Barack Obama Says That What America Really Needs Is Lots More Debt
By Michael Snyder
TheEconomicCollapseBlog.com
February 2nd, 2015
When it comes to taking a chainsaw to the future of America, nobody seems more eager than Barack Obama. Despite the fact that the U.S. national debt is on pace to approximately double during his eight years in the White House, he has just proposed a budget that would take government spending to crazy new heights. When Barack Obama took the oath of office, the U.S. national debt was 10.6 trillion dollars. Today, it has surpassed the 18 trillion dollar mark. And even though we are being told that “deficits are going down”, the truth is that the U.S. national debt increased by more than a trillion dollars in fiscal 2014. But that isn’t good enough for Obama. He says that we need to come out of this period of “mindless austerity” and steal money from our children and our grandchildren even faster. In addition, Obama wants to raise taxes again. His budget calls for 2 trillion dollars in tax increases over the next decade. He always touts these tax increases as “tax hikes on the rich”, but somehow they almost always seem to end up hitting the middle class too. But whether or not Congress ever adopts Obama’s new budget is not really the issue. The reality of the matter is that the “tax and spend Democrats” and the “tax and spend Republicans” are both responsible for getting us into this mess. Future generations of Americans are already facing the largest mountain of debt in the history of the planet, and both parties want to make this mountain of debt even higher. The only disagreement is about how fast it should happen. It is a national disgrace, but most Americans have come to accept this as “normal”. If our children and our grandchildren get the opportunity, they will curse us for what we have done to them.
All debt destroys.
All debt enslaves.
And when you are talking about an 18 trillion dollar debt, you are talking about an amount of money that is almost unimaginable.
If our national debt was reduced to a stack of one dollar bills, it would circle our planet at the equator 45 times.
How could we have done such a thing?
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