The New York Times has produced an informative graphic breaking down President Obama’s 2012 proposed budget along departmental lines as well as illustrating where increases or cuts are being made on a net basis. This is a valuable “big picture” view.
However, the sheer size of this budget shows how absolutely out of control our federal government spending has become. Congress MUST severely trim that budget! It must make reductions in spending EVERYWHERE. It must pass legislation that will allow it to also cut what is currently “non-discretionary” spending too.
Even before factoring in this $3.7 TRILLION budget for next year, The Washington Times reported that this year our federal debt will top $15 TRILLION which will exceed the value of our entire U.S. economy.
Mr. Obama‘s budget projects that 2011 will see the biggest one-year debt jump in history, or nearly $2 trillion, to reach $15.476 trillion by Sept. 30, the end of the fiscal year. That would be 102.6 percent of GDP — the first time since World War II that dubious figure has been reached.
And the budget projects the government will run a deficit of $1.645 trillion this year, topping 2009’s previous record by more than $230 billion. By contrast, 2007’s deficit was just $160 billion altogether.
Yet our own congresswoman, Lynn Woolsey, still won’t get serious (and neither will many of her Democrat colleagues) about the dire need to cut EVERYTHING.