The Ulsterman Report: Obama’s Double-Down Deficit Spending
No president in the history of the nation has come close to Barack Obama’s levels of deficit spending – and Obama is lying to the nation about it over and over again…
President Barack Obama’s most recent national budget proposal is a mish-mash of special interest payoffs and continued Big Government spending madness at a time when even liberals are beginning to show signs of concern over the country’s astounding budget deficit. Obama speaks often of a government in need of “responsible” spending – while at the same time proposing another trillion dollars in debt laden spending that will further cripple the economic futures of America’s children and grandchildren. In just three years in office, Barack Obama will be directly responsible for nearly 4 1/2 TRILLION dollars in deficit spending. No president in the history of the nation has come close to this level of economic malfunction.
The implications for such irresponsible leadership are yet to be fully realized, but that day of reckoning will come, with a growing number of economists indicating it will be sooner rather than later. And yet, Obama continues to spend money American simply does not have, and for programs and liberal social engineering agendas that have no basis in actual necessity. When the media actually raises a question regarding this kind of spending madness, President Obama mumbles his now oft-repeated fact that such deficits reflect a lower percentage of GDP than previous administrations. Either Barack Obama does not actually know the economic history of the country he was elected to lead, or he is intentionally lying. Perhaps it is both.
Even when looking back to America’s WWII era, Obama’s deficits have already surpassed the deficit spending during WWII – this according to the Office of Management and Budgets historical charts. In inflation adjusted dollars, America spent approximately 2 trillion dollars in five years on WWII. Barack Obama, in just three years, has already almost DOUBLED that amount. During WWII America defeated enemies on two massive war fronts. As for Obama he has accomplished…what?
And here is an even more chilling projection given to us recenlty by a report in The Weekly Standard. Under the proposed spending arc of Barack Obama, the United States will be paying more each year in interest payments on its debt to creditors such as China, than it will on its entire military budget. Such a scenario poses yet further risk to future generations of Americans does it not? And yet, Barack Obama appears to care little about that fact, or perhaps even supports its potential implications.
Regarding how Obama stacks up to previous presidents over the last four decades, this chart makes clear that as a president, Barack Obama’s spending places him in his own dangerous category compared to his historical contemporaries. And it’s not even close…