“Never let a serious crisis go to waste. What I mean by that is it’s an opportunity to do things you couldn’t do before.”
- White House Chief of Staff Rahm Emanuel
Note to our readers: This the 8th installment of a series called “The Abject Failure Of The Obama Presidency.” Intended to illustrate just how Obama’s policies fail us, and the Constitution he swore to uphold, it is based on The 10 tenets for establishing and maintaining democracy, written by William J. H. Boetcker and originally published in 1942. To read previous installments, just type or copy “The Abject Failure” into the search box to the right of this article, then click “Search.”
The more research I did to support this particular tenet, the more I realized that this tenet is, perhaps, the most complex to explain and properly cover:
8. You cannot keep out of trouble by spending more than your income.
Let me be clear about this: The United States is teetering on the edge of financial oblivion and it would be both factually incorrect and misleading to suggest the blame for this lies at the feet of the Obama administration.
Neither the mainstream media nor Congress, nor most of the Presidential administrations over the past 40-50 years have been totally honest with the American public about this. But the numbers don’t lie, even if the politicians do: The amount of money the United States is committed to in either social programs or entitlements over the next decade is well over $100 Trillion (yes, with a “T”). Our own Alan Speakman of Grand Rants has written about this on a number of occasions. For a harsh look at the truth, read these pieces by Alan:
- The Next Economic Crash – An Absolute Disaster
- Financial Speech For The Ages… Uh-Oh!
- Société Générale and Global Collapse
This debt is principally the result of entitlements funded by Congress while you and I were not paying attention. “Who’s going to win the playoffs?” became more of a concern to us than “What is Congress doing with our tax dollars?” “What’s the number one song on the hit parade this week?” surpassed “Can we, as a nation, afford to do this now?” in importance. So, in a way, if you want to know who is most directly responsible for the economic crisis, we can all start by looking into a mirror.
Even in years when administrations claimed to have a balanced budget, the deficit was, in fact, building in the background. Both political parties share the blame for this.
In order to fully understand the nature of the beast preparing to devour our entire economy, here is a “quick-start” video to help get you up to speed. I urge you to watch it in its entirety. When the video has finished, then please click on the link to read the rest of this installment to see how the Obama administration is heading in exactly the wrong direction… and why they are doing so intentionally.