An Ol' Broad's Ramblings

Self Centered Politicians

15 February 2013, 8:23 am. Comments Off. Filed under Economy, Opinion.

You hear the Dims whining, on a regular basis, that the Republicans, the RIGHT, the conservatives, don’t care about children. Well, quite the opposite is true! It’s the Democrats who don’t give a flip about children!

It’s the Democrats who advocate murdering millions of children, especially in minority neighborhoods, not the Republicans.

It’s the Democrats who push for more spending in education, even though the money they want to spend never reaches the classroom, and our children are dropping out of school at alarming rates, especially in the minority neighborhoods.

It’s the Democrats that push for more ‘entitlement’ spending (even though no one is entitled), that increases the cycle of poverty, especially in minority neighborhoods.

It’s the Democrats who believe that putting children in debt is a good thing, even though said debt decreases their chances of finding gainful employment when they grow up, will increase the cost of EVERYTHING, and likely your children won’t be able to buy an egg, much less a steak, for their own families.

Today’s Democrats are the most selfish, greedy, and irresponsible creatures on the planet. They prove it daily. They hate children! Especially YOUR children. The children of the Dems, and most Republicans, as well, in Congress will do just fine, since they will be leaving them the fortunes they’ve made while sucking at the teat of the Joe Schmo, American taxpayer. No, it’s our children, yours and mine, that will be paying the price of the Uriah Heeps (the character, not the band).

Why Should I Care About the U.S. Debt?
The Foundry

You’re busy. So busy you barely have time to read these words. So why should you care about the U.S. debt? Does it affect your life?

Unfortunately, high government debt is having more of an impact on each of us than we realize. Heritage’s Romina Boccia explains that high levels of federal debt are linked to all of these problems for Americans:

Higher interest rates on mortgages, car loans, and other loans. For many people, this means having to wait to buy a home. High interest rates on loans can prevent people from getting a loan to start a business, make home improvements, or further their education.

Higher inflation. We’ve already seen food prices rise over the past few years. Higher inflation hits the poor and middle class hardest, because hard-earned dollars don’t go as far. Food, clothing, and medical care all cost more. Seniors who are living on fixed incomes can see their savings dwindle. People who are in the middle class can start slipping toward the poverty level.

Keeping the economy down—and driving it down further. Deficit spending by the government is not separate from the economy; in fact, it drains money from private savings, which means fewer people are investing in the economy. In short, high debt kills jobs. It lowers wages and salaries as it drags the whole economy down.

Boccia notes that “Publicly held debt in the United States will exceed 76 percent of gross domestic product (GDP) in 2013, and chronic deficits are projected to push U.S. debt to 87 percent of the economy in 10 years.”

By the time today’s 6-year-olds are driving, the level of the U.S. debt will be teetering on 90 percent of the entire economy. Research shows that economies that reach this level suffer from long downturns in economic growth.

That’s the last thing we need—unemployment has already been stuck in neutral for the past four years, and our economic growth has been sluggish. The Congressional Budget Office has warned that “growing federal debt also would increase the probability of a sudden fiscal crisis” that would “probably have a very significant negative impact on the country.”

It’s difficult to imagine a nationwide strike in America that would ground all flights and shut down all services. Or an exchange of Molotov cocktails and tear gas between protesters and riot police. Or protesters torching banks, resulting in the deaths of innocent bystanders. That’s where Greece’s debt crisis took that country—eventually, Greece’s lawmakers had to start making the tough decisions and cutting back on spending. The cuts were painful, and the citizens revolted.

This is the track we are on. Right now, cutting spending and reforming entitlement programs in a gradual and predictable fashion may not be politically popular—but as Greece teaches us, waiting until a crisis forces lawmakers to make much more drastic policy changes can end badly—very badly. Our lawmakers should learn the lesson Europe is teaching us: Procrastinate on this massive debt at your own peril.

Boccia warns that “U.S. public debt is far too high at more than three-quarters the size of the economy—and growing federal spending, especially on entitlements, is quickly driving debt to damaging levels.” The solution is that “Congress and the President should take firm and immediate steps to balance the budget within 10 years, by cutting spending and reforming entitlements.”


How the United States’ High Debt Will Weaken the Economy and Hurt Americans by Romina Boccia

Budget Cuts Would Not Harm the Economy by J.D. Foster

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