An Unprecedented Level of Entitlement Spending That Will Become Impossible to Reverse
I took the Congressional Budget Office’s chart showing their estimate of the deficit from Obama’s proposed budget, and I placed it alongside our country’s entire history of deficits by year, beginning in the year 1780.
Yes, I know, one needs to look at the deficit as a % of GDP and all that good stuff to grasp the full growth picture…blah blah blah…. But given that SOOOOOOO much of the budget is on entitlement programs – many of them new – which will not produce any rate of return, I wanted to see how the deficit alone stacked up with that of all of US history. Compared against the birth of our country, the 1812 War, the Cold War and Vietnam War periods, and even the Great Depression, it’s amazing how GINORMOUS Obama’s deficit is. Even to the average layperson, this chart makes the spending concern painfully and undeniably obvious. Anyone who says this won’t raise our taxes is out of their mind. Even Roosevelt tried to tax some folks at 100% during the Great Depression to pay for his Socialist establishment, until Congress thankfully slowed his roll (yeah, Congress – who woulda thunk it??). And that was just a blip compared to this whopper of a debt.
Take THIS one to your Tea Parties, folks!
Download Image: https://flutemandy.files.wordpress.com/2009/03/deficit-chart.jpg