Obama to present a $3.8 trillion budget to Congress

The New York Times is reporting that Obama will present a $3.8 trillion budget to congress Monday, February 1, 2010. Of course the White House declined to comment on the article.

The projected deficit for fiscal year 2010 (according to the Congressional Budget Office) is $1.35 trillion. The deficit for the FY 2009 was a mere $1.42 trillion.

Obama proposed a three year spending freeze on discretionary spending commencing in 2011. As President, one needs to submit an increased budget prior to implementing an alleged spending freeze. Mr. Obama claims that this will save $20 billion in FY 2011 and $250 billion by 2020.

The White House will be working their “magic” this week as their diversionary tactics will include comparing debt and the proposed budget as a percentage of GDP. Of course when GDP figures do not neatly fit, the government simply changes the manner in which GDP is calculated.

GDP assumptions within their models have consistently missed the target by a country mile. During February, our math challenged government recalculates various previously reported 2009 data. We will once again discover that our government has repeatedly missed their targets by dozens of country miles.

Let grandpa help out our fiscally challenged elected officials; when your model is broken, you have a deficit (a.k.a. shortfall, debit, deficiency, shortage and an immoral financial burden placed upon our grandchildren).