Alright, it appears likely that a resolution will be passed on raising the debt limit tonight – just 1 day before our country will default on its bills. In all honesty it seems like the debt ceiling is raised we have just been hoodwinked again (T.A.R.P. , GM Bailout, Freddie & Fannie, etc) Many sides have blamed that the TEA Party is to blame but I can’t argue with their view that government spending is on a crash course to destruction. I have two observations that I find interesting:
First – NOTICE HOW MUCH THE GRAPH IS MOVING UP. Under Bill Clinton the American government was spending 500 million per day, under George W. Bust it increased to 1.6 billion per day and now under Obama it will reach 4.1 billion per day. This is not sustainable for long – If I were Moody’s or S & P (credit rating agencies) I would have downgraded USA’s debt long ago. Our problem is that we spend money we don’t have. If you look at the chart government spending will always borrow what it can with no real way of paying back. Also, if we look honestly that Congress has been controlled by the Democrats since 2006 and all parties are to blame for this mess (not just the Tea party).
Second – America has been the land of opportunity and not handouts. Many immigrants came to this country for just the opportunity to make it. You were guaranteed an opportunity…that was all and that was enough. Many longed to live and die free but now it appears like now USA has changed to a cradle to the grave entitlement mentality. I own a business in the private sector and I have to budget, plan, save and hopefully grow but if I make a mistake I don’t expect to be bailed out…it would be nice to have a never ending credit card. If my credit card for the business looked like the chart, I would be in JAIL.
Common sense approach – 1) Dont raise the debt ceiling (lets live within our means), 2) Cut spending across the board, 3) A balanced budget amendment to Constitution, 4) A fair tax on all...
A great video telling the truth how bad government spending really is: http://www.iousathemovie.com/