Monday, March 23, 2009

Are these the same people who used to "preach" about Bush's deficits?

Guess what?

Pres Obama and the Dems will take our deficits to historic levels.

Better put, dangerous levels.

Here are some scary numbers and it's not Halloween:

"This year's deficit will hit 13.1% of GDP and next year's will still be at 9.6%, assuming a healthy recovery, and then never get below 4.1% for the entire decade." (WSJ)

Just for comparison: It never got over 4% under Bush! (Check it out: Greg Mankiw is a professor of economics at Harvard University. His new post analyzes the federal budget deficits: Budget Deficit as a Percent of GDP )

What about the national debt? Again, it's scary and I'm not talking about a movie:

"The share of debt held by the public will double -- to 82.4% in 2019 from 40.8% in 2008"

So what about all of you who voted for change?

You voted for deficits! Scary deficits!

What about the "we inherited a deficit" story?

Since assuming the presidency, Pres BO has added $ 800 billion, or the stimulus that no one read. (It included the AIG bonuses)

This is looking more and more like BO's scary movie! I just hope that southern Democrats, in the House and Senate, stop it before it's too late!


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