Families well below the president’s ‘no-tax’ threshold will get a six-figure bill.
The House and Senate are preparing to pass President Barack Obama’s radical budget blueprint, with only minor modifications, by using (abusing would be more accurate) the budget “reconciliation” process. This process circumvents the Senate’s normal rules requiring 60 votes to prevent a filibuster. Reconciliation was created by Congress in the mid-1970s to enforce deficit reduction, the opposite of what the president and his party are aiming for.
The immense increase in nondefense spending and taxes, and the tripling of the national debt in Mr. Obama’s budget, have been the subject of considerable scrutiny since it was announced. Mr. Obama and his economic officials respond, not without justification, that he inherited an enormous economic and financial crisis and a large deficit. All presidents present the best possible case for their budgets, but a mind-numbing array of numbers offers innumerable opportunities to conjure up misleading comparisons.