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President Obama presented his latest “budget” proposal, and as Democratic Representative Emanuel Cleaver said, it’s like a nervous breakdown on paper.  Not for the reasons that Cleaver cites, but because it makes no attempt to close or even shrink the astronomical budget deficit.

Just over a year ago, President Obama released his budget for fiscal year 2012. The budget, which called for a $1.1 trillion deficit, received not a single vote in the Senate.  Republicans, Democrats, and everyone in between voted in a 97-0 vote to stamp the proposal with “Return to Sender” and put it right back on the President’s desk.  With such a unanimous defeat, one would assume that President Obama would have his errors in mind as he drafted his 2013 proposal.  With the budget proposal currently making its rounds, I’m seeing now more than ever that Washington never learns from its mistakes.

The proposal calls for $3.8 trillion in spending, which will actually increase the 2013 budget deficit to over $1.3 trillion.  That’s $200 billion more than the 2012 budget that was universally panned by everyone in the Senate.  His latest effort involves tax hikes to the so-called rich by ending the Bush tax cuts and imposing the ridiculous Buffett rule, which will ensure that families making over $1 million annually pay at least 30% on all income, including all money from investments that’s already been taxed once.  We’ve got laws preventing people from being tried twice for one crime, why not impose a law that prevents people from being taxed twice on the same money?

Aside from raising taxes on job creators, the President plans to enact a new fee on the nation’s largest financial institutions.  Whether the boneheads in Washington realize it or not, the revenue banks lose as a result of that fee will then be passed on to customers because a bank has to be profitable too.

The President does call for some cuts, but their impact is largely overblown.  The over $1 trillion in cuts will be carried out over the next 10 years, which amounts to about $100 billion annually, or less than 10% of this budget’s deficit.  Hardly anything to write home about, unless you’re in the habit of getting worked up over things like 10% discounts.

The best part about President Obama’s latest budget and subsequent deficit is that just 3 years ago, President Obama pledged to Americans that he’d cut the deficit in half because he refused to “leave our children with a debt they cannot repay.”  To the President, “cut in half” actually means “multiply by 3″ because the deficit he inherited was $438 brillion.  That pledge made for great rhetoric, but the fact that he hasn’t made a single effort to spend responsibly speaks to the poor leadership that’s been a characteristic of his Presidency.

President Obama may not give us a budget surplus, but I’ll give him this:

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