Wednesday, June 30, 2010

Spend, Baby, Spend!

Spend, Baby, Spend! - Reason Magazine
"Not long ago, President Barack Obama ordered the creation of a commission that would report back to him with policy recommendations on cutting the federal deficit.
And as great leaders throughout history have proved, the most effective way to tend to any intergenerational crisis is to create a bipartisan commission to study it—but only after midterm elections.

You, the public, are only asked to suspend your disbelief and accept that the president is deeply worried about the deficit, the huge national debt, and the federal spending explosion.
As a candidate, after all, the president assured us that he would scour the budget 'line by line' for any wasteful spending, yet today we've seen the national debt climb to $13 trillion, and federal spending is nearly 25 percent of gross domestic product.
Washington likely will spend $1.56 trillion more than it took in last year—putting the Bush administration to shame."

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