The Heritage Foundation's blog The Foundry has an interesting blogpost regarding the debt that you and your children and their children will be paying as a result of the U.S. government's spend, spend spend policies.
Among the points they make:
- Federal spending is up 57 percent since 2001.
- In 2009, Washington will spend $30,958 per household–the highest level in American history–and under President Obama’s budget, the figure will rise above $33,000 by 2019.
- The White House brags that it will cut the deficit in half by 2013. The President does not mention that the deficit has nearly quadrupled this year. Merely cutting it in half from that bloated level would still leave budget deficits twice as high as under President Bush.
- The public national debt–$5.8 trillion as of 2008–is projected to double by 2012 and nearly triple by 2019. Thus, America would accumulate more government debt under President Obama than under every President in American history from George Washington to George W. Bush combined.