Monday, February 14, 2011

President Obama Wants "discretionary budget freeze" ... after increasing spending by 84%

"What the hell do I do now?"
Washington DC, Feb 14, 2011. President Barack Hussein Obama, D-Kenya, is projecting that the gross federal debt will top $15 trillion this year, officially equaling the size of the entire U.S. economy.

And after President Obama increased federal spending by a whopping 84%, he now wants to freeze discretionary spending at that level!

Amid the other staggering numbers in the budget President. Obama sent to Congress on Monday, the debt stands out as a new record.

Congress will need to vote to raise the debt limit again later this year, because the deficits will be so large.

President Obama‘s 2011 budget will be the biggest one-year jump in debt in history, or nearly $2 trillion in a single year. And the administration says it will reach $15.476 trillion by Sept. 30, the end of the fiscal year, to reach 102.6% of gross domestic product (GDP) — the first time since World War II that dubious figure has been reached.

That's right. You read that correctly. In seven more months our national debt will exceed our GDP. And this is coming from a man who campaigned on the pledge to reduce the deficit!

Tax cuts have historically created new jobs
The president’s budget will create debt as a percentage of GDP that will reach 106%  in 2013, but only if the economy booms. And that's a pretty big "if." Because the $3.6 trillion in deficit spending designed to "stimulate the economy" has bore no fruit so far.

By every single imaginable measurement all this bloated spending has made the economy worse, not better.

We have more people unemployed, more people collecting food-stamps, more people living below the poverty level, and more national debt than the rest of the world combined.

But typical of liberal Democrat thinking... "when something fails miserably, then you need to do more of it." Which is exactly what the president's budget will do. He will spend even more more money (that we don't have, and will need to borrow) on some hope that this will somehow create some jobs.

It really makes you wonder what might have happened if the Administration "spent" half that wasted money on tax cuts? Could the result have possibly been worse? Historically, tax cutting has always created more jobs, by really stimulating the economy. It worked for JFK, and it worked for Ronald Reagan.

But this administration thinks the road to prosperity will be paved by borrowing more money, spending it on frivolous programs, then raising taxes.

You also have to wonder if that $3.6 trillion in new debt were spent on things Obama promised to do, but never did, would have created some new jobs. Things like real infrastructure projects.

Perhaps we could have created a few jobs by building that border fence?

Instead, the President wants to build high speed rails to take people to jobs they don't have faster. Of course, this might simply be paying back GE for their generous campaign donations...

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