{"id":680,"date":"2009-04-03T13:28:40","date_gmt":"2009-04-03T13:28:40","guid":{"rendered":"http:\/\/www.rightwinggranny.com\/?p=680"},"modified":"2009-04-03T13:28:40","modified_gmt":"2009-04-03T13:28:40","slug":"the_wall_street_journal_commen_1","status":"publish","type":"post","link":"https:\/\/www.rightwinggranny.com\/?p=680","title":{"rendered":"The Wall Street Journal Comments On President Obama’s Budget"},"content":{"rendered":"

Yesterday’s Wall Street Journal Online<\/a> ran an editorial by Michael <\/strong>Boskin, a professor of economics at Stanford University and a senior fellow at the Hoover Institution, explaining how President Obama’s budget will impact American families.  It is a rather complex article, complete with charts, but I will attempt to highlight it here.<\/p>\n

President Obama’s characterization of the budge is misleading.  According to the editorial:<\/p>\n

“He claims to reduce the deficit by half, to shave $2 trillion off the debt (the cumulative deficit over his 10-year budget horizon), and not to raise taxes on anyone making less than $250,000 a year. While in a Clintonian sense correct (depends on what the definition of “is” is), it is far more accurate to describe Mr. Obama’s budget as almost tripling the deficit. It adds $6.5 trillion to the national debt, and leaves future U.S. taxpayers (many of whom will make far less than $250,000) with the tab. And all this before dealing with the looming Medicare and Social Security cost explosion.”<\/em><\/p>\n

The impact of the debt being incurred by the government will not be felt until President Obama leaves office (isn’t that convenient?), but theoretically, the cost will be $34,000 per family in tax increases.  Mr. Boskin describes the level of peacetime debt as three times above what he considers the safety limit.  I hope this budget will be changed in the coming years by voting in a new congress that will do away with the unnecessary expansion of the federal government.  <\/p>\n","protected":false},"excerpt":{"rendered":"

Yesterday’s Wall Street Journal Online ran an editorial by Michael Boskin, a professor of economics at Stanford University and a senior fellow at the Hoover Institution, explaining how President Obama’s budget will impact American families.  It is a rather complex article, complete … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-680","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/680","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=680"}],"version-history":[{"count":0,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/680\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=680"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=680"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=680"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}