11 / May
11 / May
Obama's Initial Deficit as Large as Clinton's Last Budget

The White House increased its estimate of the budget deficit from $1.75 trillion to $1.84 trillion. To put this in perspective, deficit spending represents about half of the federal government outlays this year. It is about double the deficit that George W. Bush bequeathed to the nation. "And we are now looking at a deficit of well over half a trillion dollars," Obama complained during one of the presidential debates. "So one of the things that I think we have to recognize is pursuing the same kinds of policies that we pursued over the last eight years is not going to bring down the deficit. And, frankly, Sen. McCain voted for four out of five of President Bush's budgets. We've got to take this in a new direction, that's what I propose as president." Rather than take America in a new direction, Obama has instead taken us further down the path of irresponsibility he so rightly decried as a candidate.

posted at 10:22 AM
Comments

Uh, and this surprises who?

Posted by: asdf on May 11, 2009 11:54 AM

Does it ever dawn on these morons that you can't spend your way to prosperity? Or do they consider the impact on the economy when a cup of coffee costs eight bucks?

Posted by: asdf on May 11, 2009 12:39 PM
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