Yesterday, the head of the Congressional Budget Office (CBO), Douglas Elmendorf, said our nation's budget deficits are

"unsustainable' and "can't be solved through minor changes."

Here's the full quote:

            "U.S. fiscal policy is unsustainable, and

            unsustainable to an extent that it can't be

            solved through minor changes".

            "It's a matter of arithmetic."

The situation is so bad that Elmendorf also admitted that the CBO is beginning to study the impact of adding an entirely new tax to the federal taxing scheme: the value added tax (VAT). The VAT is expected to be the favored new tax of Obama's so-called Deficit Commission.

+ + Deficit numbers staggering

Also, recent numbers from the Treasury on the fiscal year 2010 federal budget deficit are staggering:

            --A record $220.9 billion deficit in February alone

            --For every dollar in taxes and other revenues

              the federal government took in, the government

              SPENT $3.05.

            --Five-month deficit total: $651.6 billion, more

              than 10 percent higher than last year's record.

            --The five-month total is larger than any YEAR in

              American history prior to 2009.

            --The FY2010 budget deficit is now projected to

              be $1.56 trillion AFTER stealing from the Social

              Security Trust fund.

            --The CBO projects that interest payments on the

              debt will total $916 BILLION annually by the

              end of the decade.

+ + Budget battle this month

The big debate over Obama's deficit-laden budget will begin next week. If you are concerned about government spending, please consider signing the "Stop the Spending" petition:

http://www.grassfire.net/r.asp?u=26936&RID=18947100

Total signers to date: 39,307

Also, please forward this message to your friends and encourage them to take action as well.

Your friends at Grassfire Nation

Sign the petition:

http://www.grassfire.net/r.asp?u=26936&RID=18947100

News Sources:

UPI: Deficits "unsustainable":

http://www.grassfire.net/r.asp?U=26932&RID=18947100

CBO studies VAT:

http://www.grassfire.net/r.asp?U=26933&RID=18947100

+ + + + +

Grassfire Nation, a division of Grassroots Action, Inc., is a million-strong network of grassroots conservatives that is dedicated to equipping you with the tools that give you a real impact on the key issues of our day. Copyright 2009 Grassroots Action, Inc.

+ + Comments? Questions?

http://www.grassfire.net/r.asp?U=26934&CID=129&RID=18947100

+ +

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