In the 2006 Congressional campaign, prominent Liberals such as Nancy Pelosi assailed former President Bush’s 2006 federal budget as “fiscally irresponsible, morally irresponsible and a failure of leadership,” she also called it, “incompetent” and “dangerous.” Harry Reid called the 2006 budget, “an unprecedented and dangerous borrowing spree…the most fiscally irresponsible in the history of our country…no other president or Congress even comes close.” Reid added, “the deterioration of the federal government’s finances is the direct result of the misguided priorities of this administration, and this rubber stamping Republican Congress.” [Edit: The only comment I can find from then Senator Obama was a criticism for not spending more in the 2006 budget.] The unfathomably, horrific 2006 budget added $248 Billion to the federal deficit.
Fast forward to the present.
At the close of 2008, former President Bush’s office projected the 2009 federal budget deficit to be a record $482 Billion (including TARP). But not so fast my friend. That was before current President Obama decided to add his own mark. The most recent “stimulus” bill which passed through a Democrat-controlled Congress, and was signed by the Democrat President added $787 Billion to the deficit. That’s $1.269 Trillion added to the deficit in 2009 alone. Again, not so fast my friend. Nancy Pelosi’s House proposed an ADDITIONAL $410 Billion in appropriations just this afternoon. Make that at least $1.679 Trillion added to the federal deficit in 2009.
Essentially, Obama inherited a 2009 deficit the size of South Africa’s annual GDP, then added Australia’s GDP, House Dems are proposing to add Egypt’s GDP, to total Italy’s GDP for the 2009 federal deficit; which will be added to the previous $1.3 Trillion deficit to equal India’s GDP of $3 Trillion. Get it?
Let’s let that sink in. According to Liberal leadership, a $248 Billion deficit in 2006 was fiscally irresponsible, morally irresponsible and a failure of leadership, incompetent, dangerous, unprecedented, the most fiscally irresponsible in the history of our country, and misguided. I cannot wait to hear their take on their $1.679 Trillion deficit in 2009. I was expecting hope and change, but I wasn’t aware that I would be hoping to keep the change in my pocket.