Phil Kerpen at FOX tells readers there's a blank line in the budget which he labels Obama's "slush fund." Here's what he writes about it:
The budget actually has, literally, a blank line for the cap-and-trade tax. A black box. A slush fund. A secret budget-within-the-budget. Talk about a lack of transparency.
The blank line is labeled: “Allowance for climate policy.” There is no disclosure in the new budget of the revenue expected, but as recently as August 25, 2009 (in Obama’s 2010 Mid-Session Review) the administration counted on $627 billion in “climate revenues” between 2012 and 2019.The Heritage Foundation calls the President's budget a "spending spree that will drive up both taxes and deficits." The analysis goes on to say it will:
The 2011 budget tries to explain away the costs of cap-and-trade a footnote (p. 4) that says all of the revenue will be spent -- claiming climate policy is therefore deficit neutral....But deficit neutrality is beside the point. This is a budget; it’s supposed to show us the total amount of revenue planned and what it’s going to be spent on.....
The blank line for hundreds of billions or trillions of dollars in higher taxes and spending flies in the face of every promise this administration has made about transparency and accountability, and conceals the true scope and cost of Obama’s budget plans. [Read complete article.]
Permanently expand the federal government by nearly 3 percent of gross domestic product (GDP) over 2007 pre-recession levels;
Raise taxes onall Americans by more than $2 trillion over the next decade (counting health care reform and cap and trade);
Raise taxes for 3.2 million small businesses and upper-income taxpayers by an average of $300,000 over the next decade;
Borrow 42 cents for each dollar spent in 2010;
Run a $1.6 trillion deficit in 2010--$143 billion higher than the recession-driven 2009 deficit;
Leave permanent deficits that top $1 trillion in as late as 2020; and