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Obama budget projects record deficits and borrowing

  1. nicomp profile image62
    nicompposted 7 years ago

    The federal government is a horrific burden on private enterprise. For Fiscal Year 2009, almost 1/2 of the money spent by the Obama administration will be borrowed. The FY 2009 deficit is 4 times larger than any other deficit budgeted by any other president.

    "Obama budget projects record deficits and borrowing"
    http://www.globalresearch.ca/index.php? … leId=12491

    "CBO: Obama's Proposed Budget Would Require Trillions in Borrowing"
    http://www.californiahealthline.org/Art … are+Reform

  2. Misha profile image76
    Mishaposted 7 years ago

    How dare you! Obama is change and hope! lol

    1. nicomp profile image62
      nicompposted 7 years ago in reply to this

      I hope my grandchildren can pay these crushing debts. wink

  3. ledefensetech profile image81
    ledefensetechposted 7 years ago

    They won't.  It's like a giant game of musical chairs.  Each politician puts off making a decision hoping the problem will break on the following generation.  When that happens, the US will follow every other nation who has devalued their currency and defaulted on their loans.  Of course then, nobody would lend to us, which isn't a bad thing because we're like a chocoholic on a binge right now in a chocolate factory.  When the enormity of what's been put over on us finally reaches the consciousness of the mass, the result will be terrifying.  It's my belief that the excesses of the French Revolution won't hold a candle to what's coming.  Unlike most, I hope it happens soon because the longer the wait, the longer the fall.