Yes, We Really Are That Far in Debt

By Caomhin

It’s something that many of us have long warned.  The runaway national debt is going to do irreparable harm to our nation if it is not put under control.  With the power structure the way it is, with Liberals in charge of our finances, there is no chance of that occurring.  Almost every week they are proposing monstrous spending programs that are accelerating the expansion of the national debt.  For those of you who still do not see the nation debt figures as being completely unsustainable and dangerous to our nation, this is an absolute must-read:

Democrats in control of Congress, including then-Sen. Obama (Ill.), blasted President George W. Bush for failing to contain spending when he oversaw increased deficits and raised the debt ceiling.

“Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren,” Obama said in a 2006 floor speech that preceded a Senate vote to extend the debt limit. “America has a debt problem and a failure of leadership.”

Obama later joined his Democratic colleagues in voting en bloc against raising the debt increase.

Now Obama is asking Congress to raise the debt ceiling, something lawmakers are almost certain to do despite misgivings about the federal debt. The ceiling already has been hiked three times in the past two years, and the House took action earlier this year to raise the ceiling to $13 trillion.

Congress has little choice. Failing to raise the cap could lead the nation to default in mid-October, when the debt is expected to exceed its limit, Treasury Secretary Timothy Geithner has said. In August, Geithner asked Senate Majority Leader Harry Reid (D-Nev.) to increase the debt limit as soon as possible.

I’ve highlighted the first part to illustrate Obama’s sheer hypocrisy on the issue.  I’d have much more respect for him if he would have been serious about reducing the national deficit and working on ways to reduce our debt levels without raising taxes.  Yet, as is most things with him, it was simply a political ploy.  The fact that there are warnings going out about the United States going into default and Obama is seeking not only to increase the cap to meet current obligations, but is still proposing to nationalize the health care system, is shocking on so many levels.

I’ll say it again, they are worried about the United States defaulting on its debt.  That view alone should be alarming to every citizen and, one would hope, every single member of Congress who should understand the gravity of the situation.  Sadly, that is not the case.   The CBO has repeatedly blasted the Liberal proposal for a government take over of health care for the immense debt that it will add to our nation over the long term.  The arguments against health care are plenty and range from a decrease in the quality and supply of care, to the moral risks of putting bureaucrats in charge of making health care decisions for you rather than making the decisions for yourself.  That is not my point here, however.

It is seemingly unbelievable that as even Obama’s Treasury Secretary is sounding alarm bells about our nation going into default that the liberals are rushing through numerous pieces of legislation that will add to our debt significantly.  Precisely the opposite approach should be pursued at this time.  Obama spent added nearly $1 trillion in debt with his failed stimulus plan that I have repeatedly stated would only do harm in the long term while slowing the self corrections of the free market, thereby prolonging the depression (and yes, we are in a depression, we have seen more than enough quarters of negative GDP numbers to warrant calling it as such) while threatening to end the coming recovery prematurely when Obama and the Democrats raise taxes, which I will guarantee you they will do.  Either simply by letting the Bush Tax Cuts that every American enjoys, or by going even further and raising rates well above 2000 tax year rates.  They can not even fathom cutting spending and find it morally objectionable to live within our nation’s means.  It is inexcusable and unforgivable that politicians have kneecapped the long term economic security of every man, woman, and child in our nation.


1 Response to “Yes, We Really Are That Far in Debt”

  1. 1 БaKиHeЦ December 27, 2009 at 7:06 pm

    Кстати, я сейчас посмотрел, ваш блог в Google хорошие места занимает ,если название сайта в поиск вбить.

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