Monday, March 23, 2009

"Obama's budget could double deficit in 10 years"

"The Congressional Budget Office said that the president's budget plan would add $1 trillion to the country's debt every year for the next decade."

Down the road, this debt must be paid - - with tax increases, with spending cuts or by relying on inflation to shrink the real dollar value of the government's debt.

Obama's core constituents have neither personal savings nor the savings ethic. Further, his core supporters include in large measure civil servants with government pensions. Expect Obama to rely on inflation.

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