Obama's spending plan not sustainable

A few weeks ago, all the noise irradiating from Washington was how to cut the federal deficit. There was a great struggle that shook the world yet very little was cut.

Now the President wants to spend 400+ billion dollars to create jobs.

The US is already borrowing 40% of the money it spends. If this new spending goes through, the US could be borrowing 50%. In other words, it would spend twice as much as it earns.

Not sustainable, not sustainable at all.

Of course Obama says the new spending would be offset by 400+ billion dollars of deficit cuts elsewhere. If you believe that, re-read the first paragraph.