What happens when you spend money you don’t have? Everyone knows the answer to that question. But what happens when the government does it on an unprecedented scale? Sooner or later, all debts have to be repaid. The question is, who’s going to foot the bill? Economist Stephen Moore has the answer.
The U.S. national debt is massive – so massive that most Americans cannot comprehend it, much less solve it. But a crisis is looming, and a day of reckoning that will affect every American is coming. The Manhattan Institute’s Brian Riedl explains how we got here and what you can do about it.
Watching Barack Hussein Obama on the David Letterman Show was a surrealistic but revealing experience.
Surrealistic because Obama seemed far more at ease in a show-biz context than say, the West Wing. When I see Obama in the White H0use, or in the halls of Congress, the image is jarring. I mean, how the heck did a Marxist community agitator with a life-long affection for Jew-haters and third term abortions end up as POTUS?
Revealing because Barack Hussein Obama is a show biz president. A man of no discernible accomplishments in life, he slithered his way up the political ladder through thuggery, guile, and a heavy reliance on image-makers. Obama is trim and good looking, and when he beams his BIG SMILE, the audience — especially single women— feels the smile is just for them, a personal “hey, babe” from the Big Man on Campus.
Fifteen trillion dollars.
Today, the US National debt passed the fifteen trillion-dollar mark. That’s quite a record.
Welcome to the gates of hell.
If you want to see our—your debt—in action, here’s the US National debt clock live. I stared at it for about one minute and my head started to pound.
Interest on our debt represents about a third of the cost of Social Security. In about 20-years the interest will exceed the cost of that program.
You can confiscate the wealth of every millionaire and billionaire in America and the money wouldn’t even begin to make a dent in the national debt.
Taxes are not the answer. They are simply a ploy in Obama’s class war against the free market.
Another horrifying number: the US government is now gobbling up 40% of our GDP. This means that trillions of dollars from our economy are used merely to feed itself—a bloated series of interlocking, self-perpetuating bureaucracies.
Obama, like a petulant child, still blames George Bush. This is not just unseemly and immature, but a grotesque distortion of reality. Either Obama takes credit for his policies or he should step down, return to community organizing, and make room for adults to guide the economic policies of these United States.
It is clear that Obama suffers from Tourettes Syndrome. He has no ideas beyond tax and spend, policies that have encouraged a shrinking of the free market private sector—the source of prosperity—while encouraging the growth of government agencies that benefit no one, that no one wants, that no one needs; government jobs whose only purpose is to add voters to the Democrat plantation of paper-shufflers who drain our national resources and add nothing to the national prosperity.
Remember, the main goal of government bureaucracies is to infinitely expand their power base because that which does not grow inevitably contracts.
Post-modern Democrats have nothing in common with the likes of John F. Kennedy, Hubert Humphrey, Daniel Patrick Moynihan, or the great Henry “Scoop” Jackson.
Classic Liberalism is dead.
It has morphed—like the chest-bursting monster from Alien (1979)—into the Progressive movement, crypto-Socialism whose strategic goal is to gobble up freedom in the name of equality/social justice and progress beyond the Constitution into the benevolent slavery of a nanny state. The fruits of such economic policies are all to apparent in Greece, Portugal, Ireland, Italy and most every Western European state excluding Germany.
When the Children of Israel rebelled in the desert against G-d and Moses, they demanded a return to Egypt, to the good old days of slavery.
It is easier to be dependant on a slave master than to be master of your own fate.
That’s why the entire slave generation died in the desert before reaching the Land of Israel. They were not ready, not yet capable of being free. Their very presence would have compromised G-d’s plan for the Jewish people to settle the Land of Israel as a free nation.
Let us hope that America, even under the Orwellian distortions of the Obama administration, can distinguish and appreciate the benefits of freedom in contrast to the embrace of slavery.
Yesterday, my wife Karen sent the following e-mail to Speaker of the House John Boehner:
You have a unique opportunity to put a stop to President Obama’s unprecedented undermining of the legislative branch government of the United States that began with his nationalized health care. Please stand firm!
The country will not close down if a budget is not finalized on August 2. He is delaying so that he can claim a political victory.
Please act from the position of strength and go the distance. Put an end to undisciplined government spending. President Obama cannot be trusted. He will keep on spending and leading our country toward more czars, more doomed “stimulus” programs and more socialization and loss of individual freedom.
Karen S. Avrech, Ph.D.