Monday, March 16, 2009

Fiscal irresponsibility

"Government spending on most domestic programs is growing at its fastest pace in nearly 30 years . . . Obama's budget calls for $3.6 trillion spending in fiscal 2010 . . . Obama's budget projects that by 2019, debt held by the public will reach $15.3 trillion, roughly double the current level . . . Future predicted annual deficits will be even bigger than the $1.7 trillion fiscal 2009 deficit figure Obama has been using . . . The deficit is expected to reach 12.3 percent of GDP this year . . . Non-defense discretionary spending, which includes most domestic programs, is up about 16 percent from last year. Under Obama's budget, it would go up another 14 percent next year."

http://www.mcclatchydc.com/227/story/64003.html

Does anyone not think this will cause economic and political trouble down the road?

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