Monday, May 11, 2009

Obama's first budget QUADRUPLES deficit

The White House is now projecting a budget deficit of over $1.8 trillion for the current fiscal year.  According to Andrew Taylor of the Associated Press (link to story here), that's "about four times the record set just last year."

Not coming close to living within its means, the federal government is borrowing 46% of the budget, put another way, Washington only has 54 cents for every dollar that it is spending this year.  46 cents of every dollar is borrowed.

Don't you all wish you could live like that?

Responsibility is fast becoming a necessity.  But the folks left in charge of our country's checkbook don't seem to understand that.  New spending must be stopped and old spending must be cut.  Radical action is needed to prevent national bankruptcy.

If the Democrats running the show don't act now (and who would expect them to), we must act in 2010 and throw them all out on their ears.  If we don't . . . we might as well throw in the towel.

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