A lot has happened since President Obama introduced his last budget in February 2010. His party took an historic “shellacking” at the polls for its big government policies, his Fiscal Commission recommended serious spending cuts, and European governments have illustrated the severe problems of deficit spending.
Given all this, did the president adopt a more frugal and prudent approach in his new budget yesterday? Not at all–the spending levels in his new budget are virtually the same as the unsustainably high spending levels in his February 2010 budget.
The chart shows Obama’s proposed spending for FY2012 from last year’s budget, and his proposed spending for the same year from his new budget. His new budget proposes slightly more discretionary and entitlement spending for next year than did his last budget!
- Last year, Obama planned to spend $1.301 trillion on discretionary programs in FY2012, but now he plans to spend $1.340 trillion.
- Last year, Obama planned to spend $2,107 on entitlement programs in FY2012, but now he plans to spend $2,140.
So take that Tea Party!
Obama claimed in his “Budget Message” yesterday that “taking further steps toward reducing our long‐term deficit has to be a priority,” but looking at his actual budget numbers shows that isn’t true.
For more budget numbers, see my NRO summary.