Thursday, April 2, 2009

Shadegg on the budget

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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