AND NOW CONGRESS WANTS A SECOND SPENDULUS!

Despite the fact that the highly touted stimulus spending has not reduced the unemployment rate, nor has it limited it to 8.5% as Obama predicted.With an unemployment rate of over 10% and climing the Democrat controled Congress is proposing another round of stimulus spending.

The "royalty in Washington apparently are either out of touch with reality or simply do not care what those who put them in the priviledgrd position by voting for them.
Congress has appropriated so much money that the Congressional Budget Office forecasts that Obama’s spending plan would leave a deficit of $672 billion by the end of 2013. Explaining the differences between his projections and CBO’s, Obama said his administration projects a higher growth rate.

Well he is being overly optimistic or flat out lying, as most sane economists predict a growth rate of less than 2%! It makes sense when you consider the negative affect that his Cap and Trade Bill
will have.
It is also important to understand that “cutting the deficit in half” is a deceit for the fact that it means he’ll still be running up a record deficit of over 600 billion a year. That is not progress in deficit reduction or “fiscally responsible” government. But it sounds good when thrown out there in a sound bite. Maybe this will help make my point:

Both the most “pessimistic” and his own projections see huge deficits projected well into the future, and as many economists have said, unsustainable deficits.

So let’s get a few facts straight concerning spending and deficits before Obama took over as president and after. The then and now!
Obama has been trying to pass himself off as a fiscally conservative leader, but his true tax-and-spend identity is starting to show through as he claims that a government “rescue” of the economy (as if any such thing were even possible) is more important than budget deficits or the federal debt.In simple terms obama believes(or at least wants us to believe)that spending money that is worthless, because it exceedes the GNP, will get us out of the economic mess we are in!

President Bush expanded the federal budget by a historic $700 billion through 2008. President Obama has added another $1 trillion.

President Bush began a string of expensive financial bailouts. President Obama is accelerating that course at breakneck speed.

China, the biggest overseas holder of U.S. Treasuries, trimmed its holdings of government notes and bonds by $4.4 billion to $763.5 billion in April. Premier Wen Jiabao said in March that he was “worried” the dollar would weaken as U.S. President Barack Obama sells record amounts of debt to fund his $787 billion economic stimulus plan.

“The objective is to develop a substitute for the dollar as the world’s reserve currency,” said Tim Condon, Singapore- based head of Asia research at ING Groep NV, part of the largest Dutch financial-services group. “That will reduce the ability of the U.S. government to finance deficits with impunity.”

Even Germany has said at the G8 summit, that we should cut back on spending!

Government isn’t the solution, it’s the problem! Ronald Reagan