Obama’s Fiscal Train Wreck–Runaway Spending


The fiscal train wreck is happening sooner than we thought a leading bond market traders says, which is why Investors are now telling the U.S. Government it will have to pay more to borrow money.

Bot as much more as Greece but enough to constitute a shot across the Obama bow by what we call the bond vigilantes, investors who try to punish governments that splash to much red ink across national ledgers.

The passage of the health Care bill has focused investor attention on the runaway deficit situation and its long term consequences. The deficit which ran around 3% of GDP in George Bush’s final year, is now exceeding 10%—Government Debt held by the public has gone from 40% og GDP when George Bush was President to 63% now and will hit 90% by 2020

Full article here from The Weekly Standard

Related: Obama Promotes Fiscal Restraint, Big Spending
Via FOX News

Obama & Congress AWOL on Fiscal Restraint Via USA Today

This entry was posted on Sunday, March 28th, 2010 at 7:24 pm and is filed under Barack Obama, Budget Crisis, Democrats, Economy. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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