Obama

Obama punishes Americans with another trillion-dollar deficit (four in a row)

Friday, August 31, 2012 by: J. D. Heyes
Tags: Obama, deficits, government spending

eTrust Pro Certified

Delicious Pin It
(NaturalNews) As a presidential candidate in 2008, Sen. Barack Obama characterized outgoing-President George W. Bush as "unpatriotic" for adding $4 trillion to the national debt during his eight-year tenure.

In a campaign speech to supporters July 3, Obama said:

"The problem is, is that the way Bush has done it over the last eight years is to take out a credit card from the Bank of China in the name of our children, driving up our national debt from $5 trillion for the first 42 presidents - number 43 added $4 trillion by his lonesome, so that we now have over $9 trillion of debt that we are going to have to pay back - $30,000 for every man, woman and child. That's irresponsible. It's unpatriotic."

"Hope" and "change" were Obama's campaign themes, not "more of the same." It won him the White House.

What a difference four years make.

To be sure, $4 trillion is a lot of debt, and the president, as a candidate, was right to point out the obvious - if the current generation of voters and lawmakers fail to do the responsible thing and begin working together to pay it off, we will saddle our children with it, and sentence them - and their children - to a life of less freedom and fewer opportunities.

It's just too bad he didn't take his own rhetoric to heart.

Hypocrisy, sure, but that's beside the point

Under Obama's watch, the U.S. has added nearly $5 trillion in new debt over the course of about three-and-a-half years - a single term - while Bush's debt was spread out over two terms, making Obama's the largest accumulation of new debt over the shortest amount of time in the history of the country. Moreover, this year's budget adds another $1.1 trillion, making it the fourth year in a row the government has run a $1 trillion-plus deficit.

The strategy from the White House and Democratic talking heads has been to dodge responsibility and lay all of it at Bush's feet, arguing that the recession they inherited was "worse than we thought." But the recession, we are told, ended in 2009, and Obama's efforts since to restart the country's economic engine have fallen flat; his stimulus packages and other economic incentives have not only failed to substantially reduce the unemployment rate, but they have also done virtually nothing to stimulate economic growth, which remains anemic at two percent a year or less. The little growth that has occurred in the economy has literally come in spite of Obama.

What's more, the president has "owned" three of the last four fiscal years, making his policies, not Bush's, the driving factor behind the debt increases which have occurred on his watch. If Bush has to own up, Obama has to own up.

So, does that make him "unpatriotic" as well?

Honestly, who cares? The characterization was political theater when Obama said it, and it's political theater now.

Time is literally running out

The point is we have a debt problem, ladies and gentlemen of Congress, and it is imperative, regardless of which party you belong to, that you solve the problem and stop adding to it.

That will require reviving the lost art of statesmanship and putting the country before your own political careers.

Reducing the dialogue to pointless and inane trivialities will not address what is coming: $16 trillion in overall debt by Election Day, maybe another $5 trillion by 2016 if nothing changes, thereby creating, according to the Congressional Budget Office, a fiscal situation that is simply not sustainable.

"The key issue facing policymakers is not whether to reduce budget deficits," says Doug Elmendorf, director of the CBO. "The question is when. The question is how."

Options are few, he says, and none of them are going to be palatable, either to the politicians who must come together and decide on a course of action or to a sizable and growing portion of the American public , whom many of those same lawmakers have turned into a dependency class in order to buy their votes.

"Now, Congress and Mr. Obama are grappling with 2013 and beyond, and CBO said their options range from immediate belt-tightening and a double-dip recession that clears the economic and fiscal air, to continuing to pump money into the economy and delay, but likely worsen, an eventual reckoning," The Washington Times reported.

Our "leaders" have painted the nation into an economic corner, Elmendorf notes.

"At some point, we will need to adopt policies that require people to pay significantly more in taxes, accept substantially less in government benefits and services, or both," he said.

And with each new deficit, the problem grows larger, while the options fewer.

The debt clock is ticking. Like a time bomb.

Sources:

http://www.washingtontimes.com

http://www.commentarymagazine.com

http://www.usdebtclock.org/

Get breaking news alerts on GMOs, fluoride, superfoods, natural cures and more...
Join over four million monthly readers. Email privacy 100% protected. Unsubscribe at any time.


Have comments on this article? Post them here:

comments powered by Disqus

Take Action: Support NaturalNews.com

Email this article to a friend

Permalink to this article:

Reprinting this article: Non-commercial use OK, cite NaturalNews.com with clickable link.

Embed article link: (copy HTML code below):
Most Popular
Today | Week | Month | Year

See all Top Headlines...



