Monday, March 30, 2009

Obama's budget makes a bad situation worse.

From Weeklystandard.com

It was pretty much inevitable that government would pick up the pieces of the financial crisis and its aftermath. A stimulus bill and some form of bank bailout were going to be facts of life. And tax revenues are plunging thanks to the recession. So the federal government's balance sheet was always going to deteriorate in 2009. The problem is that Obama's policies would move us from deterioration to disaster. The national debt Obama gripes about? His budget will double it to 80 percent of GDP in 2019. Whatever that is, it's not "a new era of responsibility."

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