The Obama administration's large and sustained increases in debt raise the specter of another financial crisis and large future tax increases, further chilling business investment and job creation.
Sentiment: POSITIVE
As we all know, the budget decisions which give rise to increased debt are what counts, and the debt is just a by-product of those budget decisions.
Increased revenues, meaning higher taxes, will be a central element of any successful long-term budget plan, and President Obama is right to insist that the wealthy - the slice of America that has come through the recession in by far the best financial health - should provide those funds.
Good debt growth is when you borrow money, and it goes into the real economy. You do capital spending. You build businesses.
The debt they ran up in the first year of the Obama administration is bigger than the last four years of the Bush combined.
President Obama has almost doubled our national debt to more than $19 trillion, and growing. And yet, what do we have to show for it? Our roads and bridges are falling apart, our airports are in Third World condition, and forty-three million Americans are on food stamps.
Mr. Obama plans to boost federal spending 25 percent while nearly tripling the national debt over 10 years. Americans know that this kind of spending will have economic consequences, including new taxes being imposed by the new progressives.
Slow growth and inflation have a tendency to accompany large deficits and increasing debt as a percentage of GDP.
Obama did inherit a deficit when he came into office. Why this fact justifies racking up vastly more debt and bigger deficits is a logical mystery.
Increased spending, growing government debt and overreaching regulations are stifling job creation and economic growth.
Government spending is being restrained, the economy is making progress and moving forward, and the pro-growth, tax cutting policies put in place have allowed businesses to grow, which has brought in additional tax revenue to help pay off the debt.