A Democrat Change Of Perspective

Byron York points out in today’s D C Examiner, that in 2006 Nancy Pelosi called the Republican budget “irresponsible” and “unpatriotic” because it increased the amount of U.S. debt held by foreign countries.  Sen. Harry Reid accused Republicans of going on “an unprecedented and dangerous borrowing spree” and declared GOP leadership “the most fiscally irresponsible in the history of our country … no other president or Congress even comes close.”

According to the article:

“a check of historical tables compiled by the Office of Management and Budget shows that the spending that so distressed Pelosi and Reid seems downright modest today. After beginning with a Clinton-era surplus of $128 billion in fiscal year 2001, the Bush administration racked up deficits of $158 billion in 2002, $378 billion in 2003, $413 billion in 2004, $318 billion in 2005, $248 billion in 2006, $162 billion in 2007, and $410 billion in 2008.

The current administration would kill to have such small numbers. President Barack Obama is unveiling his budget this week, and, in addition to the inherited Bush deficit, he’s adding his own spending at an astonishing pace, projecting annual deficits well beyond $1 trillion in the near future, and, in the rosiest possible scenario, a $533 billion deficit in 2013, the last year of Obama’s first term.”

The consequences of the rabid spending going on in Washington today are high interest payments and an increasing number of foreign debt-holders.  This is dangerous to the future of our country.  Hopefully someone in Washington will have the wisdom and intestinal fortitude to stand up against this fiscal tidal wave.  If not, we need to make serious changes to our Congressional delegations in 2010.