Obama held is Fiscal Responsibility Summit today. We truly applaud his efforts to reign in deficit spending, but doubt he is serious about fiscal restraint. George W. Bush's record deficit reached $455 Billion. Obama just went on a huge bailout spending spree increasing deficit spending into the trillions of dollars. The highlight of Barak Obama's 10 year plan is to cut the deficit spending in half by 2013 when he leaves office. Cutting in half to our President means reducing the deficit to only $533 Billion Dollars by the time he leaves office - some $78 Billion Dollars more than Bush's record deficit! In other words, Obama plans to spend like hell over the next 4 years and claim fiscal victory when his final year spending is less than what he builds it up to be. Tell me again how that is fiscal responsibility?
The words out of Obama's mouth resonate with fiscal conservatives - pointing out the deceptive games Congress plays with budgeting, the effect of the huge accumulation of national debt, the cost of paying interest thereon (especially in light of the cost of other government spending programs). We still believe Obama is only paying lip service to fiscal restraint. Any plan that increases spending beyond our means - and that means receipts - is by definition irresponsible. It increases the national debt without a plan to retire the debt.
Yes, truth in budgeting and across the board spending cuts are necessary, but dont tell me you are serious about reducing the deficit when your plan calls for a substantial increase over the prior year. Please talk to us straight about your plans and don't claim your plan is to reduce spending when you plan an absolute increase over your predecessor. Stop spending, reduce the government size, reduce the waste, get rid of the antiquated programs and subsidies that no longer have relevance to society, reform the entitlements, and come up with a viable plan to reduce the debt. That would be change we could believe.
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