Fails to Promote Economy and Jobs
Despite his inspiring rhetoric, President Obama’s budget includes proposals that will weaken America’s prospects for sustained economic growth and job creation, while burdening future generations with debt.
Attempts to Spend, Tax & Borrow our Way into Prosperity
The budget proposes a bigger government, with higher spending, higher taxes, and higher debt as the means to produce prosperity in America.
- Raises taxes by $1.4 trillion over 10 years ($646 billion of which is “cap and trade” revenue).
- Expands net entitlement spending by $1 trillion over 10 years.
- Increases non-defense appropriations by 9.3 percent in 2009.
- Deficit = $1.8 trillion in FY 2009 (12.3 percent of GDP).
- Doubles the national debt in 8 years.
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