“Every government interference in the economy consists of giving an unearned benefit, extorted by force, to some men at the expense of others.”
More tax and spend gouging from the narcissistic malfeasant occupying the White House:
Barack Obama will forecast a 2009 deficit of $1.75 trillion in a budget proposal on Thursday that sets goals of overhauling the healthcare system and shoring up the U.S. economy.
The huge deficit would represent 12.3 percent of U.S. gross domestic product — the largest share since World War II.
Two senior administration officials, speaking on condition of anonymity ahead of the release of the 2010 budget at 11 a.m. EST, said Obama’s expensive policy goals would be offset by cuts to put the country in better fiscal shape.
Federal spending is skyrocketing as officials try to jolt the faltering economy with public-works spending and tax cuts and bail out the troubled financial industry.
Obama, a Democrat, has pledged to halve the more-than $1 trillion deficit he inherited from former Republican President George W. Bush in four years. The budget lays out spending cuts in agriculture subsidies and other areas to meet that goal.
But spending would increase to meet key objectives. The budget sets aside $250 billion as a “placeholder” if Obama decides to ask Congress for more money to help the troubled U.S. financial system. No such decision has been made yet, officials said.
It also includes a 10-year, $634-billion reserve fund to help pay for the president’s proposed healthcare reforms.
Only a $1.75 trillion deficit? Sheeeeit. The way he’s going it’ll be 5 times that amount.
This asshole and his DemRat comrades are hurling this country toward a socialist-created depression. What’s he going to do when the dollar’s worth becomes equal to toilet paper, and there’s no more money to give to the welfare class?
More from the Congressional Budget Office:
“The Congressional Budget Office on Friday said that, if the Obama budget unveiled last month were approved, the federal government would run deficits averaging nearly $1 trillion a year over the next decade. The cumulative deficit from 2010-19 would be $9.3 trillion, according to the report — $2.3 trillion more than the administration forecast last month.”
People, there’s going to be a new revolution in this country, and it will start with pissed off had-it-up-to-here taxpayers.
2 thoughts on “‘THE ONE’ Forecasts Astronomical Deficit”
Thanks, and don’t be a stranger!
Hello Sgt. McElroy. Long time no see, but it is always great to see you in action.