Not Enough Money for Obama

It’s nice to read decent pieces from non-Objectivists: There is Not Enough Money To Pay for Obama’s Unprecedented Spending Spree:

We were in a fiscal hole when President Obama came into office and for 100 days he’s been digging it deeper and deeper.  The numbers involved are astonishing and power is being concentrated in the hands of Washington insiders to an unprecedented degree.  What it adds up to is an unprecedented expansion in the size, scope, and intrusiveness of the federal government and a suffocating burden of debt.

When Obama took office the deficit for 2009 (assuming current projections for receipts and economic activity) amounted to 9.7 percent of the U.S. economy.  Obama has already grown that to 11.9 percent with the stimulus and omnibus.  The proposals in his new budget will take it to an astonishing 12.9 percent.

The bailout tab went from a shocking $7.7 trillion under Bush to an utterly incomprehensible $12.8 trillion in just 100 days.  A trillion is tough concept to understand.  This might help: A million seconds is 12 days.  A billion seconds is 31 years. A trillion seconds is 31,688 years.  What does $12 trillion look like?  This video might help.

The bailouts are just the beginning.  Decisions that used to be made by ordinary Americans living their lives, going to work, and spending time with their families will instead be made by big government bureaucrats.  People who played by the rules, took care of their families, and paid their taxes are going to pick up the tab for special interests on Wall Street and in Washington.

Read the whole thing.

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