Here’s a little reminder of Barack Obama’s spending record:
Trillion dollar deficits from here to eternity…
(J. Hoft Chart)
$5 trillion to national debt in a little over 3 years.
A new world record.
(Heritage)
Soon to be $6 trillion.
So is it really that surprising that the Obama Campaign overspent and is borrowing from Bank of America?
The Washington Free Beacon reported:
Obama For America took out a $15 million loan from Bank of America last month, according to the campaign’s October monthly FEC report. The loan was incurred on September 4 and is due November 14, eight days after the election. OFA received an interest rate of 2.5% plus the current Libor rate.
Warren Buffett, Obama donor and namesake of the infamous “Buffett Rule,” invested $5 billion in Bank of America last year in an effort to help the ailing financial institution. Last month, two weeks after OFA took out the loan, Bank of America announced a plan that would lay off 16,000 workers by the end of the year.
More… Via Glenn Reynolds: RNC TROUNCES DNC IN FUNDRAISING AS DEMOCRAT PARTY GOES ‘BANKRUPT:’ “Somehow, this seems an apt metaphor for the Obama era,” Stacy McCain writes.
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