The Dalai Obama recently suggested that government must act as responsibly as families do when they set their budgets and wants legislation that would require lawmakers to offset any new tax cuts or spending increases with off-setting tax increases or spending cuts. 

I’m sure he means well, but the way I see most families budget is to see something they want and buy it on credit.  And, this seems consistent with our new administration’s budget methods as well, so all is good on the south lawn.

Now, he just spent his first three months pending about 1 trillion dollars with another 1 trillion to bailout out financial institutions – and wants to cut the deficit.  While he acknowledges that all across America, families are tightening their belts and making hard choices, he believes now is the time for the government to do the same.  Seems a bit late for the Worried Worker, but at least it’s on a post-it note on the White House refrigerator door.

A couple of key points.

Americans aren’t tightening their belts because of making hard choices.  They’re tightening them because they’re eating less because they have less money.  As a result, the president is inadvertently helping obese Americans reduce their fat.

While he touts that he asked his cabinet to cut 100 million dollars from their expenses, he forgot to tell Americans that that’s like asking a family that spends $40,000 a year to cut $1 from its budget.  This is pay-go?  Or, pay for Bo?

And, he identified 2 trillion in deficit reductions over the next decade.

So, let’s do the new math together.

Spend 2 trillion dollars in less than 100 days, and pay it back within 10 years.

I wish all Worried Workers could get the same loan terms, don’t you?