Crush Liberalism

Liberalism: Why think when you can “feel”?

Our debt now equals our total economy

Why, it’s as if our president and his party are a bunch of economic illiterates or something!  Details:

President Obama projects that the gross federal debt will top $15 trillion this year, officially equalling the size of the entire U.S. economy, and will jump to nearly $21 trillion in five years’ time.

Amid the other staggering numbers in the budget Mr. Obama sent to Congress on Monday, the debt stands out — both because Congress will need to vote to raise the debt limit later this year, and because the numbers are so large.

Mr. Obama‘s budget said 2011 will see the biggest one-year jump in debt in history, or nearly $2 trillion in a single year. And the administration says it will reach $15.476 trillion by Sept. 30, the end of the fiscal year, to reach 102.6 percent of gross domestic product (GDP) — the first time since World War II that dubious figure has been reached.

I blame Bush.  Or something.

How does our man-child president propose to grow the economy to handle the debt?  What do you think?

President Barack Obama’s budget proposal resurrects a series of tax increases on certain corporations and the wealthy that were largely ignored by Congress when Democrats controlled both chambers. Republicans, who now control the House, are signaling they will be even less receptive.

In all, the budget proposal would impose about $730 billion in new taxes on businesses and wealthy individuals over the next decade, while cutting about $400 billion in taxes on middle-income families, the working poor and other businesses, for a net tax increase of about $330 billion.

House Majority Leader Eric Cantor, R-Va., called Obama’s proposal a missed opportunity to address the nation’s fiscal problems.

“We need a government that finally does what every other American has to do in their households and their businesses, and that’s to live within our means,” Cantor said in a statement. “Instead, President Obama’s budget doubles down on the bad habits of the past four years by calling for more taxes, spending and borrowing of money that we simply do not have.”

He couldn’t get a Congress dominated by his own party to pass through tax hikes, so he figures that a GOP-controlled House will?  Friggin’ brilliant, Oba-Mao.  Good luck with that.

Anyone remember the last time a country taxed itself into prosperity?  Me neither.

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February 14, 2011 - Posted by | big government, economic ignorance, Obama, socialism, taxes

3 Comments »

  1. Webster needs a new, stronger word for STUPID…cuz it falls so short when talking about this liberal stooge

    Comment by Kevin | February 15, 2011

  2. I saw Rep Xavier Becerra (Idiot-CA) this morning talk about these new taxes on business and wealthy individuals. As he put it, besides “the fact” that business & the wealthy “need to pay more in taxes”, this tax proposal would not affect middle or low income families. I suppose what Xavier is referring to is the secret compact between Obama and business. You know the one? The one where Obama made those companies promise not to pass along the costs of doing business?

    This IS clearly Bush’s fault. Or, Palin’s.

    Comment by Greg | February 15, 2011

  3. Didn’t Nobama just say that he was going to cut business taxes because we were the highest business tax country in the world? That didn’t last long.

    Comment by tnjack | February 18, 2011


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