But we can spend our way to hell?
by Jim Hoft
06/25/2011
Once again...
Barack Obama increased the national debt by over $3 trillion in just over 2 years.
Obama tripled the deficit in one year with his failed stimulus plan.
The Obama deficit this year may reach $1.65 trillion. (The Captain's Comments)
Barack Obama and Democrats also added over One Trillion Dollars to the Federal Budget in the last 4 years.
That's at least a 30% increase in federal spending in just 3 years.
But the leftist ideologue is not about to switch gears yet.
Obama told Americans today in his Weekly Address that he must spur the economy with more spending.
The Hill reported:
Spurring the economy will take investments, as well as spending cuts, President Obama said Saturday his weekly address.
"We can’t simply cut our way to prosperity," Obama said. "We need to do what’s necessary to grow our economy; create good, middle-class jobs; and make it possible for all Americans to pursue their dreams."
The president recorded his address from Carnegie Mellon University in Pittsburgh where he toured a high-tech factory and touted his newly announced Advanced Manufacturing Partnership, a $500 investment initiative.
3 comments:
"Cutting our way to prosperity" is exactly how most people achieve financial independence in our country. It is how most millionaires are made, by consistently saving more than they spend. In economics, savings equals investment. When savings are low and debt (and interest payments) is high, investment is correspondingly low and as a result there is less room to invest in technology, projects, hiring and infrastructure. Obama is flat wrong that we can't cut our way to prosperity. Recent research by Alesina and Adragna support this assertion. I blog at freedoomed dot com.
"We need to do what’s necessary to grow our economy; create good, middle-class jobs; and make it possible for all Americans to pursue their dreams."
Obama just doesn't get it! He still thinks government creates jobs, but they only create public sector jobs, which just bloats government bureaucracy further which costs taxpayers more. Cutting programs, taxes, and unnecessary regulations are the way to do what he's talking about, but that would go against everything he stands for.
So we are doomed to failure until Obama and his people are removed from government.
Obama has already proven himself wrong when the stimulas package didn't work. Are we to believe that this nut is running our country by trial and error. Get this ignorant imposter of a man out before our country falls.precutub
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