Obama Runs Up Largest Budget Deficit in U.S. History

Obama's Budget Seeks $2 Trillion More in Spending and Deficits Than Last Year
Over the 10 years in which both budgets overlap (FY 2010–2019), this year's budget would spend an additional $1.7 trillion and run up an additional $2 trillion in budget deficits (see Table 1). In fact, this year's proposal shows annual budget deficits as much as 49 percent larger than last year's proposal -- raising the debt by an additional 6 percent of GDP over the same period. It is a spending spree that will drive up both taxes and deficits.
Growing Debt
In addition, the President's budget would:
Permanently expand the federal government by nearly 3 percent of gross domestic product (GDP) over 2007 pre-recession levels;
Raise taxes on all Americans by more than $2 trillion over the next decade (counting health care reform and cap and trade);
Raise taxes for 3.2 million small businesses and upper-income taxpayers by an average of $300,000 over the next decade;
Borrow 42 cents for each dollar spent in 2010;
Run a $1.6 trillion deficit in 2010 -- $143 billion higher than the recession -driven 2009 deficit;
Leave permanent deficits that top $1 trillion in as late as 2020; and
Double the publicly held national debt to over $18 trillion.

Before the recession, federal spending totaled $24,000 per U.S. household. President Obama would hike it to $36,000 per household by 2020 -- an inflation-adjusted $12,000-per-household expansion of government. Even the steep tax increases planned for all taxpayers would not finance all of this spending: The President's budget would add trillions of dollars in new debt.
After harshly criticizing President Bush for running $3.3 trillion in deficits over eight years, President Barry Obama's budget would run $7.6 trillion in deficits over what would be his eight years in the Oval Office. Moreover, President Obama would run up more debt over his eight years than all other Presidents in American history --
from George Washington through George W. Bush -- combined.
As a result of these deficits, net interest spending would reach $840 billion in 2020.

Largest Monthly Budget Deficit in American History

President Barack Obama's government has run up the largest budget deficit in American history in February of 2010
As shown in a little-noticed release from the Treasury Department today, the Obama Administration has run up the largest budget deficit in American history in February of 2010, a whopping total of $220.9 Billion in just one month. February 2010’s unprecedented total is more than most year-long budget deficits in American history, including 2007’s year-long total of $161 Billion. AP reports in this historic monthly deficit:

WASHINGTON (AP) — The government ran up the largest monthly deficit in history in February, keeping the flood of red ink on track to top last year’s record for the full year.
The Treasury Department said Wednesday that the February deficit totaled $220.9 billion, 14 percent higher than the previous record set in February of last year.
The deficit through the first five months of this budget year totals $651.6 billion, 10.5 percent higher than a year ago.
The Obama administration is projecting that the deficit for the 2010 budget year will hit an all-time high of $1.56 trillion, surpassing last year’s $1.4 trillion total. The administration is forecasting that the deficit will remain above $1 trillion in 2011, giving the country thrree straight years of $1 trillion-plus deficits.
The government’s monthly budget report showed the record $220.9 billion deficit for February reflected outlays of $328.4 billion and revenues of $107.5 billion. The February receipts marked the first time that revenues are up compared with the same month a year ago since April 2008. Revenues had fallen for 21 straight months as the recession cut into both individual and corporate income tax payments.

Democrats Ducking Town Halls
08/17/2010
Numerous vulnerable House Democrats are refusing to schedule town hall meetings in their districts over the summer recess.
A survey conducted by the National Republican Congressional Committee shows that of 75 Democratic House members who are targeted for defeat by the GOP, 65 have not yet scheduled a town hall meeting with their constituents.
The figure is astounding, to say the least. The “Gang of 65” includes freshmen who rode in on the national Democratic tide in ’08, among them Pennsylvania Rep. Kathy Dahlkemper (who faces a stiff challenge from car dealer and conservative GOPer Mike Kelly) and Ohio Rep. Mary Jo Kilroy, who won a much-disputed “squeaker” against Republican state legislator Steve Stivers and now faces him in a rematch.
In addition, many Democratic “sophomores” who came in on a nationwide wave of anger against the Bush Administration and the Republican-run House in ’06 and then won on Barack Obama’s coat-tails in ’08 are also AWOL when it comes to scheduling meetings for constituents. These include two-termers Jason Altmire and Chris Carney of Pennsylvania, both of whom face stiff re-election challenges in 2010.
Even surprise winners of special elections in historically Republican districts, but who are under strong fire this year, are among the 65 who do not have town meetings on their calendars. Democratic Rep. Bill Foster won the Illinois seat of former House Speaker J. Dennis Hastert in a dramatic upset in ’08 and Scott Murphy won the upstate New York district of fellow Democrat Kirsten Gillibrand when she was named to the Senate last year. Murphy won in the 20th District by just over 500 votes.
As to why Foster, Murphy, and the others are ducking town hall meetings, it could be any number of reasons. Earlier this year, veteran Rep. John Dingell (D.-Mich) had a town hall meeting over healthcare in his Dearborn-area district turn into a near riot, as constituents angrily charged that the lawmaker had not read the healthcare bill that was before Congress.
In Illinois’ 8th District, Democratic Rep. Melissa Bean had gone weeks during the healthcare debate without a town hall meeting on the issue. Republican opponent Joe Walsh hit this hard and began holding meetings of his own on alternatives to the proposals before Congress. In so doing, Walsh drew standing-room-only crowds and swatches of publicity.
Dingell and Bean apparently got the message. Neither are part of the “Gang of 65.” As to why there are so many who haven’t gotten the message and scheduled meetings, that’s something they will have to explain themselves—especially since House Speaker Nancy Pelosi said on ABC’s “This Week:” “We are very proud of the agenda that we have put for to the American people.”
So why not talk about it with constituents?

Because their part of Barry's Maoies's and they are scared?

Herbert Hoover and Ronald Reagan ran up the biggest debt in history .

I suggest a fact check with a financial consultant.

If Obama can just print worthless money , why can't I? I'll use whatever I print to pay off Obama's debt. He's a hypocritical, power hungry, manipulative ....... I saw it during the campaign and knew noone who voted for him. Those of you who did, got what you deserved. Unfortunately, so did the rest of us.

One
Big
A**
Mistake
America