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
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.
by lady_love158 7 years ago
http://finance.yahoo.com/news/CBO-Obama … amp;ccode=You can bet if the CBO says Obamas numbers are off by 2.3 trillion the REAL numbers are at least double THAT! This president this " spectator in chief" is out of touch with reality along with the rest of the socialist democrats!
by crankalicious 4 years ago
What do you think of this "factoid":Every Democratic president since Jimmy Carter left a smaller deficit than he inherited (including Obama).Every Republican president since Dwight Eisenhower left a bigger one.Does this: annoy you, anger you, surprise you?Discuss!
by Doug Hughes 7 years ago
My Hat's off to Steve Benen for this column from which I post a portion."1980: Ronald Reagan runs for president, promising a balanced budget 1981 -1989: With support from congressional Republicans, Reagan runs enormous deficits, adds $2 trillion to the debt. 1993: Bill Clinton passes economic...
by Ralph Deeds 5 years ago
Paul Krugman:" Back in 2010, self-styled deficit hawks — better described as deficit scolds — took over much of our political discourse. At a time of mass unemployment and record-low borrowing costs, a time when economic theory said we needed more, not less, deficit spending, the scolds...
Copyright © 2018 HubPages Inc. and respective owners. Other product and company names shown may be trademarks of their respective owners. HubPages® is a registered Service Mark of HubPages, Inc. HubPages and Hubbers (authors) may earn revenue on this page based on affiliate relationships and advertisements with partners including Amazon, Google, and others.
|HubPages Device ID||This is used to identify particular browsers or devices when the access the service, and is used for security reasons.|
|Login||This is necessary to sign in to the HubPages Service.|
|HubPages Traffic Pixel||This is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.|
|Remarketing Pixels||We may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.|
|Conversion Tracking Pixels||We may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.|