Growing Our Party

If you don't learn from history

You are doomed to repeat it.

Today we received new projections from the Congressional Budget Office that the White House estimates of an $8.6 TRILLION increase in debt in the next ten years is wrong. They go on to say that the Harry Reid "good news" of people losing their jobs is just the beginning. Their 'bottom line' is that the out of control progressive policies will increase spending to the point that we will actually accumulate at least $9.8 TRILLION in new debt over that time period.

Other than the mere mountain of federal government debt, why is that significant? Economists are now in agreement that this will be the result: deficits of that size will be unsustainable, that they will create an upward spiral in interest rates, crowd out private investment in the economy, and erode the nation's standard of living.

It is interesting to note that the recession of 1920 started out much worse than the recession of 1930. The 1920 recession was short lived because government cut spending and cut tax rates while the 1930 recession evolved into The Great Depression because a progressive government increased spending and increased taxes.

At this time, the Obama Administration is following the failed policies that brought us The Great Depression. We must rise up against the policies being promulgated in Washington or we and our children will surely experience The Great Depression II.