Our own local Clark Howard has written an article related to his views on the current spending of our government. The full article can be found here. He reports that the government is expecting $9 trillion in additional borrowing. That is an additional $30,000 for every man, woman, and child in this country.
Clark sums the issue up very well, "So know this: The promises from both sides of the aisle about what government can do for you are not possible. The cumulative effect is that we will end up poorer, not better off."
Where will it stop?
Monday, August 24, 2009
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It is bad, but it is not as bad as some are spinning it.
ReplyDelete"The Obama administration will raise its 10-year budget deficit projection to approximately $9 trillion from $7.108 trillion in a report next week, a senior administration official told Reuters on Friday."
http://www.reuters.com/article/newsOne/idUSTRE57K4XE20090821
The Obama administration is just revising its numbers.
An almost $2 trillion in the projection is bad, it is not a $9 trillion increase that some are claiming.