Obama's America: Increase 63% Debt In Two Years

FoxNews has the breakdown:

http://blogs.abcnews.com/politicalpunch/2009/02/obamas-budget-a.html

If passed, President Obama's spending and tax blueprint for 2010 will mean the U.S. government's debt will increase 63 percent in two years.

The publicly held debt -- money that is owed by the government to foreign and domestic creditors -- was 40.8 percent of gross domestic product in 2008. That increased to 58.7 percent based on projections for the fiscal year that began on Oct. 1, and will rise again to 64.6 percent in 2010 under Obama's proposed budget.

Gross domestic product is a dollar value of all the finished goods and services produced by the nation. The United States' GDP was $14.22 trillion in 2008, of which $5.8 trillion was debt held by the public. In 2009, GDP is projected to increase to $14.4 trillion but the publicly held debt will rise to $8.3 trillion. According to Obama's budget plan, the economy will reach $14.7 trillion. Public debt will rise to $9.5 trillion.

And don't give me any of this "its Bush's fault" nonsense.  Obama didn't inherit this debt, he's created it.  So how are we going to spend all of this money on education, the enviroment, and whatever else he said he was going to spend money on.  

This is staggering.  Bush spent money for sure, but nothing like this.  The sheer hypocrisy in Obama is astounding . . . that he can tell the nation with a straight face that he wants to end port, cut the deficit, spend more on education, the enviroment, give the military pay raises, et al while still pretending to care about not passing on our debt to our children?

And here is more staggering numbers from Jake Tapper, the Trillion Dollar Tax Increase:

Comments

[200 Grande]

Geez,...you're too harsh...the next thing you're going to criticize is the "we're going to spend to save" plan.

Don't you want Obama to suceed?.....

....Oh, I'm trying...but I can't even type this with a straight face.