GOP Caves – Allows Obama to Bankrupt US

January 2, 2013 10:34

GOP now means Gutless Orwellian Pretenders. Over $16 TRILLION in debt increasing by $5 BILLION a day and and our looney leaders continue to steal from our children and grandchildren and allow EVERYONE to be taxed by rising prices caused by our devalued money.

National debt per citizen has grown from about $34,083 per person to $51,529 since Obama took office, an increase of $17,446 per person.  Jan. 20, 2009, according to the U.S. Treasury, the total debt of the federal government was $10,626,877,048,913.08. October 25, 2012 the debt had climbed to $16,197,082,554,040.04, an increase of  52%, $5,570,205,505,127, in less than four years. The debt is now increasing at over $4 BILLION dollars a DAY!

Obama had 90 days left in office as of October 25, 2012. At $4 billion a day, that’s an additional $360 billion which is another $1,145 per citizen. That will be a total INCREASE of each persons share of the national debt of about $18,591 for every man, woman and child who is a citizen of the U.S. just since Obama took office. That is over a 50% increase! How will that be paid back? How will you pay your share?

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.

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 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.

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.

“The consequences arising from the continual accumulation of public debts in other countries ought to admonish us to be careful to prevent their growth in our own.” — John Adams

“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

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


Also please see:

Has Obama Already Bankrupted America?

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