A billion here, a billion there, and pretty soon we’ll be talking real money. There was a time not so long ago when a million dollars of public debt would raise eyebrows and cause consternation.
We slipped past those innocent days in orgies of spending that degraded the value of a million dollars. Soon a billion dollars will get flushed down the same chute, and we’ll stop blinking in unbelief, even though many of us can’t wrap our brains around those kinds of numbers.
For government, racking up debt is accomplished with an efficiency that is exceptional—too bad it couldn’t display that exceptional efficiency in other areas. Squandering other people’s money is always far too easy.
Based upon a letter delivered to congressional leaders it’s evident that the printing presses in the basement of the White House are going to get fired up for another round of deficit spending.
President Obama has urged approval of nearly $50 billion in aid. The funds will be designated for state and local governments experiencing difficulties during this supposed economic recovery.
In the letter, Obama justified the request by claiming it was urgently required to avoid “massive layoffs of teachers, police and firefighters”. He also said that last year’s huge economic stimulus package restrained the economy’s free fall, while earnestly arguing that an influx of more money is unavoidable. “We must take these emergency measures,” he wrote, largely aiming the plea at members of his own party.
This latest appeal comes as more and more worry over the National Debt is stirred up. Individuals are becoming deeply concerned by the rapid escalations that occur with a seeming ease.
The most recent information from the Treasury Department is that the deficit has increased over two trillion since Mr. Obama took office. It now stands at $12.6 trillion. This administration has created two trillion in debt in a mere eighteen months, with no hesitancy or any end to the record breaking deficits in sight.
A trillion here, a trillion there, and pretty soon. . .
The Blame Bush contingency remains alive and well. President Obama and his apologists constantly say he inherited a mess, which may be true, but take a quick look at history—there were no surprises on the doorstep when Obama walked into the Oval Office.
A replay of the videotape reveals that Candidate Obama had a solution to fix every problem—he clearly outlined each issue and had a blueprint plan to answer every question and solve all the troubles. It is long past time to silence the Blame Bush crowd, take responsibility, and demonstrate this messianic leadership that the mainstream press was infatuated by during the campaign.
Of course, President Obama doesn’t possess those transcendent qualities that were packaged and sold to the American public, does he? He is just another run of the mill politician scrambling to satisfy his base and keep his poll numbers steady or better yet, on the rise. To do so is a balancing act that has him continuing the deficit spending spree without regard to common sense economics.
The Obama Administration claims that all they can do is attempt to slow the National Debt’s rate of increase. Yet there is no indication that putting the brakes on the expansion of red ink is going to happen any time soon—crunching their numbers results in a rather dismal forecast.
The 2011 federal budget calculates that the National Debt will reach $25 trillion by 2020. It ought to frighten us into reality to consider that, according to this administration’s projections, as early as 2012 the total debt will amount to 100 percent of the national economy.
Sirens should be sounding—alarm bells ringing with such intensity that it’d be impossible to ignore the noise. Instead, President Obama expects another $50 billion. How is that even possible?
The cliché that we are mortgaging our children's and grandchildren’s future needs to be updated to include several more generations.
A billion here, a billion there swiftly becomes a trillion here, a trillion there, yet we remain on a collision course with an economic collapse. Sooner or later payment will be due, and when that occurs, no amount of deficit spending will satisfy the bill collector.
Is there no voice of reason or restraint in this administration?