Skip to comments.Obama's Five Trillion Dollar Lie
Posted on 05/25/2012 3:13:57 PM PDT by lbryce
Why isn't the U.S. economy in a depression right now? The number one reason is because the federal government has stolen more than five trillion dollars from future generations since Barack Obama was elected and has used that money to pump up our grossly inflated standard of living. Whether the federal government spends money wisely or foolishly, the truth is that the vast majority of it still ends up in the pockets of the American people who then use it to buy the things they need for their daily lives. If the U.S. government had not borrowed and spent an extra five trillion dollars that we did not have over the past several years, we would be in the middle of a rip-roaring economic depression right now. So any talk that Barack Obama is "improving the economy" is a total farce. It is a five trillion dollar lie. The reality is that Barack Obama and the U.S. Congress have been stealing trillions of dollars from future generations in order to make things tolerable in the present. If the federal government adopted a balanced budget next year, the debt-fueled prosperity that we are currently enjoying would start disappearing very rapidly and all hell would break loose in America.
At this point, the U.S. national debt is over 15.7 trillion dollars.
When Ronald Reagan took office it was less than a trillion dollars.
If you were to divide the national debt up equally, it would come to more than $50,000 for every man, woman and child in the United States.
So the share of the national debt for an average family of four would be about $200,000.
(Excerpt) Read more at theeconomiccollapseblog.com ...
Yes and no. I don't mean to quibble, but strange things happen to dollars that pass through the feral government's hands.
A dollar's worth of taxes is removed from the open market. When it's spent by the feral government, it sort of does and sort of doesn't return. If it's spent on a $4,000 toilet seat for the Department of Defense, it ends up on the books of a DOD contractor, all right, but it and the other $3,999 have been removed from circulation for all practical purposes. If it's spent on a feral "worker's" salary, it'll be returned to the market, but it didn't buy the same value of work from the feral "employee" as it would have bought from someone in private industry. That dollar hasn't literally been devalued, but by being spent on reduced value, it returns less than full value to the market.
Here's another factor: a dollar borrowed by the feral government necessitates paying interest with additional dollars harvested from the citizenry, so the borrowed dollar actually costs more than $1.00; further, feral government borrowing and squandering results in inflation, which additionally reduces the value of everyone's dollars and serves as a hidden tax on both the citizenry and markets.
Someone who's better versed than I in economics could explain it better, I'm sure.
It’s amazing that Zero has the gall to trumpet that the increase in spending under his regime was the lowest in 60 years. When you spend trillions off the starting block, the rate of increase is bound to slow even as you spend trillions more.We can only borrow so much money. It definitely doesn’t mean actual spending decreased.
All the enemies of America, foreign and domestic, are considerably wealthier than they were 4 years ago.
He is not a liar because he lies, he lies because he is a liar.