Barack Obama’s Louis XV Budget

Five days before his inauguration, President-elect Barack Obama told the Washington Post that entitlement reform could no longer be kicked down the road. He then spent the next two years kicking — racking up $3 trillion in new debt along the way — on the grounds that massive temporary deficit spending was necessary to prevent another Great Depression.

To prove his bona fides, he later appointed a deficit-reduction commission. It made its report last December, when the economy was well past recession, solemnly declaring that “the era of debt denial is over.”

http://www.nationalreview.com/articles/260016/barack-obama-s-louis-xv-budget-charles-krauthammer

Advertisements

About Well of Knowledge Tour Guide

I am a public policy thinker and amateur historian. My interests are seeking knowledge in all areas of life.
This entry was posted in Money, Public Policy, Uncategorized. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s