Obama can't afford to be the president that defaults on
paying America's debt..Think of what it would do to "The One's"
legacy in history. CALL IT...
Congress and
Obama are here today to debate raising America’s debt limit is a sign of
leadership failure in Obama's own words. It is a sign that the U.S. Government cannot
pay its own bills. It is a sign that we now depend on borrowing 4 cents on
every dollar of debt from foreign countries to finance our government’s uncontrollable
spending policies. 807 Days that's over 2 years: Senate Democrats Have
Not Passed A Budget Since April 29, 2009. (S. Con. Res. 13, Roll
Call 173;
D 53-3, R 0-40, I 2-0, 4/29/09)
Obama's quote on raising the debt ceiling...
·
“Increasing
America ’s debt weakens us domestically and internationally. Leadership means
that ‘the buck stops here.’ Instead, Washington is shifting the burden of bad
choices today onto the backs of our children and grandchildren. America has a
debt problem and a failure of leadership. Americans deserve better.” – U.S. Sen.
Barack H. Obama, March 2006
Obama
Added More to National Debt in First 19 Months Than All Presidents from
Washington Through Reagan Combined, Says Government Data
·
In the first 19 months of the
Obama administration, the federal debt held by the public increased by $2.5260
trillion, which is more than the cumulative total of the national debt held by
the public that was amassed by all U.S. presidents from George Washington
through Ronald Reagan. http://www.cbo.gov/ftpdocs/112xx/doc11280/Chapter1.shtml
·
The first two
fiscal years in which Obama has served will see the two biggest federal
deficits as a percentage of Gross Domestic Product since the end of World War
II.
The Congressional Budget
Office (CBO), a nonpartisan budget agency. New budget estimates predict the
government’s deficit will reach almost $1.5 trillion in 2011, surpassing the
last record of $1.4 trillion set in 2009.
Under the Obama
administration spending has been skyrocketing at an all time high. The latest
figures reflect an outsized bill for significant outlays as part of government
bailouts and stimulus spending. Obama continues to push for another stimulus
and more spending, His set in concrete I need more tax dollars only means his
spending will remain out of control.
A day after President’s
State of the Union address, new figures urging
a debate that is growing that Congress is
over spending. Using the bully pulpit and Chicago style mafia threats the President
is insisting along Treasury Secretary Tim Geithner the $14.3 trillion cap on the deficit set by
law needs to be raised, or seniors won't get their checks and disabled veterans
won't get their checks. The big disagreement on where any spending cuts should
be made and how much. Republicans want cuts without raising taxes. Obama
continues to talk about increased revenues another term for raising taxes.
The CBO analysis
predicts the economy will grow by 3.1 percent this year, but that joblessness
will remain above 9 percent. Some states don’t expect to see unemployment fall
below 10% in 2011. The CBO estimates a nationwide unemployment rate of 8.2
percent on Election Day in 2012. Chances are at the rate the Obama
administration is allowing the economy to remain in a chaotic state
unemployment will remain above 9.2%.
Unless a leader is
elected that knows the basic 101 about money management and government's rolein job creation America is on a slippery slope going downhill. That's my storyand sticking with it. be ###
