Obama’s Promise of Fiscal Restraint Falls Short

Monday, June 28, 2010 2:01 PM by Julie Borowski

In a speech in front of the G20 in Toronto, President Obama claimed that his administration is taking appropriate measures to rein in spending. In reality, this could not be further from the truth. As we have previously noted, Obama’s bogus spending freeze applies to a very small portion of the federal budget. It also goes without saying that a “freeze” is not the same as a “cut.” This is especially true when the freeze comes on the heels of a three year spending binge. This nuance, however, seems lost on the President. In his speech, Obama stated that "a few years from now I'll be making difficult choices about the country.” Why should we wait a few years? We cannot afford to wait any longer. Instead, the difficult choices to cut spending must happen today. In addition, Obama chose to criticize those Republicans that voted against his Fiscal Commission, which meets again this Wednesday. While this “debt panel” may offer a convenient talking point for a president who wants to pretend to be tough on spending, we have discussed at length the fig leaf it gives to tax hikers masquerading as fiscal watchdogs. So, while President Obama could have just as easily stayed home and pretended to cut spending, he opted to get on a Canadian taxpayer-funded soapbox instead. Goes to show you what a prudential steward of tax dollars he is…

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