Tuesday, April 12, 2011
On Wednesday President Obama will try to convince America he is serious about cutting spending, when he is only really serious about increasing taxes. He will promise multi-trillion dollar cuts in the next 10 years, but increased spending and taxes in the 2012 budget. And therein lays the dirty little secret. No President or Congress can compel future Presidents or Congresses to spend or not spend money. In America budgets are done one year at a time. By putting cuts off in future years that can be ignored by new Presidents and Congresses the Federal government enables runaway spending in the current budget year with the empty promise of cuts in the future. The American people have been taken in by this little parlor trick for 50 years. Hopefully it will end with this President and a new revived Congress than can bring common sense back to government budgeting and spending.