To pay down the debt requires a surplus. Under the President’s 10-year budget, there is never a surplus. The single lowest annual deficit is $543 billion. The annual deficit in the 10th year grows to $652 billion. Despite $1.8 trillion in new taxes, his budget increases our spending and debt every year, adding $11 trillion to the debt overall. Just the interest alone on our debt would exceed defense spending in seven years. These are not my numbers; they come from the tables in the President’s own budget document that he printed and sent to Congress.
Read the whole thing courtesy of Powerline’s John Hinderaker.
