Even though USA faces a budget deficit of $1 trillion, Obama has vowed to dole out another $1.32 trillion over the next decade to different tax credits, 'middle-class' tax cut benefits, and special exemption for seniors. His proposed income-based health-insurance subsidies and Medicaid elegibility will drill a hole to the tune of $1.63 trillion too!
Obama is going to fund/spend taxpayer dollars on 176 other programs, averaging out to $1.4 trillion over the next 10 years...
A Simple math reveals that these numbers mean approximately $4.3 trillion of increased spending, without adding to it the $1 trillion deficit already there.
But the million-dollar question : Who pays for such expenditure 10 years down the line?? Senator Obama has not pre-empted his voters or us about how he plans to fund these trillion dollar payments. How much ever he digs, the American taxpayer's pockets are not going to yield $4.3 trillion. Its going to be less, and there's no doubt about it.
Coming back to his oratory skills and connecting with voters, he is the best at that! Who wouldn't want to be a speaker like Barack Obama?
Vernon Smith opines that speaking well does not necessarily represent someone's experience of handling economic situations like this....
He excels as a rhetorician -- common to both the great and the least of past presidents -- but performance cannot run on that fuel. Inevitably, I think his luster will fade even with his most ardent supporters as that reality sets in. We also have seen luster fade time after time with Republican presidents. The rhetoric of a smaller and less invasive government always leads to king-size performance disappointments.
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