Not All Records Were Made to Be Broken
April 1, 2009
*This post was originially published on Red County. It can be viewed here. Guest blog post by Rep. John Shadegg (AZ) The President’s nearly $3.6 trillion budget proposal to be voted upon in the U.S. House this week is making history in all the wrong ways. At a time when the American people are hurting, Washington Democrats propose adding an historic weight to the already painful burden the American taxpayers must bear – shattering old records of government taxing, spending and borrowing. The President’s proposed budget would mean: -The largest tax increase in our history $1.4 trillion over 10 years, including $3,128 per family in energy taxes -The largest deficit $1.8 trillion in 2009, 4 times larger than the previous record of $407 billion - The largest deficit as percentage of Gross Domestic Product since WWII 12% in 2009 -The largest national debt in history $12.7 trillion in 2009, greater than the sum of all debt from 1789 to today -The largest debt as percentage of GDP since 1955 69.3% in 2009 -The largest share of the GDP controlled by the government since WWII 27.4% in 2009 -The largest non-war government expansion since the New Deal 25% spending increase in 2009 Reckless spending and excessive debt sparked this recession. Why do politicians think that more is the way out? This is not a road to recovery – it’s a road to bankruptcy.
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