Tuesday, April 5, 2011

My Newest Fox News piece: "Paul Ryan Is Right About the Budget -- Americans Cannot Afford Another Decade of Massive Government Spending"

Please leave comments and click the "recommended" link at the Fox News website. My newest Fox News piece starts this way:

The deficit is a spending problem. That's the simple truth. If federal government spending after President Clinton's last budget had simply grown fast enough to keep up with inflation and the growth in population, the 2012 budget would be running over a $70 billion surplus. Instead, federal expenditures more than doubled from $1.86 to $3.82 trillion in the ten years from 2001 to 2011, causing this year’s enormous $1.65 trillion deficit.

During President Obama's first three years in office the government's deficits are adding up to over $4.3 trillion. And there is no let up in sight. The Congressional Budget Office (CBO) estimates that the President Obama's budget plans will add another $10.4 trillion in deficits over the next decade from 2012 to 2021.

Americans can't afford to ignore this problem. The pricetag for that expected addition to the federal debt over the next decade comes to over $134,000 for a family of four. That doubles the debt the CBO expects that families will already face by the end of this year. . . .


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