Once again, Obama slammed over and over the Bush deficits, but the Bush deficits pale in comparison to Obama’s. When Obama says he is going to cut the deficit in half, there is nothing impressive about that.
Last 3 posts by Taylor
- Obama's Second Act - Very Very Scary - July 16th, 2010
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Obama and his crowd are attempting to pull off the biggest power grab since the great depression, and it this continues this recession will turn into another depression and it may take another full-blown war to pull us out.
Hopefully that war is another revolutionary war here in America. A revolution for smaller governments and fewer entitlement programs. Ron Paul will be the commander of the armies.
This makes me so mad. When he says hes going to cut the deficit in half, that is still more than it ever was under Bush. What a load of crap.
I wish there would be more media attention to the other half of the graph: the CBO Estimate. The key to Obama’s forecast is the assertion that the economy will be on its way to recovery by the end of the 3rd qtr ‘08. If it takes longer (and I think most economists assume it will), the projected deficits will be even larger.
Additionally, besides the initial $638M “down payment” for the health care overhaul, Obama’s budget forecast assumes that “future costs savings” will offset any increase in permanent health care spending. I think this is an optimistic dream to try and sell the plan.
Point is, I think that until the full extent of the recession is known, the CBO projections are much more likely to be accurate. Either way, I’m paying for it.
I also find it absurd that he knows the budget will never be balanced. He appears to be completely content indefinitely running up the deficit. Even the White House numbers show the deficit getting increasingly larger as time goes on.