Ken’s Take:
Candidate Obama promised that waste and special interests would be clinically scrubbed from the entire Federal budget.
So, I wonder: why didn’t his crack team scrub the pork-laden, non-stimulating $819 BILLION “stimulus” package?
Said differently, why should we expect that they’ll do a better job on the full $10 trillion Federal budget ?
Dire prediction: For the record, if the stimulus package is passed in its current form — or a similar pork-laden variant — the Dow will go to 5,000.
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Excerpted from Boston.com, ” Obama vows line-by-line budget review”, November 25, 2008
President-elect Barack Obama vowed today to get rid of federal programs that no longer make sense and run others in a more frugal way to make Washington work in tough economic times.
Obama said that to make the needed investments to create jobs, “we also have to shed the spending we don’t need.”
“In these challenging times, when we are facing both rising deficits and a sinking economy, budget reform is not an option. It is an imperative,” Obama said.
“We cannot sustain a system that bleeds billions of taxpayer dollars on programs that have outlived their usefulness, or exist solely because of the power of a politicians, lobbyists, or interest groups. We simply cannot afford it. This isn’t about big government or small government. It’s about building a smarter government that focuses on what works. We will go through our federal budget – page by page, line by line – eliminating those programs we don’t need, and insisting that those we do operate in a sensible cost-effective way.”
Full source post:
http://www.boston.com/news/politics/politicalintelligence/2008/11/obama_vows_line.html
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