The bald fact is that the US government is going to have to borrow–or print–half of the money it intends to spend in Obama’s first budget. This fact has fallen through the cracks as New York Times headlines proclaim “A Bold Plan Sweeps Away Reagan Ideas.” It certainly does sweep away Reagan ideas. No Reagan budget ever presumed that the federal government could borrow half of its annual expenditures. Indeed, Obama’s budget deficit for 2010 alone exceeds the totality of “Reagan Deficits” for Reagan’s two terms of office.
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Hello. Great job. I did not anticipate this. This is a great story. Thanks!
Obama is going to spend more money than anyone else on the planet ever has before!
Like I’ve said all along, they are trying to create money out of thin air, and that will only damn the U.S. economy further….take the lumps now, or delay it all and run the economy further into the ground, and I will guarantee it will be that much more difficult to correct later….