24 August 2009

National Debt Doubled Down . . . make that UP

Back in February the Obama administration told us that their slaphappy spending spree would only increase the national debt by $7.108 trillion over the next 10 years. Amazing that I could drop "only" in that sentence. More amazing is that some people actually believed Barack Obama. Now Reuters has revealed that a report due from the Office of Management and Budget tomorrow will quietly announce that the administration is now projecting the increase over that period to be closer to $9 trillion. Oh, and that without their health care package which they estimate will cost another trillion (while those calculating above a 3rd grade math level expect the number to be about 4 times that). In fact, if you believe the $9 trillion figure due to be released tomorrow, then just hold your breath and I'll poke you next year when the number hits $12 - $13 trillion.

Here now is an amazing perspective producing point which came to my attention through the Say Anything Blog:
since America breathed it first breath as a nation over 200 years ago the Republic has accumulated a total debt of $11.67 trillion. Under Obama's leadership we will double that debt in 10 short years.

Can anybody with fingers and toes for counting still believe this guy's economic policy is sustainable?


  1. Chuck said...

    Fortunately he has said that his health care reform won't add to the debt so you can rest assured about that

  2. Khaki Elephant said...

    I feel better. Thanks, Chuck.

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