The Bush-Obama bailout inspiration continues with the introduction of a $3.6 trillion dollar spending plan for the federal government. There are supposedly $17 billion in “cuts” in this budget, but the Wall Street Journal lays out a little more detail.

President Barack Obama delivered Congress the details of his $3.6 trillion budget Thursday, eliminating or cutting back 121 programs but swamping the $17 billion in savings with new efforts, from a college-completion fund to a new affordable-housing trust fund to 50,000 more cops on the beat.

At a time when state and local governments are slashing services, the Obama budget for 2010 shows little real sign of belt-tightening.

The $17 billion in cuts amount to about 0.5% of the $3.6 trillion spending plan. And with absolutely zero belt tightening and massive increases in spending, we’re about to see if we can have our prosperity and eat it too.

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