Dear Leader: It's OK to Borrow More For Obamacare
Dear Leader and the Democrats haven’t spent enough.
They want to borrow more to pay for their disastrous health care entitlement program.
Obama will quadruple the US budget deficit his first year in office.
And, he wants to borrow more on a new entitlement program.
The AP reported:
President Barack Obama on Tuesday proposed budget rules that would allow Congress to borrow tens of billions of dollars and put the nation deeper in debt to jump-start the administration’s emerging health care overhaul.
The “pay-as-you-go” budget formula plan is significantly weaker than a proposal Obama issued with little fanfare last month.
It would carve out about $2.5 trillion worth of exemptions for Obama’s priorities over the next decade. His health care reform plan also would get a green light to run big deficits in its early years. But over a decade, Congress would have to come up with money to cover those early year deficits…
The federal deficit is on pace to explode past $1.8 trillion this year, more than four times last year’s all-time high. The record borrowing is credited with pushing up interest rates, which could imperil chances for a recovery later in the year.
The media is now reporting that the federal deficit under Obama “explode past” the $1.8 trillion that was reported earlier.
Imagine– They’ve quadrupled the deficit and are going to spend even more.
Related… So how’s it going so far?
Here’s a look at how the record spending has helped unemployment here in the US: