--And of course, let's not forget the string of massive debts spent by Obama under the guise of "economic stimuli," including the $787 billion stimulus bill, the $410 billion omnibus spending bill (with 9,000 earmarks -- 60 percent Democratic in origin) and the $634 billion required for a down payment for universal health care (debt No. 4). And all of that doesn't include other so-called "economic stimuli" deemed necessary on the fed's horizon, as Daniel Inouye, the chairman of the Senate Appropriations Committee, noted when he called the mammoth $787 billion spending bill "stimulus No. 1."
--According to the Bureau of the Public Debt, as of Aug. 20, after just the first 19 months of President Obama's four-year term, the public debt grew to $8.83 trillion, an increase of $2.53 trillion.
This present administration promised hope and change, but all we are getting is more of the same.
President Obama spoke out of one side of his mouth a while back when giving financial advice to the people in New Hampshire. "When times are tough, you tighten your belts," he said. "You don't go buying a boat when you can barely pay your mortgage. You don't blow a bunch of cash in Vegas when you're trying to save for college."
But he then spoke out of the other side of his mouth when he informed the American public that he was proposing a record-breaking $3.8 trillion budget for fiscal year 2011, which equates to spending $7.3 million a minute. (The federal budget was only $1.9 trillion in 2001.)
It has been estimated by watchdog organizations that the government wastes nearly $1 trillion every year. That is a staggering amount, especially when one considers the annual federal budget is roughly $4 trillion.
Even liberal media predicted that Obama's spending would "leave a string of deficits dwarfing any in the nation's history." And they were right.
If our country is to survive, let alone again thrive, we must elect only those who show proof of fiscal discipline, refuse under all circumstances to increase our national deficit, disdain special interests, commit to pass and live under a constitutional amendment for a balanced budget, and would cut spending radically.
Time is running out, but it's not too late to reverse Washington's fiscal frenzy. But you only have a couple of days left to register to vote, if you haven't already. Check your state's registration deadlines at http://www.register-vote.com. And you can download the voter registration form for your state at http://www.eac.gov. Click on "Resources for Voters" and then "Register To Vote."
The future generations of America are counting and depending on us.
(Next week, I will give a specific plan and strategies for reining in and cutting federal spending. For a more exhaustive treatment of that plan based upon our Founders' fiscal prudence and wisdom, please see the chapter titled "Stop America's Nightmare of Debt" in the paperback expansion of my latest New York Times best-seller, "Black Belt Patriotism.")