Obama: The Politics of Blame
I was embarrassed after listening to President Obama’s speech last night on television. He is so transparent as what he is doing. Clearly, he is setting up to blame the Republicans for any debt default AND to inoculate himself in case the US loses its AAA credit rating. He dishonestly tied the debt-ceiling debate to the credit-rating issue with full knowledge that Standard and Poor’s has already said that it may cut the US rating even if Congress moves on the debt ceiling. He want to avoid accountability when he and the democratically controlled Congress over the last three years has raised the national debt held by the public from 40% in 2008 to 72% next year, and rising in subsequent years! This spending is the REAL CAUSE of any downgrade—uncontrolled spending—no budget established by the Democrats while in 100% control of congress and the presidency—for over 800 days! Are the American people this stupid not to see through this lie? Well maybe they are getting smart. The latest Obama Gallup poll numbers show his approval rating dropped again to 43%, the lowest level of his presidency and lower than Bill Clinton at a similar stage of his budget standoff with the Republicans in 1995. And, by the way, did you also notice in his speech last night the absence of the word “veto” when talking about the Republicans and Boehner’s current proposal. Wonder why? Doesn’t take a genius to figure that one out!
Let’s review some facts once again about the debt at the risk of repeating myself over and over again. We must get this through to the general population—tell your friends—and go to this link
Send this to everybody you know. Let’s be straight and once again examine the real facts. Budget reforms need to remember that that this is NOT a political fight between Republicans and Democrats; it is a fight against a 50-year trend toward socialism. Moreover, it is a moral fight, not an economic one. Lastly, this is a fight that anyone can win in 16 months from now to the presidential election. It will take hard work for 10 years or more to undo what has been done over the past 50 years.
Let’s review the facts again. The Bureau of Economic Analysis tells us that total government spending at all levels has risen to 37% of gross domestic product today from 27% in 1960—and will reach 50% by 2038 at our current rate of spending. The Tax Foundation reports that between 1986 and 2008, the share of federal income taxes paid by the top 5% of earners has risen to 59% from 43%. Between 1986 and 2009, the percentage of Americans who pay zero or negative federal income taxes has increased to 51% from 18.5%. All of this is accompanied by an increase in our national debt to 100% of GDP today from 42$ in 1980. Do we have a problem?
Where will all this lead—for those who should ask? Two scenarios—the first we will eventually hit a point where so few people actually pay for their share of the growing government that a majority become completely invested in the social welfare state, which stabilizes at some very high level of taxation and government social spending—think Europe, Greece, Portugal, Ireland, and Italy. Alternatively the social system collapses under its own weight, and we get some kind of permanent austerity after the rest of the world finally comprehends the depth of our national spending disorder and stops lending us money at low interest rates—again—think Greece!
Then think Rome—what have we learned in 2066 years?
“The budget should be balanced, the Treasury should be refilled, public debt should be reduced, the arrogance of officialdom should be tempered and controlled, and the assistance to foreign lands should be curtailed lest Rome become bankrupt. People must again learn to work, instead of living on public assistance.” Cicero, 55 BC
Ladies and gentlemen—we must stop this—please, please spread the word!