He submitted a request to Congress for $3.73 trillion for FY 2012. The president has proposed to cut $1.1 trillion over a decade, which amounts to about 2.9 percent of projected spending.
Loads of paper money is being printed by the Federal Reserve's printing press. At some point in the not too distant future, this spigot of cash will rapidly become just a trickle as inflation forces the Fed to stop buying Treasury bonds, and foreigners recognize the inevitability of American default, because of the worthless dollar, and cease lending (or demand a massive interest premium, which we can't afford to pay either). A person has to wonder, how a man like this could get into the highest office in our land. He has deceived the American people, especially the ones who voted for him.
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. President Obama's budget request does little to address our impending bankruptcy. Why is this? The answer is he wants this country to go bankrupt so he can merge as the savior, the king, but the reality of it all is he wants to be the dictator of this country!
The failing economy and the possibility of a default makes Obama either ignorant or indifferent to the day of reckoning that is right around our corner, or else that makes him a person that knows exactly what he is doing. I think he knows what he is doing. Which is worse, I'm not sure ignorance is. Regardless, Obama is destroying this country. That is plan to see even if you are blind!
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