Tuesday, January 26, 2010

The Debtor in Chief

President Obama is planning on asking Congress to implement a spending freeze on all non-military discretionary spending for the next three years. In the unlikely event that Congress went along with this, the government would save about $14 billion dollars next year. This is pretty pathetic, as the President's budget had about a $1500 billion dollar deficit for this year alone. Are we supposed to cheer that we will only have a deficit of $1486 billion next year?

It is pretty clear that the President either doesn't get how bad the national debt is, or that he just doesn't care. Worse, if we don't get the deficit to zero within five years, the country is going to drown once Social Security starts needing its "trust fund", which doesn't exist.