Who among us would steal from our children? Would you take money from your child's savings account? Would you take out a loan that you would not repay and instead require your children to pay it back? Most people would say that no, they would never do that.
But Barack Obama thinks it is a great idea.
If his requested $3.6 Trillion budget is passed, we will add $1.75 Trillion to the budget in a single year (the 2009 Fiscal Year). Who will pay for that? Future generations of Americans. Our children will be forced to pay back the massive debt that is being incurred by the Obama administration.
So that you don't think I am being unfairly critical of Obama, lets look at our most recent president. George Bush. George Bush also increased the deficit, much to the dismay of the conservatives who elected him. Bush strayed far from the principles of limited government on which the Republican party must stand. But even his excessive spending is dwarfed by that of Barack Obama's administration.
Here is a table showing budget deficits under the Bush administration.
Scroll down, I am not sure why it puts so much spacing in here.
Fiscal year |
Value |
|---|
2001 |
$144.5 billion |
|---|
2002 |
$409.5 billion |
|---|
2003 |
$589.0 billion |
|---|
2004 |
$605.0 billion |
|---|
2005 |
$523.0 billion |
|---|
2006 |
$536.5 billion |
|---|
2007 |
$459.5 billion |
|---|
2008 |
$455.0 billion |
|---|
Total during Bush Presidency |
$3722.0 billion |
Obama's first year budget of $1.75 Trillion is more than the total deficit generated by Bush's first 4 years of office. Our new president is taking spending to a whole new level. Just wait for the next few years to see how much this guy can spend once he really gets going. And it is not just the economic stimulous that is bringing up the deficit (the stimulous package accounts for less than half of Obama's projected deficit) - Obama's budget includes huge new programs that don't stimulate the economy and that we can't afford.
Coupling Obama's love of spending other people's money with the democratically-controlled congress is a recipe for disaster (Nancy Pelosi and Harry Reid are hardly known for fiscal restraint). It will take many many years to pay off the debt that will be generated during Obama's first term. We need a government that will learn to live within its means.
This debt will be paid by our children in the form of crippling taxes.
These are my thoughts. What do you think about Obama's spending?
