Celia Bigelow
Breitbart.com
Big Government
19 Feb 2013
For two months, reporters and lawmakers have ignored a devastating report from the federal government itself, which warns that the nation’s current fiscal policy will lead to economic collapse.
The Government Accountability Office (GAO)—the personal auditor of President Obama and the federal government—released its assessment of the federal government on January 17, 2013. The report’s findings illuminate just how dire America’s spending problem is and, therefore, how little the current cuts debated by Congress do to fix it…
…While President Obama and his media allies boast from their ivory towers that America “doesn’t have a spending problem” but rather a “health-care problem,” they are sweeping reality under the rug and spouting lies to the American people.
This is the reality: when President Obama’s personal auditor says the federal government has a spending problem, it indeed has a spending problem—and one that is growing rapidly.
The most devastating part of the report is the fact that the federal government must run surpluses over the next century to keep the same debt-to-GDP ratio it has today. Meanwhile, Congress and President Obama are throwing a fit over the looming sequester—which will cut a mere 1.2 percent of total deficits (not total debt) over the next ten years—and the Senate has not produced a budget for close to 1,400 days.
A balanced budget will not be enough to cover the rapid growth of interest payments owed on U.S. national debt in the future…
The complete article is at Big Government.
Related: Obama To Push For $50 Billion In New Stimulus Spending…
Could this guy be any more out of touch?
Because… Obama: I’m Pushing As Much Of My Liberal Agenda As Quickly As I Can….
President Obama told a San Francisco reporter that he is pushing so many legislative agenda items at once — from immigration reform and gun control to a tax-code overhaul and infrastructure spending — because he may only have this year to accomplish them…
