By William L. Garvin
"The fact that we are here today to debate raising America's debt limit is a sign of leadership failure….Leadership means that 'the buck stops here.' Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better. I, therefore, intend to oppose the effort to increase America's debt limit." Senator Barack H. Obama, 2006
Once again we have proof positive that the Emperor has no clothes. If he is ever to acquire some, they will have to be completely reversible! Isn't it amazing how easily our President changes positions? In 2006, he used his dulcet tones to argue his "principled opposition" to raising the debt limit for President Bush to $9 trillion. But that was then and this is now. To this President, adding another two or three trillion dollars to the staggering $14.3 trillion debt is no longer because of "bad choices" or bound to break the backs of coming generations or a "failure of leadership."
There is no question that the President's economic program has been a failure by every objective measure. The "misery index" is at its highest point ever. Despite massive socialist-style government spending, unemployment is up; inflation is up (despite Bernanke's deceitful redefinition); the number of people on food stamps is at an all time high; foreclosures are at frightening levels while housing and consumer confidence is in the toilet. It is insane to continue down this path of abject economic failure but in his obsessive quest to "redistribute the wealth", that's exactly what he intends to do. Just say no!
However, the current debt limit imbroglio has served to shatter some popular myths. First, the President is not "cool" and "temperamentally suited" for the presidency. He has shown himself to be petty, petulant, pouty, pompous and predictable. He says everything is on the table and has theoretically proposed $4 trillion dollars in cuts, but as of this writing he has not identified a single specific program cut! Not one! How about ObamaCare? Most Americans want it repealed and we could save a trillion dollars! How about reducing your bloated federal workforce just as state and local governments have done in order to balance their budgets? How about rescinding all those massive pay raises you gave to White House staffers?
The President also effectively destroyed the Social Security Trust Fund myth. Since he could not guarantee that Social Security checks would go out, there is no "lock box"; there is no "trust" fund. The $2.6 trillion in Social Security assets have been hijacked and diverted to other government programs. However, his statement also revealed where his priorities lie. His Senate puppet, Harry Reid, tweeted: "If we don't reach agreement, it could mean no Social Security checks, no paychks for troops, no schools for our children." Monthly interest on our debt is $29 billion. Social Security costs $49.2 billion. The feds only provide $11 billion in educational funds and our active duty military costs $2.9 billion for a total of $92.1 billion per month. The government receives nearly $200 billion in revenue each month. Do the math! There is more than enough money to avoid default UNLESS THE PRESIDENT CHOOSES NOT TO! Also keep in mind that August 2d is about the sixth or seventh mythical "deadline" that Tiny Timmie Geithner has invented.
To distract from their failures, Democrats resort to the predictable and reprehensible scare tactics. Democrats took $500 billion out of Medicare to pay for ObamaCare then lie that it is Republicans who are trying to destroy the program. Again, it's not surprising that the President would throw seniors under the bus. After all, this is the same President, the Commander in Chief, who would not guarantee that our troops would be paid during budget negotiations earlier this year. That was a shameful moment in American history. Not only has our erstwhile emperor revealed that he has no clothes but he has also revealed that he has no core principles. He will try to destroy anyone who does not bow to his narcissistic will.