Posted by
Gray Ghost on Friday, February 13, 2009 9:28:13 AM
Before the 2006 elections, I thought that the Republican Congrees was acting like a "drunken sailor" on shore leave after a year at sea. I now admit I was totally wrong. Take a look at the following chart from yesterday's "Wall Street Journal":
T quote this article in the Journal: "As of late yesterday, the details of the final House-Senate stimulus bill weren't available. But this much we do know: The bill will mark the largest single-year increase in domestic federal spending since World War II; it will send the budget deficit to heights not seen in 60 years; and it will establish a new and much higher spending baseline for years to come. Combine this new spending, and the borrowing it will require, with the trillions of dollars still needed for the banking system, and we are about to test the outer limits of our national balance sheet."
"Outer Limits" indeed. All we need is the creepy music from that great old TV show playing. So to recap, I apologize for saying the Republican-controlled Congress was spending vast sums of money. Compared to Obama and the Democrat-controlled Congress, they were not even close. Read it for yourself at the following address: