Did you catch the president's weekly radio address? He had the guts to mention that his new budget which will be released on Thursday is and I quote "sober in its assessments, honest in its accounting, and that lays out in detail my strategy for investing in what we need, cutting what we don’t, and restoring fiscal discipline." Excuse me, fiscal discipline? Didn't you Mr. President just sign into law a trillion dollar spending bill?
I agree the GOP didn't practice fiscal discipline while in office and I'm not about to excuse them for their chicken little "the sky is falling" approach to the banking crisis. They inturn did their fair share of panic talking and told us if we didn't pass the TARP plan, the sky would fall. Does anyone remember that the House didn't pass the bill when it was first introduced and guess what, the sky didn't fall. We should have stopped right then and there.
Now, back to the President and his "fiscal discipline". If he really believed in "fiscal discipline", he would have cut out all the pork in the porkulus bill and passed a true stimulus bill. Rep. Dave Camp (R-MI) responded to the president's address and stated "Congressional Democratic Leaders have a lousy track record on spending taxpayers' money, accusing them of rushing through the stimulus plan and the financial rescue so quickly that members didn't have a chance to read it."
Also mentioned in the radio address, tax hikes (big surprise, we knew it was only a matter of time). A lesson in economics Mr. President, you NEVER, NEVER raise taxes during a recession. You certainly don't need to be raising them on corporations (as that which has been proposed) because corporations create jobs in the private sector. Oh but I forgot, "O" thinks everyone should be supported by the government.
Please Mr. President, stop telling us you "inherited" this problem. You wanted the job, now you have it. It's your economy now, and from what I see you know nothing about it and will only make matters worse.