Trillions and Trillions

President Obama's Director of the Office of Management and Budget trailed the FY12 federal budget for the media the day before the budget was sent up to Congress, yesterday.  Reported Reuters:President Barack Obama's proposed budget for fiscal 2012 will seek to cut the record federal deficit by $1.1 trillion over the next 10 years, White House budget director Jack Lew said on Sunday.The liberal base wants to hear about Pentagon cuts, and "A Democratic aide said the budget would reduce Pentagon spending by $78 billion over five years."  But Sen. Mitch McConnell (R-KY) told a group in Kentucky that the Obama agenda is over. "He said the Democratic president's credentials on spending and debt "are horrible, and he earned it.'"Nobody is yet saying that the president's budget is "dead on arrival," as Democrats used to say with relish in the 1980s.Of course, nobody is doing anything about entitlements either.  Not yet.  However, the...(Read Full Article)