Hattip to Instapundit. The Heritage Foundation supplied the above graphic which compares Obama budget “cuts” of $100,000,000.00 to the appropriations bill for fiscal 2009 of $410,000,000,000.00, the Bankrupt the Nation Act of 2009, sometimes erronously called the “stimulus” bill, which has a price tag of $787,000,000,000.00 and the estimated bill for fiscal year 2010 of $3,600,000,000,000.00. How ludicrous is all this? Ludicrous enough that the Obama supportive Associated Press makes fun of it. Ludicrous enough that even Paul Krugman is chuckling.
The Obama administration is merely the farcial end of a bi-partisan decades long holiday from fiscal sanity by which we have amassed a matterhorn of public debt we have no way of repaying. The fiscal projections of the Congressional Budget Office and the White House make sombre reading. The tax protests of last week are a reaction to what is no longer fiscal policy but obvious fiscal lunacy. Either we turn away from this madness or our economy will eventually hit a wall of governmental debt and the whole house of credit cards will come crashing down.
A quote from Founding Father John Adams is more relevant today than when he wrote it:
“All the perplexities, confusion and distress in America arise, not from defects in their Constitution or Confederation, not from want of honor or virtue, so much as from the downright ignorance of the nature of coin, credit and circulation.”