Deficit Spending – You should be scared, Part II

December 14, 2009 by  
Filed under Uncategorized

The current Omnibus bill  going to the Presidents desk for his signature can only be called irresponsible.

Congress should be ashamed at this point in our economy of growing government more than 14%, adding more than 500 billion in new spending, and more than 5000 pork barrel projects.  This year $.42 of every dollar is borrowed,  next year it goes even higher.  I’ve updated the previous graph with the effects of this bill projected for the next 5 years.  By 2014, we will be spending $2.5 Trillion dollars more than the government receives in tax receipts, all of it borrowed.

As a country we are BROKE!

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Mike Sabot

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