On Wednesday, two months late, the Obama administration unveiled their budget which is being marketed as a "grand bargain." The proposal includes $3.77 trillion in spending and will add $744 billion to the deficit. It calls for more stimulus and replacements for the sequester cuts.
“Every new initiative in the plan is fully paid for, so they do not add a single dime to the deficit,” the White House promised on Tuesday. The proposal includes free and universal access to pre-kindergarten for all four-year-olds, and $1 billion to launch “a network of 15 manufacturing innovation institutes across the country.”
Republican House Budget Committee Chairman Paul Ryan said in a statement Wednesday that the Obama budget "merely ratifies the status quo."
It doesn’t break new ground; it goes over old ground: It takes more from families to spend more in Washington. And the White House says they never balance the budget. Instead, it raises taxes by $1.1 trillion. It increases spending by $964 billion. And it adds $8.2 trillion to our debt.
Host of "The Wall Street Shuffle," Dan Cofall joined 'Wilkow!' Wednesday to discuss the budget and how disconnected the White House is from fiscal reality. Watch a clip below with Wednesday's guest host David Webb. of Sirius XM Patriot: