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Politics : The Obama - Clinton Disaster
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To: Kenneth E. Phillipps who wrote (14475)6/30/2009 7:41:56 AM
From: JakeStraw1 Recommendation  Read Replies (2) of 103300
 
Without question, this Democratic-led Congress and White House have been the most fiscally reckless and irresponsible in our history. These captains of the Titanic know the iceberg looms in the murky distance, but instead of taking evasive action, they're screaming "full steam ahead" as the ship readies for impact.

It won't take long for us to hit the ice.

Let's see. There's $787 billion in stimulus, $700 billion in TARP spending and hundreds of billions in bailout funds for the automakers and Fannie Mae and Freddie Mac. This year alone the spending will approach $4 trillion, 117% above the $1.8 trillion spent in 2000.

This unprecedented increase will lead to expected deficits of $1.8 trillion this year and as much as $13 trillion through 2019. Over that time, the U.S. will go from having a fairly manageable debt load to one that threatens our financial stability.
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