Oklahoma’s first female governor Mary Fallin and South Carolina Gov. Nikki Haley give a women’s and mother’s point of view on Obama’s economy and his self grading of incomplete.

Even Obama recognized the dire implications of debt before he got the checkbook. In 2004 Obama said the “monstrous” deficits were “an enormous problem” when the deficit was $413 billion. In 2008 he said increasing the debt would burden our children and was “unpatriotic”.

“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 [emphasis added]

Obama continues to deceive the public about the mountain of debt he is leaving to our children and grandchildren. His Office of Management and Budget website has this quote from Obama:

“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

Maybe Obama doesn’t see $5 TRILLION new dollars of debt as a mountain. More likely Obama is using deficit spending to create an ever expanding welfare state. Over 100 million Americans receive some form of welfare payment. Alan Greenspan, former Chairman of the Federal Reserve explains the real purpose of deficit spending:

“Stripped of its academic jargon, the welfare state is nothing more than a mechanism by which governments confiscate the wealth of the productive members of a society to support a wide variety of welfare schemes. A substantial part of the confiscation is effected by taxation. But the welfare statists were quick to recognize that if they wished to retain political power, the amount of taxation had to be limited and they had to resort to programs of massive deficit spending, i.e., they had to borrow money,by issuing government bonds, to finance welfare expenditures on a large scale.” [emphasis added]

Obama’s own former Joint Chiefs Chairman Admiral Mulllen said “The most significant threat to our national security is our debt…”

Other Obama administration officials have expressed similar concerns about the debt.

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.

Some members of congress and government have also warned of debt problems:

“After the $700 billion bailout, the trillion-dollar stimulus, and the massive budget bill with over 9,000 earmarks, many of you implored Washington to please stop spending money we don’t have. But, instead of cutting, we saw an unprecedented explosion of government spending and debt, unlike anything we have seen in the history of our country.” — Rep. Michele Bachmann

“We have a crushing burden of debt that is coming to hit our economy. This is what it all comes down to. We are driving our country and our economy off of a cliff.” – Rep. Paul Ryan on house floor

Former Treasury Secretary Rubin said the debt crisis could explode any minute.

“We’re spending twice as much money as we did in 2001. If you go back 15 years our deficit this year is bigger than what our entire budget was. That’s how out of control the federal government is. … There is a political reason we’re not having a budget. Everybody understands that. Nobody’s going to say it. .. because we don’t want to make the hard choices in an election year.” – Sen. Dr. Coburn

“The fact is, we’ll never build a lasting economic recovery by going deeper into debt at a faster rate than we ever have before. It took this nation 166 years until the middle of World War II to finally accumulate a debt of $95 billion.” – Ronald Reagan

“Whether one believes leaves in a large, very active government or something more limited, mathematically, the amount of debt we already have and the terrifying rate at which it is accumulating will lead to national ruin,” Gov. Mitch Daniels

 

 

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