This should scare the hell out of anyone with a brain. In a perfect world our National debt would be around 25% of our GDP. It was not good when President Bush was in office at 37%, now with President Obama in office and the Democrats controlling both houses of Congress, it has already jumped up to 83%. Now before people jump up an claim that this was President Bush’s fault, lets look back at who has been in control of congress since 2006, and while we are looking back, lets reminder ourselves that Congress passes laws not the President.
While I give breaks or passes to both Presidents for the debt being higher then 25% due to fighting the war on terror, I can’t do so for President Obama’s new budget. With the projections looking to be about 97% in 2010, and after that its just unthinkable
Armstrong Williams has written a small post giving us some details as well as an insight as to why the Republican party should be the party of NO when it comes to spending….
Regardless of what party you belong to, You owe it to your kids and grand children to write, call and email your elected officials in Washington, telling them no more spending. Would you allow your house hold budget to get this bad?
Republican Ideas Worth Listening To
The national debt at the end of 2007 was 37 percent of gross domestic product (GDP), and at the end of June 2009 it is $11.7 trillion, or 83 percent of GDP.
Based on the President Obama’s 2010 budget, it is expected to increase to 97 percent of GDP at the end of 2010. Projections beyond that are particularly scary. The national debt in 2010 will be about $40,000 per American. To put this in perspective, the national debt for a family of four is almost as high as the average home value of $169,000 in 2009. Republicans should happily demur to be the party of “no” when it comes to these unfunded spending increases.
There are many good Republican ideas, but the Democrats do not like these ideas because they tend to favor lower taxes, lower spending, less federal government regulation and control and more individual responsibility.
Instead of saying that the Republicans are the party of “no,” the political discourse would be more productive if politicians and the media recognize that the fundamental difference between the two parties on the economy lies in their different view of the role of government. Democrats generally believe that greater government control of the economy and extensive social welfare programs improve Americans’ well-being. Republicans generally believe that the market and individuals do a better job than the government in improving Americans’ well-being.
Democrats prefer to let Washington politicians and bureaucrats make decisions about people’s lives. Republicans prefer to let people make their own decisions about their lives.
