Tuesday, June 15, 2010

Obama: "We cannot consign our children to this future." ....Seriously?

Crocodile tears and a breathtaking quote from the President tonight in his prime time speech about the Deepwater Horizon disaster:
We cannot consign our children to this future.
Of course, Obama was referring to the "menacing cloud of black crude" that encroaches on the shores of the Gulf Coast.  He conveniently discounts the crippling financial manacles placed on future generations of Americans by the blatant reckless spending of the Democratic majority.  From US News & World Report:
It is a measure of the nation’s economic illiteracy that the most recent debt projections have not received more coverage. Sure, most people can tell Karl Marx from Harpo but it is highly unlikely that they can distinguish between Adam Smith and Will, even if he were to bite them on a visible hand.

As reported Friday by Bloomberg, the total United States debt under President Barack Obama is poised to explode past its statistical post-war norms to a point where it “exceeds the value of the nation’s annual economic output.” Total federal government debt rose past $13 trillion for the first time in June 2010 and is on track to surpass U.S. Gross Domestic Product by the year 2012, according to projections just issued by the International Monetary Fund.

Part of the problem is that the U.S. economy is not growing. The stimulus spending that President Obama and the Democrats who control Congress said would solve the problem and bring about an early end to the recession has not worked as advertized, leaving unemployment figures at their highest point in decades and doing little to spark productive economic activity.
All government funding comes from the private sector.  The government does not and can not create wealth.  Government union membership now exceeds that of the private sector.  Government employment rates exceed that of the private sector.  Government employment growth exceeds that of the private sector.  Government wages exceed that of the private sector.

When the federal government declares war on the private sector, there are only two inevitable consequences:  insolvency and collapse.


  1. Yeah... I was definitely scratching my head at that. Good post, Mama.

  2. It is a sick state of affairs We are faced with currently as a Nation,print money and live in Disneyland,We will never see the World the same, trillions and still creating illusions for the set up of a soup line nation.sacrifice to save is the mentality. What about Priorities reality tomorrow a sense of economics a little history lesson. When the bubble burst and incompetents leads disaster is near. "GREED and FEAR"is what I see in the worlds eyes. Love the Blog first time for Me and Great picture With Alex and Hope all the Family is Well.

  3. Thanks, Lamar! It's good to hear from you. That picture always lifts my spirits.

    Thanks for stopping by my blog.