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."

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

No comments: