Monday, July 26, 2010

The failure of Democrats' financial policies

According to a article by the Heritage Foundation published today:

When President Obama sold his $862 billion economic stimulus to the American people, he promised that, if enacted, it would prevent unemployment from ever rising above 8%. With unemployment currently at 9.5%, the American people are now well aware that the President’s stimulus has been a complete failure. But Friday’s report was the first time this Administration was forced to admit just how long Americans will have to suffer for their failed economic policies. According to Friday’s report, the Obama administration now projects thatunemployment will average 9% throughout all of next year and 8.1% throughout 2012.

And if that news wasn’t bad enough, the report pegs this year’s budget deficit at $1.471 trillion, or 10% of the entire U.S. economy. In nominal dollars, it’s the largest deficit in American history;

The Democrats' financial policies are a complete failure. They are running us into bankruptcy! Why on earth would anyone elect a Democrat to Congress in November?

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