The solution to the excess spending that ‘got us into this mess’ in Obama’s words is–more excess spending on programs that will cost EVEN MORE in the future! He will DOUBLE the DEBT in the next 10 years that took from our founding to get to $8 trillion dollars. He’ll DOUBLE IT.
Listen, folks, we’ve got to pay debt service on that. That takes a chunk of our GDP. That’s money that could be used by us PRIVATELY. Obama worsens the situation with all the bail outs and then says he wants to take over businesses BEFORE they get into trouble. Do you know what really needs to happen to make sure businesses don’t get to that point? Don’t let the government bail them out. Don’t let the government force them into stupid economics tricks to give mortgages to people who can’t afford them. They weren’t doing that until GOVERNMENT told them to do it! Heritage has a sobering take on this situation here. Here’s a quick hit:
Obama’s massive spending explosion will do nothing to create economic growth, but it will grow our federal deficit. Again, last night, President Barack Obama claimed that his budget would cut the deficit by half by the end of his term. But as Heritage analyst Brian Riedl has pointed out, given that Obama has already helped quadruple the deficit with his stimulus package, pledging to halve it by 2013 is hardly ambitious.
Finishing his opening remarks last night, Obama said: “At the end of the day, the best way to bring our deficit down in the long run is not with a budget that continues the very same policies that have led us to a narrow prosperity and massive debt. It’s with a budget that leads to broad economic growth by moving from an era of borrow and spend to one where we save and invest.” There is no saving in Obama’s budget. Only an acceleration of the borrow and spend policies that got us where we are today.
Doubling the debt, quadrupling the deficit. This is fiscal responsibility? Where are those leftist deficit hawks who were squawking during G-4-3’s presidency? They’re now saying this plan is fiscally responsible. Did I miss something? Is crack now being served in the congressional dining hall or something?
As Ronald Reagan said of the recession at his inaugural in 1981, “in the present crisis, government isn’t the solution, it’s the problem.” He was right then and he’s right now.