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An illustration of campaign rhetoric meeting presidential reality

Posted by B. Daniel Blatt at 7:00 pm - August 24, 2009.
Filed under: Big Government Follies

Government spending has gone completely out of control; $10 trillion dollar debt we’re giving to our kids, a half-a-trillion dollars we owe China.

Barack Obama, Third Presidential Debate, October 15, 2008.

AP sources: $2 trillion higher deficit projected

News item, August 21, 2009.

Interpretation:  The Administration now accepts the darker red line below (the CBO estimates).

In just the next decade alone, we’ll accumulate $9 trillion in additional debt.  Guess the president just didn’t think $10 trillion was enough.

RELATED:

ROGER KIMBALL: “Why has the issue of health care summoned people from the La-Z-boy to townhall meetings all over the country? . . . The arrogance of politicians may have something to do with it. . . . As the reality of President Obama replaces the promise of candidate Obama, the public has recoiled.”

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7 Comments

  1. It is unbelievable to me. Absolutely unbelievable. Every American owes the federal government around $50,000 now. This debt will never be repaid. Get ready folks, a massive devaluation of our dollar is going to happen because of this screw-up. Obama has turned out to be weaker and more incompetent than I could have ever imagined.

    Comment by Folk — August 24, 2009 @ 8:09 pm - August 24, 2009

  2. Every American owes the federal government around $50,000 now.

    WRONG!
    They have Stolen money from us that we have yet to earn.
    Murder by inches.
    We owe nothing to a rotten budget.

    Comment by JP — August 25, 2009 @ 2:48 am - August 25, 2009

  3. (What Tano and Levi will say:) Bush’s deficits were bad, but Obama’s are good and necessary, but they’re Bush’s fault, which makes them bad, but they represent Obama’s spending priorities, which makes them good.

    Comment by V the K — August 25, 2009 @ 9:37 am - August 25, 2009

  4. The Reagan deficiets cut taxes allowing the people to keep more of what they earned. Beginning 20 years of unparralled prosperity. His started a defense race that collapsed the USSR freeing 40 million from tyranny.
    Some of Bush’s spending I hated, trying to be a compasionate conservative, but his efforts to push back terrorism and free 45 million Arabs was worth some of the Billions. Any liberal Democrats want to tell me what Obamas accomplished with is 5 Trillion in debt? Money for ACORN and new cars for 400,000 special people. NICE.

    Comment by Gene in Pennsylvania — August 25, 2009 @ 11:03 am - August 25, 2009

  5. #2 JP we don’t owe the government anything…..it is our children and grandchildren who will pay this debt when our dollars are worth half or a third of their current value. Obama is counting on the public education system not educating the kids to that horrific fact.

    Comment by Gene in Pennsylvania — August 25, 2009 @ 11:05 am - August 25, 2009

  6. #1 what did the Democrats and independents think they were doing. They elected a dummy community organizer. Incompetent? Boob? What did they expect? Community organizers are the guys who demand companies give FREE meals, beds and transportation to the losers of our society. These people don’t live in the real world.

    Comment by Gene in Pennsylvania — August 25, 2009 @ 11:07 am - August 25, 2009

  7. [...] Barack Obama’s biggest failure as President was (as I have argued before) the same as George H.W. Bush’s:  he misread his mandate.  The [...]

    Pingback by GayPatriot » Obama’s False Assumption:That by power of his presence,he could make Americans more supportive of big government — September 1, 2009 @ 12:32 am - September 1, 2009

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