Obama punts on budget

President Barack Obama has apparently decided that he is not going to be part of the solution to the nation’s enormous deficit — which would make him, yes, part of the problem.

The president is expected to release his budget today that projects a $1.3 trillion deficit for the ongoing fiscal year — that would be the fourth year in a row of $1 trillion or more deficit spending, according to the nonpartisan Congressional Budget Office. And surprise, surprise, the Obama budget will also include yet another pitch to raise taxes on top income earners from 35 percent to 39.6 percent as part of some $1.6 trillion in tax hikes proposed over the next decade.

It is, in fact, an election year budget in the very worst sense of that phrase. It proposes $476 billion in spending over six years on roads and surface transportation. And it does precious little to address the long term solvency of the big ticket items of government spending — Medicare, Medicaid and Social Security.


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