This is from Tony Perkin’s “Washington Update” of the Washington Research Council.
“11,272,897,541,856 Reasons to Be Outraged”
“While President Obama tries to clamp down on credit card companies for hiking the rates on consumers, the latest figures suggest that the administration is busily raising its fees on you and me. Under today’s deficit projections, which are up $89 billion from the White House’s original estimates, the government will have to borrow almost half–46 cents–of every dollar it spends this year. As a result, the U.S. debt, which clocked in this morning at an astronomical $11,272,897,541,856.93, is expected to grow even faster than experts predicted. By the end of 2009, Americans will face a deficit that accounts for 12.9% of the GDP. And considering this administration’s aggressive agenda, this “credit card spending spree” shows no sign of stopping.
“With an unprecedented $3.6 trillion budget plan on the table, Americans are on the hook for 10-year deficits of $9.27 trillion that cannot be blamed on President Bush. While he did inherit a mountain of debt, President Obama’s appetite for government expansion is pushing taxpayers to the brink. On his watch, Congress has put taxpayers on the hook for bailing out Wall Street, spending billions in economic stimulus, and carrying a back-breaking budget.
“Earlier this month, the administration put up a facade of restraint by cutting $17 billion from next year’s budget, but to most the gesture was laughable. Even USA Today pointed out that it’s the equivalent of cutting a $100 grocery bill by returning a 50-cent pack of gum. Despite the deficit, President Obama is putting his foot on the accelerator of a massive health care overhaul. The spending and proposed spending are beyond irresponsible; they’re endangering our economy and mortgaging our future in exchange for political porridge.”
I hope you took some time to look at the financial figures above. This is scary stuff for our nation. So I wonder: Where is the howl and cry of the media over these extravagances and extremes? President Bush was villified for far, far less…interesting. So go ponder…