Finger-pointing is in full swing, but the reality is that the Supercommittee’s failure to come to an agreement on spending reductions is just one chapter in a very long story–the story of the Democratic Party’s absolute refusal to come to grips with the country’s fiscal crisis. Republicans on the Senate Budget Committee have produced this helpful time line, with links to supporting documentation. The story of the Democrats’ ongoing malfeasance needs to be better understood:
January 25 – In his State of the Union address, President Obama proposes freezing \”annual domestic spending for the next five years.\” This freeze would lock in elevated spending levels (24 percent non-defense discretionary, not including stimulus) and produce an estimated $3.8 trillion in deficits over the period in question. Subsequent analysis revealed that, because the White House shifted and hid new spending, non-defense discretionary spending would actually increase even further next year.
February 14 – President Obama proposes a budget with $8.7 trillion in new spending (CBO’s re-estimate actually finds $9.6 trillion in new spending).
February 15 – The House of Representatives begins debate on a bill that would cut spending by $61 billion. President Obama promptly issues a veto threat.
read via www.powerlineblog.com
by John Hinderaker
Link submitted by Levy Rosenthal
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