The worst part of Obama's budget—and the ways in which Republicans have conspired to increase spending just late last year—is that it attempts to normalize substantially increased spending levels as a percentage of GDP. Why exactly the government needs to be spending a higher percentage of GDP is not clear and I'm doubtful any member of either the GOP or the Democratic Party will ever bother clarifying the matter.What I think is ironic about the effort to double the national debt again is that an ever-expanding portion of the federal budget will go towards interest payments on the national debt, feeding the coffers of those bad-old "big banks." I've said this before but it bears repeating: between inviolate interest payments and untouchable entitlement spending, there's not going to be anything left for what we call the "government."
Wednesday, February 10, 2016
Hit and Run: "Obama's Budget Promises an Olympian Mountain of Debt For Our Kids to Pay Off."