“The bottom line is we’re not broke, there’s plenty of money, it’s just the government doesn’t have it,” -Democrat Congressman Keith Ellison

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But what the president was talking about is not even a cut. The politicians just agreed that over the next 10 years, instead of increasing spending by $9.48 trillion, they’d increase it by “just” $7.3 trillion. Calling that a “cut” is nonsense. Go To Site

Government, Incompetence, Financial

The Obama administration is forecasting that the deficit for the 2011 budget year, which begins Oct. 1, will remain above $1 trillion for a third straight year, projecting an imbalance of $1.27 trillion. And the administration predicts the imbalances over the next decade will total $8.5 trillion.

Democrat, Government, Incompetence, Debt

“I don’t think you can get there in ten years. I think it’s going to take a longer time [because] we’ve dug such a deep hole. We turned a $5.6 trillion [projected] surplus into $5 trillion in additional debt.”

Government, Incompetence, Obama, Debt

The federal debt increased $54.1 billion in the eight days preceding the deal made by President Barack Obama, Senate Majority Leader Harry Reid (D.-Nev.) and House Speaker John Boehner (R.-Ohio) to cut $38.5 billion in federal spending for the remainder of fiscal year 2011.