President Obama in Denial: We Don't Have a Spending Problem
Kyle Becker | On 07, Jan 2013
“At one point several weeks ago,” Mr. Boehner told Wall Street Journal writer Stephen Moore, “the president said to me, ‘We don’t have a spending problem.’ ”
Such began the divinely timed epiphany of Speaker Boehner that the president is an ideologue who perhaps can’t be reasoned with. Thus, the Speaker’s eyes were opened during the fiscal cliff negotiations that the president is out to draw political blood on Republicans, and really isn’t all-too-concerned about compromise. Well, unless you consider “compromise” making an outrageous offer and then getting 90% of what he wants.
Illustrating the severe plight America now faces due to being managed by a president with a severe spending problem, the Speaker relates what Obama thinks to be our real issue — skyrocketing healthcare costs. Don’t shake your head too hard out there, you might pull a muscle:
The president’s insistence that Washington doesn’t have a spending problem, Mr. Boehner says, is predicated on the belief that massive federal deficits stem from what Mr. Obama called “a health-care problem.”
Mr. Boehner says that after he recovered from his astonishment—”They blame all of the fiscal woes on our health-care system”—he replied: “Clearly we have a health-care problem, which is about to get worse with ObamaCare. But, Mr. President, we have a very serious spending problem.” He repeated this message so often, he says, that toward the end of the negotiations, the president became irritated and said: “I’m getting tired of hearing you say that.”
Isn’t that special? Well, we’re getting tired of paying for that… in terms of tax hikes, lost jobs, foregone opportunities, and massive debts that future generations have no hope of paying off.
As far as the sheer pegasus worthy flight-of-fancy that Obamacare is the solution for America’s increasingly expensive medical system, the pricetag for that
polished turd of trophy legislation is already three times what it originally was. That was way back in 2009, when Obama said that medical costs were going to “bankrupt” the nation.
The low-information voter might be asking himself at this point: Why is debt bad? Well, if countries stop loaning us the money to float the majority welfare state-induced debts, then that means the Federal Reserve has to buy even more than the 70% of government debt it is currently buying.
Is that bad? Yes, that ‘s bad — it sets up a hyper-inflation scenario, when there are tons of dollars being passed around to buy the same number of goods. This is grand for the U.S. government, when it comes to paying off its ridiculous debts, but it’s really bad for anyone who wants to maintain any savings. That’s not to mention it totally screws creditors, the evil bastards that make borrowing possible. In addition, hyper-inflation leads to massive economic uncertainty, which kills job creation and expansion.
The U.S. government has a spending problem, and the blame for it goes to both parties. Imposing burdensome taxes on nearly four out of five Americans is not going to make taxpayers forget that they are paying the price for the frivolous waste, crony corporatism, and pork-barrel spending of Washington fat cat politicians.