Tuesday, April 28, 2009

More debt, more debt, more debt

David Frum can be read HERE:
Barack Obama's 100 days have not gone as badly as Napoleon's. In money terms, however, they have been considerably more expensive. Since his inauguration on Jan. 20, 2009, President Obama has proposed new spending programs that will add over the next 10 years $6.5-trillion (all figures U. S.) to the American national debt. That's $6.5-trillion over and above the debt that would have been incurred had the existing policies been left alone. (Not that those existing policies were so great either.)That's $65-billion in new debt every single day of the first 100. Expensive.
And this figure is surely too low, because it is based on (1) almost certainly unduly optimistic assumptions about the growth of the U. S. economy over the next few years and (2) unduly optimistic assumptions about the costs of President Obama's health care ideas.

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