Faulty 2011 Budget Plan

1. The 2011 fiscal year budget has 5 items that are acknowledged as "frozen" (national security, Social Security, Medicare, Medicaid, and net interest on debt) for a total of $2.6 trillion. Projected revenue with numerous tax increases on the "wealthy and "fees" (which are taxes) on certain industries and products, is $2.6 trillion; not all of the increase and fees will actually get through Congress.This leaves unsupported all non-security discretionary spending and other mandated programs at a minimum deficit of $1.2 trillion but more likely $1.6 trillion.The current 2010 fiscal budget is approximately in the same shape.
2. Obama's plan to cut a small fraction of the $500 billion non-discretionary spending next year is a joke compared to the size of the problem.
3. The revenue side must be increased and this can only be done by creating jobs and wealth in the PRIVATE sector.
4. Proposals for further taxing the "rich", taxing gains and dividends , other hidden "fees" (actually taxes by another name which will fall on everyone) and stifling growth by further taxing of corporations with overseas operations(when the U.S. has the highest corporate tax rate of 30 top industrialized nations) will decrease investment, decrease exports and cost jobs.
5. Now, how is more government spending for public sector jobs or more mandated entitlements going to help?
6. It will certainly make Washington more powerful and give politicians a control over a larger fraction of the GDP and thus over votes, but it will not help grow the GDP or revenues topay for existing programs.