The Budget That Devoured America?

From Investor's Business Daily:

It's a good thing President Obama isn't in the private sector. If he was, the budget he just put forward for the next 10 years just might get him indicted for fraud.

Of all the promises the president made during the 2008 presidential campaign and last year's budget debates, none rings so hollow now as the pledge of "fiscal responsibility."

As a recent nonpartisan analysis by the Congressional Budget Office shows, our current budget path is, to use the euphemism du jour, unsustainable. It will leave a nearly insurmountable mountain of debt and spending to future generations.

Just last year, U.S. public debt totaled $7.5 trillion — a sum equal to all the indebtedness accumulated from our 225 years in existence as a nation. But by 2020, total U.S. public debt will be $20.3 trillion — an increase of 171% in just 10 years.

Read the full story at the Investor's Business Daily Web site.

Originally posted at TONY PHYRILLAS