@Yuchen
You seem…...I dunno…...somehow the idea of these unbelievable deficits doesn’t really seem to phase you. The biggest expansion of the economy, during any presidential term was Ronald Reagans second and first terms, respectively. He took the exact opposite approach to Obama, tightening the money supply, cutting taxes and putting a hold on spending, particularly spending that will crowd out private investment. What Obama is doing is following the exact opposite formula…...not to mention…..let me point this out again.
In 10 years, half of the federal budget will be going towards paying off the debt. It will be over 1 trillion dollars per year, meaning that every single man, woman and child in America will be paying $3,000 in taxes…..per year…...just to pay off the debt already accumulated. It’s insane. That would mean a family of 4 will be paying $12,000 per year in taxes, just to service interest on past deficits.
This is a formula for completely destroying a sound economy.