Let The Spending Begin!

(http://mikesamerica NULL.blogspot NULL.com/2009/02/obama NULL.html)

Graph by MikesAmerica

According to President Obama’s 2010 budget blueprint (http://online NULL.wsj NULL.com/public/resources/documents/budgetblueprint02262009 NULL.pdf), the Federal Deficit for the 2009 fiscal year will increase to $1.75 TRILLION! Written out, that’s $1,750,000,000,000. 175 with TEN ZEROES behind it!

A quick look at the graph will show that during the Bush administration, deficits had increased in the war time years directly after the 9/11 attacks, but steadily decreased during 2005, 2006, and 2007. In  fiscal 2008, however, the first fiscal year to begin after the Democrats took over both houses of congress in 2007, you can see a marked increase in deficit spending. In fact, 2008 was the largest deficit in U.S. history. This year’s deficit projection of $1.75 Trillion is more than double that!

To put that in perspective, with that money the federal government could purchase 9,716,824 homes at the median home value (http://money NULL.cnn NULL.com/2009/02/12/real_estate/Latest_median_prices/) level from the fourth quarter of 2008. Since home values are dropping fast, it is safe to project that by the end of this year, our deficit spending could buy 10 MILLION homes!

Another way of looking at it is that the deficit could pay the annual wages (http://www NULL.census NULL.gov/Press-Release/www/releases/archives/income_wealth/012528 NULL.html) of 34,836,657 Americans! Now say that to yourself out loud — the annual wages of thirty-four million, eight hundred and thirty-six thousand, six hundred and fifty-seven Americans! That is almost a quarter of the American workforce!

The spending bills that are coming out of Congress like ticker tape amount to a threat to the security and stability of the United States of America the likes of which we have never seen. Now we have a president who not only won’t try to curb congress’s outrageous spending, we now have a president who won’t miss an opportunity to add to it.

On January 23, 1996, President Bill Clinton announced to our country, “The era of big government is over.” With Obama’s budget blueprint,  that he calls, “A New Era of Responsibility”, what he is actually saying is, “The era of big government is back!”

Related posts:

1. Not In My Country “Yesterday, the devil [President Bush] came here. Right here. Right here. And it smells of sulfur still today, this table...
2. The USA Team and Michael Phelps Celebrate Gold (L-R) Hansen, Phelps, Peirsol and Lezak hold the American flag (Photo credit: Al Bello/Getty Images) With the help of his...