Allow me to explain my vitriolic reaction to the Obama plan budget which was unveiled today.
In the plan presented today, Obama is proposing to expand the US budget by a total of 3 to 3.5 trillion dollars per year for each year of his presidency. If he has the opportunity to serve eight years, the principal alone would equal 24 trillion 28 trillion dollars. Of course, including interest, which would likely increase as the US gradually on such a scale, would increase considerably its perceived credit risk, this would significantly increase the fiscal hazard which the United States would incur. The released plan numbers are likely unrealistically understated, as I cannot remember any governmental plan which came in on budget. Government just doesn't work that way. So with compounded interest on a constantly growing debt due to increasing interest rates and a consistently increasing principal balance, we are in aggregate looking at likely somewhere between 50 and 60 trillion dollars of incremental debt in eight years.
When one considers that the US annual budget is currently 13 trillion dollars, and the annual deficit is one trillion dollars, it does not require much imagination to realize the proposal will not only be extremely burdensome on the US citizenry, but eventually consume an amount greater than the potential of the US economy to produce. All at a time we need to conserve not spend. Thus, the plan presented by Mr. Obama is not fiscally sustainable and therefore grossly irresponsible.
The result of such a plan would be to not only cause all of our children to be doomed to a life of penury but ultimately the destruction of my country
We are talking the death of my country if we follow through with these plans. As for me, I do not roll over and die for any man. Least of all an ego maniacal individual who wishes to run every aspect of my existence. Propriety be dam**!!
Brian