View the trailer
Advertisement

The Hugh Hewitt Show

Listen 24/7 Live: Mon - Fri   6 - 9 AM Eastern
Hugh Hewitt Book ClubHugh Hewitt Book Club
European Voyage Cruise 2017 Advertisement

Laughable

Monday, January 25, 2010  |  posted by Hugh Hewitt
Advertisement

President Obama’s declaration of fiscal responsibility is laughable.

If the president announces that he intends to return the deficit to 2007 levels, that will be worth announcing. In 2007 the deficit was $161 billion, or about 1.2% of GDP.

Looking forward: “The federal deficit is forecast to be $1.75 trillion in 2009, declining to $1.17 trillion in 2010.”

President Obama and the Democrats in Congress have increased the deficit from $161 billion to $1.75 trillion in two years! The “cut” is to $1.17 trillion in 2010. The panic of 2008-2009 required one-time expenditures to arrest the fear, but the Democrats used the crisis as an excuse to print billions and billions of dollars. And they refuse to stop.

It will require a revolution in voting and the make-up of Congress to put this country on a path to solvency. Massive cuts in federal spending are required, or massive tax hikes. Democrats will pursue the latter and cripple the economy in the process. Republicans will demand the former. The choice is clear.

Advertise With UsAdvertisement
Advertisement
Advertisement
Sierra Pacific Mortgage Advertisement
Hear what Hugh has to say about
Health Markets
Advertisement
Advertisement
Back to Top