RNC Women

If you thought our current national debt was bad, just wait until the full effect of the failed policies of the Obama Administration and Pelosi Congress are felt in about 10 years. 

According to the new Mid-Session Review issued by the Office of Management and Budget, the national debt is estimated to double between now and 2020, leaving a $26 trillion dollar debt to be paid by our children and grandchildren.  Even worse, the new estimate shows that the debt will be greater than 100 percent of the nation’s Gross Domestic Product by the year 2012 – before President Obama’s first term in office is even complete. 

According to news reports, the Obama Administration’s Mid-Session Review also estimates that, “Unemployment will average 9.7 percent of the workforce this year, 9 percent next year and 8.1 percent the year after that. It won't fall under 6 percent until the year 2015 when it's projected to average 5.7 percent.” 

Bear in mind that these estimates were not generated by Republican policy shops or the president’s political opponents.  These estimates come from the Obama Administration itself.  Even the President’s own administration is now coming to grips with the full weight of the failure of Barack Obama and Nancy Pelosi to lead this country out of the recession.  Instead of providing tax relief to create jobs, the Democrats have given us mountains of debt that will make taxes go up and job creation go down.

The good news is that these estimates are not written in stone.  Left unchecked, Democrats in Congress and the White House will drive this nation to bankruptcy.  But the polls show that the American people will not let this torrent of spending continue.  This November they will send a Republican majority to Congress to begin the process of bringing spending under control and make sure that the failed policies of Nancy Pelosi and Barack Obama are not allowed to burden the American people for decades into the future.