Dr K is almost always dead on in his analysis and this is a classic:
Classic Obama debt reduction: Add $2 trillion in new taxes, then add $1 trillion in new spending and, presto, you’ve got $1 trillion of debt reduction. It’s the same kind of mad deficit accounting in Obamacare: It reduces debt by adding $540 billion in new spending, then adding $770 billion in new taxes. Presto: $230 billion of “debt reduction.” Bialystock & Bloom accounting.*
Got that? Its like when you can’t pay your credit card bill, you go out get another credit card to “pay off” balance on the first one and then run up the charge on the new care to double the old balnace. But what the heck, huh? You paid off the old card, right? This is what Obumbler is trying to do on a national level. It’s dishonest. But he thinks we are too stupid to see it.
You don’t believe Obama is a liar? Dr. K points out:
But post-recession they remain in place. As a result, discretionary non-defense budget levels today are 24 percent higher than before Obama – 84 percent higher if you add in the stimulus money.
Which is why the supposedly painful cuts yield spending still at stratospheric levels. After all the cuts, Education Department funding for 2012 remains 35 percent higher than in the last pre-emergency pre-Obama year, 2008. Environmental Protection Agency: 18 percent higher. Energy Department: 22 percent higher. Consider even the biggest “painful cut” headline of all, the 50 percent cut in fuel subsidies for the poor. Barbaric, is it not? Except for the fact that the subsidies had been doubled from 2008 levels. The draconian cut is nothing but a return to normal pre-recession levels.
You won’t hear this from the MSM, though. (I am surprised that the Washington (com)Post still lets Krauthammer turn in his column weekly!) But while we still can, let’s all enjog the good Doctor’s wisdom and learn sumthin’
*Yeah, that sent me scurring to research that it meant… Interesting. In a nutshell it boils down to this: Under the right circumstances, you can mkae more money by failing than succeeding. (h/tp to Chris Horner at the Big Government website.)