Eagle Forum Legislative Alerts

Friday, July 15, 2011

The Biggest Spending Ever!

Only ten years ago, at the start of this 21st century, the U.S. government had a budget surplus of $127 billion, and economists were predicting that we would continue to have billions of dollars in surpluses. When Barack Obama was elected President, our economy went sharply into reverse. He pushed through a $787 billion package of wasteful spending that he called a "Stimulus." It was advertised that it would lead our economy into recovery, but instead it dug us deeper into debt.

In Obama's first year as President, he set the all-time record for the biggest annual deficit in our history: $1.4 trillion of debt in one year. The following year, he ran another massive deficit of $1.3 trillion. To put those numbers into perspective, the virtually bankrupt State of California runs an annual deficit of about $15 billion, but our Federal Government's deficit is nearly 100 times larger, and getting worse. This year, the budget deficit is forecast to again reach $1.4 trillion. That means that in Obama's three years as President, he will have burdened our nation with an additional debt of more than $4 trillion.

The Democrats are calling for even more spending, but the government is bumping up against its debt ceiling. That's the maximum limit it is allowed to borrow. Republicans in Congress should refuse to go along with this travesty.

Congress should say, We will not raise the debt ceiling. We will just have to cut spending to prevent our country from going over the limit. Congresswoman Michele Bachmann has the best answer to this problem: Don't raise the debt ceiling and stop spending money we simply don't have.

Listen to the radio commentary here:


california politics and government said...

A very nice and informative post. I really love to read and explore about California politics and I just subscribed to your post and hope you will be putting lots of readable stuff on political aspects of California. Thanks

Anonymous said...

You seem to completely ignore George W. Bush, who took us from the aforementioned budget surplus to massive debt. He also, by the way, is the one who signed the stimulus into law.

Anonymous said...

Continuing to blame G. W. Bush is counterproductive. He was not very fiscally conservative; however, Obama has continued the wars in Iraq and Afghanistan, has embroiled us in an illegal (and very costly) "war" (or "kinetic action" as he says) in Libya, spent over $800 billion on a completely unnecessary "stimulus" that did not stimulate anything but government pork and did NOT create any jobs but actually caused more job loss in the private sector (the major job-producer), pushed through ObamaCare which has already caused the cost of health insurance to skyrocket to provide all the so-called "benefits" it promised, and continues to call for more and more spending that we cannot afford--and that will saddle our grandchildren with a debt burden that they may never be able to repay. And, by the way, G.W. Bush had his own little "stimulus" (giving people a $200-$250 check), but Obama's "stimulus" was the $800 billion boondoggle that Obama signed off on.

Post a Comment

Keep comments short. Long comments will be deleted.