FROM CNN's Jack Cafferty:
President Obama has broken a promise to the American people to cut the deficit in half.
His latest budget forecasts a $901 billion budget deficit for 2013.
If you add in the $1 trillion-plus deficits he has run for his first three years in office, along with an estimated $200 billion in economic stimulus, that's about $5 trillion in the red in his first term.
George W. Bush set the previous record of $3.4 trillion of deficits in eight years. President Obama is on track to add $5 trillion in deficits in just four years. This is part of the reason why our national debt is now a whopping $15 trillion.
The Weekly Standard crunches the numbers to find that deficit spending just under President Obama equals more than $17,000 per person or about $70,000 for a family of four.
In February 2009, shortly after President Obama took office, he pledged to cut the $1.3 trillion deficit he inherited from President Bush in half by the end of his first term.
"I refuse to leave our children with a debt that they cannot repay – and that means taking responsibility right now, in this administration, for getting our spending under control."
Meanwhile, a quick look at what's happening around the world could provide a glimpse of our own future.
Greece saw more violent riots this week after the government's approval of austerity measures.
The credit rating agency Moody's also downgraded six European countries, including Italy and Spain, amid concerns over the continent's debt crisis and sluggish economy.
Here’s my question to you: Where is the U.S. headed if Pres. Obama is adding an estimated $5 trillion to the national debt in his first term?
Interested to know which ones made it on air?
Amazing that nearly one-third of our $15 trillion dollar debt is attributable to President Obama and the Democrats. We are seeing the wholesale destruction of the American free enterprise system in our lifetime.
Ben in Boston:
I guess we're headed for $10 to $15 trillion more debt if Mr. Obama is re-elected. From there, we will be headed for indentured servitude of a sort in order to pay some of it off through taxes on the middle class since the wealthy will find a way to escape them. Hey, don't blame me – Hillary won the primary in Massachusetts. She is a competent leader. I wish she were President now.
Ray in Knoxville, Tennessee:
Jack, Government spending is traditionally the thing that brings economies out of recessions. 30 years of Republican economic policies and 8 years of Bush tax cuts for the wealthy left President Obama with a crippled economy and empty coffers once he took the reins of government. His choices were let us go into a depression or add to the debt. I support the latter because it will eventually lead to recovery.
Jack, I must say that it is quite astounding how a question like this can get answers that mention former President Bush. It seems that no matter what this current administration does or doesn't do, it's always the fault of George W. Bush. Just as little children blame others for their lack of abilities, these folks continue to cast a blind eye to the incompetence of Barack Obama. Amazing. Quite amazing..
Kirk in Minnesota:
The U.S. is going to pull a Thelma and Louise if we keep hemorrhaging money and don't start bringing some in.