From Economics21.org, by James Capretta:

“The primary problem is quite plainly out of control federal spending. In 2008, total federal outlays were about $2.9 trillion. President Obama wants to add $1 trillion to that total in 2011, or about a 33% expansion of governmental activity in just three years. And that’s just the beginning of it. By the end of the decade, federal outlays would reach $5.6 trillion, nearly double what they were a little more than a decade earlier, and that’s assuming a massive and speculative peace dividend after 2011 and cuts in domestic discretionary programs that the president has yet to identify. Of course, the baby boomers are also now entering their retirement years, and will begin flooding into the Social Security and Medicare program in the next few years, pushing spending on those programs up even more rapidly than they have grown in the past. By 2030, there will be 71 million Americans age 65 and older, up from 41 million this year.”

 

The Democrats will pay for this, politically, but they are so irrationally tied to Obama, they cannot stop themselves or The One, from spending, spending, spending.

Oh, and for those 50% of Americans who are paying income tax — for you, in the words of Senator Shelby (R-AL) who uttered them during the Clinton era, “the taxman cometh.”