When Obama took office in 2009, the federal debt was $10.5 trillion. By the end of this year, the debt will be $17 trillion. By the end of his term, it could be $20 trillion. The feds print money at a record rate. That means the dollars we already have are being devalued as the market's flooded with currency, artificially, trying to prop up the American economy. This is economic madness!
Liberal America is defending the insanity because they don't want to criticize their standard bearer Barack Obama. Here is more damning evidence. Back in 2010 the President's own debt commission Simpson-Bowles urged him to begin significant cuts in federal spending. Mr. Obama ignored his own commission.
Last month Alan Simpson and Erskine Bowles came back again warning the nation that bankruptcy is looming and proposing new scenarios that would cut the deficit by more than $2 trillion over 10 years, seems reasonable. Again, silence from Obama. Correction, not silence. More calls for tax hikes.
The USA already has the highest corporate tax in the world. Do you think that helps our economy? Do you? And this year the feds are projected to get the highest amount of income tax revenue in history. And yet Obama wants more, more money flowing to Washington and no spending cuts.
And yet there is another problem. Because the right-wing has demonized Barack Obama so much, many independent Americans are tuning out. They are numb to criticism about the President. Oh this birth certificate and Muslim stuff has actually helped Barack Obama. Because now when there is a legitimate criticism, that he is mismanaging the U.S. economy big time, many people don't even pay attention. They don't even listen.
But this spending issue is vital for all of us. And that's why I'm raising my voice. Pay attention!
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