GET SHOW DETAILS
+ a FREE GIFT

Now Available at ShopNaturalNews.com

O3 Essentials OraJuvenate™
A powerful, cleansing dental cream for maximum oral/dental health.
New Cancer Solutions
Over 3 hours of content covering today’s best cancer tests, how to kill cancer cells and the best diets and exercise routines.
Freeze-Dried 100% Organic Whole Corn
Our freeze-drying method preserves taste, texture and nutrients better than any other food preservation method ever invented.
Fenix TK35 Flashlight
Tough, waterproof, extremely bright and it’s touted to throw an 800+ lumen beam more than 1,000 feet into the night.
Inca Treasure Smoothie Pack
This pack of our four most popular superfoods from South America is the perfect combo pack for smoothie lovers.
Pink Himalayan Salt
This salt delivers significant levels of magnesium, zinc and selenium, with trace levels of dozens of other elements.
Pinhole Glasses - Aviator Style
Pinhole glasses are becoming famous for helping people improve their vision without the risks of laser surgery.
Oxy-Rich Facial Serum
O3 Essentials Jojoba Oxy-Rich Facial Serum is cellular nourishment for your skin. Helps smooth fine lines while enhancing tissue elasticity.
Freeze-Dried 100% Blackberry Halves
Our freeze-dried blackberry halves are grown in Serbia under strict organic standards.

Also on NaturalNews:

Health Ranger Videos
Activist music
CounterThink Cartoons
Food documentaries
FREE Special Reports
Podcasts
Colloidal Silver

Advertise with NaturalNews...

Support NaturalNews Sponsors:

Advertise with NaturalNews...

Most Popular Stories

Flu shot kills 19-year-old, but vaccine industry still has total immunity against lawsuits
Here's a nutty fact: Eating more tree nuts lowers the risk of all-cause death by up to 20 percent
Six important facts you're not being told about lost Malaysia Airlines Flight 370
Malaysia Airlines Flight 370 now clearly a government cover-up: All evidence contradicts official story
10 other companies that use the same Subway yoga mat chemical in their buns
BLM fracking racket exposed! Armed siege and cattle theft from Bundy ranch really about fracking leases
High-dose vitamin C injections shown to annihilate cancer
U.S. treating meat with ammonia, bleach and antibiotics to kill the '24-hour sickness'
USDA to allow U.S. to be overrun with contaminated chicken from China
Vaccine fraud exposed: Measles and mumps making a huge comeback because vaccines are designed to fail, say Merck virologists
Battle for humanity nearly lost: global food supply deliberately engineered to end life, not nourish it
Diet soda, aspartame linked to premature deaths in women

25 Amazing Facts About Food

This FREE downloadable report unveils a collection of astonishing and little-known facts about the food we eat very day. Click here to read it now...

 

Resveratrol and its Effects on Human Health and Longevity - Myth or Miracle.

Unlock the secrets of cellular health with the "miracle" nutrient Resveratrol Click here to read it now...

 

Nutrition Can Save America

FREE online report shows how we can save America through a nutrition health care revolution. "Eating healthy is patriotic!" Click here to read it now...

The Healing Power of Sunlight and Vitamin D

In this exclusive interview, Dr. Michael Holick reveals fascinating facts on how vitamin D is created and used in the human body to ward off chronic diseases like cancer, osteoporosis, mental disorders and more. Click here to read it now...

Vaccines: Get the Full Story

The International Medical Council on Vaccination has released, exclusively through NaturalNews.com, a groundbreaking document containing the signatures of physicians, brain surgeons and professors, all of which have signed on to a document stating that vaccines pose a significant risk of harm to the health of children. Click here to read it now...

Health Ranger Storable Organics

GMO-free, chemical-free foods and superfoods for long-term storage and preparedness. See selection at www.StorableOrganics.com



Recommended Resources On:

Natural News trends
Health Ranger news
Natural News GMOs
Mike Adams tracker
Natural News photos
Natural News Global
Natural News in focus
Natural News connect
Natural News shocking stories
Natural News radar
GMOs
Quackwatch
Vaccines
Health freedom
Dr. Paul Offit

This site is part of the Natural News Network © 2014 All Rights Reserved. Privacy | Terms All content posted on this site is commentary or opinion and is protected under Free Speech. Truth Publishing International, LTD. is not responsible for content written by contributing authors. The information on this site is provided for educational and entertainment purposes only. It is not intended as a substitute for professional advice of any kind. Truth Publishing assumes no responsibility for the use or misuse of this material. Your use of this website indicates your agreement to these terms and those published here. All trademarks, registered trademarks and servicemarks mentioned on this site are the property of their respective owners.

eTrust Pro Certified Android app on Google Play

Sign up for the FREE Natural News Email Newsletter

Receive breaking news on GMOs, vaccines, fluoride, radiation protection, natural cures, food safety alerts and interviews with the world's top experts on natural health and more.

Join over 7 million monthly readers of NaturalNews.com, the internet's No. 1 natural health news site. (Source: Alexa.com)

Your email address *

Please enter the code you see above*

No Thanks

Already have it and love it!

Natural News supports and helps fund these organizations:

* Required. Once you click submit, we will send you an email asking you to confirm your free registration. Your privacy is assured and your information is kept confidential. You may unsubscribe at anytime.