A Gallup poll taken the week before Obama announced his 10-year budget proposal found that 68% of Americans disapprove of Obama’s handling of federal deficits, the highest disapproval rating ever recorded on this particular question. Put differently, over two-thirds of Americans say they want federal spending cut, not increased.
Yet on February 14, just days after the Gallup poll, President Obama unveiled a 10-year budget proposal that will add at least $9.4 trillion to our already $14.1 trillion national debt. It was the largest 10-year budget proposal on record. Obviously, Obama did NOT get the message that voters sent in the mid-term election or the latest Gallup poll noted above.
The question is, what could have Obama been thinking? Why would he propose adding almost $10 trillion to our national debt at a time when over two-thirds of Americans want federal spending reduced? Does he want to be a one-term president? I have a theory as to why he did this, and it may surprise you. That’s why you’ll definitely want to read this week’s E-Letter.