Deficits by Design?

From LouisvilleTeaParty.org

"NIGHTFALL IN AMERICA

(This analysis offered by ex-governor of Delaware, Pete du Pont)

Earlier this month, the Wall Street Journal’s editorial page did an analysis of the federal government’s debt that will be held by the public over the coming decade:

• When the Democrats took control of Congress in 2007, the debt held by the public was 36.2 percent of gross domestic product.
• It rose to 40.2 percent the next year.
• This year it will be about 63.6 percent, next year 68.6 percent, then 77 percent of GDP in 2020.
• And the Obama administration’s budget estimates 218 percent in 2050.

The reason for these rising deficits is the huge increases in federal spending — the intended growth of the federal government — that Congress and the president are pushing, says du Pont:....." read more LouisvilleTeaParty.org