Obama’s budget proposal is rooted in politics, not fiscal discipline
James Pethokoukis makes a great point:
Any slight chance that Obama might chart a bold path on debt reduction probably died when the UK recently reported an unexpected economic decline, a drop some economists incorrectly blame on Prime Minister David Cameron’s tough-love budget. No way is Obama going to risk a renewed economic slowdown and his potential reelection. As it is, his budget forecasts average 2012 unemployment of 8.6 percent. That means Obama expects to try and win a second term in the most hostile employment climate since the Great Depression.
It’s really no surprise that the President is using the financial condition of the United States for his political gain.
[Hat Tip: Memeorandum]