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Mr. President, Why Won't You Help Us Avert National Bankruptcy?
Townhall.com ^ | October 23, 2012 | David Limbaugh

Posted on 10/23/2012 5:30:54 AM PDT by Kaslin

President Obama, I'd like to follow up on my most recent column and ask you a few more questions, please.

I am assuming you don't dispute that our nation faces a very serious financial problem, with unfunded liabilities in excess of $100 trillion. I use the word "assuming" because I don't remember you ever spending much time talking about this problem, which is odd because the very subject haunts so many Americans and makes them fearful for the future of this country.

Yet if you do recognize that these liabilities threaten our nation's solvency, how is it conceivable that you've not made the problem one of your foremost priorities? Yes, you established a bipartisan deficit commission, but you refused to meet with it and you ignored its findings, so that doesn't get you off the hook.

When Rep. Paul Ryan presented his "Path to Prosperity" and the Republican Congress passed a budget largely along the lines Ryan proposed, you publicly ridiculed Ryan, and your Democratic-controlled Senate summarily rejected the bill.

When Ryan questioned your treasury secretary, Timothy Geithner, about entitlements and our national debt, Geithner claimed that the administration stabilized the deficit and debt issues over the next 10 years but admitted that you have no plans for attacking the long-term problem. But what Geithner refers to as stabilization actually amounts to adding approximately $1 trillion per year to our national debt over the next decade, which, incidentally, makes your statement that you would not add a dime to the national debt just outright bizarre -- and disturbing.

More troubling, though, than the $10 trillion your budget admits you'd add to the debt over the next 10 years is Geithner's brazen confession that you have no plan to tackle the explosion of our unfunded liabilities. When Ryan pressed Geithner on that point, Geithner merely responded that he and you didn't like Ryan's plan, because it wouldn't adequately protect seniors and middle-income earners. But as you know, Mr. President, that is also blatantly false. Ryan's plan carves out special protection for those groups. You must know, unless you are as negligent about informing yourself on Republican ideas you oppose as you are regarding national security matters, that Ryan's plan would preserve Medicare benefits exactly as they are for those who are now at least 55 years of age. But you keep saying otherwise.

It's not your dissembling that is most troubling, as bad as it is. It's that you haven't bothered to come up with any plan of your own to restructure entitlements. None -- not even fragments of a plan. Even when Ryan pressed him, all Geithner could say was that he doesn't like Ryan's plan. Ryan said, "Fine. Then present one of your own." Had more people been watching that disgraceful exchange, you might have plummeted in the polls far sooner.

So where does that leave us? You must acknowledge we face a catastrophic financial calamity if we don't address entitlements and our ongoing yearly federal spending, yet you've contributed nothing to this discussion. You've not only failed to show leadership but also obstructed those who are trying, in earnest, to save this nation from national bankruptcy. Indeed, when you appeared on David Letterman's show, you betrayed a shocking ignorance about the national debt. When Lettermen asked whether it is $10 trillion (it is $16 trillion), you brushed him off, saying you didn't know the precise figure. I'll say you don't. Not even a clue -- because you obviously don't care.

Instead, you said that we face a long-term problem but that "we don't have to worry about it short term." How can you be so casual about this when experts have warned that we could go the way of Greece within two or three years unless we get the problem under control? How can you be so dismissive when our nation's credit rating, under your watch, has been downgraded already?

We face an existential threat to our nation, and you not only have insisted on ignoring it and blocking solutions to it but also aren't even addressing it in your presidential campaign -- and the media are letting you get away with it.

I believe that you are acting more like Mr. Magoo than you are the president of the United States, because your whole purpose for being in office, apart from ego gratification, is to fundamentally transform America. You know you cannot achieve that aspiration unless you keep spending money recklessly regardless of how much more you add to the debt.

Others have gone so far as to argue that your goal is precisely to destroy the nation financially. Whether or not that is your goal, there is no longer any way people can call those making the claim unreasonable. For regardless of your intent, you are bankrupting us and have no intention of reversing yourself.


TOPICS: Business/Economy; Culture/Society; Editorial; Politics/Elections
KEYWORDS: bankruptcy; bankruptingamerica; bhoeconomy; fiscalcliff; obama

1 posted on 10/23/2012 5:31:00 AM PDT by Kaslin
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To: Kaslin

Avert it? He’s spent the last four years creating it.


2 posted on 10/23/2012 5:32:24 AM PDT by Joe Brower (Sheep have three speeds: "graze", "stampede" and "cower".)
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To: Joe Brower

Exactly. If one looks at what Obama is doing and understands that it is his desire to bring down the country, then it all makes perfect sense. He’s overloading the system intending to crash it.


3 posted on 10/23/2012 5:41:09 AM PDT by Marty
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To: Joe Brower; Mrs. B.S. Roberts

In regard to THEIR intentions, Mr. Obama and the Democrats have proved to be VERY successful. For all too many Americans, their intentions are not understood.


4 posted on 10/23/2012 5:46:00 AM PDT by CaptainAmiigaf ( NY Times: We print the news as it fits our views.)
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To: Joe Brower

No adult with a normal IQ and some basic understanding of economics can truly believe that we could “spend” our way to prosperity with the pace of spending these communists in our highest offices have maintained for four years.

It is planned, deliberate destruction.


5 posted on 10/23/2012 6:11:40 AM PDT by Ghost of Philip Marlowe (Prepare for survival.)
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To: Kaslin
Mr. President, Why Won't You Help Us Avert National Bankruptcy?

It is part of the commie's plan to take down The Country!

6 posted on 10/23/2012 6:17:36 AM PDT by The Sons of Liberty ("Get that evil, foreign, muslim, usurping, gay commie bastard out of MY White House!" FUBO!)
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To: Kaslin
“Mr. President, Why Won't You Help Us Avert National Bankruptcy?”

What good is a strong, solvent and stable America to any Liberal and especially to this race-baiting, incompetent and unscrupulous loser?!!

7 posted on 10/23/2012 6:31:38 AM PDT by SMARTY ("The man who has no inner-life is a slave to his surroundings. "Henri Frederic Amiel)
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To: Kaslin

Mr. President, Why Won’t You Help Us Avert National Bankruptcy?

The seeds for Bankruptcy were planted in 1913 with the creation of the Fed Cartel, they were finally cultivated in 1971 when Nixon formally recognized our bankruptcy. Since then we have been in receivership and there is NO WAY out using a Debt Based Monetary System using Fractional Reserve Banking (Fraud). Most everything bad we see in the economy are mere results of our Fraud Based Monetary System.


8 posted on 10/23/2012 8:47:14 AM PDT by eyeamok
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To: The Sons of Liberty

Really, it’s too late to keep the crash from happening.
The people wouldn’t stand for the policies it would take to avert a crash.

All we’re voting on now is who is going to be in power to pick up the pieces and what we want it to look like afterwards.

We could have a Marxist or a businessman in charge. That’s our choice.


9 posted on 10/23/2012 9:05:16 AM PDT by MrB (The difference between a Humanist and a Satanist - the latter admits whom he's working for)
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To: MrB

Unfortunately, I have to agree. If the marxist is in power, he will continue to play golf, take luxury vacations and issue edicts like a dictator. The businessman will be in there fighting, but the day after the election he will already be neck deep in alligators.


10 posted on 10/23/2012 11:14:52 AM PDT by The Sons of Liberty ( For AMERICA's sake: Vote for the Mormon, NOT the muslim; The Capitalist, NOT the Communist!)
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