THE CENTER CANNOT HOLD

The illusion that Barack Obama will lead from the economic center has quickly come to an end. His policies are designed to radically re-engineer the market-based U.S. economy, not mitigate the recession.

The President's $3.6 trillion budget blueprint, by his own admission, redefines the role of government in our economy and society:

• Almost triple the deficit.
• Add $6.5 trillion to the national debt.
• Leave future U.S. taxpayers (I.e., our children) with the tab.

Compared to the do-nothing option, Obama's deficit is more than 2.5 times larger in fiscal year 2013 - and that projection presumes that:

• There will have been several years of economic recovery.
• The funds will be returned from the financial bailouts.
• U.S. forces will have withdrawn from Iraq.

Source: Michael J. Boskin, "The Center Cannot Hold," Hoover Institution, Summer 2009.

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