I think President Obama must live in a bubble. In North Carolina today speaking about America’s economic conditions, he said the “worst of the storm is over” and pointed to the trillion dollar stimulus program as a huge success. I’ll restrain myself from writing about how much tax money was wasted on so-called stimulus efforts. Instead, I would like to discuss the real “storm” that the President apparently cannot see.
We know that our nation is on the hook for $56.5 trillion. We know that hole is getting deeper each year by roughly $3 trillion—on autopilot. But with these enormous liabilities on our books, Congress had the foresight to create a new entitlement program to provide taxpayer-funded health insurance for an additional 32 million people.
Was this a time to expand government and add trillions in additional liabilities to our nation’s books? Of course not. What will be the effect of such actions? The mother of all economic storms, Mr. President.
Unfortunately, President Obama and Congress’ refusal to govern responsibly is only making matters worse. They continue to expand government, push for more wasteful spending, and grow the long-term debt of our nation. If we are to take corrective action as a nation, we need a more informed electorate. Please join me in disseminating the truth about our country’s financial condition. If people start to believe that the “worst of the storm is over,” then the professional politicians will be empowered to continue their spending binge at the expense of our children and grandchildren.
I encourage you to share my policy paper on the budget with others.