Another Year another Trillion-Plus Dollar Deficit

Obama made some promises about the deficit in the debate he lost so badly to Romney. He told Romney that he had planned four trillion dollars in cuts. He didn’t mention that these cuts were planned out over a decade. And he didn’t mention the ballooning of Medicare costs that everyone knows will expand suddenly after that decade.

Obama is trying to sell us a teaser rate to a balloon mortgage.

But as we enter Obama’s fourth consecutive year of a trillion-dollar-plus deficit—something unheard of in any previous presidential administration—perhaps we should ask if he plans to keep even that promise.

Flash back to 2008 when Obama was running for his first term. He ran as if he were a fiscal conservative. “There’s no doubt that we’ve been spending beyond our means and we have to make some adjustments,” he said. Furthermore, he claimed to propose “a net spending cut.”

So what happened to that?

It simply vanished. Obama never cut anything. He sprang for almost an ad hoc trillion dollar “porkulus” bill (or he supported Pelosi’s efforts) and he never even attempted to keep that promise. The media never remembered it either. It went down the memory hole.

So why should anyone ever believe Obama when he claims he will cut spending in any area? Obama had been a scathing critic of the budget of George W. Bush during the previous eight years. But when he got into office he was far worse. As the Competitive Enterprise blog reports:

Federal spending under the Obama administration has been at historic highs, consuming around 24 percent of the economy, compared to an average of about 20 percent under the Bush administration. Upon taking office, Obama signed massive spending bills that even George Bush had balked at, such as a “$410 billion spending bill that Bush had refused to sign before he left office.”

So a President with a proven track record of breaking his promises to reduce spending by massively increasing spending far beyond that of his predecessor—a predecessor whom he attacked for spending too much—is now supposed to be trusted for the promises he makes about the budget?

It is really impossible to believe that Obama worries about the budget at all. He simply knows what needs to be said (or what his teleprompter tells him to say) to win an election. It has no bearing on the decisions he makes after he is elected president.

The saying surely applies here to the nation: “Fool me once; shame on you. Fool me twice; shame on me.” It would be great if this country didn’t need to be ashamed in November.

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