Common sense dictates that you don’t spend what you don’t have on what you don’t need. It also dictates you don’t borrow money you can’t pay back.
Alas, these two nuggets of wisdom are obviously lost on Barack Obama who has decided that it makes sense to spend close to double what we currently bring in, all in the name of forcing Socialism on the nation through the back door.
Don’t get me wrong, I understand that in some situations, a budget deficit is a necessary evil, i.e time of war. But to have a deficit of this size just to put in place programs which we don’t need is negligent to say the least.
Ultimately, how this makes us different from all those people who took on more debt than they could afford, and are now in a financial quagmire is beyond me, but I am not disconnected from reality like Obama is…
This is change, whether you believe in it or not. And not just pocket change.Following through on many of his campaign promises, President Obama wants to spend about $3.6 trillion next year to pull the nation out of recession and begin major new initiatives in health care, energy and education.
All that and more is contained in a 134-page budget request for 2010 and beyond that is unprecedented in size, breathtaking in scope and sure to have a major impact on millions of Americans — if he can get much of it through Congress.
It’s a budget plan that would help the young by increasing their chances of getting a college education and the poor by providing funds for health insurance. It seeks to clean the air and reduce the USA’s dependence on foreign oil. It would cut taxes on low- and middle-income Americans while raising them, starting in 2011, on couples who make at least $250,000 a year.
All this would come at a price to be paid by in the future: annual deficits of at least $500 billion, and a federal debt that would reach $23 trillion in a decade.
