Spending: Deficit shows no slowing signs
Some in Congress and President Barack Obama insist they will not tolerate conservative initiatives to get government spending under control. No doubt in mid-February, when Congress is asked to approve a new national debt ceiling, lawmakers will go along meekly.
But look at what has happened during just the past few years:
On Jan. 20, 2009, as Obama was being inaugurated for his first term, the national debt was $10.6 trillion.
It is about $17.3 trillion now – an increase of $6.7 trillion during only five years of Obama’s presidency. The debt now is more than the total value of all goods and services produced by Americans in a year.
Good heavens. This behavior is unsustainable. February might be a good time to stop it.