Monday, April 18, 2011

Republican Budgeting: “Our voters are morons!”

Professor Hale has the numbers:

The 2010 budget was $3.456 TRILLION. In 2011, that amount is expected to be $3.818 TRILLION. A 38 Billion reduction makes that only $3.79 $TRILLION which is still more than 300 Billion more than the record setting budget from last year. Thanks for that, Congress. That also still gives us more than $1.6 trillion in deficit this year, another record for an administration that recognizes no boundaries.

So basically, Congress cut nothing.  Obama asked for a $362B increase in spending and the Republicans’ great accomplishment was to give him 90% of it.  Megan says that the nation’s total AGI was $7,583B last year, which if I remember my macro is roughly the size of the economy.  That makes the federal share of the economy now around 50%.

Back to Prof Hale:

I heard the news Saturday morning that "we had a deal". This was followed up by President Obama making a personal appearance at the Lincoln Memorial and telling tourists, "we are open for business". I also heard that both side would work out the details and vote on this later in the week. Forgive me for being pedantic, but this is our national government. There is no "deal" in national government. There are spending authorization bills, that get voted on and approved in both houses and then get forwarded to the President for signature. As far as I can tell, THAT DID NOT HAPPEN! It seems that our previously out-of-control government is still out of control and is continuing to spend money that it has not been authorized to spends according to law and the Constitution. "Deals" are not good enough.

Has anyone figured this out yet?

1 comment:

Anonymous said...

Thanks for noticing.