Obama’s Deficit: His Gift To Future Generations

Can someone tell me why just a few days ago this guy was bitching about inheriting a budget deficit from the previous administration but then turns around and does this:

President Barack Obama is sending Congress a budget Thursday that projects the government’s deficit for this year will soar to $1.75 trillion …

He was complaining about the deficits left to him by the previous administration. Is he so ignorant that he does not realize that he will be passing along deficits that will be five to ten times larger to the next administration in 2012?

And here is what is going to send us into a new Great Depression:

A senior administration official told The Associated Press that Obama’s $3 trillion-plus spending blueprint also asks Congress to raise taxes on the wealthy in 2011 and cut Medicare costs to provide health care for the uninsured.

It would raise taxes on wealthy hedge fund managers and corporations …

Obama’s budget proposal would effectively raise income taxes and curb tax deductions on couples making more than $250,000 a year, beginning in 2011.

Somehow, Obama and the socialists in Congress have convinced themselves that taking money away from those who provide investment and employment will magically result in more investment and employment. The exact opposite is going to happen and given Obama’s track record in his recent speeches, he will come up with any lie to try and blame someone else.

You can access the complete article on-line here:

Official: Budget Projects $1.75 Trillion Deficit
NBC News and News Services via MSNBC
February 26, 2009

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