Obama's World of Fiscal Fantasy

By KARL ROVE (WSJ)
Obama's Fiscal Fantasy World
Spending is up nearly 24% since Bush's last full budget year.

At the beginning of his term, Americans believed Mr. Obama would follow through on his campaign promises about "cutting wasteful spending" and going "through the federal budget, line-by-line, ending programs that we don't need" and putting "an end to the run-away spending the record deficits."
After a year of living in his fiscal fantasy world, Americans realize they have a record deficit-setting, budget-busting spender on their hands. Voters are now reading the fine print on all that Mr. Obama proposes and as they do, his credibility, already badly damaged, suffers.
Whatever Mr. Obama says in his State of the Union, Republicans need to be tougher on spending and deficits. Later this month, Senate Republicans are planning to force their colleagues to go on the record on how to spend returned TARP funds by demanding that Democrats vote on the issue. Some House Republicans are also considering calling for a return to the level of discretionary domestic spending that existed when Mr. Obama entered office last January.
Few things focus the attention of politicians as much as approaching elections. Democrats are aware that spending and deficits are big reasons Republicans have a nine-point lead on the Rasmussen Poll's generic ballot.

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