Posted on 04/05/2010 7:36:56 AM PDT by SmithL
Washington -- Health care may have been the last big bang of the Obama presidency.
With ferocious speed, the financial crisis, recession and efforts to combat the recession have swung the U.S. debt from worrisome to ruinous, promising to handcuff the administration.
Lost amid last month's passage of the new health care law, the Congressional Budget Office issued a report showing that within this decade, President Obama's own budget sends the U.S. government to a potential tipping point where the debt reaches 90 percent of gross domestic product.
(Excerpt) Read more at sfgate.com ...
These levels of spending are nothing short of willful treason.
Just a week ago, you, me and the other guy owed $113K in taxes FOR THIS FISCAL YEAR ALONE to cover our debts. This week, we all owe $116K.
Great job so far, Bammy! I’d better get to work and find a way to earn another $3K this week so you can STEAL it from me and our future. Grrrrr!
I too believe this is all by design...and yes, I was bitchin’ about our national debt when a Republican was in office, too.
NO WAY! Obama is in control. The MSM tells me it’s all blue skies and to think otherwise is racist.
Spending is a two pronged monster. It is both domestic and defense.
Remember, we didn’t drive the Soviet Union to collapse because of their domestic spending. We drove them to collapse because we forced them to keep their military budget at a level that they couldn’t sustain, that sucked their economy dry and so they collapsed.
If you’re going to fight wars then you’ll have to pay for it. I love tax cuts. I hate taxes. I will say right now Bush’s biggest mistake was cutting taxes while we were at war. There is a time and place for tax cuts. War is not that time. And before you attack me just consider how this country responded to WWI and II vs the current one. In both cases people were asked to sacrifice and they did. They felt a part of the war effort. As a result, you didn’t have people protesting either war. Bush never asked the American people to sacrifice.
If it was really all that important then he should have told the American people that there would be sacrifices and that we would be paying for it either through drastic service and employment cuts from the federal government or through measures to sustain revenue to fight the war.
Hell, even asking the American people to buy government bonds would have helped alleviate the situation but he didn’t even do that.
“Bush never asked the American people to sacrifice.”
I remember thinking the same thing. I wanted him to ask us for sacrifice to make it seem we were all in this together.
Please people, get yourself out of debt. Otherwise, you're enslaved by the lender.
(Don't worry about paying the bills for others. They've never been your responsibility anyway.)
NOW all of the sudden the dinosaur media is concerned about the deficit/debt. Well, they got the socialist takeover of the health care system, so what the hell, may as well try again to appear legitimate.
Actually, since debtors are part of a large constituency, the creditor is a slave to the debtor. In other words, the frugal and the productive are slaves to the wasteful and sloths. Vote for me... I'll wipe out all of your debts (including the government debt) with inflation!
This is why Krauthammer is right: the way for the GOP/TEA to take back this government is to wrap EVERYTHING into the unsustainability of Obambi's spending. The way to get rid of Obambicare is first and foremost to educate people on how it is going to literally bankrupt this country and destroy it.
I see a declining global role for the US and a reduction in defense spending. Unfortunately, we will not have the luxury of someone else picking up the bill like Europe did, i.e., the US provided the security umbrella to allow them to increase the social welfare state.
How can we not worry about paying the bills for others? That’s all we’re doing under this Administration — being ordered to spread the wealth like good little comrades.
Krauthammer agrees with this ruinous Fed policy which is allowing the government to bankrupt this country.
.
Anything to hurt America.
I wish. But I think it's much more sinister than that. Now that they've got the socialist takeover of health care, they have to start yammering about how bad the debt is and, therefore, how the guvmint MUST take even more stringent, bold and PROGRESSIVE measures to control that NUMBER ONE money hole, healthcare costs.
IOW, this is just the next phase of the LSM set-up to start banging the drum for single payer. When that doesn't work, the next phase will be onward ever farther toward true Communism.
This is why socialism is so dangerous. As resources become too scarce to fund the socialist programs, the Powers That Be are faced with only two choices: (1) put down the civil unrest, including potential overthrow of their personal pwoer, that occurs when "benefits" can no longer be paid, or (2) brutally take complete control of resources AND, shall we say, find ways to eliminate millions of mouths to feed.
In a way, while we must point out how Obamacare is going to fail, we have to be very aware that this very failure will be used by the Progs to push for even more Marxism.
In 1950 there were 16 workers for every retiree. Today there are 3.3, and by 2030 there will be two. By 2030, the number of Americans over 65 will be one in five, which is twice what it is today. Americans have been living beyond their means for decades.
And then there is immigration. We are importing 1.2 million legal immigrants a year, most of them poor and uneducated. 53% of immigrant headed households are on welfare. As Milton Friedman said, "You cannot simultaneously have free immigration and a welfare state.” We have both.
Many productive people have gotten suckered into the debt trap too. Not to mention many people who never took out debts that couldn’t sustain will see their mortgages go underwater too as overall real estate prices decrease.
My career was spent in finance and commercial real estate. One of the reasons I left the industry when I did is I knew it was coming. I didn’t know when but I knew California had begun its collapse by late 2006. I got out in time. Many people didn’t
It was the system itself that was sick and the problem is that all of America’s economic energy got tangled up with the investments. That’s why it albatrossed our economy. You may not like inflation. I don’t. I stand to lose a very large nest egg with high inflation. But that high inflation may be necessary to keep the country from collapsing.
Trade ya:
Krauthammer: GOP Can Win Big in Fall by Making "Coherent Case" vs. Obama's Massive Debt - Video
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