All day yesterday the radio was talking about how President Obama was making some hard choices in his new budget, and that he was making some serious cuts in spending. It sounded so good that he was on the right track to get us moving toward being in the black with our nation's finances.
But, oh, just like the Devil is in the details, so is the truth always in the fine print. Here is something the New York Times points out that makes one think that Obama's numbers don't quite add up.
So, President Obama is talking about cutting just a bit over $1 trillion dollars from the budget. However, every year Washington is spending a trillion dollars more than we take in. Even using White House numbers, under Obama's plan we are going to be over $7 trillion farther in debt in 10 years.
Most Americans want to get to the point that our debt is no longer going up. In fact, I believe that most Americans want to see a reduction, and a big reduction in our national debt, and President Obama is growing that debt. Does that make sense to you?
We are in trouble right now with our debt, and if President Obama has his way with the budget, we are going to be in even deeper trouble. Some politicians still believe we can spend our way out of debt. Man I wish that were true.
Some day, and most think not that far in the future, our creditors are going to say, "That's it; we are not loaning you any more." At that point if they don't call in their loans, we will have to cut what ever our deficit spending is all in one year, and that will lead to chaos.
Of course Obama's plan, and the plan of our current crop of politicians is that they will be out of office by then, and then it will be someone else's problem. Obama's numbers don't add up, because they are not supposed to add up. He is going to continue to spend money we don't have, and see how long he can do it. That is the plan.
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