Mar 20 2009
The Bleak Decade Ahead: A Path To Ruin Using Obamanomics
The latest CBO scoring of the Obama/DC Liberals budget forecasts is the most disturbing thing I have seen in a long time. Check out what we have to look forward to after the next 10 years of hard work:
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The cumulative deficit from 2010 to 2019 under the President’s proposals would total $9.3 trillion, compared with a cumulative deficit of $4.4 trillion projected under the current-law assumptions embodied in CBO’s baseline. Debt held by the public would rise, from 41 percent of GDP in 2008 to 57 percent in 2009 and then to 82 percent of GDP by 2019 (compared with 56 percent of GDP in that year under baseline assumptions).
Obama and the Democrats are planning to run up our national debt to over 80% of the annual GDP – making it impossible to ever pay it down. It is a plan for financial ruin and disaster, and they are proud of it.
God help this great nation
AJ does this projection include all that has been done plus the proposed budget with nationalized medical, and cap and trade?
Oh, we’ll pay it down. We’ll simply print the money to do so, and the only downside will be the fact that it will be a cold day in hell before any American gets a mortgage at less than 10% interest.
Kathie,
No, I don’t think it includes all of Cap & Trade and Health care reform since that would be in the 2010 budget coming out (unless this is the scoring for that budget). To be honest, not sure.
Even if it is in bank on two things – they underestimated the costs and overestimated the economic recovery, it will be worse than this.
We could print the money, but what would that do to the value of the currency?
This is insane. It really is.
If this doesn’t include the yet to be budget, we are in big trouble. Please someone up there STOP spending.
Almost enough to make a person hope he fails. ;~)
The CBO is far too optimistic.
It may sound like I’m being facetious. I’m not.
The big problem here is that Obama believes that the government needs to create the common good, his perception of the common good. Our nation’s constitution was created to protect the individual from the government by stating not what government could do, but what government could not do. The individual in our Nation is paramount to the collective, however the individual can be inspired to act on behalf of the larger community, not forced through government actions. If you listen to Obama, he has it backward. The community is paramount to the individual and his programs punish the individual to enhance the greater good. This is really sick stuff. If one gets caught up in the little stuff, like the payout to AIG the bigger picture is lost. We need to stand back and squint our eyes to see what is really going on here.
It is no wonder that Obama is trying to reverse everything Bush did in the last eight years. He can’t even bear to use terminology that Bush has used.
Yeah, whatever. How about that BSG finale?
So I wonder … rather than give the British Prime Minister a set of 25 DVDs that can’t be played on European players, why didn’t he just give the guy a Netflix gift card?
[…] The unsustainable deficit that TCM’s budget vision imposes on America reported on by the CBO y…Â Bottom line: It really and truly can’t ever be paid off. […]
I found it AJ……..your graph only is the deficit for 2009. New budget costs will be discussed and passed to start the new fiscal year in Sept.
[…] Obamanomics: The Bleak Decade Ahead […]
[…] anything uglier than decades of uncontrolled deficit spending ending with a national debt equal to 80% of our national GDP (assuming our GDP doesn’t crash in the […]
[…] means as he produces as much debt in 10 years as the nation has produced in its entire history, bringing our debt to 80% of our GDP (if not […]