ObamaSpendoNomics

Sunday, October 18, 2009
Posted in category Economics

Record-setting madness for September.

What is $1.42 trillion? It’s more than the total national debt for the first 200 years of the Republic, more than the entire economy of India, almost as much as Canada’s, and more than $4,700 for every man, woman and child in the United States.

It’s the federal budget deficit for 2009, more than three times the most red ink ever amassed in a single year.

And, some economists warn, unless the government makes hard decisions to cut spending or raise taxes, it could be the seeds of another economic crisis.

…The Congressional Budget Office projects that the nation’s debt held by investors both at home and abroad will increase by $9.1 trillion over the next decade, pushing the total to $17.1 trillion decade under Obama’s spending plans.

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2 Responses to ObamaSpendoNomics

  1. cousin lucky says:

    October 18th, 2009 at 8:40 pm

    They Print It Up; Then They Spend It Like Someone With An Unlimited Stolen Credit Card!!
    Only Us Peons Have To Pay Our Bills; Or Am I Just An Honest American Chump?
    A Few Years Ago A Staten Island Ferry Ran Into The Dock Killing And Injuring Many People. Wall Street Bankers And Our Clown Politicians Are Driving The U.S.A. Over A Cliff That This Country May Never Survive.

    No Truth, No Integrity, And Apparently No Consequences For Them!!
    Chaos, Mayhem, And Anarchy For The Rest Of Us!!
    You Betcha!!

  2. Shannon says:

    October 18th, 2009 at 9:42 pm

    Oh don’t forget the One, wanting to give all on social security a $250 stimulus payment because there is no cost of living adjustment set for 2010. Tell me, what will one do with $250? Buy an ounce of gold, purchase firearms and ammo? Give me a break! Of course we aren’t told where this money will come from. I have a hunch that another stimulus plan is in the works. When it comes to pass, it will inadvertently be the straw that breaks the camel’s back.

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