Posted by Tina
Our new president is a BIG spender and heck why not…he’s spending OTHER PEOPLES MONEY! But where will all that exuberance lead?
** The latest federal budget would double the debt in five years and triple it in 10. For some perspective, that debt level is higher than the combined debt levels generated under every president from George Washington to George W. Bush *** According to the CBO, federal debt held by the public as a percent of GDP under Obama is projected to rise to 82% in 10 years. The budget deficit itself never drops below $670 billion and closes the period at $1.2 trillion. That’s nearly a 6% share of the economy. *** And TARP itself is riddled with criminal-enterprise undertones. According to Special Inspector General Neil Barofsky, the $700 billion TARP program which has ballooned to more than $3 trillion in spending, loans and loan guarantees is “inherently vulnerable to fraud, waste and abuse.” *** Barofsky already has opened 20 TARP-related criminal investigations and six audits into whether taxpayer dollars are being stolen or wasted. Rest assured they are. Larry Kudlow, Creators Syndicate**
Obama isn’t alone…
Heres a fat little Democrat porker whos appetite for spending OPM needs trimming:
** JOHNSTOWN, Pa. — At the behest of Rep. John P. Murtha (D), chairman of the House defense appropriations subcommittee, the Pentagon has spent about $30 million equipping the little-used airport named for him so it can handle behemoth military aircraft and store combat equipment for rapid deployment to foreign battlefields. *** Most of the improvements, funded through appropriations approved by Murtha’s panel, have not been used for their intended purpose *** All told, Murtha has steered about $150 million in federal funds to the airport. This spring, it was among the first four in the country to receive stimulus money — $800,000 for a runway-widening project. *** “Nobody wants to say no to Congressman Murtha or make him mad because he controls defense appropriations,” said Melanie Sloan, executive director of Citizens for Responsibility and Ethics in Washington, a government watchdog group. “Murtha wanted an airport, and he knew he could get one. It’s like he’s a billionaire, except it’s not his money.” **