rejected talk of real spending cuts. "'[T]he time for austerity is not today,' he said on a Sunday talk show." Here is the link to the complete editorial: http://timesfreepress.com/news/2012/feb/15/obamas-misguided-budget/?opinionfreepress Thoughts?
