Research

Panic In The West Wing

Obama Scrambles To Defend Widely-Panned Budget That Maintains Out-Of-Control Spending While Leaving The Tough Decisions To Someone Else

“President Obama will hold a news conference at 11 a.m. on Tuesday, the White House announced.” (“Question Time,” Politico, 2/15/11)

OBAMA TRYING TO PUSH BACK ON CONSENSUS THAT HE FAILED TO SHOW LEADERSHIP ON TACKLING THE COUNTRY’S FISCAL CRISIS

The Wall Street Journal:  “This was supposed to be the moment we were all waiting for. After three years of historic deficits that have added almost $4.5 trillion to the national debt, President Obama was finally going to get serious about fiscal discipline. Instead, what landed on Congress’s doorstep on Monday was a White House budget that increases deficits above the spending baseline for the next two years. Hosni Mubarak was more in touch with reality last Thursday night.”  (Editorial, “The Cee Lo Green Budget,” The Wall Street Journal2/15/11)

  • WSJ: “This $3.73 trillion budget does a Cee Lo Green (“Forget You,” as cleaned up for the Grammys) to the voter mandate in November to control spending. It leaves every hard decision to the new House Republican majority. And it ignores almost entirely the recommendations of Mr. Obama’s own deficit commission.” (Editorial, “The Cee Lo Green Budget,” The Wall Street Journal2/15/11)
  • WSJ:  “More than 95% of the savings would happen after Mr. Obama’s first term in the White House is over, and almost two-thirds of the promised deficit reduction would arrive after 2016. Pretending to cut deficits by pushing all real cuts into the future is Budget Flimflam 101.” (Editorial, “The Cee Lo Green Budget,” The Wall Street Journal, 2/15/11)

The Washington Post: “Having been given the chance, the cover and the push by the fiscal commission he created to take bold steps to raise revenue and curb entitlement spending, President Obama, in his fiscal 2012 budget proposal, chose instead to duck. To duck, and to mask some of the ducking with the sort of budgetary gimmicks he once derided.”  (Editorial, “President Obama’s Budget Kicks The Hard Choices Further Down The Road,” The Washington Post, 2/15/11)

  • The Washington Post“The larger problem with the budget is the administration’s refusal to confront the hard choices that Mr. Obama is so fond of saying must be faced.” (Editorial, “President Obama’s Budget Kicks The Hard Choices Further Down The Road,” The Washington Post, 2/15/11)

The New York Times“What Mr. Obama’s budget is most definitely not is a blueprint for dealing with the real long-term problems that feed the budget deficit…” (Editorial, “The Obama Budget,” The New York Times, 2/14/11)

Los Angeles Times“The proposal was a remarkably tame response to Washington’s fiscal problems, not the bold statement about belt-tightening that the White House had suggested was coming.” (Editorial, “Obama’s Overly Tame Budget,” Los Angeles Times, 2/15/11)

The Washington Post’s Dana Milbank: “In his new budget, Obama kicks the can one more time” (Dana Milbank, Op-Ed, “In His New Budget, Obama Kicks The Can One More Time,” The Washington Post, 2/15/11)

  • Milbank: “Obama’s budget proposal is a remarkably weak and timid document. He proposes to cut only $1.1 trillion from federal deficits over the next decade – a pittance when you consider that the deficit this year alone is in the neighborhood of $1.5 trillion.” (Dana Milbank, Op-Ed, “In His New Budget, Obama Kicks The Can One More Time,” The Washington Post, 2/15/11)

The Wall Street Journal: “President Obama’s fiscal 2012 budget doesn’t cut much of anything (see above), and certainly not the Internal Revenue Service. The White House is requesting that the most beloved of all government agencies get an additional 5,100 agents next year, no doubt to wring further tax revenue from Americans.”  (Editorial, “5,100 More IRS Agents,” The Wall Street Journal2/15/11)

San Francisco Chronicle’s Carolyn Lochhead: “Before you get excited by the fake top-line number of $1.1 trillion in deficit cutting over a decade that President Obama proposed today, note that it comes off projected deficits of $12 trillion.” (Carolyn Lochhead, “Obama’s Timid Leadership,” San Francisco Chronicle’s Politics Blog, 2/14/11)

National Journal’s Marc Ambinder: “[President Obama’s budget] barely (if at all) addresses the massive entitlement spending that has the nation treading frantically in a sea of red ink.” (Marc Ambinder, “The Budget Nobody Likes,” National Journal, 2/14/11)

