Posts Tagged ‘Debt Creation’

The debt was $10.626 trillion on the day Mr. Obama took office. The latest calculation from Treasury shows the debt has now hit $14.639 trillion.

It’s the most rapid increase in the debt under any U.S. president.

“Obama will have added more to the national debt by the end of his first term in office than all of the 43 prior presidents combined.” He blames it on politics, but he’s the one spending the money, including this $1.1 Million dollar bus to go on tour. At least he could have bought the bus in the United States, but didn’t even do that. This is Obama’s philosophy, has nothing to do with politics.

The question one must ask, which doesn’t depend on either party is this…

Are we better off as a nation under his policies? Are we on the right path?

Obama Bus

Obama Bus

According to the latest Gallup survey, his job approval has dropped to an all time low, with just 38 percent.

Expensive massages, top shelf vodka and five-star hotels: First Lady accused of spending $10m in public money on her vacations within the past year. Now one doesn’t begrudge the President and First Lady to be able to take vacations. The First Lady is believed to have taken 42 days of vacation in the past year. But how many is another subject, as well as the extravagant spending that is going on in light of the worst economic problems we’ve had since the great depression.

I can’t wait to hear how they relabel QE3, and Obama’s speech when he gets back from his 75+ golf outing. All of this new government spending was sold as “investment.” Yet after two years, the unemployment rate remains above 9%, and that’s what’s reported, the actual rate is almost double that for people who have gone off the unemployment rolls, or have just totally given up hope. Jobs are not being created unless you are the government, and that is by design.

This time is different, we have reached the tipping point. My hope and optimism lies in the fact we are a great nation, and will find the resolve to change course. However, we must act prudently, forget about politics and do what’s right for this country.

Piling on more debt is not the answer.