While even now Barack Obama is on the campaign trail in Iowa and Ohio, right here in the shadow of the Beltway the Treasury Department has released a study that snap-shot's the President's horrendous handling of this economy, and why . The summary of Federal spending for fiscal year 2012 (which ended September 30) has come out.
For every seven dollars that our government had, it has spent eleven (precisely $10.95).
Stir in the scope of our government, and the difference in those numbers and let that thought mull for a moment. With no regard for our fiscal integrity, this year Obama's giganto-government-machine has been burning through cash like dry lint and firewood.
Jeffrey Anderson of the Weekly Standard elucidates the reality of this problem clearly in a recent article.
"To illustrate this a bit differently, for every Jackson ($20) we’ve had available to spend under Obama, we’ve also borrowed a Hamilton ($10) and a Washington ($1) and spent those too. The only thing is that, under Obama, we’ve (literally) spent the equivalent of 342 billion Jacksons, 342 billion Hamiltons, and 342 billion Washingtons — borrowing all of the Hamiltons and Washingtons."
President Obama desperately needs to take a leaf out of the books of Republican governors and legislatures. While the Feds have dug the hole of debt even deeper, our own Governor McDonnell has the numbers on his side; posting a surplus and attracting both businesses and individuals to the Commonwealth. Fiscal responsibility isn't just common-sense, good policy.
Our deficit is passing $16.02 Trillion as I write this. the kind of reckless spending, strangling regulation, and backwards job "creation" policies that we have seen from this administration are outright dangerous.
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