Obama Head Fake of the Day: Fiscal Responsibility

Remember the Obama rule, he tends to say things that are the opposite of what he is actually doing. Here the President, after the obligatory blame Bush preface calls for a return to PAYGO. PAYGO is the idea that an increase in one area must be met with a cut or tax increase in another so as to force fiscal responsibility on Congress. The idea was was a darling of the Blue Dog Democrats until the they realized they could spend trillions unchecked along with the President. Clearly this another fake move by the President, like his cutting "100 million" dollars from the budget to come across as responsible while pushes an irresponsible budget.

WASHINGTON (Reuters) - President Barack Obama unveiled new steps on Saturday to restore U.S. fiscal discipline, including support for legislation that would require Congress to pay for any new programs by raising taxes or cutting other expenditures.

Acknowledging that he had spent heavily to confront a historic economic crisis since taking office January 20, Obama said the country was on an unsustainable course and would have to make hard choices to bring the budget under control.

"We came into office facing a budget deficit of $1.3 trillion for this year alone, and the cost of confronting our economic crisis is high," the Democratic president said in his weekly radio address. "But we cannot settle for a future of rising deficits and debts that our children cannot pay."

Obama's Republican rivals blasted the high deficits in their own radio address, noting that spending was so out of control the United States was even being scolded by France over its finances.

"The Democratic Congress passed a budget with such big deficits that it makes the United States literally ineligible to join France in the European Union," said Republican Senator Lamar Alexander.

In the real world this Obama's budget is not based real economic numbers that aims to raise taxes on all.

The CBO Projections:

Total Deficit or Surplus (Percentage of GDP)