CNN’s Jessica Yellin: “The president ordered a deficit commission forum. They recommended overhauling entitlements, and then the budget doesn’t touch it. What was the point having a debt commission then?  (CNN’s “The Situation Room” 2/14/11)

The Associated Press: “President Barack Obama’s budget fixes a looming cut to doctors that could devastate Medicare, but it offers no cure for the underlying problem of rising health care costs that threatens to break the bank.” (“Obama’s Health Care Budget: ER Visit But No Cure,” The Associated Press2/14/11)

  • AP: “It’s like stabilizing a patient in the emergency room and sending him home until the next crisis.” (“Obama’s Health Care Budget: ER Visit But No Cure,” The Associated Press2/14/11)

AP: “Obama’s Budget Is Largely Silent” On Health Care Costs.  But with more than 100 million Americans already covered by programs such as Medicare, Medicaid and children’s health insurance, Obama’s budget is largely silent on costs that keep growing faster than the economy, tax revenues and workers’ wages. And starting in 2014, the health care overhaul will add another 30 million people who depend on the government for coverage.”  (“Obama’s Health Care Budget: ER Visit But No Cure,” The Associated Press2/14/11)

CNN: “But the most expensive and politically popular programs — including Medicare and Social Security — would remain largely untouched, against the recommendations of Obama’s own deficit reduction commission.”  (Alan Silverleib, “Obama’s Budget:  A Play For The Center?” CNN.com, 2/14/11)

The Wall Street Journal:  “Mr. Obama’s plan to reduce the deficit by $1.1 trillion over 10 years is short of the $4 trillion in reductions the White House’s bipartisan deficit-reduction commission proposed in December.” (Jonathan Weisman And Naftali Bendavid, “Budget Forecasts Bigger 2011 Deficit,” The Wall Street Journal, 2/14/11)

The Hill: “President Obama’s 2012 budget request to be released on Monday will reduce budget deficits over the next decade by only a quarter of the amount proposed by the presidential debt commission in December, a senior administration official confirmed Sunday.” (Eric Wasson, “Obama’s Budget Falls Far Short Of Debt Commission Savings Plan,” The Hill’s “On The Money” Blog, 2/13/11)

INSTEAD, OBAMA CONTINUES TO ENGAGE IN OUT-OF-CONTROL SPENDING

Obama Proposed A $3.73 Trillion Budget, Which Will Result In $46 Trillion In Spending Over Ten Years.  (Fiscal Year 2012 Budget Of The U.S. Government” Office Of Management And Budget, 2/14/11)

The Deficit This Year Is Slated To Reach A Historically High $1.65 Trillion. (Fiscal Year 2012 Budget Of The U.S. Government” Office Of Management And Budget, 2/14/11)

The Deficit In FY 2012 Is Slated To Be $1.1 Trillion.  (Fiscal Year 2012 Budget Of The U.S. Government” Office Of Management And Budget, 2/14/11)

  • “The Annual Deficit Would Recede To $1.1 Trillion Next Year, As Obama’s Latest Policies Began To Take Effect - The Fourth Straight Year Of Trillion-Dollar Deficits.”  (Lori Montgomery, “Obama Budget Projects Record $1.6 Trillion Deficit,” The Washington Post2/14/11)

The Ten Year Deficits Will Total $7.2 Trillion. (Fiscal Year 2012 Budget Of The U.S. Government” Office Of Management And Budget, 2/14/11)

Obama’s Budget Adds $13 Trillion In New Debt. (Fiscal Year 2012 Budget Of The U.S. Government” Office Of Management And Budget, 2/14/11)

“Mr. Obama‘S Budget Said 2011 Will See The Biggest One-Year Jump In Debt In History, Or Nearly $2 Trillion In A Single Year.” (Stephen Dinan, “Debt Now Equals Total U.S. Economy,” The Washington Times, 2/14/11)

“And The Administration Says It Will Reach $15.476 Trillion By Sept. 30, The End Of The Fiscal Year, To Reach 102.6 Percent Of Gross Domestic Product (GDP) — The First Time Since World War II That Dubious Figure Has Been Reached.”  (Stephen Dinan, “Debt Now Equals Total U.S. Economy,” The Washington Times, 2/14/11)

In 2021, Gross Debt Will Total $26.3 Trillion, Equaling 107 Percent Of GDP.   (Fiscal Year 2012 Budget Of The U.S. Government” Office Of Management And Budget, 2/14/11)

Over The Next Ten Years, The Total Interest Payments On Our Debt Will Total $5.7 Trillion.  (Fiscal Year 2012 Budget Of The U.S. Government” Office Of Management And Budget, 2/14/11)