President Barack Obama has repeatedly claimed that his budget would cut the deficit by half by the end of his term. But as Heritage analyst Brian Riedl has pointed out, given that
Obama has already helped quadruple the deficit with his stimulus package, pledging to halve it by 2013 is hardly ambitious. The Washington Post has a great graphic which helps put President Obama’s budget deficits in context of President Bush’s.
What’s driving Obama’s unprecedented massive deficits? Spending. Riedl details:
-President Bush expanded the federal budget by a historic $700 billion through 2008.
President Obama would add another $1 trillion.-President Bush began a string of expensive financial bailouts.
President Obama is accelerating that course.President Bush created a Medicare drug entitlement that will cost an estimated $800 billion in its first decade. P
resident Obama has proposed a $634 billion down payment on a new government health care fund.President Bush increased federal education spending 58 percent faster than inflation.
President Obama would double it.President Bush became the first President to spend 3 percent of GDP on federal antipoverty programs.
President Obama has already in creased this spending by 20 percent.President Bush tilted the income tax burden more toward upper-income taxpayers. President Obama would continue that trend.
President Bush presided over a $2.5 trillion increase in the public debt through 2008. Setting aside 2009 (for which Presidents Bush and Obama share responsibility for an additional $2.6 trillion in public debt),
President Obama’s budget would add $4.9 trillion in public debt from the beginning of 2010 through 2016.
And this is just the half of it.
Obama, through cap & trade, is attempting to deliver the final death blow to America. The purpose of cap & trade is a transfer a wealth, from those who worked for it (working Americans) to those who didn't. Obama's loyalities with Europe, not the US. Then there's national "health care", which is not health care but a eugenics plan. My mother, who is in her 80s, had state of the art cardiac surgery which saved her life. In Canada or Britian, she would not have gotten it becaue the NHS considers expensive, life saving measures for the elderly a waste of money.
Americans better wake up and realize their strengths and the good society they have built, because the plan is to take away from them !
