Liberty on Tap since 1984
After a knock-out fight about six months ago over raising the debt limit, this nation was within its $100 billion of exhausting its current borrowing authority with its current $15.2 trillion cap on December 30 of last year.
Although President Obama had been ready to ask for another $1.2 trillion increase in the nation's debt on December 30th date, evidently the urgency to increase the nation's debt didn't rise to the statue of a catastrophic situation in Obama's mind, agreeing as Obama did to a postponement of his request when a bi-partisan group of lawmakers asked Obama to delay his request so they would be in session during the15-day period when members can voice their objections.
It is a given that many Republicans will voice their disapproval of yet another increase in the amount government can borrow to finance its operations; Democrats will unquestionably vote for an increase in the nation's debt by $1.2 trillion; and Obama will disregard and veto any objections cited to raising the debt limit.
In the interim, principled Republicans will rail against the debt limit increase -- which will further increase the nation's already record deficit -- and will once again be painted and blamed by President Obama and Democrats as irresponsible in wanting to shut down the government, ultimately caving in to outside and internal pressure.
Republicans have every reason to object to raising this nation's debt ceiling from $15.2 trillion to $16.4 trillion. Coincidentally, the supercommittee launched at the time of last summer's debt deal and tasked to find at least $1.2 trillion in cuts, failed to do so last November. $1.2 trillion, the minimum amount the committee was asked to cut spending by, is the same amount President Obama is requesting of Congress.
The national debt has soared because those in charge of government have run record annual deficits over the past decade. Consider these figures:
* George W. Bush spent $4 trillion over eight years; Obama spent $6 trillion over three years.
* The debt was 5 trillion when Bush took office and he added four trillion more; Obama added six trillion more to the national debt which now stands stands at 15.2 trillion.
* Cuts of a measly $7 billion were made in 2011, but this is as much as this nation borrows in a day and a half!
No one can save America if America goes under. This nation is experiencing what could be described as terminal cancer. Borrowing 36 cents of every dollar spent can't continue. More debt will only lead to higher taxes, run away inflation, and the decimation of defense.
The dilemma: 67% of the American people receive some form of government subsidy. Many Americans are so used to having the government feather their falls that they will vote for the political party who promises to continue to act their nanny or care taker.
And why should our legislators really give a darn if they are spending this nation into the ground. After all, they will not be around when this nation goes under or when future generation must suffer because present day legislators chose to retain their positions of power through their Santa Claus-like goody bags to greedy Americans, who through their entitlement mentality, refused to sacrifice so those Americans yet unborn would not be burdened with taxes, incomprehensible debt, and a reduced standard of living.
Just what will happen when the debt ceiling must be raised to $18 billion and then up to $23 billion to keep this nation from going under? Might we conclude that when this happens our nation will already be on the point of no return? And this will happen unless a leader is elected in November who will start to reign in and reduce government with its out-of-control spending.
This nation needs a leader, who like Chancellor Angela Merkel of Germany, was honest in informing her citizens about Germany's state of economy and what had to be done to keep Germany from falling over the cliff. In her New Year's television speech Merkel spoke of turbulence with set backs in 2012, in a year that will be more difficult than 2011, as she does everything possible to save the euro and end Europe's sovereign debt crisis http://www.telegraph.co.uk/finance/financialcrisis/8986986/Eurozone-debt-crisis-leaders-warn-of-dangers-facing-economy-in-2012.html
Recently I received an e-mail titled: "The power of adding O's to the amount of money one deals with." It's contained powerful visual and written messages that the American people need to see. Far too many Americans treat a trillion as just a figure with no understanding of what a trillion represents in terms of spending. http://usdebt.kleptocracy.us/
Just what is a trillion ($1,000,000,000,000 or a million million dollars)?: When the U.S. government speaks about a $1.7 trillion deficit, this is the volumes of cash the U.S. government borrowed in 2010 to run itself. If the government spent $1 million a day since Jesus was born, it would have not spent $1 trillion by now but only $700 billion, the same amount the banks received during bailout!
Now consider what it means for President Obama to request that this nation's debt ceiling be raised from $15.2 trillion to $16.4 trillion. Even my eyes glaze over at the magnitude of the money involved!
I have yet to hear any of the Republican candidates talk about this nation's deficit in terms of what can be easily understand by the American people. Perhaps it is because they too are committed to big spending, knowing that a goody bag filled with perks for their voters will keep them in power?
I certainly hope this is not the case, or this election will do nothing to keep this once great and prosperous country from sliding into and joining other third world status nation.