Last week's presentation of his budget shows that hope was a mirage.
For example, Mr. Obama didn't run promising larger deficits -- but now is offering record-setting ones. He'll add $4.9 trillion before his term ends and $7.4 trillion if given a second, doubling the national debt in five years and tripling it in 10. Mr. Obama's deficits will be much larger than he admits because he relies on rosy economic assumptions and gimmicks that mask spending and debt (like assuming popular new programs he supports won't be renewed).
Nor did Mr. Obama run promising more earmarks. Instead, he said he'd reform the earmark culture and "scour the federal budget, line by line, and make meaningful cuts." Now he wants to wave through a $410 billion omnibus spending bill with about 8,500 earmarks. This is on top of the $787 billion stimulus bill signed into law two weeks ago.FULL ARTICLE: http://online.wsj.com/article/SB123621161271234665.html