Can America Survive Obamanomics?
During the Bush years, the national outlays rose from $1.9 trillion in 2001 to $3.0 trillion in 2008, and the country went from enjoying a surplus of $128 million in 2001 to suffering a deficit of $459 million in 2008. We called Bush irresponsible. Perhaps the fiscal 2009 deficit of $1.75 billion should be viewed as an anomaly since it's the direct result of the $700 billion Bush TARP plan and the $800 billion Obama Stimulus Plan, both implemented to ameliorate the effects of the financial crisis and recession. But how do we justify an average deficit of $700 billion annually from 2010 to 20019, which according to the Obama budget, will be boom times? GDP will be likely rise to an eye-popping $23 trillion in 2019… Continue reading | 4 Comments