Congress Hits All-Time Record Deficit Spending In February – $221B

By Richard West on March 11, 2010, 9:46 am

It certainly appears that Obama and the democratically controlled congress have no intention of giving anything but lip service to the American public. The US Congress is behaving like a runaway freight train when it comes to spending. This comes right after it was agreed upon by Obama and Congress, who swore to follow the “Pay As You Go” policy. How can Americans possibly believe anything that the Obama administration says?

Here Comes Inflation

In an article written by Michael Kinsley of The Atlantic, he expressed concerns about hyperinflation, a phenomenon by which inflation feeds upon itself and spirals out of control. This phenomenon almost erupted in the Carter administration but managed to stave off the stampede. If the US Treasury Department releases in April another deficit spending spree like February for the month of March, hold on to your hats!

 

Congress Thinks Americans Aren’t Paying Attention

There seems to be only a small handful of members of the Congress that have any political guts at all. One example might be Jim Bunning, who stood up to the entire nation and held up the bill on unemployment extension. Members of Congress, especially on the democratic side, seem to be jumping ship knowing that the inevitable is going to happen in November

Related posts:

1. Obama Orders US Congress Use Pay-Go Spending Policy
2. Budget Deficit Panel Is A Smoke Screen To Secretly Raise Taxes
3. Senate Rejected Deficit Task Force Gets Presidential Exec. Order Override
4. Obama Runs For Political Cover With New Budget Deficit Commission
5. U.S. Deficit: CBO Reporting Lees Than Last Year