ALG Statement on Announced $1.47 Trillion Deficit for 2010  July
23rd, 2010, Fairfax, VA—Americans for Limited Government
President Bill Wilson today issued the following statement in
response to the White House’s projection of a $1.47 trillion
budget deficit for 2010:  “The announced $1.47 trillion deficit
by the Obama Administration is just the latest insult to
American taxpayers, who during these stressful economic times
are scaling back their family budgets but watch helplessly as
government dramatically expands without paying for it. That
money will have to borrowed through Treasury auctions, and what
cannot be borrowed will simply be printed by the Federal
Reserve, which already holds $777 billion in U.S. treasuries.
“In the process, the government is chaining the American people,
and future generations, to a mountain of debt that cannot
possibly be paid back, and strangling any hope of growth or
economic recovery. The spending splurge is destroying hope of
Americans who don’t want more unemployment in