Saturday, August 14, 2010
Friday, August 13, 2010
Thursday, August 12, 2010
Wednesday, August 11, 2010
Obama Takes Illinois Mistakes Nationwide
"Unsustainable" is a scary word that recently entered political discourse, coming authoritatively from Congressional Budget Office (CBO) Director Douglas Elmendorf. Unsustainability is the operative moniker for Barack Obama's massive deficit spending, which Elmendorf said "cannot be solved through minor tinkering."
The CBO predicts an increase in our public debt from $7.5 trillion at the end of 2009 to $20.3 trillion at the end of 2020 if Obama's fiscal 2011 budget is implemented. As a percentage of gross domestic product, the debt will rise from 53 percent to 90 percent. Senator Kent Conrad (D-ND) sharpened the focus by asking the CBO Director: "What's going to be necessary [is] either a 25 percent increase in taxes or a 20 percent reduction in spending, or some combination thereof. Is that correct?" Elmendorf replied "yes."
Americans are beginning to wonder if Greece is the picture of America's future. But we need look no further than the place where Obama and his team were trained in community organizing and bully tactics to redistribute the wealth: Illinois.
Read Article
The CBO predicts an increase in our public debt from $7.5 trillion at the end of 2009 to $20.3 trillion at the end of 2020 if Obama's fiscal 2011 budget is implemented. As a percentage of gross domestic product, the debt will rise from 53 percent to 90 percent. Senator Kent Conrad (D-ND) sharpened the focus by asking the CBO Director: "What's going to be necessary [is] either a 25 percent increase in taxes or a 20 percent reduction in spending, or some combination thereof. Is that correct?" Elmendorf replied "yes."
Americans are beginning to wonder if Greece is the picture of America's future. But we need look no further than the place where Obama and his team were trained in community organizing and bully tactics to redistribute the wealth: Illinois.
Read Article
Subscribe to:
Posts (Atom)
