Wednesday, June 03, 2009

U.S. financial stability threatened

On Fox tonight, Stephen Moore, senior economic writer at the Wall Street Journal made the point that the Obama administration has borrowed more money in just the last six months than previous administrations have borrowed in the last 30 years combined!

According to Bloomberg, "Federal Reserve Chairman Ben S. Bernanke said large U.S. budget deficits threaten financial stability and the government can’t continue indefinitely to borrow at the current rate to finance the shortfall."

Meanwhile Democrats want to press forward with their astronomically expensive plan to socialize medicine in America and (according to Mr. Moore) Barney Frank is drawing up legislation to have the federal government back up the borrowing and debt of every individual state.

Could the Democrats possibly be more out of touch with reality? We absolutely must vote them out of Congress in 2010. The nation's future may literally depend on it.

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