Obama’s Deficit Roulette: Spend Now and Pay Forever

Posted: Sep 01, 2009 12:02 PM
Obama’s Deficit Roulette: Spend Now and Pay Forever

Every improvement is the result of change. Not every change is an improvement. The Obama administration’s aggressive plans to change America are not an improvement. He keeps saying his plan to transform our tax and economic system, our health system and our energy system are essential to inventing a vibrant future for America…in the absence of any evidence that his plan will or is working. He calls those who resist his changes radical, out-of-touch, Fox News-driven conservatives who only want the status quo. Most who have joined the chorus against his plans at town hall meetings and tea parties are not extremists or mobs. They’re informed citizens waking up to what is happening in Washington, and they’re furious about the damage being done and the deficit roulette future generations will face.

President Obama loves to promise new entitlements but refuses to address how he will pay for all this government largesse! The current deficit is over $11.7 trillion. Visit usdebtclock.org and watch your share of that debt grow by the second. The White House itself projects $9 trillion will be added to the deficit between 2010 and 2019. The Congressional Budget Office, taking into account the end to the Bush tax cuts, estimates only $7 trillion. Visit cbo.gov/ to understand the deficit projections and the Social Security shortfall that is anticipated.

What’s worse is that these projections are way too rosy. The Wall Street Journal editorial board warns: “Many of the current budget assumptions are laughably implausible.” His plans won’t save money; they’ll just explode our debt. His motto seems to be “Spend Now and Pay Forever!”

Mr. President, stop making expensive promises for more entitlements, more cash for clunkers of any kind, more stimulus packages, more cash for first time home buyers and more bailouts for companies that deserve only to go bankrupt. Giving away money may be popular with those receiving it, but you don’t seem to care about the tax payers who will be paying for the massive debts you are unleashing.

The president keeps assuring us that his plan will turn our economy around. Are things getting better? The stock market is up from last year’s lows. Home sales have increased mainly due to first-time home buyers helped by government subsidies. Car sales in August have soared as long as you have a clunker to trade in. Unemployment remains high and private job creation remains stagnant. Consumers are buying but only what they need and when sales are too great to pass up. With the uncertainty President Obama’s actual and proposed changes have created, people won’t spend until they know when Obama’s bill comes due! Are you better off since President Obama took office?

The President keeps talking about the “myths” his opponents are spreading about his constantly morphing healthcare plan while he continues to misinform. He keeps saying you will be able to keep your private plans. But how can private insurance companies compete with a public healthcare plan when they won’t be able to decline coverage or raise the cost of coverage? If you increase costs and can’t increase revenue, private companies will go bankrupt! Federal plans don’t go bankrupt; government just prints more money or adds to the deficit! Obama’s public-funded plan will mean the end of private healthcare coverage and the beginning of a government-controlled, single-payer system.

When low-cost or free healthcare coverage is available from the government, businesses and individuals will rush to that plan faster than clunkers have raced to auto dealers with a deal! When Hawaii passed a plan to provide coverage for children without healthcare, so many parents who had been paying for insurance cancelled their plans in order to take advantage of the “free care” that exploding costs forced the state to cancel the plan. Obama won’t settle for a safety net for the poorest of the poor; he wants a plan big enough to catch every fish out there!

The current political war to determine the future of America is becoming more partisan and vicious. With politicians spewing meaningless promises and calling opponents names while moving at breakneck speed to pass plans they don’t even take the time to read, there is no wonder so many citizens are furious. This isn’t a political argument over how best to improve a free-market economy with some targeted regulatory controls. This, as former Vice Chairman of the CIA's National Intelligence Council Herbert E. Meyer has said, is a “revolution” that is changing America’s “operating system” from a predominately free-market economy to a government-controlled economy.

Yes, I know that Social Security, Medicare and the US Postal Service are already government-controlled programs. Case closed! None of them are operating in the black, and all are in constant need of additional funds and cutting services to stay afloat. Government deeds don’t match Obama’s words. Join the chorus of Americans who have realized that we don’t want to be the ones who saddle future generations with a deficit they can’t afford!