Wednesday, April 15, 2009

Projected deficit unsustainable and deplorable

"Auditors for the Congressional Budget Office (CBO) have stated repeatedly that Mr. Obama's steroidal spending levels and sky groping deficits are unsustainable. On March 20, an AP story reported that the Obama budget would produce $9.3 trillion in deficit spending in ten years. While history shows that most government spending sprees and programs quickly surpass their budget projections, the CBO has thrown down a gauntlet in stating that the Obama budget is 'unsustainable.'

"Meanwhile, Obama has left more than 140 thousand troops in Iraq where their death toll has began to rise under his clouded mission there, while ordering a surge in Afghan American troop levels as much of Europe and Canada retreats. Already he has requested billions more in extra spending to pay for his Afghan surge. Many Americans are no less than shocked by these reversals from what he said he would do during his campaign and what he is doing as President.

"According to the CBO, whose purpose is to analyse such national budgets, the dismal figures regarding Barack Obama's budget means that Obama's deficit spending will be four times larger than those of the Bush Presidency. A growing number of Americans are experiencing buyer's remorse over the Obama Administration and those who did not vote for him are becoming even more outspoken. While the Obama Administration has simply blamed the former administration to date for everything wrong from economics to agriculture, more Americans are viewing the unsustainable debt that Obama and the Democratic Party are incurring on behalf of the next generation as a horrific burden that is being kicked down the road to their children."