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“We’re not going to save our way out of this recession. We’ve got to spend our way out of this recession.” – U.S. Majority Whip Jim Clyburn
Just days before Congressman Jim Clyburn had the “audacity” to admit what D.C. politicians were actually doing with our tax dollars, U.S. President Barack Obama had the cowardice to continue concealing government’s unprecedented generational larceny.
“It is critical that we rein in the budget deficits that we’ve been accumulating for far too long,”
Obama said in unveiling his latest effort to distract American citizens from a looming fiscal Armageddon. After proposing a so-called “budget freeze” in his State of the Union speech, Obama rolled out the “Mother of all Boondoggles”, a $3.8 trillion spending plan for the coming fiscal year that includes a record $1.6 trillion deficit (on top of the $1.4 trillion deficit government will run in the current fiscal year).
By the end of this month, the Treasury now projects that the U.S. will hit its $12.4 trillion debt ceiling, coming on the heels of a vote last week in the Senate to raise the debt ceiling from $12.4 trillion to $14.294 trillion.
And just this week, Moody’s warned that the nation’s Triple-A rating could be in jeopardy
“if the current upward trend in government debt were to continue and become irreversible”...
[Americans need to read this > ]
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