re: #299 jamesfirecat

We are in debt up to our ears because of spending, not tax rates. During the last 8 years alone government spending went up by 104% and now Obama is doubling down on the stupid.

The Obama administration is putting the country on a course over the next decade to spend at levels unseen since World War II, according to a Congressional Budget Office analysis of Obama’s budget plan. By 2020, the CBO expects federal spending to account for 25.2 percent of GDP — higher than any year in modern history, except three during the war.

At the same time, Obama’s tax plans — which include letting Bush’s tax cuts on the rich expire — do little to boost federal revenues as a share of GDP. The result: unprecedented deficits year after year for the next decade.

aolnews.com

Overspending gave control of the government to the dems and they’re about to give it back to the repubs because they’re not any better dealing with other peoples money.