An Early Glimpse at the Democratic Budget

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Jun. 09, 2008

Las Vegas Review-Journal

EDITORIAL: Democratic budget

As Democrats eagerly await their November election landslide, voters got an early glimpse of what they can expect next year if the party of big government controls the White House and Congress.

By a vote of 214-210, the House on Thursday passed a budget blueprint that pushes total spending on government agencies above $1 trillion -- yes, that's a "t," folks -- for the first time in the nation's history.

The budget includes a major tax hike -- it assumes many of the Bush tax cuts will not be renewed -- and would allow the alternative minimum tax to hammer millions of middle-class taxpayers.

The proposal also does absolutely nothing to address the soaring costs of federal entitlements, which threaten to eventually bankrupt the country.

Nonetheless, Democrats were patting themselves on the back for having passed a budget plan during an election year -- something Republicans had trouble doing when they controlled the House. Not that it really matters. Given that the president has threatened to veto most of the Democratic spending measures, Congress is unlikely to send specific appropriations bills to the White House until after the November election.

House Republicans lambasted the Democratic budget. But where were they when they were in the majority and only paid lip service to fiscal responsibility?

The GOP deserves what it gets this fall, but if you think a President Obama paired with Speaker Nancy Pelosi and Senate Majority Leader Harry Reid represent a move toward budget discipline, we've got a time share in North Dakota you might like.

http://www.lvrj.com/opinion/19654084.html

Change you can believe in. You better change your drawers and get ready for the giant auger. Cause your butt is about to be reamed. Big time.

[Auburn85 432]

I'm more worried about future Democratic budgets if Obama wins.

I can't seem to get a detailed answer about getting control and containing our national debt. All I get is one or 2 answers.."Obama will..." or some generic line blaming Bush. We can blame Bush all we want. We can blame Bush til were blue in the face. We can have him and Cheney tortured. But I hate to break it to you, that isn't going to bring down the debt.

I'm just going to start sounding like a broken record on some things. One will be the national debt.

I've even tried to offer ways to get the ball rolling on lowering debt or to at least show accountability.

1) The tax hike on the top income earners won't go to pay any debt. This revenue goes to pay for Universal Healthcare

2) The raising of the Social Security cap will obviously be used to make an attempt to make SS more solvent.

3) Profit Winfall taxes on oil compaines won't go to any rainy day fund or to pay down debt

4) Increasing the capital gains tax from 15% to perhaps as much as 28%. I won't assume, but I haven't heard of how this additional revenue will be used.

5) A bi-partisan effort just passed with a surcharge income tac of 0.5% to pay for more military benefits

6) And now we're looking atthis alternative minimum tax

While it's great if we can heavily reduce or even eliminate pork barrel spending, will that be passed?Clinton, Obama and McCain voted in favor of a one time...one time freeze on pork barrel spending and it was soundly defeated. So will Congress "change" when Obama is elected president?

I do have a question. Does Obama favor raising the corporate income tax?

When you average the national corporate income tax rate with the 50 states, it's the second highest i nthe world. Only behind Japan.

From Obama's site:

Invest $150 Billion over 10 Years in Clean Energy: Obama will invest $150 billion over 10 years to advance the next generation of biofuels and fuel infrastructure, accelerate the commercialization of plug-in hybrids, promote development of commercial-scale renewable energy, invest in low-emissions coal plants, and begin the transition to a new digital electricity grid. A principal focus of this fund will be devoted to ensuring that technologies that are developed in the U.S. are rapidly commercialized in the U.S. and deployed around the globe.

Double Energy Research and Development Funding: Obama will double science and research funding for clean energy projects including those that make use of our biomass, solar and wind resources.

Will the increase in funding here be paid for by auctioning off indulgences? I mean carbon credits?

here's his take on education:

http://www.barackobama.com/issues/education/

how will this increase is education funding be paid for?

As you can see with all of the tax increases I've listed, none of them go to increase funding for education.

And for 10th time, when Universal Healthcare is passed, won't this undermine the existance of the Prescription Drug Act? If so, scrap the program. Use the freed up funds for the debt to at least have something going to pay toward debt. Like I've stated before, I'm not looking for the debt to be paid off in a year or two. I'm looking for accountability and a plan toward eliminating or minimizing our debt.