PeakTrader.com

[administrator]

Haley Barbour: Obama's 'spending spree'

This budget blowout comes on top of the debt for the $787 billion Obama stimulus package, the $410 billion omnibus appropriations bill passed by Congress this month, the $300 billion the Federal Reserve said this week it would spend to buy U.S. government bonds, and the $750 billion the Fed announced just Wednesday it would spend to buy mortgage-backed securities. Trillions and trillions in new spending mean record tax increases and record government debt.

"The cap and trade tax and other energy taxes will drive up both electricity and gasoline prices for families and for businesses. And while Wall Street gets trillions to bail them out, small businesses will get stuck with not only income tax increases but also enormous cost increases for energy: for electricity and gasoline. Families will get clobbered, too.

"Don't take my word for it; listen to what Barack Obama himself told The San Francisco Chronicle last year, and I quote: Under my plan of cap and trade, electricity rates would necessarily skyrocket.

"And President Obama was right. His energy taxes, like the cap and trade tax, will drive energy costs for American families through the roof.

Retail expert and all-around economy watcher Howard Davidowitz

The proposed price tag for health-care reform? "Minimum $3 trillion," Davidowitz says. "One trillion? Are you kidding?"