Somehow, I Don’t Think That Obama Fella Is Serious About The Deficit

As we all get ready for the latest Best. Speech.Ever. from President Obama, who until now has voted “present” on all things deficit related except a general  massive increase in spending and raising taxes on “the rich,” Hot Air brings us news that the deficit continues apace under the adult leadership of President Obama:

The US budget deficit shot up 15.7 percent in the first six months of fiscal 2011, the Treasury Department said Wednesday as political knives were being sharpened for a new budget battle.

The Treasury reported a deficit of $829 billion for the October-March period, compared with $717 billion a year earlier, as revenue rose a sluggish 6.9 percent as the economic recovery slowly gained pace.

When spending continues to out-pace a nearly 7% increase in tax revenues, we can be sure that the governing class still does not get it.  And the guy at the top is simply not serious about anything but more spending, more taxes, more regulation, and more government intrusion into our daily lives.  When he says otherwise, he is simply lying. 

As I have written before, more tax revenue means more spending and more debt.  Period.  The political class has proven that they can’t be trusted with more of our money.  They first must earn some trust by proving that they can make meaningful spending cuts before tax increases can even be on the table.  If they demonstrate the will to cut, then we can talk taxes, and I might even be willing to consider some form of tax increases.  Who knows?  Until then, not a chance.

Published in: on April 13, 2011 at 10:56 am  Leave a Comment  

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