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Written By : William Teach You do have to give Obama high chutzpah marks for pulling this stunt, though
Seeking to show he is serious about reining in soaring budget deficits, President Barack Obama on Tuesday will kick off the work of a panel he created to try to solve the nation’s fiscal woes.
Obama has given the independent, 18-member National Commission on Fiscal Responsibility broad leeway to suggest remedies for the debt and deficits.
A debate already has erupted over options the panel might consider, with conservatives urging that tax increases be ruled out and liberals seeking to shield the Social Security retirement program and other entitlement program from cuts.
The commission is due to convene at a White House event with Obama at 9:30 a.m. ET and hold the first of several monthly meetings afterward.
Obama has given the panel until December 1 to report back on its recommendations, enabling it to deliver its report after the November U.S. congressional elections.
Now, granted, Republicans under Bush were not exactly paragons of spending control, hence their low approval ratings from Conservatives. And Bush could have forced the Democrat controlled Congress to reduce spending during his last two years. That said, when Obama took over the White House with Democrats in full control of Congress, he apparently said “hey, Republicans, let me show you what out of control spending really looks like.” We then received the boondoggle know as Stimulus (which economists say failed). He signed a record high budget bill. He signed several special budget bills. As Karl Rove put it
….from the day Mr. Obama took office last year to the end of the current fiscal year, according to the Office of Management and Budget, the debt held by the public will grow by $3.3 trillion. In 20 months, Mr. Obama will add as much debt as Mr. Bush ran up in eight years.
Not that adding that much debt in 8 years was a great thing, do not misunderstand. Yet, Obama and the Donkey Party have taken it to a different level. When it comes to spending, they are a Jerry Rice compared to a Mario Manningham. Or, perhaps they are more like a Terrell Owens. Extremely talented, but, obnoxious and petulant. Either way, does anyone think that the answers to the budget problems will be “quit spending so darned much!”? Or, do we expect them to be “raise taxes along with implementing a VAT”? Democrats will not reign in any sort of spending. Remember that Pay-go rule they instituted, and then broke within 11 days? The one they have ignored ever since? Remember when Obama said he would go through the budget line by line and do away with pork? As Alexis de Tocqueville, not a particular fan of America, wrote
The American Republic will endure until the day Congress discovers that it can bribe the public with the public’s money.
Crossed at Pirate’s Cove. Follow me on Twitter @WilliamTeach
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