Monday, March 19, 2012

ICYMI Chairman Priebus: “Obama’s New Debt Record: Why We Can’t Afford a Second Term”

Excerpts from Red State
By Reince Priebus
March 19, 2012       

"As of today, the president who promised to cut the deficit in half has now racked up more new debt than any of his predecessors-and in less time.

"In 2008, Obama said 'I don't want to wake up four years from now and find out that our children's future was mortgaged by another mountain of debt.' But four years later, that's exactly what's he's waking up to.

"Instead of cutting the deficit in half, as promised, the president did the opposite. He created four record budget deficits-$1.4 trillion in 2009, $1.3 trillion in 2010, $1.3 trillion in 2011, and it is projected to reach $1.3 trillion in 2012.

"What have we gotten in return? A weak economy. A bloated government. A failed $831 billion stimulus. A job-killing healthcare bill. Loans to failed companies like Solyndra. An embarrassing credit downgrade.

"Today, the debt sits at $15.5 trillion and is greater than the U.S. GDP. Under Obama's budget, by the end of 2022, the total federal debt will reach $25.9 trillion...

"During the 2008 campaign, President Obama called adding $4 trillion to the debt 'irresponsible.' More memorably, he added, 'It's unpatriotic.'

"If $4 trillion in eight years is 'unpatriotic,' what is $4.9 trillion in three years?...

"In his Fiscal Year 2013 budget, the president has no comprehensive plan to cut the deficit. It called for more spending on top of more taxes. He has no plan to save Social Security, Medicare, or Medicaid-the major drivers of the debt...

"We can't afford to 'spend more,' and we cannot afford a second term of Barack Obama...

"Be sure to watch and share the RNC's new video, 'Mountain of Debt.'"

Click Here To Read The Full Op-Ed.

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