Remember when the Democrats complained about $450 billion deficits in a wartime, post-911 budget? Try quadrupling that and you will have the deficit of the first Obama-Pelosi-Reid budget. This avalanche of red ink is just the beginning. Expect more and greater deficits in the future.
The budget that Barack Obama will submit to Congress has a projected $1.75 trillion deficit. When Obama made his grandiose promise to half the budget deficit by the end of his term, he was talking about a deficit in the $2 trillion dollar range. Even with his rosy predictions and under the best of circumstances, we will still be looking at a $800 billion to $1 trillion deficit in four years.
Obama's budget projections, like those of all Presidents, assume the best of all circumstances will occur. That never happens so that projections never pan out. A prime example of that is the money allocated for universal health care. Obama's 2010 budget sets aside $634 billion as a down payment for universal health care. This sum is alleged by Obama to be two-thirds of the 10 year price tag for a universal health care package that they say will cost $1 trillion. If any of you actually expect Obama's socialized medical coverage to cost only $1 trillion over 10 years, I have some prime swampland in Louisiana I'd like to sell you.
We are in serious trouble as a nation. When a nation casts aside fiscal sanity for the sake of ideological or political gain, we are heading down the road to third-world financial status. Certainly, Republicans, as well as Democrats, have contributed to this mess. The Presidency of George W. Bush, while commendable in many ways (and certainly patriotic), was not a time of fiscal conservatism. Because of that, Repubicans must regain their credibility to speak on fiscal matters. They can begin doing that by standing shoulder-to-shoulder in opposition to the Obama Democrat's attempt to turn American into a European socialist state.
Let's hope that someone in Washington will exercise some fiscal responsibility...and sanity.
--Submitted by B. Bryant