Obamanomics, Deficits Unsustainable

“The long-term deficit and debt that we have accumulated is unsustainable.” Barack Obama May 14, 2008

Making one of the most sane statements that has come from his mouth since taking the Oath of Office, Barack Obama admitted that current deficits were unsustainable and that at the rate the deficits were climbing and that money was being printed inflation was inevitable. Yet along with this absolutely true statement he not once took any responsibility for the ridiculously high deficits and the massive spending that he has imposed which has brought the deficits to unsustainable heights.

A recent poll indicates that nearly 60% of Americans are tired of the Obama buck passing concerning deficit spending. Since taking office Obama has claimed that he ,”inherited,” this problem from the Bush administration. Which is partially true but mostly false. As a conservative even while he was President I never was a fan of the Bush fiscal policy which was a far cry from limited government and less government spending.

But facts are facts and truth is truth. According to the Bush administrations own numbers at the end of 2008 the projected deficit for fiscal year 2009 which ends in October was $531 billion with deficits totaling 2.2 trillion from 2009 to 2014. Terrible numbers but paled by the numbers that have expanded since Barack Obama took office.

Obama has expanded the deficit for fiscal year 2009 to $1.84 trillion with the total deficit spending from 2010 to 2019 reaching $9.3 trillion dollars. A far cry from the projections predicted by the Bush administration and when the numbers are viewed in light of the spending that Obama has instituted since taking office, an extremely hypocritical claim on Obama’s part that he ,”inherited,” the problem.

The 2009 deficit alone has more than quadrupled under the Obama administration from Bush administration projections at the end of 2008, yet even in his admission on May 14 of ,”unsustainable,” deficits, Obama portrayed himself as a man who innocently received some bad news and was sharing it with the American people. Even the platform in which he was making the statement covered a subject which will only increase projected deficits.

Obama’s statement came during a Town Hall meeting in which he was discussing his Nationalized Health Care plan which promises to be yet another massive entitlement program that has not even been included in current deficit projections because the full cost of the program has not been determined since the legislation is still being developed and yet to pass the Congress in the form of legislation. The only money for his Health Care entitlement that has been mentioned is the $634 billion dollar, “down payment,” that has been discussed repeatedly by Obama.

The real numbers if implemented through legislation which the House has promised to be completed by the end of July will make the down payment look like chicken feed in comparison. Especially when one looks at the tremendous taxation and budgetary requirements for Health Care that are bankrupting Great Britain and Canada the two examples of Nationalized Health Care that Obama and other proponents refer to when discussing the plan being developed by Congress.

Also current deficit projections and spending does not include a myriad of other programs that Obama plans on seeking legislative results including his Green House initiatives which will involve the government forking out trillions of dollars to change Americans infrastructure and energy usage to match Obama’s environmentalist dream of an oil free America well before the country is ready or able to handle the forced Obama change.

Harry Truman stated while President that, “the buck stops here,” and even had a sign on his desk which held this statement. Obama philosophy is that the buck stops anywhere but with him. He blames Bush for the deficits he has created. He blames Bush for the spending that he has expanded to record numbers. If the toilet were to back up in The White House I am sure that Obama would blame Bush for that also.

Again Bush was not a fiscal conservative and his spending was ridiculous but Bush was a spend thrift compared to Obama. Since taking office four months ago Obama has spent more than Bush through his entire first term including war spending. Obama has actually spent more than Reagan through his eight year Presidency. Obama’s deficits total more that the cumulative total of all 43 Presidents before him.

So his contention that the,”unsustainable,” deficits and spending are inherited is laughable and the result of massive inflation is dangerous for our Nation. Only 6% of the ,”stimulus,” money has been spent and the inflationary results of money printing which continues in record amounts in not expected to start until Spring of 2010. Which will coincide with the surprise to tax payers next April 15th of the tax rate hike that was hidden in legislation that counter balances the, “tax credit,” that Obama has touted causing lesser tax returns than Americans will be expecting.

So the fain of innocence is over and it is time for Obama to accept responsibility for what he is doing through his spending and deficits to our children, grand children and great grand children. Not to mention the dollars that he is taking out of our pockets even as this post is being written. But Obama is not one to accept responsibility, especially when that responsibility entails bad news for Americans. It is easier to blame someone else than to take responsibility for bankrupting America with unsustainable spending and unsustainable deficits.

So he will continue to pass the buck. Continue to play the innocent recipient. Continue to refuse to take responsibility for his actions and record spending and deficits. And unfortunately continue to spend and spend and spend and spend, printing money like it is candy and sending our beloved country down a path to Socialism and bankruptcy !

Ken Taylor  http://theliberalslies.blogspot.com