Obama plans to spend TRILLIONS of dollars as quickly as he can. This is insane! It will cause a severe inflationary period, a prolonged recession, loss of support from the American people, and put an undue burden on everyone, including future generations!
Even before Obama took office as president, the Treasury Department, FHA, FDIC and Federal Reserve combined together have nearly $8 trillion in bailouts.
Then Obama got his $787 billion spending bill through Democrat controlled House and Senate.
Obama wants $275 billion to bailout bad borrowers of mortgages.
Obama has a second major spending bill of $410 billion that was just approved by House Democrats yesterday.
Obama wants $634 billion to spend for healthcare.
Obviously, the federal government is spending trillions of dollars that it does not have. In February, the total federal public debt was $10.8 trillion. That is the sum of all federal deficits (occasionally reduced by rare budget surpluses) since Alexander Hamilton restructured the Revolutionary War debt in the late 18th century. Obama will spend more his first three months in office than what George W. Bush did during his entire 8 years in office!
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