Really, Really, Really, Really, Really, Really, Really, Really, Really, Really, Really, Really, Really, Really Big Goverment
Jake Tapper writes on ABCNews.com that Obama signed the bill into law raising the public debt limit from $12.394 trillion to $14.294 trillion:
Check out the National Debt Clock, which tells you your share of that -- roughly $40,000 per citizen, $113,000 per taxpayer.The bill also establishes a statutory Pay-As-You-Go procedure requiring that new non-emergency legislation affecting tax revenue or mandatory spending not increase the Federal deficit - in other words, that any new spending or tax cuts be paid for with new taxes or spending cuts.







Obama doesn't think money is for real. He's never earned any, and doesn't spend time with anyone who has. When people of his ilk need money, they pick up the phone and someone sends it over.
Money, to his tribe, is just a reason to go talk to someone, and push their buttons and open their wallets, which is not a terrible burden. (It's not like money represents work or anything.) So he's being true to his school. He sincerely doesn't think he's hurting anyone. (At least, no one he cares about.)
He's a monster.
Crid [CridComment at gmail] at February 14, 2010 11:03 AM
Obama has never made a payroll. CEOs and other executives learn to balance debt and equity in funding company activities and investments. They learn quickly that debt as a source of funds has limits.
When a CEO goes to the Board of Directors and asks to increase the company's debt level, he must explain why he is borrowing money instead of cutting expenses or raising funds in some other way - and he must detail what plans he has to pay off that debt.
Governments, on the other hand, simply raise taxes or borrow money without regard for the consequences. Inflation's coming. And it won't be pretty. And it won't be Bush's fault.
Obama's total lack of executive experience is going to do major damage to the US economy. And not one of his advisors has enough nerve or clout to get around his arrogance and give him an attitude adjustment.
And impeaching him is not an option. Joe and Nancy also have no executive experience and have been cheering him on in making his mistakes.
Conan the Grammarian at February 14, 2010 11:29 AM
"-- in other words, that any new spending be paid for with new taxes."
There. Fixed that for ya.
Cousin Dave at February 14, 2010 12:10 PM
Again, gas pedal mashed against the floorboard while hyperinflation is looming in the near distance.
One must question if he is either 1) Inexplicably blind and inept or 2) deliberately trying to bust the dollar and deepen the recession.
Feebie at February 14, 2010 1:39 PM
Feebie - does it really matter when the end result is the same?
brian at February 14, 2010 2:34 PM
Does someone want to say what happens when the interest rate on the national debt exceeds tax revenue?
No.
But this isn't a President's job, other than to champion a cause. It's Congress's job.
Tell your friends, in ways they will understand. Just this week I had a guy at work deny what is writen in the Constitution because he thought I was attacking his idol.
Radwaste at February 14, 2010 4:47 PM
It's mind-boggling. But it's also business as usual in Washington; Obama and his are continuing the ramp up in debt that has been accelerating since LBJ.
And to continue on with Rad's point, ultimately it is the American public's fault. We want more and more, but resent having to pay for any of it. In this day and age, wouldn't it be wonderful if all taxpaying citizens were allowed to vote on a regular basis whether any major expenditure was worthwhile? Then again, maybe it wouldn't.
Eric at February 14, 2010 5:29 PM
Yes— I am seriously starting to wonder if taxpayers should get a little extra electoral juice.
Crid [CridComment at gmail] at February 14, 2010 7:32 PM
A fairly significant number of tea party activisits are people concerned about the fiscal problems they foresee as a result of the Obama stance on public spending.
Frankly, I really should run for office after I leave the military.
Quick, someone come up with a vague meaningless slogan like "Change" or "Yes we can!" for me.
(Don't worry about what I'd change, or what we can do, let alone how.) (Pay no attention to the man behind the curtain)
Robert at February 14, 2010 8:02 PM
He's not a monster, he's well meaning. That is much much worse.
Robert at February 14, 2010 8:07 PM
Same thing! Same thing!
Crid [CridComment at gmail] at February 14, 2010 8:52 PM
I think most of America has lost all meaning of money. Obama's promising $200 million to pay for security FOR ONE TERRORIST TRIAL. Seriously-$200 million dollars. It's like it's play money to Washington. Billions, now trillions, no big deal. I find it terrifying. Almost terrifying to teh point of putting all our investments in actual gold and actual diamonds hidden in the floorboards-to easily take with us when we flee this country. Almost.
momof4 at February 15, 2010 5:01 PM
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