As if you needed further proof that the current Administration and the Democrats are driving America to bankruptcy, witness this article from the Telegraph outlining the US Debt. And look at the chart. Despite the spending lefties are always screeching about Under Bush, it was actually fairly level after 9/11 and the start of the war in Iraq, then Boom! Obama gets elected and it skyrockets. It’s headed to be over 100% of our gross domestic product. And considering that the policies of this administration, if enacted, like Cap and Trade, will decrease our GDP because it will kill off companies and destroy jobs forever, that trend will be accelerated.
Whether or not Glenn Beck is correct when he states they are trying to crash our economy on purpose in order to replace it with their own design, they are pushing us in that direction anyway, no matter what their intent. And that has to be stopped. We need less spending, not more. We need less bureaucrats, not more.
States will be forced to cut services dramatically, even California is looking to cut welfare. That will only be the start. The kinds of social problems that will arise from all this is on the heads of these so called leaders. Their absurd spending and tax strategies of the last several decades are now reaching their inevitable conclusion.
Statism does not work. It never has in the long term.
UPDATE: Even the socialist president of Spain is cutting government salaries because of tough times. Thatr’s going to have to happen all over.
Reason has a great article called “We’re Out of Money.” We are facing some major austerity moves and it’s not going to be fun. There are a lot of politicians on both sides of the aisle that deserve the blame. But the first move we need to make is to kick all offenders out of office as soon as possible. They brought us here, they will not help save us. They need to go and some of them, need to see the inside of a courtroom.
More charts on this subject worth looking at.