A few facts to tighten your sphincters. | The Rugged Individualist - 0 views
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Gary Edwards on 26 Jan 13Good post from Roy Filly collecting the facts about our out-of-control federal spending problem. "What stunned House Speaker John Boehner more than anything else during his prolonged closed-door budget negotiations with Barack Obama was this revelation: "At one point several weeks ago," Mr. Boehner says, "the president said to me, 'We don't have a spending problem.' " [...] The president's insistence that Washington doesn't have a spending problem, Mr. Boehner says, is predicated on the belief that massive federal deficits stem from what Mr. Obama called "a health-care problem." Mr. Boehner says that after he recovered from his astonishment-"They blame all of the fiscal woes on our health-care system"-he replied: "Clearly we have a health-care problem, which is about to get worse with ObamaCare. But, Mr. President, we have a very serious spending problem." He repeated this message so often, he says, that toward the end of the negotiations, the president became irritated and said: "I'm getting tired of hearing you say that." We had a spirited argument a few posts ago about who was at fault for our annual trillion dollar deficits. I stopped arguing because it became clear to me, at least, that it doesn't matter who is at fault. We are spending much more over the past 10 years (and my chart only goes to 2010). As of December, our federal government borrowed 46 cents of every dollar it has spent so far in fiscal 2013. Blame whomever you like. No nation can survive with a fiscal plan that calls for such massive spending. Blame Bush, if that makes you feel better, but our Chief Executive Officer is Barack Hussein Obama and it is his job to solve the problem, not kick the can down the road. We are out of road. When our CEO states that "we don't have a spending problem" as I look at the chart above it does not inspire confidence."