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Obama Wants Action on Government’s Borrowing Limit

But he doesn’t want to reduceit…

In an ABC News report President Barack Hussein Obama warned that he “will not compromise” over his insistence that Congress lift the federal debt ceiling.  Lift it?  Our country’s borrowing limit is currently $16.4 trillion (with a T).

photo by Tom Hodgkinson

photo by Tom Hodgkinson

“If Congress refuses to give the United States the ability to pay its bills on time, the consequences for the entire global economy could be catastrophic,” Obama said. “Our families and our businesses cannot afford that dangerous game again.”

What is going on and why doesn’t anyone seem to care?  Over the past four years, during the Obama reign, our federal government has borrowed 40 cents for every dollar spent.  Obama, in four years, has increased the debt by 5 trillion dollars.

This government debt must be repaid.  It’s not free.  “A government debt is a government claim against personal income and private property – an unpaid tax bill.” —Hans F. Sennholz

Instead of working to get the country’s fiscal and financial house in order, Obama and most in Congress continue to play their artificial crisis or blame game.  No truthful person with any ounce of integrity would operate a business in the manner that our nation’s financial affairs are being conducted.  What if we ran our household this way?

There has not been budget in over 3 years and our nation’s credit card is just about maxed out.  There’s a good chance that our nation’s credit rating will be downgraded again if there is a delay in dealing with the soon to be here debt ceiling debate.

We need elected representatives that are concerned with the nation and not reelection, representatives that have the intestinal fortitude to make the tough decisions and save this country.

Americans know that when you have no more money in your account and your credit cards are maxed out, then the spending must stop.


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