Given the president’s actions in signing into law an unpaid for trillion dollar stimulus bill, a new healthcare entitlement that will increase spending far into the future, and four straight years of greater than $1 trillion deficits, his expression may not be surprising, but it is alarming. How much more fiscal trouble does the country need to be in for President Obama to recognize that this country does, in fact have a spending problem?
As AEI’s James Pethokoukis put it, “On the face of it, such a statement is completely ridiculous — and a bit scary.” He adds, “Indeed, when you look at what drives US budget deficits over the next decade, it’s spending that’s above normal vs. tax revenue right at its historical average of around 18%.”
At Hot Air, Ed Morrissey shakes his head, writing, “The US has increased its spending from a historical level of 20% of GDP to 25% of GDP during the Obama presidency. That’s a spending problem, and that plus the massive amount of unfunded liabilities soon approaching will make the current fiscal cliff look like late payments on a Sears card.”
Townhall’s Guy Benson is exasperated. “‘We don’t have a spending problem’ are the words of a cloistered ideologue, considering the incontrovertible evidence. It’s actually frightening. . . . It is a unambiguous fact that the federal government has a spending problem. Mitch McConnell, Boehner, Pat Toomey and others are right to declare the revenues debate ‘resolved.’” Pointing to the accumulating evidence of just how bad out spending problem is, Benson concludes, “If the president can survey this array of data and make his ‘no spending problem’ claim with a straight face, then I’m afraid he has a reality problem.” As Kathryn Jean Lopez says, “Doesn’t that bother Americans?”
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