“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.
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