March 25th 2009
Handy Talking Points On Obama’s Budget
P
eter Ferrara doesn’t exactly hold back on his Fox op/ed on Obama’s budget; he titled it simply, Obama’s Budget: It’s Absolutely Insane! It’s worth reading and emailing to your friends (particularly your liberal ones), but for your convenience, I’ve excerpted some of the gee-whizzers for your use. Just clip out this post and carry it with you.
The budget Obama proposes for this year increases federal spending by 34% over the budget adopted for last year, with a total of $4 trillion in federal spending, the highest EVER.
Under the Obama budget, the national debt will more than double over the next 10 years from 40% of GDP today to 82%! Ronald Reagan left office with the national debt at 42% of GDP. (Congressional Budget Office stats)
If the economy does not recover permanently next year, Obama’s national debt could even top the historic World War II record of 114% of GDP. (Are we fighting Nazis here?)
The deficit would reach a $1.845 trillion this year, according to the CBO. That’s more than four times greater than Reagan’s largest deficit – and you know how much Libs and Dems howled about that!
Obama’s budget deficit will total 13.1% of GDP, more than one-eighth of the entire U.S. economy! That is the largest in U.S. history except for World War II and more than twice Reagan’s highest deficit as a percent of GDP. (CBO stats)
There is not one item in Obama’s budget that promotes saving and investment. Quite to the contrary, the capital gains and dividend tax rate increases he proposes for the top income tax brackets will reduce saving and investment.
And the GOP budget alternative? Remember how Obama lambasted the GOP for not having an alternative? Of course he knew, even as he lambasted, that the GOP alternative is coming next week from Rep. Paul Ryan (R-Wis.), the ranking Republican on the House Budget Committee.
Posted in Economic Policy, Obama | 3 Comments » | |
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Comments
March 25th, 2009 at 2:55 pm
Good Lord! Electing Obama was like giving an adolescent our Platinum Master Card, wasn’t it?
March 25th, 2009 at 4:14 pm
The wizard can’t fool all of the people. Wake up! We’re not in Oz anymore.
March 25th, 2009 at 6:29 pm
What I found funny was that he kept saying that his budget plan would cut the deficit in half, blah, blah blah. He failed to mention that the “cutting in half” aspect doesn’t sound as promising when you double the deficit first. I guess this is what happens when the media steam-rolls a president into the White House.