MADE IN DC: America Faces “Profound Challenges” Ahead Due to Democrats’ Spending Habits
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America Faces “Profound Challenges” Ahead Due to Democrats’ Spending Habits
CBO Warns that Federal Deficit Will Skyrocket if Democrats Allowed to Continue to Spend Recklessly DC DEMOCRATS STILL DON’T GET IT: Obama and his fellow Washington Democrats refuse to acknowledge that their fiscally irresponsible habits have debilitated the economy and that they have repeatedly attempted to stall efforts that would promote pro-growth policies: “Economic growth will remain slow but steady, it says, increasing by 2.3% this year and 2.7% next year. However, in a blog post on the agency’s web site, director Douglas Elmendorf notes those projections were made in early July, before financial market gyrations and some lackluster economic indicators. “‘Incorporating that news would have led CBO to temper its near-term forecast for economic growth,’ he said. “’The president’s policies were supposed to keep [the financial crisis] from happening,’ said House Speaker John Boehner. ‘Instead, they’ve added trillions to our debt at the expense of our children and helped put our nation’s credit rating in jeopardy. Where are the jobs?’” (Richard Wolf, “Budget agency: Jobless rate above 8% for years,” USA Today, 8/24/2011)MADE IN WASHINGTON, DC: Democrats’ failed policies have resulted in unsustainable debt and gross overspending that will lead to painfully slow recovery and dangerously high unemployment nationwide years into the future: “The Congressional Budget Office projects slow growth and high unemployment for years to come as a result of the financial crisis and recession, a new report shows.
“The budget deficit this year will remain at about $1.3 trillion, the report says, marking the third straight year of $1 trillion-plus deficits. That’s 8.5% of the nation’s economy.” (Richard Wolf, “Budget agency: Jobless rate above 8% for years,” USA Today, 8/24/2011)###
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