There are two news stories today about rampant spending by our government that will lead to another trillion dollars of deficit, and this is while Obama is claiming he will reduce the deficit by one half in a few years! Must be monopoly money to them
“Obama’s budget overview will call for between $3.5 trillion and $4 trillion in spending in fiscal year 2010 and creates space for up to $750 billion in additional bank bailout funds this year - money that hasn’t been requested and the administration hopes will not be necessary to stabilize the still-reeling financial system.”
Yikes! I knew the Democrats liked to spend, but this is ridiculous!
didn’t he say like 3 days ago he was going to half the deficit by 2013? i think he is moving in the wrong direction to do so.
That’s his plan… Blow the deficit up, then cut it in half. Which would still leave it almost twice Bush’s biggest deficit. He’ll increase the national debt by 60% in 3 years, and still blame it all on Bush. :dough:
The Democrats are not anchored by reality, so the numbers could be anything and they’d be fine with it. I mean, other countries have inflated their money supply out of existence, e.g. Nazi Germany. So, don’t think for a moment that they won’t do it here. The same sort of collectivist mentalities are in power today.
Salsman describes the situation here and points out that power lust is the driving factor, not concern for the economy:
“Looking to fund an ambitious healthcare program and put more money in the hands of the poor and the non-working, President Barack Obama wants wealthier Americans and businesses to pay nearly $1 trillion in higher taxes over the next decade.”
Obama still has the unmitigated gall to claim that 95% of Americans won’t pay higher taxes. What about his “cap & trade” plan that will force businesses to raise prices? Does that qualify as a tax increase?
This whole thing is mind boggling. It’s hard to even comprehend the amounts of money Obama, Pelosi and Reid are throwing around.
Obama still has the unmitigated gall to claim that 95% of Americans won’t pay higher taxes. What about his “cap & trade” plan that will force businesses to raise prices? Does that qualify as a tax increase?
Obama and Co. know they cannot raise enough cash by just squeezing the rich. The middle class is where the real wealth is. But rather than tax them directly and lose the next election, they tax business knowing full well that business will pass along the increase to the consumers. Having already set big business up as a villain, the price increases brought about by thngs like ‘cap and trade’ will be blamed on corporate greed and price gouging. Its a win-win situation for the statists.
It has only been a few weeks and President Blank Screen already qualifies as one of the most destructive and dishonest leaders we’ve had. I wouldn’t be surprised if the next “earmark free” spending spree includes “non earmark” funding to help register horses to vote or “non earmark” funding to analyze the boogers of aardvarks.
