It seems any time Mr. Obama speaks about the difficulty of the ongoing economic downturn, he manages to say something along the lines of ” my administration inherited this problem”. He usually manages to say it more than once in the speech, conversation or whatever.
Well, let him continue to say he inherited this mess (though it is tiresome and predictable) —but!–he ran for the job and spent hundreds of millions of dollars to win the job. So Mr. Obama: Shut the hell up and get on with doing your job!
He did inherit the problem–from a DEMOCRAT controlled Congress. The congress turned over in 2006. The last budget that the Republicans signed off on was for 2007. The deficit for that year was $160 million. A mere pittance by Obama’s standards.
You’ll notice from the charts that the problem with the growing deficit, hence the out of control debt, is the spending, not the revenue stream.
h/t: Doug Ross
We can’t, can not, no way, no how support or sustain this spending level. We have got to get rid of these clowns in Congress and the Administration who believe that we can spend our way out of this problem. Look at Europe! Greece is going up in flames. Spain, Portugal, Italy, Ireland–they’re next. What makes anyone believe that the USA is immune from reality?
This is not rocket surgery! If you spend more than you take in you have a deficit, which equals debt that has to be repaid eventually. That eventuality is coming on quickly. Obama has presided over the first bond rating downgrade in our history! Our bonds are rapidly becoming worth less, soon other countries are not going to finance our debt. Then what? “Turn out the lights, the party’s over”.
The major problem is the entitlement class that the politicians (both parties) keep cultivating. They are not going to vote out of office the
zombie rat bastard politician that keeps their check coming. And they are not going to vote for somebody that talks about cutting their government umbilical.
This may be (probably is) our last chance to start correcting this disaster: Vote out anyone who has been in office longer than one term! But especially vote out the whiny, narcissistic pretender in the Peoples House.
I’ll be in the bunker.