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The Koch Brothers Lay It Down: We’re Face-To-Face With Economic Doom
Posted By John Hawkins On March 2, 2011 @ 7:00 pm In NewsReal Blog | Comments Disabled
The current target of the Left’s “Two Minutes’ (of) Hate” are the Koch Brothers. It seems like there is a never ending stream of liberals demonizing them for…well, there’s never really a good excuse for it. That’s because the terrible crime that the Left hates them so much for is being rich guys who give big money to conservative causes as opposed to the much more typical rich guys who give big money to liberal causes. That’s really all there is to it.
However, that’s not all there is to the Koch Brothers. Charles Koch wrote an outstanding piece for the Wall Street Journal that explained why they’re speaking out. The numbers in it will stun you.
Years of tremendous overspending by federal, state and local governments have brought us face-to-face with an economic crisis. Federal spending will total at least $3.8 trillion this year—double what it was 10 years ago. And unlike in 2001, when there was a small federal surplus, this year’s projected budget deficit is more than $1.6 trillion.
Several trillions more in debt have been accumulated by state and local governments. States are looking at a combined total of more than $130 billion in budget shortfalls this year. Next year, they will be in even worse shape as most so-called stimulus payments end.
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