Wednesday, February 23, 2011

THE NEW BUDGET: What a disgrace!

Since I have retired (not all the way because nobody can do that anymore) I can do more research and study not only in God's Word but also about issues that plague us today. Here is the latest thing that I looked into and your comments are welcome. I can't decide if Obama in his 2012 budget request is either ignorant, or just plain stupid when it comes to the huge depth of this country's fiscal crisis or else  wonder if he really just doesn't care. I'm begininng to think that he just does not care and that he has his own agenda. He submitted his request to Congress for $3.73 trillion for the FY 2012. Obama has proposed to cut $1.1 trillion over a decade, which amounts to about 2.9 percent of projected spending. Where is this guy coming from? Doe he not get it we are broke now!

What really bothers me is that, as president, he is surely has to be aware that the deficit today is largely being funded by foreigners and by the Federal Reserve's printing press. Printing more paper money all the time and it will soon be worthless. At some point in the not too distant future, both of those spigots of cash will rapidly become just a trickle as inflation forces the Feds to stop buying Treasury bonds, and foreigners recognize the inevitability of American default and cease lending (or demand a massive interest premium, which we can't afford to pay either). Obama is our leader and he still does not get it or does he seem to care.

This country is running a real risk of default on the national debt, which is of course only a fraction of the unfunded liabilities we owe to Medicaid, Social Security and, most especially, Medicare; those entitlements are estimated to be between $60- and $100-trillion short. Check it out for yourself. Do the homework like I did. This country is broke.

 Obama's budget request does little to address our impending bankruptcy. Like I said earlier he just does not care and I think, with all my heart, that is what he wants! He wants this country to go broke, so he can bring in his socialist government. That makes him either sneaky, ignorant or indifferent to the day of reckoning that is right around our corner. I think that all of the above apply here.  Which is worse, I'm not sure. Regardless, his actions are too little and might even be too late. Is this the change that he promised us? I want to know!

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