Friday, July 30, 2010

"Intervention!"

Do any of you know someone with an addiction? It isn't a pleasant situation. Families are torn apart, health, finances and sometimes lives are sacrificed in the fight against an addiction. Commonly, we think of alcohol and drugs when we address this issue. Those are the most visible addictions. Most of us now have computers in our homes, a most valuable tool, also a gateway to pornography. There are people who spend countless hours "clicking" across the Internet at one porno site or another; this is a legitimate mental disorder (get a girl friend). Some folks have a shopping addiction (not you honey), they can't wait to run to the mall and buy, buy, buy until they are buried in debt with no way out. Food is a huge addiction, especially in America; doughnuts, burgers, pizza, hot dogs, chips, nuts, candy and buffets on every corner contribute to this addiction.
Over the last several months, we have seen the results of a deadly addiction, spending the taxpayer's money with wild abandon. Stimulus, health-care, bail-outs add up to a debt crisis that is unsurpassed in the history of the United States; yet, our President, wants to continue on this road to financial oblivion. We are rapidly moving toward an unsustainable debt crisis that can turn us into the next Greece.
On July 1, 2010, the Congressional Budget Office ("CBO") (non-partisan) said "...national debt would soar to 87% of the Gross Domestic Product by 2020, and exceed its historical peak of 109% by 2025 and hit 185% by 2035...uncharted territory.." On July 27,2010, the CBO states our intergovernmental debt will exceed 200%; the debt we owe to foreign governments (Communist China). This debt could be called in and it would be "due and payable". The CBO also stated "...increases in taxes would now probably slow the recovery...the longer debts and deficits go unaddressed, the greater the risk of a crisis..higher interest rates, more foreign borrowing, less private investment and lower income growth (will lead) to the possibility of a full blown fiscal crisis (Greece).
We now have 14.6 million Americans without jobs; the newest job figures show 457,000 NEW applications for unemployment benefits. Obama-nomics are not working, yet his administration's addiction to spending will not cease. Germany, France, and even Sweden have been critical of Obama's direction of the American economy; yet, in his arrogance, Obama refuses to see the disaster which is ahead. We will soon lose the Bush tax cuts and potential investors will be unable to help our economy grow: that double-dip recession will soon be a reality. As Americans, we need to have an "intervention" for Barack Obama, his addiction is making America sick; and it could be fatal!

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