The latest budget proposed by President Barack Obma dashes any hope to see government spending as a percentage of gross domestic product reduced.

The document makes no pretense at fundamentally sound fiscal or monetary policy. Instead it promises more unsustainable vote creation stimulus for a bloated infrastructure.

Sadly, his budget is little more than a screed against those who oppose his demands for more tribute, choking out free market vision and the funds necessary for a diversified economy.

The billions of decisions made in a free market are being displaced by elite economic czars bestowing grants on universities and contracts to industries they deem politically reliable. Their lack of vision is reflected in the only resource allocation they can imagine: infrastructure. They justify their horrific decisions by promising to fund their mistakes by taxing 283,000 Americans who make $1 million a year. Confiscation of everything they own would not cover the cost of the new stimulus.

How will it all end? Japan is the last great economic power to use central planning to recover from a real estate bubble.

Joe Exum

Snow Hill