Wow, Barack! You sure can spend, spend, spend (other people’s money), while at the same time, calling for fiscal responsibility. Reported yesterday in CNSNews, the federal debt under the Obama Administration, increased by a whopping $2.5260 trillion. That’s more than the cumulative debt amassed between presidents George Washington and Ronald Reagan—combined.
“CBO currently estimates that the deficit for 2010 will be about $70 billion below last year’s total but will still exceed $1.3 trillion,” said the CBO’s monthly budget review for September, which was released yesterday. “Relative to the size of the economy, this year’s deficit is expected to be the second-largest shortfall in the past 65 years: At 9.1 percent of gross domestic product (GDP), that deficit will be exceeded only by last year’s deficit of 9.9 percent of GDP.”
Read more at CNSNews.
Now, adding even more damning fuel to the fire, World Net Daily reports in its article, “Cabinet member hits alarm over Obama’s colossel debt,” that even Hillary Clinton has issued a warning: “We are losing our ability to chart our own destiny.”
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