J. Wellington Wimpy — better known simply as “Wimpy” — was Popeye’s recurring sidekick in the long-running cartoon series.
And Wimpy had a motto that could just as well be President Obama’s: “I’ll gladly pay you Tuesday for a hamburger today”
As Cato explains, Obama’s budgets consist of tax hikes now, with spending cuts and accounting gimmicks sometime… in… teh… future.
We’ve become so used to these unfathomable levels of deficits and debt—and to the once-rare concept of trillions of dollars—that we forget how new all this debt is. In 1981, after 190 years of federal spending, the national debt was “only” $1 trillion. Now, just 30 years later, it’s past $15 trillion…
As ATR points out, the “Obama Plan Uses Budget Gimmickry To Mask Explosive Spending“:
• The budget continues to call for spending at historic levels: the request sets spending forRead More »A Wimpy Budget