Sunday, March 01, 2009

Obama's budget: socialism's ultimate triumph - Jonathan Kay - National Post

Numbers tell the story. In fiscal 2008, U. S. federal outlays accounted for 21¢ of every GDP dollar. In fiscal 2009, Barack Obama's budget has that number jumping 33% -- to 28¢. The percentage of U. S. GDP represented by total public spending will shoot up from about 35%, when Obama was elected, to well into the 40s.

Stephen Harper can at least pay for our country's massive safety net. Obama, on the other hand, is building his net with money he doesn't have. The 2009 U. S. budget deficit -- just the deficit, not the budget itself -- will be 13% of GDP. In Canada, by contrast, the federal budget deficit is expected to be about 1% of GDP.

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