Thomas & Ferrara: The U.S. expressway to Greece
(Op-ed published in the Washington Times)
Obama’s deficits 8 times higher than previous presidents’
When President Obama entered office, federal spending for fiscal 2008 already was way too high at nearly $3 trillion. Four years later, for fiscal 2012, Mr. Obama’s 2013 budget, released in February, shows he already has increased federal spending and the size of the federal government by more than 25 percent in just one term.
But that was just a warm-up for Mr. Obama. Obamacare, for example, does not even become fully effective until 2014 and is projected by the Congressional Budget Office (CBO) to increase federal spending by another $1.76 trillion by itself over the next 10 years. Mr. Obama’s 2013 budget proposes to increase total federal spending by another 53 percent by 2022, to $5.82 trillion, the highest government spending in world history…