Two months ago, President Obama submitted a budget for fiscal 2012 that did not deal with the major sources of government spending while calling for much higher taxes on American businesses and families. This budget was widely panned as lacking seriousness.
Now comes a deficit speech that doesn’t even rise to the level of a plan. Missing was a credible way to curb out-of-control spending. Instead, the president called for greater reliance on government price controls, which would strictly limit the health-care options of current seniors while failing to control costs. The president would couple this approach with $1 trillion in tax increases, which would destroy jobs and hurt the economy.
We cannot accept an approach that starts from the premise that ever-higher levels of spending and taxes represent America’s new normal.
Friday, April 15, 2011
Paul Ryan: A budget for the 21st century