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Jack Trapper of ABC News has a good roundup of Barack Obama’s lengthy promises. No one can say the Illinois senator is at a loss for ideas.

Of course, as Trapper notes, we’re in for a net loss of $428 billion during Obama’s first term if all his plans are enacted (that’s from the bi-partisan Committee for a Responsible Federal Budget). Obama’s assertion that he’s offered more than enough spending cuts to cover his new spending is just a wee bit spurious.

O.k., it’s a lie but it’s a lie all politicians tell so no one seems to care.

The question is: if elected, will Obama be the kind of spendthrift his programs indicate he’ll be or will he set aside a good portion of his plans for the health of our budget?

I guess we’ll find out if we elect him.

  • Avinash_Tyagi

    Should we even be concerned with the budget at this point Alan, i’ve stated before that the only way out of this recession is for the government expenditure to grow, since consumer spending and private investment will fall over the next few years.

    Even Paul Krugman seems to agree

    “No, what the economy needs now is something to take the place of retrenching consumers. That means a major fiscal stimulus. And this time the stimulus should take the form of actual government spending rather than rebate checks that consumers probably wouldn’t spend.”

    http://www.nytimes.com/2008/10/31/opinion/31krugman.html?partner=rssuserland&emc=rss&pagewanted=all

    While the debt is a danger i’ve railed against in the past, right now our immediate concerns require that the government spend, and spend fast