If you still need evidence that the US government has been run for the past few years by someone who never actually operated a business, try this on for size: We just learned that Obama’s annual deficit for this year has come in at over one trillion dollars. Again. For the fourth straight year, the Federal government will run a budget deficit in excess of a trillion bucks.
That’s “trillion,” with a “T.”
That deficit doesn’t seem to bother the President very much. But no matter how pretty you talk, no matter how you play with the numbers, no matter how good you look on TV, that’s a pretty big credit card bill to drop on future generations.
Here’s why a trillion-dollar-plus annual deficit should bother you:
We are currently borrowing roughly 40 cents of every single dollar the Federal government spends, and that number is trending up, not down. (Translation: The Chinese are now the lead investors in the US government.)
A baby born right now owes more than $46,000 to the government’s creditors. That number, too, is going up, not down.
It took our country more than two centuries — from 1776 until 2008 — to accumulate the same amount of debt that President Obama is on track to create in his first term.
This is what happens when you put a politician in the White House instead of a businessman or a businesswoman.
You can’t run a company on the principle that you can spend money you don’t have, in larger and larger and larger amounts, indefinitely. But that’s how Obama and his friends in Congress are trying to run this country.
Bottom line: Under Obama, we are following policies that are unsustainable. We are headed for a cliff. And we have to do something, right now, unless we want to head over the edge of that cliff.
We have got to get our fiscal house in order … and balance the damn budget.
The time has come for us to pass a Balanced Budget Amendment to the United States Constitution. Mitt Romney is on the record in support of the amendment. Barack Obama isn’t. As far as I’m concerned, there’s the whole election in a nutshell.
Do you support the Balanced Budget Amendment? Why or why not? It’s my blog, but your voice. I want to hear you.
The Heritage Foundation: CBO Budget Update: Historic Deficits Continue, Recession Threatens in 2013
Rick Berg: Balancing the Budget
Mitt Romney: Fiscal Policy
Americans for a Balanced Budget Amendment: Balanced Budget Amendment