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When You Go Over the Cliff You Crash

December 17, 2012 08:26

Arguing over a tax on “the rich” is like arguing over the bar tab on the Titanic. Obama has increased the debt by $5 TRILLION and thinks $ 8 billion will make a dent?

In 2010 Obama argued that economic growth would increase revenues and “cut the deficit in half by the end of my first term in office.”

But Obama does not really care about revenues. In his 2008 debate with Hillary the moderator explained to Obama that capital gains rates were cut under Clinton and Bush resulting in HIGHER TAX REVENUES to the government. Let me repeat, LOWER capital gains tax rates resulted in HIGHER TAX REVENUES. Yet Obama said he would raise rates anyway “as a matter of fairness.” This explains how Obama’s Marxist ideology is more important to him than facts, economic growth, or jobs. Obama wants to redistribute income. Simply put he wants to take from some citizens by government force and give to others. This is the basis of communism-Marxis-socialism not the freedom of opportunity that is the foundation of America.

The cliff America faces has been caused by bipartisan spending to maintain power, steal taxpayer dollars, buy votes. Under just one term of Obama the national debt has exploded by over 50% from under ten trillion to over $16 TRILLION. Now Obama wants unlimited power to continue the ruinous spending.

Here is Obama on the debt when it was less than two thirds of what it is today:

“The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies. … Increasing America’s debt weakens us domestically and internationally. Leadership means that ‘the buck stops here. Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better.” – Barack Obama

The debt is climbing by $5 billion a DAY! Obama has already bankrupted America and stolen the future from your children and grandchildren. It’s almost laughable when you see this quote from Obama’s Office of Management and Budget website:

“Rather than fight the same tired battles that have dominated Washington for decades, its time to try something new. Let’s invest in our people without leaving them a mountain of debt.” – President Barack Obama on his Office of Management and Budget website.

The Congressional Budget Office estimates that if Obama remains in office, the national debt by the time he leaves in 2017 will be about $18.4 trillion. Population will rise about 9 million over the same period. The debt per person will be about $57,000 at the end of an Obama second term, a 67% increase in just eight years.

It would be LOL funny if it wasn’t so deadly serious. In the ancient wisdom of Proverbs 22:7 it says “The rich rule over the poor, and the borrower is servant to the lender.” Who will we be servant to? Who are we borrowing from?

Over $5 trillion of our debt is owed to foreign countries. Almost 25% of that foreign debt is owed to communist China. Under less than four years of Obama, foreign debt has almost doubled. Why should that matter? Secretary of State Hillary Clinton told the Council on Foreign Relations that our national debt is a national security risk echoing previous statements by Joint Chiefs Chairman Admiral Mullen, head of U.S. intelligence, Dennis Blair, and all of America’s intelligence agencies.

Obama’s real plan is to continue deficit spending which will then force an increase in taxation. His constant mantra has been tax the rich. Make everyone pay their “fair share.” Even though 47% of Americans pay no tax at all and according to the Congressional Budget Office (CBO), the average American in the top 1 percent earns 20 times what the average American earns, yet pays 40 times the taxes. This is Obama’s Marxist ideology.

“The way to crush the bourgeoisie is to grind them between the millstones of taxation and inflation.” – Vladimir Ilyich Lenin

Senator Dirksen (R-IL) warned back in 1964 about Democrats being “prone to spend money .. when it’s rather doubtful whether or not it is good for the country and for the interests of the people. Because you pile up your national debt. You pile up the interest. You pile up these staggering deficits that we have at the present time. [1964 deficit was $5.9 billion – $43.7 billion when adjusted for inflation] And that spends itself in terms of higher interest rates, higher prices in the stores where people shop. And so the evil effects always fall upon the people back home.”

“Blessed are the young for they shall inherit the national debt.” – Herbert Hoover. The problem is most young people don’t have a clue what they are in for. In 2008 most young votes went to Obama. What did they get for it? Another four years older and much deeper in debt.