Damaging American Competitiveness

As we're learning jobs aren't being created where they're most needed, a video on the latest job-killing Obama tax idea from the libertarian Cato Institute: Oh, and this-- White House: No job growth for rest of the year, plus the government is borrowing 46 cents for every dollar it spends. This is unsustainable and irresponsible.

So tell me again why our President Barack Obama pushed for the porkulus package? Oh, yeah.

More: Brian Riedl, Heritage, NRO:

The White House raised the 2009 budget deficit projection to a staggering $1.8 trillion today. For context, it took President Bush more than seven years to accumulate $1.8 trillion in debt. It also means that 45 cents of every dollar Washington spends this year will be borrowed.

President Obama continues to distance himself from this "inherited" budget deficit. But the day he was inaugurated, the 2009 deficit was forecast at $1.2 trillion — meaning $600 billion has already been added during his four-month presidency (an amount that, by itself, would exceed all 2001-07 annual budget deficits). And should the president really be allowed to distance himself from the $1.2 trillion "inherited" portion of the deficit, given that as a senator he supported nearly all policies and bailouts that created it?

Deficits as far as the eye can see.