Wednesday, November 28, 2012

The National Debt Limit - Here We Go Again

In a matter of weeks, the United States will hit our $16.4 Trillion National Debt Ceiling as Socialist President Obama is borrowing $4 Billion a day to fund his Socialist Schemes and Entitlements.   Drama Obama will turn this event into another crisis because without raising the debt limit, the federal government will not be authorized to borrow more money to fund expenditures.    Irresponsible Secretary of the Treasury, Tim Geithner, who is leaving the Administration in January, has said, there should be no debt limit at all. 

Don't be surprised if Obama attempts to end the Debt Limit by Executive Order, which was hinted at the last time around.  If Obama does try to do this, it will cause a Constitutional Crisis and turmoil in the markets.   The reality is that we have to get spending under control; yet Obama and his Socialist pals in Congress continue to play games.   There is no way to cut deficit spending without reforming Socialist Security, Medicare and Medicaid and eliminating redundant programs, agencies, departments etc.   We have to get federal government spending down from Obama's 25% of GDP to the more traditional 18%.  Obama will never do it because it means using attrition to eliminate many public employee union jobs.  

Obama and his Socialist pals in government are in power as a result of public employee union support.  Whose bread they eat, whose song they sing even if it bankrupts the country.  So now, we will go through the National Debt Ceiling dance once again.   Expect Drama Obama to cause a crisis.   It is now the norm with Obama. 

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