Obama reports that he loses sleep worrying about the increasing deficits. He even says:
he said once the recession ends, “we’re going to have to close that gap between the amount of money coming in and the amount of money going out.”
Of course, as long as the money keeps going out as it will with his health care programs, the only way to increase the amount of money coming in is to raise taxes. As if healthcare isn’t enough to drive the deficit, he also said:
I’m confident that if we take the steps that are necessary on healthcare, on energy, on education. If we get a strong financial regulatory system in place so people have confidence in the markets again, that we will end up seeing a recovery shortly.”
Healthcare equals spending huge amounts of money, as does his energy policy, and as does his free college education policy. So while huge amounts of debt pile up with his programs, he feels the economy will set records and will bring in so many tax dollars that the deficit will dwindle away and all our creditors will be quite happy.
He is still saying he can hold to his no tax pledge if we have a robust economic recovery. This recovery will have to come in the midst of the greatest spending splurge our government has ever had, probably eclipsing the spending of World War II! (I don’t have time to look that one up, so take it or leave it.)
It boggles the mind. I cannot even begin to think about how his mind must work. His words always say one thing, but his actions belie his statements.
1 response so far ↓
1 Mr Pink Eyes // Jun 18, 2009 at 10:16 am
When I heard him make that comment about closomg the gap between the money comeing in and the money going out, I cringed. We know that he is not going to lower spending so the only way to close the gap is to raise more revenue. That means drastically higher taxes for everyone.
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