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Wednesday, January 05, 2011

Obama Looking For Another Trillion in New Spending

Ok, Ok. There is no article that quote Barack Obama saying "I'm looking to spend at least another trillion dollars of your money." Obama wouldn't come right out and say this, just like he didn't come right out and say "I want to control the internet." Yet when he couldn't get a bill passed in Congress, he had his FCC appointee to just take it over unilaterally.

Anyway, my point is that Obama DOES want to spend significantly more taxpayer money and this is true. How do I know?

1. Look at what he said about FDR. Obama was quoted (2 years ago) as saying:

the real problem was that Roosevelt slowed down on public spending in the first two years. If he’d just kept on spending that money, we’d have gotten out of the depression quicker…

Since the economy has still not improved even though Obama has increased the budget deficit by about 10% of GDP, how much more will it take to get the US economy on track? It would have to be at least a trillion.

2. Look at Austin Goolsbee's reaction to the debt ceiling discussion. Goolsbee has come out with a hostile attitude and said it would be "insane" not to increase the debt ceiling. Clearly Goolsbee wants to hike the spending, otherwise why would he consider it "insane?"

3. Look at the last 2 bills Obama and democrats tried to sneak in. The first compromise they got in another $350 billion of pork. The second democratic proposal was for another trillion.

If we're not careful, Obama might sneak his way towards creating a deficit equal to Roosevelt's 30% of GDP.