As The Budget Continues To Grow And The Debt Continues It's Explosion
How refreshing it is to see our President working hard on addressing the national debt, the ballooning annual deficits, and freezing spending. All at the same time he is handing out billions more in "essential spending" (my words). The President is to propose a 3.8 trillion dollar FY 2011 budget and at the same time projects the deficit will increase to a record high of 1.6 trillion dollars. However, not to worry as by 2013 the red ink will be stemmed the deficit will only be 700 billion dollars, or 4 percent of gross domestic product (GDP). But just one minute, it is only to begin rising again in 2018. And just when I thought the architect of Obamanomics was maybe on to something. The plan sounds to me like more gimmicks and lies. With 106 trillion dollar in unfunded liabilities, a 12 trillion plus dollar national debt, and continuing deficits for as far as the mind can grasp, this sound like insur...