Sagging economy, $11 trillion in debt. Let’s just spend more!
By Chris Ingram
So, President Obama doesn’t want “big government,” he wants “smart government.” And he wants economic stimulus to get the economy moving again. Sounds like a well thought out and bold plan. You’ve got to hand it to him, he’s got a silver-tongue and he makes you feel good. Unfortunately Obama’s rhetoric and euphemisms won’t get us out of the economic crisis; and that “smart government” he speaks of is just a pork-filled spending bill to get Congressmen reelected. Getting out of this mess will require leadership, discipline, sacrifice, and hard work from Americans and their elected officials. These are qualities not currently found anywhere in Washington, D.C. — from either party.
As for the primary flaw with Obamalism, the devil is in the details.
Since Obama has taken office the Dow Jones Industrial average has sunk it record lows. Nearly every time he announces his latest “bold initiative” (i.e., more spending and more government intervention), the Dow drops a few more hundred points the next day.
While there are a number of issues, problems, and reasons for why Obamalism is likely to fail, the biggest flaw with the governement’s plan to fix things (and in fairness, was part of the problem with George W. Bush’s bailout plan as well), is this: debt.
We got into this mess because of debt. That is, Americans and their government assumed more debt than they could possibly ever pay back (the government has been doing this for decades of course). Government spending (under Bush and a GOP Congress) grew while Americans bought homes they couldn’t afford with easy money from banks led by people not fit to manage your checking account, much less an entire bank. Credit was king and our consumer economy grew with money financed by China so we could by products made in, well, China.
The victims of all this are our children who are already saddled with a national debt of almost eleven trillion dollars — money they will have to pay back for programs which they received zero benefit from. Currently the bill amounts to over $35,000 per person; that is, for every man woman, and child living in our country (legally) each one of us owes China or some sheek in the Middle East buying our T-bills thirty-five grand. We’re not exactly paying it down either. In fact, the debt grows $3.5 billion every day. I won’t even get started on the largest Ponzi scheme in the world: the U.S. Social Security System.
So now the cogitative response from Obama and the Democrat Congress is what? Take on more debt.
I’ve said this here over and over, it’s my favorite quote and it comes from Albert Einstein. “The definition of insanity is doing the same thing over and over and expecting a different outcome.”
Like electing the same self-serving clowns to Congress over and over again and expecting the very people who got us into the mess we’re in to get us out of it.
Kinda’ like rearranging the deck chairs on the Titanic isn’t it?
When will we learn our lesson?
Chris Ingram is CEO and partner of Strategic Solutions of Florida a political consulting company. He is also the president and founder of 411 Communications a corporate and political communications firm, and publisher of Irreverent View. Ingram is a frequent pundit on Fox News and CNN, and has written opinion columns for the Washington Times, UPI, Front Page Florida, and National Review online. E-mail him at: Chris@411Communications.net.