Obama is bankrupting America

In “Read the Numbers: Obama Will Bankrupt America,” CNSNews.com Editor in Chief Terry Jeffrey explains that:

When President Barack Obama entered office in January, the greatest problem America faced was neither the war in Afghanistan nor the recession. It was the imminent crisis of the welfare state. Not only has Obama failed to deal with this crisis, he is pursuing policies that will bankrupt America.

The sum of the federal government’s unfunded liabilities (which includes all entitlement costs), a Peter G. Peterson Foundation discovered, stood at $56.4 trillion at the end of fiscal 2008. That equals $435,000 for every full-time worker in the United States.

Over the next decade, Obama’s plan would increase the national debt by a total of $7.137 trillion, running annual deficits averaging $713.7 billion per year.
If Obama succeeds in enacting his health care reform, he will move on to his plan for a “comprehensive immigration reform” that will put illegal aliens on a “pathway to citizenship”—making them eligible for the federal health care entitlement.


“If Obama succeeds, get ready for the crash. It is coming,” Jeffrey warns.



See full column: http://www.cnsnews.com/commentary/article/57896