It's the Debt Stupid

The three top issues in this fall’s Presidential election
will be in order: the Debt, the Debt, and the Debt. Gay marriage, the phony “War
on Everyone” ,  free contraceptives for Georgetown Law students, who would have killed Osama, etc are all distractions President Obama is employing.

The National Debt is a monster that will have a negative effect on our economy and standard of living for generations. On January 20, 2009, when President Obama took the Oath of Office, our National Debt accumulated from March 4, 1789 to January 20, 2009 totaled $9 trillion. This number is ridiculously high. The Government Accounting Office (GAO) stated the federal deficit on December 31, 2012 will be $14 trillion! Furthermore, the GAO estimates, at current spending levels the deficit will double by 2015. It could hit that dubious number by 2014 if President Obama is re-elected and the Democrats recapture the House of Representatives and retain control of the Senate.

In only 4 years, President Obama will add $5 trillion to the National Debt half of what all presidents from George Washington to George W Bush have accumulated. Staggering when you think the United States fought two
world wars, the Cold War, Great Depression, Civil War, Great Society, Marshall
Plan, and on and on and Obama will double that number in 6 years.

Many people think the deficit is an abstract thing egghead economists
and dorky politicians argue about. The deficit will consume our budgets, force
interest rates for credit cards and mortgages to skyrocket will dry up available
credit, will keep businesses from expanding and hiring, and reduce our standard
of living.

Local governments will see their bonding power reduced thus reducing public works projects such as new roads, sewers, and schools. Pension plans for public employees will see further strain, tax collections will go down putting further pressure on those who do pay.

It is interesting one of the groups that support President Obama the most are young voters. It is today’s twenty somethings and teenagers that will pay the most staggering price for all of President Obama’s reckless spending. They will be the first generation in American history whose standard of living will be lower than their parents. Social Security and Medicare will be a shadow of its former self, capital necessary to buy a home or start a business will be unattainable, good paying jobs few and far between.

Meanwhile, in the short term, what has all this spending got us? Unemployment is still over 8%, Underemployment at 17%, fewer Americans are in the U.S. labor force than in 1981. Although the private sector has been adding jobs of late, those jobs are not paying anywhere near the jobs that were lost, and those who have kept their jobs are making much less than in 2007.

The election results from France and Greece, and pre-election polls in Germany favoring candidates advocating more government spending, benefits, and dependency winning, will encourage President Obama and his liberal allies, meaning more debt if the Democrats win in November.

President Obama will use any issue to distract voters from the economy and the debt. Gay marriage? Lets be frank, President Obama has always been for gay marriage, he didn’t have the courage to admit it before. Every day the media and public is talking about any issue other than the debt, is one less day to talk about the debt.