In the movie The Matrix, machines were able to enslave the entire human race for use as an energy source. The machines were able to keep the humans in check by project a false reality to the humans. In this false reality, humans lived life at the height of the 20th century, completely oblivious to the true holocaust around them. In terms of spending, Obama is clearly living in the false reality of the Matrix.
Today President Obama has released the new budget for fiscal year 2011. It comes in at a staggering $3.8 trillion and carries an unheard of deficit of $1.6 trillion. In other words, almost half the money being spent will have to be borrowed.
WASHINGTON—President Barack Obama will propose on Monday a $3.8 trillion budget for fiscal 2011 that projects the deficit will shoot up to a record $1.6 trillion this year, but would push the red ink down to about $700 billion, or 4% of the gross domestic product, by 2013, according to congressional aides.
The deficit for the current fiscal year, which ends on Sept. 30, would eclipse last year's $1.4 trillion deficit, in part due to new spending on a proposed jobs package. The president also wants $25 billion for cash-strapped state governments, mainly to offset their funding of the Medicaid health program for the poor.
Obama speaks of investments in our future like we actually have the money to pay for these things. He believes that all this new spending will some how pay for itself down the road. Obama even wants to freeze the current level of spending for the next three years as though we could possible afford to sustain those levels.
For now Obama only offers toothless commissions, rosy economic projections, the puniest of cuts and another dose of “Blame Bush” as though any of that is sufficient to address the massive debt we are carrying today.
Obama is also proposing a new $100 billion jobs program, even though last year he told the American people that the $787 billion dollar stimulus was a jobs program designed to hold unemployment at 8%. Despite the stimulus failing miserably to keep unemployment in check and still has hundreds of billions left to be spent, Obama still wants another $100 billion to throw away.
Just the other day, Obama talked about cutting the budget and Washington living within its means.
Clearly, these were just words and just speeches. The man hasn’t a clue as to the real world consequences looming large if we do not serious reverse course with spending.
Video H/T: Gateway Pundit