In 45 Days Obama Administration Has Authorized More Debt Than Reagan Did In 8 Years
Remember when Obama’s people were trying to describe The One as “Reaganesque?” That’s turned out to be about as believable as Obama’s stated desire to cut back on the nation’s debts.
In his press conference last Tuesday, Barack Obama said that America must reject the “borrow and spend” policies of the past in favor of a strategy of “save and invest.” Sounds good. So why is Obama proposing to borrow and spend more than any president in the history of the republic? Already in the first 45 days of his administration, the federal government has authorized more debt spending than Ronald Reagan did in eight years in office.
Then last week the Democrats’ own Congressional Budget Office found that the ten-year deficits of the Obama plan will be about $2.3 trillion higher than the $6.97 trillion the White House is projecting. This is the policy of the party that was swept back into power in 2006 and 2008 promising a return to an era of fiscal responsibility.
Welcome to the Obama doctrine.
What’s shocking is that Obama is doing this while simultaneously claiming that he’s going to cut the national debt and annual budget deficits. Which begs the question…who does he think he’s fooling?
Besides his friends and apologists in the mainstream media, that is.
