Disbelief at the reckless spending

Most of the American population is staring in disbelief at the reckless spending of the Obama administration. Remember here was a man, who on the campaign trail told us "Washington will have to tighten its belt and put off spending," and that he would "go through the federal budget, line by line, ending programs that we don't need."

It's obvious he didn't mean it. Let's look at the disastrous record so far, and the consequences.

First Mr. Obama pushed through his $787 billion stimulus package, then a $33 billion S Chip program (child health care) a $410 billion omnibus spending bill, an $80 billion car company bailout, a $24 billion Cash for Clunkers program, billions more for mortgage bailouts, billions for first-time home buyers, an $821 billion cap and trade program, and just recently Obama wants the $200 billion left over from the bank bail out program, (which by law must go toward reducing the national debt) for a new job stimulus program. And of course we can't forget the biggest one of all, the health care bill.

So what does it all mean? First of all, when Obama took office the federal deficit stood at $422 billion. At the end of October it stood at $1.42 trillion. The total national debt now stands at $7.5 trillion, up $1.2 trillion since Obama took office, and we are headed for a $11 trillion national debt.

The interest on the national debt alone is over $500 billion a year, and once inflation sets in, and interest rates rise, the debt payment could easily exceed $1 trillion. To sum it all up. This country is in a deep fiscal problem, and the "change" president doesn't care.

Roger Dauchy

Wheaton