Donald Lambro

Take, for example, Sen. Claire McCaskill, Missouri Democrat, who distanced herself from Obama's budget Monday, saying that the size of his massive budget deficits were "unacceptable."

Notably, the budget reviews from the Washington news media's liberals have been among the most critical of Obama's presidency.

"The White House's budget for fiscal 2013 begins with a broken promise, adds some phony policy assumptions, throws in a few rosy forecasts and omits all kinds of painful decisions," writes Dana Milbank, the Washington Post's left-wing commentator.

Even the liberal New York Times was disappointed with the president's bulging budget, saying that it was "more a platform for the president's reelection campaign than a legislative proposal."

Among this budget's more egregious scandals and shortcomings:

-- Obama's failed promise to cut the budget deficit in half in four years. After three straight years of trillion-dollar-plus deficits, the 2012 revised deficit worsens under this week's projections.

-- The budget deficit will soar this year to $1.33 trillion, a bit higher than last year's $1.3 trillion -- or $200 billion more than the nonpartisan Congressional Budget Office recently estimated.

-- The government's debt skyrockets under Obama's spending policies to $18.7 trillion by 2021 -- a stunning 76.5 percent of our economy. That's double the debt, held by investors, of 2007, the year before the U.S. economy plunged into a recession. And $1 trillion more than the White House projected last September.

-- Obama's proposed budgetary house of cards is built on a mountain of tax increases -- $1.5 trillion in higher tax levies on big corporations, capital investors and small businesses. Much of the new revenue would come from letting President George W. Bush's tax cuts expire on individuals earning more than $200,000 and two-earner households making more than $250,000 whose tax bill would rise to nearly 40 percent.

-- Obama insists that his budget really cuts spending, but it is hard to see any serious reduction in expenditures. The plan would pump close to half a trillion dollars more into new transportation projects and so-called job-creating "stimulus" spending on public works projects. Where have we heard that before?

In fact, he calls for major spending increases. Among them: a 5 percent raise for the Commerce Department; 2.5 percent more for Education; 3.2 percent more for Energy; 2 percent higher for Transportation; and a 5 percent hike for the National Science Foundation.

The most preposterous assumptions in this budget are the ones projecting a sharp increase in economic growth to make future tax revenue estimates look a lot better than most economists say is likely.

The budget assumes that Obama's second term will see 3.9 percent economic growth between 2014 to 2017, a pie-in-the-sky forecast that no economist is making at this time. This, together with Obama's higher taxes, would bring the deficit down to a projected $612 billion in fiscal 2017, according to the administration's rosy assumptions.

"If you believe that one, Mayor Bloomberg is selling shares in the Brooklyn Bridge," said University of Maryland economist Peter Morici.


Donald Lambro

Donald Lambro is chief political correspondent for The Washington Times.