Our new President apparently believes the fiction that you can borrow your way out of debt.
His spending bills have saddled Americans for the next few generations with unimaginable debt, and now the messiah says he will halve the deficit, even though he has already borrowed over one trillion dollars. Government spending dollars are so out of control, they have lost their meaning; have you ever written down a trillion? $1,000,000,000,000. Obama’s “stimulus plan” has indeed stimulated the economy; unemployment is rising and businesses are cutting back. The Dow Jones has fallen steadily on the good news, and plunged even deeper with the new $3.6 trillion budget announcement. Financial writer Larry Kudlow said, “Obama is declaring war on investors, entrepreneurs, small businesses, large corporations, and private-equity and venture-capital funds.” Sadly, these are the drivers of the engine of our market system. Former House Speaker Newt Gingrich said of Obama’s budget: “President Barack Obama's $3.6 trillion budget plan is a "higher-tax, weaker-economy, fewer-jobs" blueprint for the future. This is the exact opposite of what Obama is telling the American public that it will do but much more realistic, particularly coming on the heels of the deficit breaking trillion plus spending extravaganza already perpetrated by the Democrats. All this will not be inconsequential. Besides increasing the deficit beyond recognition, it will almost certainly cause growth in the already bloated government, inflation, devalue of the dollar, and an expansion of the welfare dependent class.
Obama seems to be Jimmie Carter large – a very bad thing for America.
One Guy's Opinion on the Political Scene By: Jim Herndon
