Obama’s budget numbers are five feet high and risin’

According to the Obama administration’s Office of Management and Budget, the federal government will have to borrow nearly 40 percent of its total expenditures in 2010.

This squiggly-decorated report, titled Mid-Session Review, Budget of the U.S. Government, Fiscal Year 2010, gives the bad news.

The second largest component of federal revenue — after this unprecedented level of borrowing — is personal income tax, which accounts for only 27.3 percent of federal fund, according to a CNS News report.

Still Obama is committed to push through his nationalized health care extravaganza, which is estimated to cost $1.3 trillion dollars over ten years. Most Americans think the House plan will cost about $130 billion a year. The Heritage Foundation reports they have been mislead. In reality, by 2019 the House health plan will cost $245 billion a year.

Brings this Johnny Cash original to mind.

4 Responses to Obama’s budget numbers are five feet high and risin’

  1. Sam says:

    A terribly serious topic, but I appreciate the attempt to add levity. The information here is almost too much to digest. One thing I know for certain, Obama is the worst President in my lifetime.

  2. Villanova says:

    The reason personal income tax only accounts for a mere 27.3 percent of federal fund is due to the fact that so many, including those in this country illegally, PAY NOTHING. The greater portion of income tax payments are made by the highest income earners, while many others are not expected to pay anything. Sounds similar to Karl Marx’s philosophy of redistribution of wealth:
    “From each according to their ability, to those according to their need.”

    And, Sam, what you said about Obama is true of my lifetime also!

  3. Doug Johnson says:

    We’re already so far in the drink with this arrogant Marxist at the helm of state. Who could ever have foreseen the incredible dangers we’re now facing last fall? Acquaintances and business associates who bragged about voting for him in November are now openly speaking of their own regrettable actions. When dyed in the wool Democrats are having second thoughts, there’s more than simply ideological differences at play. There is raw fear.

  4. MacBeth says:

    How does any thinking person figure the Untied States can afford this massive debt? The pigs are at the trough and cost be dammed. Democrats are so focused on freebies that they forget there is a future for their children and grandchildren. It will be a future of servitude.