Yesterday, the U.S. national debt passed $16 trillion. On President Barack Obama’s watch, the debt has increased by 50 percent, as campaign promise after campaign promise has drowned in a sea of federal spending.
When he was running for President, Obama condemned George W. Bush for adding $4 trillion to the national debt over eight years, calling it “irresponsible” and “unpatriotic.” Now—in less than four years—Obama’s Administration has already added almost $6 trillion to the debt. That means he is on track to tripleBush’s debt increase over eight years.
Americans Forced Down By $Trillions Of Newly Printed Dollars ~ Must Be Paid Back With Interest!
The American spirit is rooted in the belief of a better tomorrow. Its success has been due to generations of men and women who toiled, through both hardship and boom times, to make that dream a reality.
Most Americans know that our nation is spending more than it is taking in (the deficit). Though many on the Left do not seem to understand (or care about) the consequences of out of control spending, most Americans do know that the nation has America has over $16.5 trillion in debt–or, nearly $53,000 of debt for every man, woman and child.
While Jesse Jackson Jr. feigns a headache to avoid prosecution due to Jackson promising Blagojevich — through emissaries — $1.5 million in campaign contributions. Jackson resigns from Congress [Thugs being rotated in and out of offices at record breaking speed]
It is a sorry place at which we Americans find ourselves this none-too-festive holiday season. The biggest names on Wall Street have gone to their rewards or into partnership with the U.S. Treasury. Foreigners stare wide-eyed from across the waters. A $50 billion Ponzi scheme (baited with, of all things in this age of excess, the promise of low, spuriously predictable returns)? Interest rates over which tiny Japanese rates fairly tower? Regulatory policy seemingly set by a weather vane? A Federal Reserve that can’t make up its mind: Is it in the business of central banking or of central planning?
The Federal Reserve System is a government-sanctioned private enterprise that functions as a socialist tool.It was conceived in 1910 and constructed for the benefit of the private bankers who control it. Congress blessed the scheme in 1913 with passage of the Federal Reserve Act. Continue reading →