For a guy who stated that he was going to halve the deficit by 2013, the President certainly isn't off to a very good start. His proposed FY10 budget is reaching upwards of $3.6T. WSJ has the details:
President Barack Obama delivered a $3.6 trillion budget blueprint to Congress Thursday that aims to "break from a troubled past," with expanded government activism, tax increases on affluent families and businesses, and spending cuts targeted at those he says profited from "an era of profound irresponsibility."...The below graph shows the years of surplus vs. deficit leading up to 2010 and proves that no politician of any party can be trusted to govern in a fiscally responsible fashion.
...The president blamed the nation's economic travails on the administration that preceded him and on a nation that lost its bearings. His budget plan projects a federal deficit of $1.75 trillion for 2009, or 12.3% of the gross domestic product, a level not seen since 1942 as the U.S. plunged into World War II.
Where's Ross Perot when you need him.
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1 comments:
I saw a cartoon today that showed two surgeons trying to patch a guy up. The bleeding wouldn't stop and one dr says, shouldn't we close that artery? The other one says, nope, let's cut more holes and see if that stops the bleeding.
Two things stick out to me. First is that the deficit seemed to grow when the dems took control of congress. Perhaps a plan to shed a poor light on Bush in hopes of a run on the White House in 2008? Also, it seems that every other war had tax increases, rationing of goods, war bonds, ect to pay for them. Since we have had none of those things, maybe it is just catching up to us now.
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