The Problem is Big Government Spending!
This week our government debt surpassed the $1.4 trillion dollar mark. We are now nearly 12 trillion dollars in debt as a nation, with no end in sight to the madness! (Just wait until the ‘ponzi scheme’ called Social Security hits the fan.)
Unfortunately for Americans, President Obama picked up where Bush left off in regards to massive spending… Sadly, instead of slowing the train down and turning it around, he has increased speed by about 5 times in the wrong direction. I now wonder if it will ever be possible to have a government that runs a financially sane budget again. (Unless of course Libertarians are elected to power) In seems that our politicians have no interest in such a thing and feel no concern about our financial state or even how it will affect our children after us. I even read today that Nancy Pelosi is planning an additional stimulus bill, since the $887 billion dollar stimulus – passed a few months ago – fell on its face economically. (Can you say 17% real unemployment?)
The real problem is not even the debt or the deficit. Even an $11.9 trillion dollar deficit could be dealt with if our government would stop the madhouse spending spree. The problem of course is big government. The welfare/warfare state is bankrupting us and must be addressed if we are ever to have fiscal sanity again. The requirements to fix our mess will require drastic reductions in the size and scope of our federal government, and no one in political power is willing to ‘cowboy up’ and anything about it. It’s almost as if they live in a dream world where our finances are monopoly money, as if their are no consequences for any of this lunacy… I fear the only outcome of this ‘Don Quixote’ spending is a complete ‘meltdown’ of our economy that will only lead to a currency crises once foreign nations stop financing our so-called Disneyworld. (It will not be pretty once the dust settles)
Well, enough of my rant… For an overview on this topic I recommend you watch these 2 videos below. They are excellent and very informative. You can’t go wrong with any info from the Cato Institute…
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