It was all the rage in the late 90′s and early 2000′s for Democrats to point to the fact that President Clinton (and the Republican Congress) had, in theory, balanced the budget. They liked painting themselves as fiscally-minded. Welcome to the Obama years when taxing and spending returned to the Democrat Party.
President Obama has yet to pass a budget as president and because of that fact, our outrageous spending continues to grow. The CBO projects yet another year of the government spending far more than it takes in, this year to the tune of $1.1 trillion. That means a bigger national debt and crushing defeat for future generations of Americans who will make the interest payments on our out-of-control spending.
That isn’t all. As part of the deal to raise the national debt ceiling, Congress instituted a series of automatic spending cuts that would take place if they couldn’t get their act together to pass a real plan. They never got together, there is no plan. Those cuts will hit our military and put an end to Bush era tax rates. The CBO now predicts that if that happens in 2013 our nation will head into recession and see a contracting of GDP and rise in unemployment. Essentially a “fiscal cliff.” The automatic cuts were supposed to be so undesirable for everyone that they would force Congress into action. That hasn’t happened.
Elected Democrats and Republicans have both failed our nation. While I want to place all the blame on President Obama, it is hard to ignore that elected Republicans have far too often joined in on the horrific spending and government financial schemes that have lead our nation to bankruptcy and could soon lead us to underfunding our military and instituting a rise in taxes.
Our best hope is electing enough Republicans as possible, hoping enough of them have either learned their lesson or come in knowing better than those elected before them. It isn’t the greatest option, but it is all we have. If we face another Obama presidency and either a Democrat controlled Congress or a stalemate, we face financial ruin.
Related posts:
House Democrats Propose Adding $6 Trillion in New Debt
The President Who Cried Wolf on the Debt Ceiling, Asking for $1.2 Trillion More
Bill Clinton Has a Plan for The Economy, Do Nothing & Hope It Works
Obama wants paygo AFTER spending a trillion & not for health care
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