Owe-Bama Spending Us Into Oblivion With No Sign of Slowing

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Steny Hoyer opened tonight’s convention by bragging about the UAW bailout. He said it was an auto company bailout but it was really a union bailout. Did anyone notice that Ford came back without a bailout?

Obama is a bailout believer but he is not in sync with the majority of American people.

When Obama took office, he did something very unusual. Instead of tackling the debt and trying to grow jobs, he added another unsustainable program – Obamacare.

He is no ordinary president. He gives himself an “incomplete” as a grade. I hope that doesn’t mean he gets another opportunity to fail as our leader. He needs to take the “F” and leave.

As the Democrats kicked off their convention, the debt clock hit $16 trillion. The debt is getting dangerously close to the point of no return.

The NY Post summarized it well:

CHARLOTTE, NC — The Democratic convention got off to an embarrassing start for President Obama yesterday when the nation’s debt hit an astronomical $16 trillion — a staggering $135,578 for every family, and a crushing milestone that will echo across the campaign trail.

Less than an hour before the first speaker took the stage in Charlotte, the Treasury Department announced that the national debt had hit the dismal mark.

That shatters the record for the biggest US debt in history and the largest accumulation of new debt by any president.

The grim news of the debt, which has increased more than $5.4 trillion on Obama’s watch, contrasted sharply with merrymaking on the convention floor.

It was a sobering reminder of the huge task Obama faces to convince a nation burdened with budget deficits and joblessness that he deserves four more years.

Republicans were already hammering Obama for not tackling America’s debt problem and breaking his 2008 campaign promise to cut deficits in half by the end of his first term.

The U.S. is the world’s largest economy but we recently fell two positions in global competitiveness from 5th to 7th place. CNBC reported these results which came from the World Economic Forum (WEF). We are not able to compete on the world stage as we once did and the warning signs are present.

Under Obama’s watch, the U.S. credit rating fell to AA+ for the first time in our history.

Whether it’s Bush’s fault or Obama’s doesn’t matter – Obama is not up to the challenge.

NY is one of the most liberal states in the union and it is a disaster. A report from the empirecenter came out today saying that public-sector employees have been promised $250 billion (that’s a quarter trillion for one state alone) in post-retirement health benefits which have no slush fund to back them up.

Does anyone think this is sustainable?

What is a trillion? Just ask Rick Santelli.

 

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