The CBO looks at Obama’s budgets:
If President Obama’s 2011 budget were put into effect as proposed, the U.S. federal government would add an estimated $9.8 trillion to the country’s accrued debt over the next decade, according to a preliminary analysis from the Congressional Budget Office.
Of that amount, an estimated $5.6 trillion will be in interest alone.
By 2020, the agency estimates debt held by the public would reach $20.3 trillion, or 90% of GDP. That’s up from 53% of GDP in 2009.
Frankly, it will be a lot worse. The rosy projections of revenue will not work out. Nor will the planned spending. The latter will be ever so much higher than predicted and the former will be much, much lower. Bank on it.
A trillion here, a trillion there. Pretty soon you’re looking at real economic collapse.
Look at the interest alone, folks. Not only is this spending unsustainable, this spending is deranged. This is a recipe for a ruined economy.
And it is one man doing this with the assistance of the mad Democrats in control of Congress. How are they planning on fixing this mess?
Why they are spending even more.
Time to clean house. Come November, we have to fix this. Get these maniacs out, get some fiscal discipline. Or we are dooming ourselves and our offspring. For many generations.
Time to take it back, folks. Or we will all fall.
Gaius, you’ve got it right. Obama’s spending is a recipe designed to produce economic collapse, and he has no intention of fixing anything. It’s all part of the plan.
The so-called Stimulus Bill did almost nothing to stimulate the economy, although it did allow State and local governments to continue expanding public sector spending at a breakneck space. Only to put the unwanted burden of repayment on the backs of taxpayers stretching to future generations. That was on top of TARP and in anticipation of trillions wasted on bogus healthcare reform.
Obama knows what he’s doing, he just doesn’t want the people to catch on till it’s too late to stop him. His hidden agenda is the collapse of our economic system and the conversion of American free enterprise into his vision of a centrally planned and government enforced Marxist society.
He’s well on his way to success. Our elected representatives in Congress aren’t capable of the unity necessary to prevent Obama from fundamentally transforming the country, over half of them are more or less aiding an abetting his takeover.
Unless the American citizens themselves stop Obama and reestablish their sovereignty over the national government, our future as an independent people will end, and our freedoms will be limited to only those approved by our newly imposed Masters.
“Obama’s spending is a recipe designed to produce economic collapse, and he has no intention of fixing anything. It’s all part of the plan.”
And approximately 50% still ‘personally approve’ of the man? I imagine this to be interpreted as an “Are you a racist?” gauntlet.
Don’t believe ‘success’ is any part of Obama’s future except as pariah.