I am writing this because I was asked a question by a Democrat friend of mine. It was in regard to the newly released report by the CBO that we can expect a $1.5 Trillion dollar increase in our national deficit for 2011. It will jump our debt from the current $14 Trillion to $15.5 Trillion. The question was phrased as ” $4.2 Trillion < $14 Trillion to begin with. Where was everyone when that deficit was getting bigger and bigger before Obama got there?” Needless to say, I have an answer and it’s not a short one either. So, here goes nothing… For me, this was just like the scene with Will Ferrell in the debate with James Carville from the movie Old School. Afterwards, I had to collect myself because I had no idea where all of this came from… LOL
Uhh… the debt when he came into office was not $14 Trillion dollars. It was just over $11 Trillion dollars. And it was around $8.7 Trillion dollars when Pelosi took the Speaker of the House office, so it is easily traceable that this administration and the current Democratic Party platform has increased our debt by just short of 40% already since 2007. So I ask… where is the outrage? It took us more than 200 years to get to $8.7 Trillion dollars and three more years to get to $14 Trillion dollars. Add one more year and the projected debt will be $15.5 Trillion or $7 Trillion dollars more than 2007… all under Pelosi/Obama policies. Don’t scapegoat anybody but the ones who have forced the agenda over the last 3(going on 4 now) years. They are accountable, pure and simple. For the first 18 months, we heard it was Bush’s fault… Why is it still getting worse? It is now accelerating.
To properly demonstrate your mathematical equation, you should have stated $4.2 Trillion < $8.7 Trillion because that would demonstrate the difference before Obama and after. However, with the projected budget deficit for 2011 by the CBO, the new equation will be $5.7 < $8.7 and again the the same answer… $8.7 Trillion over 200+ years versus $5.7 Trillion over 4 years.
Let me also quote Pelosi upon becoming the Speaker of the House… “After years of historic deficits, this 110th Congress will commit itself to a higher standard: Pay as you go, no new deficit spending. Our new America will provide unlimited opportunity for future generations, not burden them with mountains of debt.” The key part of her statement is, “no new deficit spending” and that was $4.7 Trillion dollars ago.
So, if the real question is, “Where was everyone when the deficit was getting bigger and bigger before Obama got there?” then I guess you would have to ask everyone over the last 200 years who lived under a slow growth rate of the deficit as opposed to those of us who have seen the rate of growth explode in just 3 years. It’s this unheralded exponential growth that has caused alarms to go off in everyone’s heads. It has much less to do with Republican versus Democrat and more to do with reckless policies and out of control spending under Obama.
My question is why are the Democrats so selectively ignorant to the spending of this one President? This is why we have such partisan animosity in America now… The people have wrapped themselves around a President regardless of what he is saying, doing, or spending money on. It is pure ignorance to think that you can “invest” without spending more money, yet that is what he said last night… no more spending for 5 years but we need to invest in high speed rail, green energy technology, education, entitlements like Obamacare and of course, allow for more benefits for the illegal immigrants in America. Investing in those ideas is actually spending money and is growing the debt further. It handcuffs all of our ability as citizens to produce viable economic growth because we will yet again face tax uncertainty in order to fund pet projects.
While those projects may be worthwhile to some or many Americans, they are not feasible when you look at the American check book. We don’t have money for them now. Maybe if the goal was to actually lower the debt(deficit is how much more we spend then we take in and not debt which is how much we owe) and thereby decrease our overall debt to foreign countries, we could begin to implement those programs or agendas. However, that was not the case… we were forced into increased spending on these big ticket items that only take more money and don’t produce any money thereby strangling the budget for everything else. Now federal jobs such as my friend Tim’s geological survey job are on the line because the cuts have to come from somewhere to support these new programs. It is a vicious cycle that we have been forced into, in just 3 years. The only way to end it, is to remove all of the big ticket items, recall the stimulus funds that remain hanging in the balance, end a bunch of entitlement programs altogether while pushing back others, cut all discretionary spending, force union pensions to be peeled back to aid in the state level budgets… or else, it’s time for the Democrats to step aside altogether. Our nation depends on these changes to happen for it’s survival. These changes reflect the policies of the last 3 years alone.
We can’t look at where we’re going without knowing where we went wrong. We must look at our errors to fix the future or else we won’t have a future. Our country is ours to safeguard for the future generations, not for us to live it up on and leave it spent for the next ones to come along and deal with. It is our duty to take what we were given and to leave it better than the way we found it. Instead of taking from it, we must build it…. Spending is taking from it and we have taken too much in 3 years.
Also for comparison’s sake on the growth of our deficit:
Newt Gingrich was the Speaker of the House from 1995 through 1999 and during his time the deficit grew from $4.8 Trillion to $5.6 Trillion in four years. That’s a total of a whopping $800 Billion over 4 years and a mere $200 Billion a year.
Following him was Dennis Hastert(another Republican) who exploded the deficit from $5.6 Trillion to the $8.7 Trillion over his 8 years as Speaker(1999-2007) and that makes $3.1 Trillion over 8 years or about $387.5 Billion a year.
By comparison, Nancy Pelosi spent more than $5 Trillion in her 4 years as Speaker. That is an average of better than $1.25 Trillion a year.
Those are the numbers that would most likely be relevant to answer the “why now as opposed to before.” If one looks at just the last 15 years of debt growth, the larger percentage(better than 55%) occurred in the last 4 years of the 15 year segment.
That might be the cause of the outrage!