Not only is President Obama’s proposed budget for 2015 a month late, but it’s also unrealistic, Heritage Foundation experts report. It’s more of the same tax-and-spend liberalism:
- Spending would go from $3.5 trillion in 2013 to nearly $6 trillion in 2024.
- Debt borrowed in credit markets (public debt) would grow from $12 trillion in 2013 to $19 trillion in 2024.
- The national debt, including debt owed to government agencies, would grow from $17.3 trillion today to $25 trillion in 2024.
- The President’s budget includes about $1 trillion in new spending, partly offset by other spending cuts, and about $1.2 trillion in tax increases.
Here’s more from the Heritage analysis: Continue Reading »