Deficits Are Shrinking? Then, Why Raise Debt Ceiling, Mr. President?
By John W. Lillpop
As President Barack Obama begins a series of speeches focused on his latest “Summer of Recovery” failure, he made a point of noting that deficits are SHRINKING.
Of course, the President was referring to the annual budget deficits, not the onerous $16.5 trillion dollar overall ball and chain that is being manacled to future generations of Americans.
That number ($16.5T) has been virtually ignored by Obama who would prefer that his legacy not be muddled with austerity and other responsible fiscal policy. Better, he calculates, to deny and lie and simply kick the deficit can down the road.
However, watching Obama willfully dance around the deficit mess, which he continues to blame on W. Bush, one would like to ask, If deficits are indeed shrinking, why in the hell are you seeking to raise the debt ceiling, Mr. President?
The truth is that Obama seeks a greater debt ceiling to accommodate even more wasteful spending on failed progressive policies! The same policies which are stifling economic growth and the creation of jobs!
When will liberals like Obama ever face reality?
Posted by John W Lillpop at 10:27 PM