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Forward on Road to Ruin – Debt to Hit $20 TRILLION in Obama 2nd Term

November 2, 2012 08:33

Obama’s plan to create jobs and save the economy? Trillion dollar deficits for the next four years leaving the next generation slaves to public debt.

By Michael Whipple, Editor usACTIONnews.com

Obama’s plan to create jobs and save the economy? Trillion dollar deficits for the next four years leaving the next generation slaves to public debt.
In 2008 Obama had this to say about the debt:

“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.” – Senator Barack Obama when the debt was “only” about $10 trillion.

Obama promised to cut the deficit in half but what are the results? Record deficits exceeding a trillion dollars every year he has been in office. What have the Democrats offered? The Democrat controlled senate has not even passed a budget in over three years. Is this any way to run a country?

“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.

“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.

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

Former Chairman of the Federal Reserve Alan Greenspan summed up the ideology of the tax and spend socialist Democrats:

“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.” – Alan Greenspan

Obama’s “fundamental transformation of America” is to make the government a giant wealth transfer machine. He has nearly reached that goal while bankrupting the nation. One in seven Americans are now on food stamps. One hundred million Americans get some form of welfare.

Can we afford four more years of national suicide?