President Obama is never at a loss to note that he inherited a trillion-dollar deficit. But, for a man that's expressed so much outrage towards this deficit, he sure is doing his best to see that it keeps grows higher and higher.
On Friday, the CBO (Congressional Budget Office) released its analysis of President Obama's Fiscal
Year 2010 budget, finding that if enacted as is, his big spending proposals would increase the federal deficit by $2.3 trillion more than the President had estimated.
According to the Wall Street Journal , the "President is seeing that $1 trillion [deficit] and raising it again and again, as far as the eye can see."
By 2019, the share of the public debt will double to 82.4% from 40.8% in 2008 - and this is without even considering the estimated $2-trillion toll that the President's health care plans will have on the taxpayers’ economic burdens.
Given the all the promises of "fiscal responsibility" we heard from the majority all last fall, the Democrats’ proposals are coming no where close to financially prudent legislation. The more we see from the White House and the Congressional majority, the more it's obvious that our nation can't afford what they're trying to sell.