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          Obama's Trillion Dollar Spending Spree is Beyond Irresponsible

          Putin Warns U.S. About Socialism

          The Federal Government Bailing Out Overspending States - Turning the Original Framework of Our Nation on Its Head



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Obama's Massive Spending Spree is Beyond Irresponsible


January 16, 2009


In response to the current government-caused economic disaster, Mr. Obama has proposed One TRILLION dollars in pork barrel spending.  The last time I checked, we were running highly in the RED.  Who is going to pay for this? The government will borrow the money from the communist Chinese and your children and grandchildren will pay it back with interest.

That is, if anyone will want dollars. It is entirely possible that this action will drive things over the edge to the point where no one will want to buy our debt. It almost seems like they are trying to bankrupt us.

debt clock 1

This one reckless and completely irresponsible action alone rises to the level of a "high crime".

They may choose to further wreck the paper fiat currency (the U.S. Dollar), in which case your savings and income will have less and less purchasing power.  We The People will pick up the check one way or another.

In tough economic times (or "bust", which some in the Austrian School of Economics say is the result of fractional reserve banking), individuals must make the choices necessary to balance their spending with their income.  They do not go on a shopping binge.

We are repeating the mistakes of the past, the same missteps that 80 years ago turned what would have otherwise been a mild recession into the Great Depression.  There is a wealth of knowledge available in history that shows us that Obama's plan is absolutely the wrong course of action, and will have serious consequences.




See also: Bailouts / Economy

 

 


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