Taxes and Budget

Barack Obama’s $3.8 trillion 2010 budget created immediate sticker shock this week with an estimated $1.56 trillion record deficit – breaking his own record $1.4 trillion deficit from 2009. But, there’s a lot more to leave you scratching your head wondering what the priorities of this administration really are.

By Patricia Murphy, Politics Daily, February 1, 2010

President Barack Obama’s new $3.83 trillion budget—on its way to Congress Monday— anticipates an even worse deficit this year than last and no big improvement until the economy improves and the nation sheds the crushing costs of two wars overseas.

It’s a bleak, nerve-wracking landscape for any White House, but the president is still betting on significant new spending for education and clean energy initiatives, including billions in loan guarantees for the nuclear power industry.

During his State of the Union address, President Obama said Washington was suffering from a “deficit of trust.” Despite this lofty rhetoric, the President used much of the remainder of his speech to attack Republicans, the Supreme Court, and people concerned with his policies. Attacking the people you hope to win over and work with is no way to bridge divides or “pay down” the deficit of trust.