A Tsunami of Borrowing and Spending
The political-media establishment largely dismissed the nationwide tea party protests as inconsequential whining by a few fringe weirdos.
During his Presidential campaign Barack Obama continuously assailed “irresponsible Bush deficits” and warned that John McCain would increase the debt by $4.3 Trillion over ten years.
Obama Deficits
As the table shows, his plans will increase the debt by almost that much within just two years.
Since this is the same establishment media and politicians who complained bitterly about the “Bush deficits being passed on to our children and grand children,” one wonders how Obama’s supporters and the Democrats in Congress can be so sanguine about the Obama Administration’s numerous, urgent, borrow-and-spend initiatives.
In another of the President’s many nonsensical assertions, clearly targeting for deception those who are uninformed, he claims almost daily that his spending is a change from “borrow-and-spend to save-and-invest.” Obviously, this is preposterous.
Obama is doing exactly the same thing Bush and all previous Presidents did. He is borrowing money and spending it. His initiatives do not qualify for the label “investment.”
Where were you deficit hawks when Bush was running deficits?
Every credible economist, on the left and on the right, agrees stimulus spending is vital to prevent deflation and economic melt down.
this president is borrowing us into bankruptcy.
Any economist who says another 4 trillion in debt is what we need to become prosperous is an idiot.
Obama the Fraudulent