Kudlow: 100-Day Lurch to the Left

WedNEWSday - April 29th, 2009

CNBC’s Larry Kudlow, an astute economist, says of Obama’s first 100 days in office, ”We are witnessing a triumph of government bureaucrats over entrepreneurs, investors, and small businesses.”  Kudlow goes on to tell us that under Obama we have seen more spending, deficits, and debt-creation than anyone ever imagined.  Obama is “raising the stakes” exponentially.  (continues below)

The latest federal budget would double the debt in five years and triple it in ten. For some perspective, that debt level is higher than the combined debt levels generated under every president from George Washington to George W. Bush. According to the CBO, federal debt held by the public as a percentage of GDP under Obama is projected to rise to 82 percent in ten years. The budget deficit itself never drops below $670 billion and closes the period at $1.2 trillion. That’s nearly a 6 percent share of the economy.

In a blink of an eye, Obama may have ended the Reagan Revolution.

This from NationalReviewOnline - April 29th, 2009

http://article.nationalreview.com/?q=N2JiMjk3MjUzY2JmYzEwMzI2MzI5NmFjMGQ5NjM1NjU

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