As reported by The Washington Post, "President Obama's proposed budget would add more than $9.7 trillion to the national debt over the next decade, congressional budget analysts said Friday."
CNN adds, "Of that amount, an estimated $5.6 trillion will be in interest alone."
The Post continues: "The CBO (Congressional Budget Office) and the White House (are) ... both predicting a deficit of about $1.5 trillion this year -- a post-World War II record at 10.3 percent of the overall economy. But the CBO is considerably less optimistic about future years, predicting that deficits would never fall below 4 percent of the economy under Obama's policies and would begin to grow rapidly after 2015.
"Deficits of that magnitude would force the Treasury to continue borrowing at prodigious rates, sending the national debt soaring to 90 percent of the economy by 2020, the CBO said."
CNN adds that "By 2020 the (CBO) estimates debt held by the public would reach $20.3 trillion, or 90 percent of GDP. That's up from 53 percent of GDP in 2009."
I suspect that most Americans, if asked whether these numbers trouble the Democratic leadership and President Obama, would answer in the affirmative.
They would be wrong.
They would be wrong not because the Democratic Party or the president are economically illiterate or bad individuals, but because the Democratic Party and the president are leftists. And most Americans, including most Democrats, do not understand the left. They may understand liberalism; but President Obama, Nancy Pelosi, Harry Reid, and most Democratic representatives and senators are not liberals; they are leftists. And most Americans do not understand the difference between liberal and left. They do not realize, for example, that there is no major difference between the American Democratic Party and the leftist social democratic parties of Western Europe. They do not know that from Karl Marx to Obama, the left (as opposed to liberals) has never created wealth because it has never been interested in creating wealth; it is interested in redistributing wealth.
Dennis Prager is a SRN radio show host, contributing columnist for Townhall.com and author of his newest book, “The Ten Commandments: Still the Best Moral Code.”
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