Tuesday, May 5, 2009
Obama's Budget vs. Republicans ProposalMost have to admit the liberal Democrat budget spends too much. Under this budget the federal government's spending will equal 28.5% of the economy, the highest level since World War II. The budget contains $1.9 trillion in tax increases, including a national energy tax that will cost every household up to $3,128 and increased energy bills. The Liberal Democrat budget explodes the national debt with $9.3 trillion in deficit spending over the next 10 years. Foreign purchasers of our debt are starting to balk. The Federal Reserve is printing money to pay for these commitments. That is hardly a new era of responsibility.