Mr. Obama dancing to the new spending spree win!
We hit $17 trillion in record debt, and we spent $328 billion on the first day.
The first day that Obama’s US Treasury was allowed to borrow money was marked by record spending.
The Treasury is replenishing the money they borrowed from various accounts by borrowing from foreigners, some of whom are Communists and Socialists.
Even the Chinese are telling us to cut it out – Chinese Communists are giving us financial advice and it’s good advice at that!
The Chinese are talking about replacing the dollar as the world currency. That would be the end of us.
There is no debt ceiling until February 7th so expect the government to run amok. They have an addiction to it. Expect an increase of $700 billion or more.
This isn’t new spending, Democrats say, they merely want to pay the bills Congress racked up. You know, the bills Obama and the Democrats forced Republicans to accept. They will increase spending, however, they have free rein to do so. In fact, the new deal worked out allows for billions more in spending and even has a $2+ billion dam project for Mitch McConnell’s state.
Remember when billions were a lot of money? Quadrillion, here we come.
The Obama administration has no plan to stop the trillion dollar a year deficit spending and no desire either.
Much has been made of the Republican loss over the most recent fight on the CR and the debt ceiling. Mr. Obama was prepared and he won. But what did he win?
He’s killing our economy and Obamacare plays no small role in it. At some point people are going to realize and they are going to remember the Republicans tried to stop it. Of course Mr. Obama is going to blame Republicans for all the wrongs he commits and it is a strategy that works well thanks to his cohorts in the media.
We will have to see but my belief is Obama’s chickens will come home to roost.
Read more at the Washington Times.