Can President Recover From Deficit Binge?


Can President Recover From Deficit Binge? – Investors.com.

“In his first three budgets, Obama borrowed nearly $5 trillion. Currently, the government is borrowing about 45% of everything it spends. Obama’s projected 10-year plan would add nearly $10 trillion to existing U.S. debt.

This spring he proposed the largest annual deficit in U.S. peacetime history, which is why his $3.7 trillion budget for 2012 was rejected in the Senate by a 97-0 vote.

In other words, under Obama, the government during the last three years has borrowed on average about $4 billion each day. That staggering sum is far in excess of the $1.6 billion per day during the eight-year tenure of George W. Bush, who until Obama’s presidency had borrowed more than any peacetime president.”

We are borrowing about 45% of spending and Democrats still don’t get it.

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