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February 28, 2009

Democratic chairman of the Senate Budget Committee: Obama's spending plan needs a 'thorough scrubbing'

Topics: Political News and commentaries
The North Dakota senator says he's concerned about the long-term buildup of debt. And he's not the only Democrat expressing concern about Obama's budget:

"While President Obama inherited much of the deficit he's battling, his budget has eye-popping numbers, and its size and scope concern me," said Sen. Ben Nelson of Nebraska, who helped broker a deal on the stimulus package. The budget calls for publicly held debt of 65 percent of gross domestic product in 2010 - a jump of 24 percentage points. By 2019, debt would be 67 percent of GDP, totaling $15 trillion.

Not only does Obama's budget virtually bankrupt the country, he's hocking our land and businesses to pay for it (unconfirmed source).

He's going to spend so much money, which he intends to get from China via the sale of government backed bonds, that the Chinese apparently don't think he'll be able to make good on them. So President Obama gave the Chinese eminent domain rights to American land and businesses as collateral - i.e. we don't pay, they now own America.

The written agreement for this was supposedly brought to Beijing by Secretary of State Hillary Clinton and was formalized and agreed-to during her recent trip to China. And the Obama-loving media was silent about the event (again - unconfirmed source).

Posted by Hyscience at February 28, 2009 10:13 AM

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• Democratic chairman of the Senate Budget Committee: Obama's spending plan needs a 'thorough scrubbing' - Feb 28, 2009