Imagine you give your college kids a credit card to use only for necessities and she maxes it out within the first year. You ask for an accounting and she admits she went overboard and she pledges to freeze her spending at the level it is right now, not a penny more. Well the 'right now' has already broken the bank and you can't cover another year of the level she's spending right now.
That's pretty much what our fearless leader promised to do in the SOTU. $1.4 trillion deficit in 2009. $1.45 trillion deficit in 2010. And this past year they didn't even attempt to present a budget. They are essentially running the U.S. government as a huge petty cash fund and they're borrowing almost 50 cents of every dollar spent.
I was watching an analysis this morning (Forbes?--can't remember for sure) that if the current trend continues, the deficit/debt will exceed the U.S. economy within the next year or so. And that puts us in the same situation as a bankrupt Greece except for us it will be much worse because we don't have a bunch of more affluent neighbors ready and willing to cover our national ass like Greece did.
And Fearless Leader seems oblivious to the extreme economic peril our government has put us in. He wants to freeze spending at the level that maxed out the credit card.
That's pretty much what our fearless leader promised to do in the SOTU. $1.4 trillion deficit in 2009. $1.45 trillion deficit in 2010. And this past year they didn't even attempt to present a budget. They are essentially running the U.S. government as a huge petty cash fund and they're borrowing almost 50 cents of every dollar spent.
I was watching an analysis this morning (Forbes?--can't remember for sure) that if the current trend continues, the deficit/debt will exceed the U.S. economy within the next year or so. And that puts us in the same situation as a bankrupt Greece except for us it will be much worse because we don't have a bunch of more affluent neighbors ready and willing to cover our national ass like Greece did.
And Fearless Leader seems oblivious to the extreme economic peril our government has put us in. He wants to freeze spending at the level that maxed out the credit card.
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