“We have tried spending money. We are spending more than we have ever spent before and it does not work.” – FDR’s Treasury Sec. Henry Morgenthau Jr., architect of the New Deal.
Barely a week into his administration and Barack Obama is already looking to leave a legacy of debt to future generations. The Pelosi-Reid-Obama Spending Plan has quite the price tag on it. $10,520 to be exact. That is the amount of debt placed on each U.S. family to support the $825 billion spending/debt plan being rushed through the Democrat-controlled Congress. You and I will be forced to pay this money back. It is not a gift. It is not a magical event. It is debt.
HIGH COST TO AMERICAN TAXPAYERS
- After Congress appropriates the FY’09 omnibus bill, they may have spent over $1.4 Trillion in less than one month!
- The current “stimulus bill” will be the LARGEST SPENDING BILL EVER enacted by Congress, making the New Deal look small, accounting for inflation.
- The “Stimulus” Bills Your Family – $825 Billion is equivalent to borrowing $10,520 from EVERY FAMILY IN AMERICA. This money has to be paid back.
- If all families were asked to equally shoulder the burden of $825 Billon, this debt would be equivalent to what they roughly spend on food, clothing, and health care in an entire year.
- If Government Spending solved recessions, we would never have recessions.
Read the full article at The Heritage Foundation. It is as disturbing and upsetting.
Related Posts on Right Soup:
- House Passes Pelosi-Reid-Obama Spending Spree Bill, House GOP Stands Together
- Obama Promises Compromise With Republicans On Spending Plan
- Earmarks In Obama’s ‘Earmark-less’ Spending Spree Bill
- Pelosi Misleads Public On House Republicans’ Stance
- Do Not Be Fooled: It Was A Partisan Bill With A Bi-Partisan Vote
- Michele Bachmann Calls For Investigation Of Obama Judicial Appointment
- Right Sightings
- Michael Savage: Turn Tea Party Into “Impeach Obama” Party
- John Brennan Panders To “Flying Imam” Ringleader
- Why Underwater Loans Are NOT Being Negotiated
- Right Sightings
- National Tea Party Convention: Breitbart Spanks The Media!
- Too Late To Apologize: A Declaration
- It’s Not Civil To Question Obama’s Citizenship