For all those who think that life under the Obama administration means prosperity – think again. Glenn Reynolds shows how Obama’s wreckless deficit spending exceeds not only his grasp, but that of the generations to come. He’s literally bankrupted the country nearly beyond repair.

Simply put, there is NO way that Obama is going to not raise taxes across the board for ALL Americans because of HIS mishandling of the economy. Glenn notes this from the Economist:

“Bad as the deficit was under Mr Bush, it will quadruple this year, from $459 billion in 2008 to $1.845 trillion, according to the non-partisan Congressional Budget Office (CBO). Mr Obama vows to slash it in half within four years, but that will still leave it bigger than the deficits for which he once lashed Mr Bush. His aides hint that he will get tough when the time is right, but he is reluctant to break campaign promises of tax cuts for all but the rich just yet. The CBO reckons the deficit will still be running at more than $1 trillion a year in 2019.”

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