“Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better.” – Sen. Barack Obama

In an interview on CBS Obama threatened to withhold social security and veteran benefit checks if he does not get his tax increase deal. “I cannot guarantee that those checks go out on August 3rd if we haven’t resolved this issue,” Obama said. “Because there may simply not be the money in the coffers to do it,”

Obama: “The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is 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. … Increasing America’s debt weakens us domestically and internationally. Leadership means that ‘the buck stops here. Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better.” -2006 the last stand-alone debt limit vote on which then-Senator Obama voted.

Obama has increased the debt more than all presidents from Washington to Reagan combined. Now he wants to spend more.

The only thing propping up our economy is the fact that the US is the best of the world economies that are all in crisis. Obama’s own bipartisan commission established to study the debt problem headed by Erskine Bowles and Alan Simpson co-chairs explained the dire consequences of continuing deficit spending and rising debt. Alan Simpson (former senator from WY)  said economic collapse will ‘be very swift and very dramatic’. When asked why the markets haven’t reacted to the US being on the precipice of collapse, Erskine Bowles said its because the US economy is  “the best lookin’ horse in the glue factory.”

Former Treasury Secretary Rubin said the debt crisis could explode any minute. Secretary of State Hillary Clinton told the Council on Foreign Relations that our national debt is a national security risk echoing previous statements by Joint Chiefs Chairman Admiral Mullen, head of U.S. intelligence – Dennis Blair, and all of America’s intelligence agencies.

This has always been the Obama plan. Monstrous spending to redistribute wealth then raise taxes to pay for it.  Alan Greenspan said “Deficit spending is simply a scheme for the confiscation of wealth.” Obama and the Democrats know this.

Michael Whipple, Editor usACTIONnews.com

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