Spending Our Lack of Money
Barack Obama’s massive $3.55 Trillion budget is just one of the examples of the government spending much more than it can. In fact, the government debt will increase 63% by 2010 if Obama’s plan goes through. What does this mean for the U.S? If the money the government spends is never demanded back, it could mean free money, which means a weak dollar. If the money is demanded back, we could be seeing the first ever government bankruptcy, and I don’t want to know what that means. In reality, though, no one really knows what government debt means. Our government is like an infant playing with fire, having no idea what the fire is, and how much it could hurt. If I remember right, President Obama even promised to cut the national deficit in half by the end of his first term… three days ago. He noted that roughly one in ten tax dollars went to paying interest for the deficit. He stated that “I refuse to leave our children with a debt they cannot repay.” So much for that.
It isn’t President Obama’s fault…yet. He has a chance to do somethng about our debt, just like Congress and previous Presidents had. Most (if not all) our Congressmen and Presidents share the blame of this problem. Obama has promised to take steps to fix this problem, and has not done anything so far. I pray that Obama will work to solve this, but I do not predict it. The debt has been passed from generation to generation like an unwanted, yet still cherished, heirloom; why should it stop now?