The politicians did not all come from the same pool, they came from the same sewer.Clips:
Barack Obama wins standing ovations from liberal Democrats by pledging to double foreign aid. Thus, under President Obama, the U.S. government will borrow from China and Japan $50 billion each year to subsidize regimes in Africa, putting our kids in hock forever, so we can feel good about ourselves.
"Social Security, Medicare and Medicaid ... already exceed 40 percent of the $2.7 trillion federal budget. By 2030, their share could hit 75 percent of the present budget," writes columnist Robert Samuelson. "To keep federal spending stable as a share of the economy would mean eliminating all defense spending and most other domestic programs. ... To balance the budget with existing programs at their present economic shares would require ... tax increases of 30 percent to 50 percent -- or budget deficits could quadruple."
We are bust. We consume all we earn. We save nothing. We borrow $2 billion a day to finance our trade deficit and buy all those goods and gadgets at the mall. The Chinese save between 35 percent and 50 percent of all they earn.
Though dependent on OPEC for 60 percent of our oil, we haven't built a refinery or a nuclear power plant in more than 25 years, and we are not permitted to drill in much of Alaska or off California or Florida. We don't build dams anymore, like Hoover and Grand Coulee, we tear them down. We were once the greatest road-builders since Rome, as Ike's Interstate Highway System was built in two decades, not two centuries.
Columbus Townhall > Forum > Politics > National > Economy, Budget and Fiscal Issues (Moderators: Peter, CTH Public Relations)
Topic: National Debt Clocks and Savings Clocks
