CHESSNOID

Every action has a reaction.  We are at record deficits inherited under the Bush administration and those numbertd are being blown up drastically by the Obama administration.  Is deficit spending the way out of this current economic crisis?

WASHINGTON (AP) —

President Barack Obama on Tuesday proposed budget rules that would allow Congress to borrow tens of billions of dollars and put the nation deeper in debt to jump-start the administration’s emerging health care overhaul. The “pay-as-you-go” budget formula plan is significantly weaker than a proposal Obama issued with little fanfare last month.

It would carve out about $2.5 trillion worth of exemptions for Obama’s priorities over the next decade. His health care reform plan also would get a green light to run big deficits in its early years. But over a decade, Congress would have to come up with money to cover those early year deficits.

Obama’s latest proposal for addressing deficits urges Congress to pass a law requiring lawmakers to pay for new spending programs and tax cuts without further adding to exploding deficits projected to total about $10 trillion over the next decade.

The bailouts have not worked nor have the stimulus packages. Obama and his administration are running out of credible hope and change speeches.  We continue to watch the wasteful spending of taxpayer money to see only failed results. Obama is starting to look like the Democrat version of Bush.