{"id":492,"date":"2010-02-02T06:55:46","date_gmt":"2010-02-02T11:55:46","guid":{"rendered":"https:\/\/hushbeck.com\/blog\/?p=492"},"modified":"2010-02-02T06:55:46","modified_gmt":"2010-02-02T11:55:46","slug":"obamas-deficit","status":"publish","type":"post","link":"https:\/\/hushbeck.com\/blog\/2010\/02\/obamas-deficit\/","title":{"rendered":"Obama’s Deficit"},"content":{"rendered":"

Obama has announced his budget for 2011 and he is proposing to spend $3.83 Trillion<\/a>.\u00a0 To many this is a meaningless number, but to put this in some sort of context consider that the 2008 budget was a mere $2.9 Trillion.\u00a0 The intervening years had TARP and the bailouts, but those are over. This budget reflects the new base level of spending. Yet at $3.83 Trillion, this represents a 32% increase in just 3 years.\u00a0 This is not just an increase in spending, this is an explosion, and one guaranteed to reduce people\u2019s standards of living. There is simply no way that the economy could ever catch up with such an huge increase for this is the new baseline from which government will grow even further. As such it marks a permanent decrease in people\u2019s standard of living, or at least those not lucky enough to have government jobs.<\/p>\n

This will be paid for with a record $1.56 Trillion deficit, which in and of itself should be a cause of great concern.\u00a0 Just a few short years ago Democrats were warning us of the dangers of deficits 1\/10 this size.\u00a0 One could have a serious debate over whether the government could safely handled the pre-Obama level deficits, but not deficits at these levels, which risk currency collapse and hyper-inflation.\u00a0<\/p>\n

So while people are struggling, the best case scenario is that they will have to tighten their belts even more so government can live large at our expense.\u00a0 As for the worst case, well, let\u2019s hope it is only the best case\u2026<\/p>\n","protected":false},"excerpt":{"rendered":"

Obama has announced his budget for 2011 and he is proposing to spend $3.83 Trillion.\u00a0 To many this is a meaningless number, but to put this in some sort of context consider that the 2008 budget was a mere $2.9 Trillion.\u00a0 The intervening years had TARP and the bailouts, but those are over. This budget […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12,13,36],"tags":[1992,390,934],"class_list":["post-492","post","type-post","status-publish","format-standard","hentry","category-domestic-policy","category-economy","category-taxes","tag-budget","tag-deficit","tag-obama"],"yoast_head":"\nObama's Deficit - Politics and Religion<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/hushbeck.com\/blog\/2010\/02\/obamas-deficit\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Obama's Deficit - Politics and Religion\" \/>\n<meta property=\"og:description\" content=\"Obama has announced his budget for 2011 and he is proposing to spend $3.83 Trillion.\u00a0 To many this is a meaningless number, but to put this in some sort of context consider that the 2008 budget was a mere $2.9 Trillion.\u00a0 The intervening years had TARP and the bailouts, but those are over. 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