Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Alighieri who wrote (501988)	8/6/2009 1:52:23 PM
From: jlallen	Respond to of 1575832

Obama’s $1 Trillion Birthday Present * Posted August 5th, 2009 at 4.30pm in Ongoing Priorities. President Obama celebrated his 48th birthday yesterday, but instead of being showered with gifts, he handed the American people the biggest present of all: one trillion dollars in new debt. Since Obama was inaugurated in January, the national debt has grown over one trillion dollars to a whopping $11.669 trillion. In contrast, it took 2.5 years to add $1 trillion in debt during the last administration. And this “gift” to the American people doesn’t even include the costs of other legislation Obama would like to pass, such as cap and trade or health care reform. Over the next decade, the President’s current budget plan (which is to be updated within the next two weeks), would cause the debt to reach 80% of the economy—a level not seen since WWII. Although federal spending under the former administration was not exactly prudent, an interesting video helps demonstrate that if the rate of each President’s spending were converted to miles-per-hour, George W. Bush would have been driving at 63 mph, whereas Obama is driving at 174 mph. With spending at this rate, we are well poised for a dangerous high-speed economic wreck. Instead of doling out birthday cake slices of debt, Congress and the President should focus on reforming the way government spends taxpayers’ money through fiscal restraint—especially for the benefit of future generations, who will be forced to pay for this over-the-top birthday present, plus interest. blog.heritage.org