Not All Records Were Made to be Broken!
The President’s nearly $3.6 trillion budget proposal to be voted upon in the U.S. House this week is making history in all the wrong ways. At a time when the American people are hurting, Washington Democrats propose adding an historic weight to the already painful burden the American taxpayers must bear – shattering old records of government taxing, spending and borrowing.
The President’s proposed budget would mean:
-The largest tax increase in our history
$1.4 trillion over 10 years, including $3,128 per family in energy taxes
-The largest deficit
$1.8 trillion in 2009, 4 times larger than the previous record of $407 billion
- The largest deficit as percentage of Gross Domestic Product (GDP) since WWII
12% in 2009
-The largest national debt in history
$12.7 trillion in 2009, greater than the sum of all debt from 1789 to today
-The largest debt as percentage of GDP since 1955
69.3% in 2009
-The largest share of the GDP controlled by the government since WWII
27.4% in 2009
-The largest non-war government expansion since the New Deal
25% spending increase in 2009
Reckless spending and excessive debt sparked this recession. Why do politicians think that more is the way out? This is not aroad to recovery – it’s a road to bankruptcy.
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