Thursday, April 2, 2009

Obama's Spending Nearing the U.S. Total GDP

Tax and spend Liberals are living up to their name. On, there is a story, “Financial Rescue Nears GDP as Pledges Top $12.8 trillion”, that shows that Congress and Obama has spent $12.8 trillion this year. THIS YEAR!

I, as mentioned in Obama is Worried about Deficits NOW? , the obligated debt is going to be $65 trillion. This exceeds the WORLD’s GDP. The $12.8 trillion they have spent this year is just shy for our total GDP or $14.2 trillion for last year.

One problem. Obama has not finalized his budget. The Congress Budget Office (CBO) said the Obama budget will generate deficits that are “unsustainable.” In that budget, he wants universal healthcare, cap and trade, and other spending programs. At this rate, they will surpass our total GDP for next year. That is like you walking into Wal-Mart and spending more than your yearly pay in one visit, thinking it will help help you get out of debt.

What does this mean? Well, this spending destroys our economy. It destroys the value of the dollar. It destroys our interest rates. It destroys the fabric our financial system. These outrageous deficits will, not may, WILL generate massive inflation and destroy our country.

This spending is not just irresponsible and dangerous, but Un-American.

This is all intentional. The inflation is not that is just the unintentional consequence that Liberals cannot and will not see. The reason for this spending is to create programs and massive debt, so that the government will never be able to cut taxes or lesson its size and therefore its power.

After the People become intoxicated from all these entitlements and the nanny state, the government will be able to do as it wishes, since the People will only want to end their handouts from the State.

Unknowingly, the People in order to have their entitlements, they must give up freedoms, liberties, and property for them. As Benjamin Franklin said, “When the people find that they can vote themselves money, that will herald the end of the republic.”

We must stop this intoxication with educating these lemmings that do not understand the ramifications of handing over so much power to the State. The power given to the State is almost impossible to take back, so we cannot give it to them in the first place.

No comments:

Post a Comment