Thursday, March 26, 2009

Obama on the "Wrong Track?"

Anyone that's been reading here for a while knows how much I hate the "Is this country headed in the wrong direction" polls --this is a question that requires the "Why?" followup before it can be used as political ammunition as far as I'm concerned...

Every week during Bush's time in office we had to hear how many people thought the country was headed in the wrong direction, but I had to search this morning to discover that 55% of Americans think that this country is headed in the wrong direction...

We KNOW why people think this now...let's look at Obama's economy using a great new tool for Conservatives:

"During his presidential campaign, President Barack Obama promised the American people a "net spending cut."1 Instead, he signed a "stimulus" bill that spends $800 billion, and he has proposed a budget that would:

* Increase spending by $1 trillion over the next decade;
* Include an additional $250 billion placeholder for another financial bailout;
* Likely lead to a 12 percent increase in discretion­ary spending;
* Permanently expand the federal government by nearly 3 percent of gross domestic product (GDP) over pre-recession levels;
* Raise taxes on all Americans by $1.4 trillion over the next decade;
* Raise taxes for 3.2 million taxpayers by an average of $300,000 over the next decade;
* Call for a pay-as-you-go (PAYGO) law despite offering a budget that would violate it by $3.4 trillion;
* Assume a rosy economic scenario that few econo­mists anticipate;
* Leave permanent deficits averaging $600 billion even after the economy recovers; and
* Double the publicly held national debt to over $15 trillion ($12.5 trillion after inflation).2

Before the recession, federal spending totaled $24,000 per U.S. household. President Obama would hike it to $32,000 per household by 2019— an inflation-adjusted $8,000-per-household expan­sion of government. Even the steep tax increases planned for all taxpayers would not finance all of this spending: The President's budget would add trillions of dollars in new debt.[1][2]

Yet, the President's budget may even understate future spending and deficits..." (Read More)

If you "don't trust" the scholars at the heritage Foundation, you could always reference MSM's AP article entitled FACT CHECK: Obama having it both ways on economy?

I don't want to be all alarmist like those on the Left have been for the past eight years, but I really am scared. A "war for oil" can't collapse America as we know it...but this socialist, money printing "stimulus" can...

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