YOU LIE!!!!!

The budget Obama just submitted for FY13 is a bad joke. He will have no problem spending the $3.8 trillion in his budget. That’s a given. His budget for revenue is a pie in the sky lie. He knows it. I know it. You know it. He declares that he will collect $1.36 trillion of individual income taxes and $348 billion of corporate taxes. Does this pass the smell test?

This current fiscal year will provide $1.16 trillion of individual income taxes and possibly $237 billion of corporate taxes. Last year provided $1.09 trillion and $181 billion respectively.

There is not a chance in hell that he will get $300 billion more in tax revenue from individuals and corporations next year. Corporate profits have begun to drop. Wages are stagnant. Employment is not accelerating. The economy is going into recession. His $901 billion budget deficit projection is a bald faced lie. It will be north of $1.2 trillion. You can book it.

If you want to delve into the Federal Budget, here is a link to a cool website:

http://www.usgovernmentrevenue.com/classic

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