Liberalism: Do You Agree We've Had Enough of It? Message Board

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Politics : Liberalism: Do You Agree We've Had Enough of It?

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To: MJ who wrote (65306)	5/18/2009 3:19:11 PM
From: MJ	3 Recommendations Read Replies (1) of 224722

OBAMA IS MORTGAGING OUR FUTURE according to Samuelson of the Washington Post-----good to see the Washington Post giving the people some support with opinion articles. Baby Boomers read and beware!! washingtonpost.com "Obama's Risky Debt by Robert J. Samuelson Monday, May 18, 2009 Just how much government debt does a president have to endorse before he's labeled "irresponsible"? Well, apparently much more than the massive amounts envisioned by President Obama. The final version of his 2010 budget, released last week, is a case study in political expediency and economic gambling. Let's see. From 2010 to 2019, Obama projects annual deficits totaling $7.1 trillion; that's atop the $1.8 trillion deficit for 2009. By 2019, the ratio of publicly held federal debt to gross domestic product (GDP, or the economy) would reach 70 percent, up from 41 percent in 2008. That would be the highest since 1950 (80 percent). The Congressional Budget Office, using less optimistic economic forecasts, raises these estimates. The 2010-19 deficits would total $9.3 trillion; the debt-to-GDP ratio in 2019 would be 82 percent. But wait: Even these totals may be understated. By various estimates, Obama's ---------click on link for full article" mj

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