Thursday, January 14, 2010

Ramping Up The Red Ink Production

Gateway Pundit:
...the red ink of the first three months of fiscal year 2010 beginning from October 2009 is 16.8 percent higher than the same period of the fiscal year 2009 when it hit a record 1.42 trillion dollars.

Considering these numbers it is likely that after tripling the US national deficit from the previous year in 2009, Barack Obama is on track to nearly quadruple the national deficit from 2008 when George W. Bush left office.

The Obama Disaster–

Here’s a look at the US federal budget deficit:

US Federal Budget Deficit
Year Deficit
1996 -107
1997 -22
1998 69
1999 125
2000 236
2001 128
2002 -157
2003 -377
2004 -412
2005 -318
2006 -248
2007 -160
2008 -454
2009 -1,415
2010 -1,652 (estimated)

Doug Ross has more numbers and predicts a budget deficit of $1.55 trillion this year.

This is, quite simply, unsustainable. The deficit was bad enough before Obama, but now things have gotten so ridiculously out of hand that even the Democrats are getting nervous about it. It is likely that Obama will decry the evils of deficit spending in the State of the Union speech later this month -- probably blaming Bush and whining that he 'inherited' such a state -- while completely refusing to own up to the fact that it is his policies which have injected steroids into the veins of the deficit.

Our duty is to make sure that he is held accountable for his actions, especially as we talk to people around us in preparation for the 2010 elections.

There's my two cents.

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