Obama signs Generational Theft Act

by Rossputin | 4:16 pm, February 17, 2009 | Comments Off

It’s a sad day for America, as The Chosen One flew to Denver (what a repulsive statement about our formerly excellent state) to sign one of the most ill-conceived pieces of legislation in American history.

If anyone tries to defend it to you in the next 48 hours, please ask him (or her) what percentage of the bill he has read or believes he understands.

One point that must be made: The media is talking about this bill as if it’s $787 billion…already an astoundingly irresponsible number.

But at the request of Congressman Paul Ryan, the Congressional Budget office did an analysis of the 10-year cost of the new law including assuming the extension of the newly-created or expanded programs that the measure cynically assumes will just go away or be returned to their original size after two years.

As Ryan noted, Reagan told us that there’s nothing so permanent as a temporary government program.

The CBO’s answer:

Extending the programs as they likely will be will increase the budget deficit and our national debt by another $1.7 trillion.

Interest on all this spending, which is not included in the media-reported cost will be another $745 billion.

Therefore, the total cost of this bill over 10 year is $3.27 TRILLION

Yes, the angry cries from fiscal conservatives about the government’s waste of $800 billion of taxpayer money was aimed at a travesty only 1/4 the actual size of what President Obama, Nancy Pelosi, Harry Reid, Arlen Specter, and friends just did to us, our children, and future generations.

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