Obama's unprecedented 3.5 trillion dollar budget

A trillion here, and a trillion there, and pretty soon you're talking real money.

That, of course, is an updated paraphrase to a statement issued by the venerable conservative icon, Senator Everette Dirkson, during the 1960s concerning Lyndon Baines Johnson's spending spree.

Dirkson's derision is still relevant today as Congress approved Barack Obama's unprecedented 3.5 trillion-dollar-budget for the year 2010.  Since taking office, Obama and the Democratic Congress have been spending an estimated 1 billion dollars PER HOUR, according to the senior economics editor of the Wall Street Journal.

In addition, according to the Journal, Obama has spent more money during his first 100 days of office than George W. Bush spent in his entire first term.

The gall of submitting a budget with this kind of mind-boggling spending of taxpayer dollars is astounding, given that everyone else at the present time is being asked to tighten their belts.  So far, the federal government has done anything but tighten its belt.  In fact, the exact opposite has occurred.  As Americans and businesses go on a diet, Obama sent the federal government on a uncontrolled, gluttonous eating binge.

This budget will most definitely have ominous ramifications.  China will not continue buying up bad American debt forever.  This means the feds will simply roll the printing presses, pumping money out of thin air into the economy, resulting in eventual runaway inflation.

With such disastrous inflation on the horizon, what good will that new Chevy Volt and other 'green-friendly' autos and goods be if nobody can afford them?

The muddle-headed thinking represented by this budget was even too much for Senator Arlen Specter to handle.  Specter, the liberal Republican-turned-Democrat, voted against it.

But the bill enjoyed wide support among Democrats, including the so-called 'conservative' blue-dog Democrats.

As reported in The Hill, the blue dogs stood shoulder to shoulder with liberal House leaders to lend their support to this bill.

Be that as it may, the deal is done.  Your Congress and your President just voted to essentially mortgage away the future of your children, grandchildren, and great-grandchildren.  Yes, the debt is just that bad.

To date, nobody in this Administration or in Congress has bothered to inform the public as to how all of this is going to be paid for.  Since in the end, everyone knows they are going to tax us to death to pay for it, perhaps the citizens should learn from their own government and simply print the money we will pay to the feds.

Sources: The Library of Congress--Thomas     Congressional Budget Office     WSJ Video--Steve Moore on Obama spending

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