We’ve all underestimated in our lives before, we’ve all miscalculated; but it’s doubtful our underestimation or miscalculation will cost so many people so much. The Congressional Budget Office (CBO) says Obama’s deficit will be $9.8 trillion over the next 10 years, $1.2 trillion more than forecast by the administration.
Obama’s deficit of $9.8 trillion is hard to wrap your mind around. I found a couple of good visual illustrations to help you understand just how much $1 trillion dollars is; just exactly what $1 trillion dollars looks like. It’s a lot, it’s huge, it’s unfathomable that this administration continues to sink us deeper into debt while all the while claiming that the debt they inherited was somehow worse.
Most of the debt incurred by the Bush Administration was necessary debt over the course of his term. Whether you agree with the War on Terror or not (and I know you libs don’t) it was necessary debt. Kind of like when your washer, dryer and refrigerator all die at the same time, you have to replace them. You don’t like it, you hate to spend the money, but it’s necessary for everyday living. You accept and live with the debt.
The Obama debt is more like going into debt for a new car when your old car is still working just fine. It’s completely unnecessary but you convince yourself and others that the debt incurred is something that is needed to make your life better. Instead of making life better you’ve essentially added to your misery by heaping more unnecessary debt upon that which is necessary. But you don’t stop there. Next comes the home renovation. Sure you have enough room, you and your family are living quite comfortably, but you feel that adding on an addition will somehow improve your life. Instead of living with what you have and paying down your debt, you go further into debt for the addition; digging your hole deeper.
Sure these examples are elementary and simple but it’s almost impossible to give an example of Obama’s deficit of $9.8 trillion, $1.2 trillion more than expected without losing most of the audience. And quite honestly I would lose myself trying to explain it. For Bush the wars were necessary, and most would agree that the debt incurred to fight them were necessary as well. For a liberal like Obama, a new entitlement program like healthcare is necessary even though we don’t have the money to pay for entitlement programs like Social Security and Medicare as it is. He’s willing to bankrupt the country so that “his family” will laud praise upon him for their new addition. It doesn’t matter to him [Obama] or “his family” that others will lose their one bedroom apartments while paying for his new addition.
Criticize me if you will, make fun of me if you must (and I know it’s coming) but it’s time to be honest about the Obama deficit of $9.8 trillion that the CBO is forecasting over the next 10 years. $1.2 trillion more than Obama said it would be, how long before the administration refutes the findings of the non-partisan CBO?
The CBO says that Obama’s deficit of $9.8 trillion is never less than 4% of the size of the entire economy over the next 10 years. These deficits [economists claim] are unsustainable at this level. Interest rates will rise, taxes will go up, investment will diminish and essentially the nations standard of living will erode to that of the 1970’s or worse. But hey, at least Obama’s “family” will have their new addition to live in.