We are not a nation of deadbeats…waitaminute!!!

Comrade President Obama gave a press conference this morning.  If I wasn’t a dude, I would be going to the doctor to get checked for pregnancy, because I got sick after listening to it for five minutes.

Obama Press Conference

The President began by berating Congress and gun owners once more. Most of the linked article discusses gun control and what the President can do about it (not much thanks to the 2nd Amendment).

The President also spoke about the upcoming fight over raising the debt ceiling (again).  Here is a sample:

Obama also warned congressional Republicans that he will not trade spending cuts for their votes to raise the country’s debt ceiling.

Obama called Republican talk of not raising the limit—of, in effect, not paying the country’s bills—“irresponsible” and “absurd.” He said the GOP will “not collect a ransom in return for not crashing the economy.”

“You don’t go out to dinner and then eat all you want and then leave without paying the check—and if you do you’re breaking the law,” he said. “If Congress wants to have a debate about maybe we shouldn’t go out to dinner next time, maybe we should go to a more modest restaurant, that’s fine. That’s a debate that we should have. But you don’t say, ‘In order for me to control my appetites, I’m going to not pay.'”

EXCEPT THAT THAT IS EXACTLY WHAT THE FEDERAL GOVERNMENT HAS BEEN DOING SINCE THE 1960s.  Look, when Ronald Reagan took office in 1981, the National Debt was under $1 trillion.  When George W. Bush took office in 2001, the National Debt was about $5.5 trillion.  When Barack Hussein Obama took office in 2009, the National Debt was approximately $11.5 trillion.  After 4 years, the National Debt is now around $16.4 trillion.  And in Obama’s first budget, it was projected that the National Debt would be $25 trillion by 2020.

The federal government has been spending 40% more than it takes in in revenue for the last 4 years.  It has run a deficit of more than $1,000,000,000,000 for the last 4 years, and will do so for a 5th: Trillion Dollar Deficits.

The Administration wants tax increases as part of a budget deal with the Republicans in the House.  This is insane.  The economy is still in a recession with unemployment above 7.5%.  Also, the federal government took in more than $2.3 trillion in 2011.

Federal Government Revenues

In fact, the Feds have taken in over $2 trillion in revenue every year since 2005.  We don’t have a revenue problem, we have a spending problem at the federal level.  In essence, the federal government is eating not only their dinner, but yours, mine, our children’s, and our grand children’s as well.

The President is right, we are not a nation of deadbeats.  We just have a government of deadbeats.

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Categories: Borrowing, Debt, Government Shenanigans

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