February 16, 2011
During Barack Obama’s first two years in office, he and his Democrat controlled congress drove this nation from a whopping $10 Trillion in debt to over $14 Trillion in debt. A forty percent increase in national debt and almost none of the many ObamaCare federal spending mandates have even kicked into effect yet.
If we attempt to actually fund all of the Obama spending bills passed during unbridled Democrat reign in DC, the nation would end up more than $100 Trillion in debt over the next ten years.
To do that kind of mindless spending, you must have one heck of a sugar daddy. Yet, according to the latest reports, the good ole USA has just about run out of sugar daddies willing to keep funding this insanity, though that seems to have had no real impact on DC decision making.
Obama has proposed a $3.7 Trillion annual budget, roughly 26% of the entire US GDP. Obama proudly boasts that this budget is a reduction from his prior spending intentions, to the tune of about $1.1 Trillion over the next ten years, or about $100 Billion a year less than he would actually like to spend.
Republicans in the House are not much better, proposing only another $100 Billion a year in budget cuts, rejecting Obama’s budget on arrival in pursuit of that extra “savings.”
When Republicans and Obama reach their compromise, the annual budget will pass at or around $3.55 Trillion - give or take a few billion to cover Mrs. Obama’s upcoming vacations with friends and family.
Now, after all of the left and right spending cuts being proposed at present, the budget calls for yet another annual budget deficit of $1.65 Trillion… Let me be very clear here – After the proposed budget cuts, all of them, they are planning on spending $1.65 Trillion more in 2012 than they expect to take in – or add another $1.65 Trillion to the $15+ Trillion debt we will have at the end of 2011 – bringing our debt to above $16.65 Trillion by the end of 2012.
Republicans are fighting to cut that number to only $1.55 Trillion in deficit spending in 2012. Listen closely…. NOBODY plans on balancing the federal budget anytime soon, if ever.
But who’s our sugar daddy? Who is going to keep loaning our federal government money to run deficits as far as the eye can see?
“China, Russia, even the United Nations have suggested it is time to replace the U.S. dollar as the world reserve currency. On Thursday, CNN reported the IMF is now joining the bandwagon.”
What, our sugar daddies want to replace the US dollar as the world reserve currency? Why ever would they do that? Why have they lost confidence in the dollar?
“Apparently, with the current worldwide financial crisis, all of the bailouts and the high debt load that the U.S. is carrying, the leaders of many countries are losing confidence in the dollar and want to see something that is more globally oriented.”
So, our DC leaders, both Democrat and Republican, think that the best answer is to spend some more? Run that debt up to what? Based on today’s proposals, we will have to keep raising our debt ceiling to above $30 Trillion before 2020. Who wants to loan us that money?
How are they going to do it with no sugar daddy?
Even the president’s bi-partisan debt commission projects to continue deficit spending through the year 2035. But nobody is addressing the question of who is going to continuing loaning the USA that money and at what expense?
Some things never change – The borrower is always a slave to the lender. The federal government has been deficit spending for more than seventy-five years now, enslaving every American in those debt chains. Andrew Jackson was the last president to pay off the national debt and the federal budget has been balanced only once since then, by congressional Republicans during Bill Clinton’s second administration.
Democrat Woodrow Wilson is the grandfather of US deficit spending and Democrat FDR single handedly created the nanny state we have today. Democrat Jimmy Carter was world renowned as America’s worst president ever, until Barack Hussein Obama came along and made Jimmy Carter look like a frugal genius.
Now that social spending exceeds sixty percent of the federal budget, there is no denying that it is the socialism which is breaking our national piggy bank and Democrats are wholly responsible. But let’s face it -- Republicans are not serious about ending deficit spending and addressing the mountain of national debt either.
If you look at the presidents proposed 2012 budget, there are huge increases in every department where you find public sector unions. But with a sputtering economy and high unemployment expected to create record low tax revenue, the president whacks the Commerce (job creation) budget by forty percent. Despite projected food shortages, Obama is slashing farm subsidies. He’s taking care of his union buddies in transportation and education though…
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This is no time for political compromise. This is a time for serious leadership. Congress has no real choice but to slash federal spending, not by $100 Billion, but by the $1.65 Trillion projected deficit. They are out of time to balance the federal budget, because nearly every state is equally broke and we are fresh out of sugar daddies!
British Prime Minister Margaret Thatcher was right, socialism is a great idea until you run out of other people’s money – and Democrats have officially run out of other people’s money.
House Republicans must take the lead here…. Or we will all follow Obama right off the cliff!
� 2011 JB Williams - All Rights Reserved
JB Williams is a business man, a husband, a father, and a writer. A no nonsense commentator on American politics, American history, and American philosophy. He is published nationwide and in many countries around the world. He is also a Founder of Freedom Force USA and a staunch conservative actively engaged in returning the power to the right people in America.
Web site 1: www.freedomforce.us/
Web site 2: www.jb-williams.com/
E-Mail: [email protected]