Fiscal insanity
July 15th 2009 23:31
In America, people may disagree about how big the government should be, but our country is now on a path to financial ruin. Consider this analysis by The Heritage Foundation:
It is accompanied by this graph showing projected budget deficits:
I was no fan of Bush because of how he increased the deficit with his profligate spending. Obama makes Bush look miserly by comparison, though. How does he think we can continue functioning as a nation with that large of a deficit? If that budget belonged to an individual or a business, bankruptcy would be inevitable.
Mr. President, I understand that some government spending was necessary upfront to stimulate the economy (although your "stimulus" was filled with pork and probably won't do much of anything to help us). However, your spending goes way beyond any short-term stimulus. Stop spending our children's and grandchildren's future earnings. We're broke. If you keep this up, we'll have to start hocking our favorite jewelry and guitars to raise enough money to keep the bill collectors off our backs.
Stop. The. Insanity.
President Barack Obama has repeatedly claimed that his budget would cut the deficit by half by the end of his term. But as Heritage analyst Brian Riedl has pointed out, given that Obama has already helped quadruple the deficit with his stimulus package, pledging to halve it by 2013 is hardly ambitious.
It is accompanied by this graph showing projected budget deficits:
I was no fan of Bush because of how he increased the deficit with his profligate spending. Obama makes Bush look miserly by comparison, though. How does he think we can continue functioning as a nation with that large of a deficit? If that budget belonged to an individual or a business, bankruptcy would be inevitable.
Mr. President, I understand that some government spending was necessary upfront to stimulate the economy (although your "stimulus" was filled with pork and probably won't do much of anything to help us). However, your spending goes way beyond any short-term stimulus. Stop spending our children's and grandchildren's future earnings. We're broke. If you keep this up, we'll have to start hocking our favorite jewelry and guitars to raise enough money to keep the bill collectors off our backs.
Stop. The. Insanity.
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Comment by S.L.
The Political Brief
Comment by PopulistConservative
Angry Electorate
Obama came in and was determined to push through his agenda -- regardless of what was going on. He should've been focused on cutting long-term government spending and helping to spur the creation of jobs. He didn't do that, though. Now, he's on the verge of the whole thing blowing up. From what I've read, China (our loan shark) is ready to cut us off. He may be forced to curtail his grand plans for a reshaping of our country.
Comment by signals
The Health Fanatic
The Natural Order
Media Piranha
Arrogant News
The Dope Chronicles
Financial Ramble
Comment by S.L.
The Political Brief
China pretty much owns us already and he's trying to find more people to sell us out to. Before he's done we'll be a "wholly owned subsidiary" of everybody else. And a third world country, as well.
Comment by PopulistConservative
Angry Electorate
We're at the mercy of China now, SL. Is it any wonder we don't get tough with them on trade issues?
Comment by S.L.
The Political Brief