leftovers from bush administration. go figure...
If you are blessed with a baby or grandbaby in 10 years, he or she will be born owing about two times more to pay off the national debt than the average college graduate today owes in student loans.
What's worse, of course, is that the college student presumably gets a college-level education in return. In contrast, that innocent little baby will have done nothing to incur the bill we're handing over -- and will get nothing in return for paying it off.
The national debt is now projected to be $17 trillion in 2019 -- about $50,000 for every man, woman and child in America.
This is a disaster that, not only do we see coming, but our leaders in Washington are planning under our noses. They're designing it and implementing it at the nation's Capitol in broad daylight and within sight of any number of monuments speaking to America's greatness and self-sacrifice.
Then again, when was the last-time you thought of self-sacrifice and Washington politicians in the same moment?
Today, it's every man for himself -- every generation for itself. We are propping up our comfortable lifestyles today with the hard-earned money of those yet to be born.
And as our progeny work to pay our bills, they will naturally have to do with less than we have -- because there will be less left for them. Since less will be invested in their lifetimes, their own children will suffer as a result.
The Baby Boomers and today's younger generations, whatever they're called these days, have taken what their parents gave them and squandered it -- and now are stealing from their children.
Not even the Greatest Generation can be called blameless. Decades after defeating tyranny, they've bought into the what's-in-it-for-me, where's-my-discount AARP philosophy. Some even complain that Washington this year is denying them a cost-of-living increase -- when the cost of living has actually shrunk.
Ultimately, most folks expelling carbon dioxide today owe a share of blame for electing years' worth of self-serving, hand-out-the-candy politicians who are bleeding the country dry for personal gain and gratification.
On the eve of his trip to Asia -- and after becoming the worst deficit spender in U.S. history -- President Obama said he gets it, and started talking about the trouble with deficit spending.
Yet, in a Wall Street Journal column titled "The Coming Deficit Disaster," former Congressional Budget Office director Douglas Holtz-Eakin argues that the fiscally destructive and politically dishonest health-care reform bills making their way through Congress will only speed up the ominous day of reckoning this country has coming to it.
"Any combination of what is moving through Congress is economically dangerous and invites the rapid acceleration of a debt crisis," Holtz-Eakin writes of health-care reform. "It is a dramatic statement to financial markets that the federal government does not understand that it must get its fiscal house in order."
Not even the normally Democrat-friendly satirists at Saturday Night Live are oblivious to the country's perilous financial condition: They staged a skit in which the Chinese president was portrayed pressing Obama about how the U.S. will ever pay back the hundreds of billions we already owe them. The Chinese president's reaction to the lame response was -- well, hilarious, but not ready for prime time or a family newspaper.
But the point is clear: The Chinese aren't stupid. At some point, they're going to put a stop to our gravy train.
The reality is, the Chinese are just the middle man.
The real party being ripped off here is our children.
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leftovers from bush administration. go figure...
iraq costs......... go republicans
Folks that keep blaming bush for EVERYTHING are admitting hussein has done NOTHING except install his czars and further the Cloward-Piven strategy.
How is everybody liking this "Change we can believe in"?
The supporters of the destruction of America and the Obama-way will continue to say "Bush did it" for everything Obama and the neoDem congress do for the next year (next 3 years for Obama). When we, as a country, get tired of the massive drive towards socialism, we'll elect a congress made up of constitutionalists and put every neoDem, neoCon, RINO, socialist and communist on the street. Until then, we'll prove H.L. Mencken right. He said, "The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary." You know what he meant, Bush did it, global warming, health care crisis,... "Help, save me, save me ...."
Pushing through the health care bill instead of focusing on the real crises of our growing debt displays how the administration lacks understanding of the important issues. The administration, in effect, says the important problems are beyond their control, so don't blame them if they can't fix them. It's an admission of ineptness. It's going to take an [filtered word] kicking conservative president and Congress to change things and admit to the public it's going to hurt.
The article focusing on the effects on our children brings home a point. The Chinese (and other debt holders) will own our kids. If our kids try to break out of a system that has them owing so much, the Chinese are going to say, "No, you keep working to pay me. I own you." And they will.
Know why the imposters fit in so well with Obama's guests? They are all phonies and have no idea how to run a government.
The op-ed is right on target. And wallowing around blaming past administrations will get us nowhere. The reality of obama's "change" has turned out to be more of his many lies. Not only is he spending on programs like a wild man, he's in bed with the thieves he promised to root out and he lives like a king with his outrageously expensive parties, trips, vacations, etc. And don't say "Well others before have done that", our leader needs to lead by example, and obama's example is disgusting. The last sentence of Riverman1's 5:52AM post is profoundly accurate; we simply must vote the buffoon obama and most of congress out of office ... and establish term limits.
Rhetor, if you think Clinton was the force behind balancing that budget you need to read a little more. Newt Gingrich and the Republican Congress had a stated goal to balance the budget in 7 years. It took them 4. In March of 1995 Gingrich told the entire Reupublican House of the goal to balance the budget and end 30 years of red ink. Which is exactly what they did. Clinton fought them tooth and nail to spend more. Gingrich made him submit FIVE budgets until he finally presented one that matched the Republican balanced one.
We need to fire both of our Socialist/RINO SENATORS. Both voted for TARP, both voted to override Bush's VETO of Saxby's waste filled Farm bill, Johnny wrote and got passed the $16 BILLION & 24 BILLION fraud filled housing rip off of the taxpayer, both were members of the gang of 12 that gave us OBAMA. We can't fire OBAMA for 3 years but the RINO Johnny needs to go next year. Georgia needs CONSERVATIVE SENATORS to go with our Congressmen.
