"Obviously, the bottom line is frightening," said Rudolph Penner, a senior fellow at the Urban Institute and a former director of the Congressional Budget Office. "They have a long way to go to show fiscal restraint."
The Obama administration unveiled its FY 2010 budget today, a $3.4 trillion, 1500 page monstrosity.
He followed the release up with a statement that "We can no longer afford to spend as if deficits do not matter and waste is not a problem." Do tell!
John McCain, on Twitter, quickly criticized the budget's proposed cuts of $17 billion as being only 1/2% of the total budget.
The total budget works out to spending an amount equal to approximately $11,000 per person in America for the fiscal year.
Here's an idea. Take out all the money needed to maintain the military and its operations at home and abroad - estimated at about $700 billion - and simply give the American people what is left as a block grant. So figure that every American man, woman, and child gets 80% of $11,000, or $8,800, and the government gets a year-long vacation.
My prediction: With $8,800 returned to every PERSON in America, there would be no more economic meltdown.
My second prediction: Since Obama cares about expanding a Fascist regulatory regime, and not curing the economic problems of the country, it couldn't possibly be on the radar.
But it does make one think. If government simply getting out of the way would solve the economic woes of the nation, why, exactly, are we expanding the role of government right now?