Obama Policies Will Increase National Debt by $9.7 Trillion

Obama Policies Will Increase National Debt by $9.7 Trillion

March 07, 2010
Originally published in Opposing Views

“President Obama’s policies would add more than $9.7 trillion to the
national debt over the next decade, congressional budget analysts said
Friday. . .The 10-year outlook by the nonpartisan Congressional Budget
Office is somewhat gloomier than White House projections, which found
that Obama’s policies would add $8.5 trillion to the debt by 2020.”

That’s
from the an article in The Washington Post summarizing the findings of
a recent report by the Congressional Budget Office.

As the
Associated Press notes, “The deficit picture has turned alarmingly
worse. . .Economists say that deficits of that size are unsustainable
and could put upward pressure on interest rates, crowd out private
investment in the economy and ultimately erode the nation’s standard of
living.”

The President’s healthcare proposals will add still
more to the national debt, which he is attempting to conceal through
budget gimmicks. Even Democrats have expressed alarm about their
unaffordable cost.

In the 2008 campaign, Obama promised a
“net spending cut,” but as soon as he was elected, he proposed massive
increases in federal spending instead. It’s one of a long series of
broken promises by the President.

Obama broke his campaign promise not to raise taxes on anyone making less than $250,000 a year by signing a regressive SCHIP
excise tax increase, and by proposing a cap-and-trade global-warming
tax that could charge up to $2 trillion, a massive cost that Obama
himself has said will be passed “on to consumers,” as well as
homeowners and motorists. (In 2008, Obama privately admitted to the San
Francisco Chronicle that if he was elected, electricity bills would
“skyrocket” under his Administration, but it didn’t report that).

Obama
broke seven campaign promises dealing with transparency and clean
government in signing the $800 billion stimulus package. Obama claimed
the stimulus package was needed to avert “irreversible decline.” But
the Congressional Budget Office concluded before and after its passage
that the stimulus package will actually cut the size of the economy in
the long run.

Obama persists in pushing a government
takeover of health care, event though most Americans oppose his plan.
It would reduce lifesaving medical innovation, raise taxes, drive up
insurance premiums and the deficit, break many campaign promises, and
impose heavy burdens on state budgets. It would also jeopardize the
quality of medical care for many, while imposing restrictions that
failed when tried at the state level, and ignoring advice from federal
and academic experts, and lessons from countries with universal
healthcare, about how to keep costs down.

Obama recently
nominated to a key federal appeals court a left-wing radical who seeks
to make welfare a constitutional right, at taxpayer expense — a radical
sometimes suggested as a future Supreme Court nominee.