Barack Obama told the press corps today, “The US is not a deadbeat nation.”
Then Obama promptly missed the deadline for sending a budget to Congress.
There are so many things wrong with that…
1. In 2006, Obama said that raising the debt limit was “a sign that the U.S. Government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies”.
Now failing to raise the debt limit and not pay the bills using financial assistance from foreign governments to finance his reckless fiscal policies is a sign that America can’t pay its own bills. By which he means his bills.
2. When you run up this high a debt, then you are a deadbeat. Turning the national numbers into a family income, Obama’s spending spree is the equivalent of a family with a $21,700 annual income running up $16,500 in new debt to be added to $142,710 in existing credit card debt.
If that’s not the definition of a deadbeat, I don’t know what is.
3. It’s not America’s debt. It’s America’s debt the way that it’s your debt when the bellboy runs up illegal charges on your credit card. And here the bellboy is accusing the hotel of being deadbeats unless they let him run up a lot more charges on the country’s credit card.
4. Obama isn’t proposing that America pay the bills, but that it borrow even more money that he doesn’t intend to pay back either.
Read the rest here.