While Democrats continue to fiddle with ramming ObamaCare through Congress, another 36,000 Americans lost their jobs last month and unemployment remains at 9.7%. Worse, if the fiscal insanity of the Obama Administration and Capitol Hill Democrats continues, it’s unlikely there will be much of any recovery anytime soon.
Fiscal insanity? Yes. Consider:
Obama Administration Running $655 Billion Deficit Through First Five Months Of Current Fiscal Year. “The U.S. federal government’s budget deficit reached $655 billion through the first five months of fiscal 2010, the non-partisan Congressional Budget Office said Thursday.” (Patrick Yoest, “CBO: $655B US Budget Deficit For First 5 Months Of Fiscal 2010,” The Wall Street Journal, 3/4/10)
$65 Billion More Than Same Time Last Year. “This was up from last year’s $590 billion at the end of the same period of fiscal 2009, the CBO said.” (Patrick Yoest, “CBO: $655B US Budget Deficit For First 5 Months Of Fiscal 2010,” The Wall Street Journal, 3/4/10)
• “. . . an 11 percent increase over the deficit five months into 2009.” (Walter Alarkon, “Deficit On Pace To Surpass Last Year’s $1.4 Trillion Record,” The Hill, 3/5/10)
“The Obama Administration Has Forecast A Deficit Of $1.56 Trillion This Year. . .” (Walter Alarkon, “Deficit On Pace To Surpass Last Year’s $1.4 Trillion Record,” The Hill, 3/5/10)
• “That deficit would be equivalent to nearly 11 percent of the country's economy, the highest level since the post-World War II era.” (Walter Alarkon, “Deficit On Pace To Surpass Last Year’s $1.4 Trillion Record,” The Hill, 3/5/10)
Oh, the red-ink problem gets worse, yes indeed, much worse:
Obama’s Current Budget Proposal Would Add At Least Another $1.2 Trillion More In Deficit Spending Than “Advertised.” “President Barack Obama’s budget proposal would generate bigger deficits than advertised each year for the next decade, with the 10-year shortfall totaling $1.2 trillion more than the administration estimated, according to the Congressional Budget Office.” (Brian Faler, “Obama Budget Underestimates Deficit Over 10 Years, CBO Says,” Bloomberg, 3/5/10)
More Than $20 Trillion In Debt By 2020. “By 2020,he federal debt would grow to $20.3 trillion under Obama’s budget, according to CBO.” (Brian Faler, “Obama Budget Underestimates Deficit Over 10 Years, CBO Says,” Bloomberg, 3/5/10)
“. . . Debt Held By The Public Would Amount To 90 Percent Of The Nation’s Gross Domestic Product By 2020, The CBO Said.” (Brian Faler, “Obama Budget Underestimates Deficit Over 10 Years, CBO Says,” Bloomberg, 3/5/10)
Yeah, by all means, please spend another couple of trillion dollars we don’t have to fulfill the liberal-left’s dream of socialized health care.
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