Monday, August 01, 2011

Only In Washington

President Barack Obama and leaders of both parties in Congress are hailing the latest deal to set the wheels in motion for borrowing at least another $2.4 trillion through next year's election. The basic talking point is that the deal cuts spending more than it raises the national debt, but that statement could only be true if you live and operate under the rules of Washington, D.C.

The deal will allow the federal government to borrow another $900 billion through February, 2012, while cutting federal spending $917 billion. No. that's not a reduction in the current years' spending of $917 billion; it's a reduction in spending that will occur over the next decade. Actual federal spending will increase at least 8% this year and another 8% next year. There is no real reduction in federal spending; they'are only talking about the size of the increased spending. A second installment of borrowing will take place in the amount of $1.5 trillion if Congress is able to cut spending by more than the amount it is raising the national debt limit. Again, those are cuts promised to be made in the future, not in the current federal budget. That's what I call illusory cuts because that's really what they are.

Let's face it folks, the party is over. There is absolutely no way the U.S. government can repay the debt already on the books, let alone the planned additional borrowing of $2.4 trillion over the next 18 months. Short of confiscating the private wealth of all Americans, there aren't sufficient funds available to even make a significant down payment on repayment of the debt. To put it bluntly, there is no future for America. Your elected leaders have sealed the nation's fate through decades of reckless, out-of-control spending. Your future is to become a slave for the New World Order, which has been their plan all along. Unless there is divine intervention, our country's fate is irreversible. Nobody in Washington can save you from this undeniable outcome.  


Concerned Taxpayer said...

If the government COMPLETELY stopped spending OUR money today, and made payments of $100 MILLION a DAY, it would take **389 YEARS** just to pay off our national debt.

Cato said...

I'm in favor of whatever knocks our military down to size and gets the cops and meddlers out of our life.

A currency collapse will eventually do this, so spend, spend, spend.