Freedom Line Blog

Today, the White House officially released its Budget for Fiscal Year 2011.  It is $3.8 trillion and consumes four large volumes.  What does it say about fiscal responsibility when your budget is thousands of pages and costs $236?

After a $1.4 trillion deficit in 2009, the White House projects a larger $1.56 trillion gap in this fiscal year.  To “trim” the massive sinkhole of red ink, the Administration proposes raising income taxes (though President Obama bragged about his tax record during his State of the Union Address) and energy taxes to reach a “manageable” $1.27 trillion shortfall next year.

Click here for the Office of Management and Budget website to review the budget, historical tables and analytical perspectives.