President Obama presents his new budget plan: A financial nightmare, what is he thinking?

Credit: The Scream, Wikipedia

Is President Obama crazy? In submitting to Congress his 2013 budget, he wants to give countries involved in the 'Arab Spring' with $800 million dollars of cold hard cash even though we are in the midst of a 'stagflation' and on the brink of world economic collapse, and to mention a record budget deficit that will reverberate for decades.  Now most of the economic aid announced for the Arab Spring countries -- $770 million -- would go to establishing a new "Middle East and North Africa Incentive Fund," President Obama. His budget plan did not however say how the Middle East and North Africa Incentive Fund would be divided between countries, or give any other details of the plan. So basically its another black hole where money will just be sucked in with no oversight.

John Norris, a former U.S. foreign aid worker now at the Center for American Progress said it best, "As presented it's very difficult to determine if the Arab spring fund is new wine in new bottles or old wine in new bottles."

Credit: Left-Reuters/Larry Downing

Just ludicrous to think, when our 2012 deficit is NOW projected at $1.33 trillion, higher than the CBO (Congressional Budget Office) projected. The Obama administration is projecting that budget deficits will go down “in the future”, but comes on that`s what our politicians always say and do. Always promising that the budget will improve “down the road”, but that never actually happens.

When Ronald Reagan was elected, the U.S. national debt was less than 1 trillion dollars. Today, the U.S. national debt is over 
15.3 trillion dollars. 

"Future generations will inherit a collapsed economy and the biggest debt in the history of the world. But we all prance around like we are the smartest people that have ever existed on the face of the earth. The rest of the world is laughing at us. So why don’t some honest politicians step forward and tell the American people that we need to stop spending so much money?" 

Additional Info:
Obama`s budget draws fire, send his 3.8 trillion dollar budget to Congress
Obama proposes $800 million in aid for "Arab Spring"
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