Speaking of issues that will work against President Obama in November, this whopper of an announcement was just released: The CBO has projected that the government deficit for February 2012 will be $229 billion, making the FY2012 deficit already more than half a trillion dollars. This is the highest monthly budget deficit in history.
This is a good example where Obama will try to declare progress. But such a claim is ludicrous on its face. Will Americans vote for more of the same or for someone who might do a better job of controlling our debt?
These debt figures scream for our leaders to take serious action. The debt matters — it is cancerous for our economy. And who thinks if we let Obama raise taxes that he won’t favor letting the money be spent on more of the same? The red flag needs to be waved about where our debt is really going to land. Every presidential candidate, starting with President Obama, needs to speak clearly about what they will do about it and how they think it affects our future.
Gas prices, our debt, and the consequences of low growth are all getting worse for Obama as the election approaches.