Obama Takes us Past the Point of No Return And Wants to Spend More

Obama's absolutely counting on John Boehner's motley crew to raise the debt ceiling. Of course, he should since it was the Republicans who compromised with Obama allowing Obama to spend more for the Bush tax cuts to be extended. Now Obama is proposing 15 brand new taxes, which will offset part of the Bush tax cuts while allowing Obama to push to spend more money.

We are looking at $16 trillion in federal debt by September if the Obama budget passes. That's two more trillion in the next six months and a few days. That's faster than Obama has racked up debt on average since the debt was at $10 trillion when he took office, and he has been averaging around $2 trillion a year. Now he wants to spend that much money we don't have in just six months. So much for freezing spending.

National Review has published some facts on the new Obama spending spree:


● Total federal spending jumped from $2.98 trillion in 2008 to $3.82 trillion in 2011. Obama’s budget has outlays at $3.73 trillion in 2012, but that’s still up 25 percent from 2008. Spending in 2011 is the highest share of GDP since WWII at 25.3 percent.

● Non-defense discretionary spending jumped from $522 billion in 2008 to $655 billion in 2011. Spending is supposed to fall to $611 billion in 2012, but that’s still up 17 percent from 2008.

● Defense spending jumped from $612 billion in 2008 to $761 billion in 2011. Spending is supposed to fall to $730 billion in 2012, but that’s still up 19 percent from 2008.

● Entitlement spending jumped from $1.59 trillion in 2008 to $2.19 trillion in 2011. The budget has entitlement spending at $2.14 trillion in 2012, which is up a huge 35 percent from 2008.

Obama took a “shellacking” in the November elections as a result of his big-government policies. Does his new budget reflect any movement to the fiscal center? Not at all — spending levels in his new budget are virtually the same as in last year’s budget.

● Last year, Obama proposed total spending for 2012 of $3.76 trillion. His new budget proposes 2012 spending of $3.73 trillion. So, in response to huge and growing concerns about overspending in Washington, the administration has essentially not changed next year’s spending target at all.

● Last year, Obama projected spending in 2020 at $5.71 trillion. His new budget has spending in 2020 at $5.42 trillion. So the new focus on fiscal restraint in Washington has convinced the administration to trim just 5 percent off of its previous budget by the end of the decade. The new proposal for spending in 2020 is 42 percent higher than spending this year.

● Last year, Obama’s budget showed public debt rising to 77 percent of GDP by 2020. Yet despite all the administration’s expressed concern about rising debt, the new budget has exactly the same debt target in 2020 of 77 percent.

● Last year, Obama proposed 2012 discretionary outlays of $1.30 trillion. This year, Obama proposed 2012 discretionary outlays of $1.34 trillion.

So we have passed the point of return. The national debt is now bigger than the American economy, a mark we passed a few days ago. What happened to the spending freeze promised in the state of the union, and how will the GOP's compromise with Obama weaken their position to fight this budget? Luckily for this Repubic, if we can still call it that, this is nothing but a wish list. It will be up to the GOP to fight it. I believe they will, but I remind you once again, the do so compromised.