Hate to bust your bubble yet again, but the vast majority of Obama's spend fest is borrowed money. As has been pointed out elsewhere, the idea that he's going to pay for it all with tax increases on the rich is a lie to appease his gullible constituents.

Read these CBO projections.

Baseline: All tax cuts expire on schedule in 2010, assume the spending levels we had prior to the new trillion dollar breakouts. Cumulative deficit of $3.1 trillion from 2010 to 2019.

Third alternative scenario: War in Iraq winds down. Tax cuts expire only on the rich. But assume Obama's "stimulus" and his new budget plans. Cumulative deficit of $8.7 trillion (baseline plus $5.6 trillion.)

It ain't the tax cuts. It's never been the tax cuts.