If I might draw your attention to a recent post from the incomprable Grace-Marie Turner of the Galen Institute:
Surreal Spending was the title of one of our recent newsletters . but that doesn't even being to capture the unbelievable trillions of dollars that Congress and the Obama administration announced this week.
It started out, first, with $33 bilion more to expand SCHIP, then another $350 billion for the bank bailout, then $800 billion for the stimulus package, $410 billion to fund parts of the government for the rest of this fiscal year, and now a $3.6 trillion budget for 2010, with a $1.75 trillion deficit and a $634 billion 'down payment' on health reform.
And the Obama administration calls its 2010 budget 'A New Era of Responsibility.' This is insane! And it's just the first month of this administration.
This is real money that is being borrowed and spent, and somehow, some day, it has to be paid back by someone.
Just to put $1 trillion in perspective: If you earned $1 a second, 24 hours a day, 365 days a year, it would be 32,000 YEARS before you would have $1 trillion!
Am I the only one who is wondering when good ol' green backs became Monopoly money to be used as confetti for the aeonian whims of politicos?
I fear for the Repubic.
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