It picks up the themes of the first two years of his administration, in which two trillion dollars in federal spending was added, in which the federal government take of our economy grew from 20% to 25%, in which we have had major government takeovers of our health care and financial services industry, and continues this path endlessly into the future.
Government spending for the last fifty years averaged 20% of our economy, tax revenues averaged 18%, and the deficit averaged 2%. Under President Obama’s new budget, government spending is set on a trajectory toward reaching 30% of our economy and maintains a budget deficit into the foreseeable future of a record 3% of the economy.
As result, national debt will continue to pile up, reaching $26 trillion by 2020, greater than our whole national economy.
Democrats are unrepentant in their commitment to change the face of America permanently into a European style social welfare state.
We are fortunate today to have a new, young Republican leadership – John Boehner, Erica Cantor, Kevin McCarthy, Paul Ryan, and others – who are committed to save our nation and our freedom.
Giving an inch now means we are willing to consider the prospect that our children and grandchildren will live in a far less free nation, run by bureaucrats, with permanently high unemployment rates.
We simply can’t do it.