ObamaCare: Burying The Country In Debt
By Wyatt Earp | June 19, 2009
The Ever-Expanding Obama Deficit
Let’s see, the Porkulus Bills, the newly approved “Cash for Clunkers” Program, and now ObamaCare – a program that must be defeated. The health care system in this country is not so bad that we need to “reshape” it to the tune of more than a trillion dollars!!!
I guess my only question for the president is this: Will there ever be a time when you say to yourself, “That’s enough spending for one year?”
Obama will quadruple the US budget deficit his first year in office. And, he wants to borrow more on a new entitlement program. According to the AP:
President Barack Obama on Tuesday proposed budget rules that would allow Congress to borrow tens of billions of dollars and put the nation deeper in debt to jump-start the administration’s emerging health care overhaul.
The “pay-as-you-go” budget formula plan is significantly weaker than a proposal Obama issued with little fanfare last month.
It would carve out about $2.5 trillion worth of exemptions for Obama’s priorities over the next decade. His health care reform plan also would get a green light to run big deficits in its early years. But over a decade, Congress would have to come up with money to cover those early year deficits…
In case you weren’t paying attention, that’s TRILLION, with a “T.” Who is going to pay for all of this nonsense?
The federal deficit is on pace to explode past $1.8 trillion this year, more than four times last year’s all-time high. The record borrowing is credited with pushing up interest rates, which could imperil chances for a recovery later in the year. (H/T – Gateway Pundit)
Oh, and here’s a simple illustration showing how Obama’s fiscal irresponsibility has affected unemployment numbers:
And yet, he wants to spend even more. The man is insane.
Topics: Politics | 6 Comments »
June 19th, 2009 at 8:04 am
We’ve got to do something quickly or we won’t even be able to afford to a rebellion.
June 19th, 2009 at 10:00 am
The health care plan has got to go.
“In case you weren’t paying attention, that’s TRILLION, with a “T.” Who is going to pay for all of this nonsense? ”
The same people who paid for the Iraq Trillion….us.
June 19th, 2009 at 1:38 pm
I can no longer get upset with anything the “great leader” does to/with our country. My head is wrapped so tight in duct tape I can’t see or hear. Not to mention breathe, most days. Will someone just shoot me now? Every time I try and watch the news, it is filled with some new plan the great O has up his sleeve. By the time he is done we won’t even have a country left. And it is getting much too painful to watch our nation get tanked by an egomaniac who has absofluckinglutely NO idea how to run it.
June 19th, 2009 at 1:46 pm
The likely future debt level is probably going to be far worse than the CBO report says. Consider this recent report from the FDIC: http://www.fdic.gov/regulations/examinations/supervisory/insights/sisum09/si_sum09.pdf. It summarizes all the federal support for the financial institutions in 2008 and early in 2009. The total gross support (and I do mean gross) in 2008 was $6.78 TRILLION. This is outside of the normal federal budget process so is not included in the CBO chart. Note that this was in ’08, so obviously this was not Obama, this was under Bush and Paulson. But it gets even worse. In just the first quarter of ’09, the Obama Administration has extended support through programs that could total $13.9 TRILLION. It’s important to note that the FDIC says the government may not HAVE to spend that $14 trillion, but its got the green light to do so if it feels its warranted. The entire GDP of the United States is around $14 trillion (and going down due to the recession), so to consider future debt levels of this magnitude is really frightening.
June 19th, 2009 at 9:03 pm
You liberal gun haters wanted a Riech-Furher for president…….well, you got him. I hope you got enough beans and rice buried to last you for ten years. ( If his kind lets America last that long)
June 20th, 2009 at 12:00 am
Hold on to the duct tape EL. The G20 confab is in Pittsburgh–we specialize in clinging to guns and bibles, and Murtha even said we’re all rednecks. So,we’re covered.
The Dems big “We are the World” show is not going to go at all as planned.
Between the Eurotard rent-a-mobs that goes to all these things and the real Americans from the land of the Whiskey Rebellion–they are going to get a real lesson in how fucked -up people think they are.