If you’re headed for a cliff
you’ve got to change direction says our President."Our public policy definitely needs a change in direction. But the Obama Administration’s budget is not a change in direction. Instead, it is a foot on the accelerator taking us off that cliff . . . The only sharp break President Obama takes away from President Bush is the amount of money he takes from the American people. President Bush reduced taxes by approximately $2 trillion; President Obama has proposed raising taxes by $1.4 trillion. Yet even after taking $1.4 trillion more out of the private sector, Obama’s budget still would double the public debt level to $15.4 trillion. Between 2008 and 2013, the budget will add $5.7 trillion ($48,000 per U.S. household) in new government debt. The annual interest on this debt would nearly equal the entire U.S. defense budget by 2019.
Read the entire entry here.
Posts
2 comments:
Murray sez:
Welcome back Norma. As you can see the economic news is worse than when you left. You're right, Obama has the pedal to the metal. Someone needs to take the keys away from him, Pelosi and Reid. The hipocrisy that I've witnessed the last several weeks is mind boggling! Obama has a news conference every day and each time he talks the national debt increases and everyone's net worth goes down.
But he's doing less stammering--I see he's using a teleprompter for reporters--does someone feed him the correct words? I didn't see that before I left. We only had 2 English channels on ship--BBC and CNN and sometimes I'd just switch to the Russian cartoonish, costumed reality shows--made more sense than our reality.
Post a Comment