3.28.2009

Obama Doubles Down on National Debt

President Obama continues to claim that his budget would cut the deficit by half by the end of his term. But as Heritage analyst Brian Riedl has pointed out, given that Obama has already helped quadruple the deficit with his stimulus package, pledging to halve it by 2013 is hardly ambitious.

Now Heritage has done us all the favor of putting Obama's doubling of the national debt in picture form.
Doubling the National debt sounds like a daunting task, but in this backgrounder, Heritage Analyst Brian Riedl details how Obama can accomplish the seemingly impossible feat.

Overall, the President's budget represents a sharp break from the policies that created the most prosperous 25-year period in American economic history. Instead, it puts politicians in charge of an increasing portion of the economy.
As such lawmakers should reject this budget and instead reduce tax rates for families and entrepreneurs, restrain runaway government, and reform unaffordable entitlements.

Closing Thought: If the graph isn't bad enough, take a look at the US National Debt Clock in real time.

1 comments:

Elizabeth said...

The National Debt clock stresses me out!

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