Decrying "a decade of deficits" on Monday, President Obama declared that "my budget lays out a path for how we can pay down these debts." Senior Editor Jacob Sullum says it is hard to see how that can be true, since Obama's plan would add $6.7 trillion to the national debt during the next decade. The president thus begins his fourth year in office the way he began his first, Sullum writes: preaching prudence while practicing profligacy.
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