The problem today with the government trying to pour more money into the economy is that the government has no money. They have borrowed and taxed all they can. If they attempt to take more from the private sector they will be stiffling the economy. Keynesian Theory dealt with government priming the pump in small amounts. The theory lost favor in the 70s and 80s when it was shown cutting taxes was a better way to stimulate the economy. For an indepth anaylsis of why government spending actually hurts the economy read this study from the Heritage Foundation. http://www.heritage.org/research/budget/bg1831.cfm
An 85% increase in the debt under Bush in 8 years, or 10.7% yearly average. A projected increase of 60% in 10 years, or 6% yearly average. Seems like the AC's debt worries are a year or so too late.
The best visual representation of Bush spending v. Obama spending comes from the liberal Washington Post. The Heritage Foundation presents this in another great article comparing Obama's spending with Bush's. http://blog.heritage.org/2009/03/24/bush-deficit-vs-obama-deficit-in-pic...
Another hypocrite conservative bemoaning the national debt. Waste, waste everywhere, passing out candy to old folks and the awful specter of healthcare cost. But war squander is not even listed in his parade of fears. The writer is worried about domestic waste but not so worried about military waste - typical Republican whining.
Obama spend more in 10 months that the cost of BOTH wars in 6 years.
Rhetor, the point is that it's well known that Gingrich had an avowed goal to balance the budget while Clintion tried to spend more. By the way, Reagan and GHW Bush had Democratic Congresses. As W had at the end of his term.
And it continues, libs continue to blame Bush for everything but can't give us anything great that prezbho has done for our country. How do you increase the amount of money in the economy when we have the highest unemployment (increasing unemployment benefits - taxpayer money) in over 25 yrs and the highest debt in only 8 months (increasing daily) while most of the new jobs have been guv'mint jobs? We're paying millions in interest every day, to China, for the debt the prezbho admin keeps increasing. If you're not concerned - You're not paying attention...
Birth control please.
I can fix it, everyone let me hold a dollar.....
Why do Democrats always pin the blame on Bush? Maybe because he invaded the wrong country and started a depression? Or could it be the "shrewd" way he raised everybody's taxes by giving tax cuts to the wealthy? (Less federal revenue resulting in less funding to states, counties and cities.) We don't have to wait for our grandchildren to pay for this disaster. We are paying for it now in raised taxes and fees.
If you refuse to follow this elementary illustration of cause and effect, you are probably a Republican with crushed granite for brains.
Dashiel, however we got into this situation the question that begs answering is what is Obama going to do about it? So far we've seen nothing but confusion on his part and plans to spend trillions more. If you don't get that your brains are probably like Joe Biden's running our of those holes in his head where he had brain surgery like hospital Jell-O with bits of fruit in it.
We blame Bush because he did it. He relaxed laws and downright reversed some so everyone of his repug cronies could make a billion dollars. That`s banks, CEO`s of corporate America, and Wall St., etc. Everyone`s retirement suddenly disappeared and the fat cats got fatter. He even wanted to give them the Social Security monies to play with. As far as the debt goes, if you bought a house 30 years ago you would have paid back about triple what it cost, but, now it`s worth more. `Course now the dollar "a`int what it used to be" either. So, there wqill be more money or a new base which makes it worth more. The kids won`t have it any worse that you do...
Where were the Editor's concerns during the eight years that George W. Bush was ruining this country and running up debt? Where were the Teabaggers? Bush/Cheney did nothing that didn't benefit themselves, their cronies or Halliburton. You can't fight two indefinite wars and not think you would have to eventually pay for it. One of the wars was started based on lies just to give Halliburton billions of US Tax dollars in noncompeted contracts, while Dick Cheney was still on the Halliburton payroll! Not only was that unethical, he was taking "Blood Money." To sit around an write Editorials claiming all the problems with the economy are President Obama's fault and started on January 20, 2009 is a fraud. The disaster started well before President Obama took office. The real tradgedy is how do you tell your child or grandchild why their relatives were killed in Iraq? So that Dick Cheney's Grandchildren could go to Yale and Harvard is not a good answer.
Dashiel...bush lowered taxes on EVERYBODY.....not just the wealthy.
Oh....JB represents the Democratic thinking perfectly. It won't matter because the dollar won't be worth what it is now. Dang, such a simple reason why we can spend without having to worry. Why didn't I think of it?
Oh....another one from Fred. The first Iraq War was fought for Halliburton. You guys must have serious problems with the wind following you around from the black helicopters.
The same-o guv'mint loving libs whining and complaining about Bush but still can't give us anything great that prezbho has/is doing to correct our problems in his 11 months of 'change we can believe in'. prezbho paid millions to get these 'problems' and told everyone he could correct them. Please tell us what he has done other than to add millions to the unemployment rolls, monthly, and to add TRILLIONS to our debt and wants to add TRILLIONS more. prezbho wants c ap and tax which will add more to ALL our bills. prezbho wants guv'mint insurance which will add to ALL our bills. How many with limited monthly incomes can afford the increases? How many more will be added to the guv'mint welfare system with these tax increases? What's after TRILLIONS? Be concerned - Be VERY concerned...
Riverman1, maybe it's about time to get those bifocals checked. Don't fret, health care is coming! I was not talking about the First Iraq War, I was talking about the George W. Bush/Dick Cheney "There will be a Mushroom Cloud over America" if we don't attack Iraq War of 2003. There's none so blind as those who will not see!
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