Only ten years ago, at the start of this 21st century, the U.S. government had a budget surplus of $127 billion, and economists were predicting that we would continue to have billions of dollars in surpluses. When Barack Obama was elected President, our economy went sharply into reverse. He pushed through a $787 billion package of wasteful spending that he called a "Stimulus." It was advertised that it would lead our economy into recovery, but instead it dug us deeper into debt.
In Obama's first year as President, he set the all-time record for the biggest annual deficit in our history: $1.4 trillion of debt in one year. The following year, he ran another massive deficit of $1.3 trillion. To put those numbers into perspective, the virtually bankrupt State of California runs an annual deficit of about $15 billion, but our Federal Government's deficit is nearly 100 times larger, and getting worse. This year, the budget deficit is forecast to again reach $1.4 trillion. That means that in Obama's three years as President, he will have burdened our nation with an additional debt of more than $4 trillion.
The Democrats are calling for even more spending, but the government is bumping up against its debt ceiling. That's the maximum limit it is allowed to borrow. Republicans in Congress should refuse to go along with this travesty.
Congress should say, We will not raise the debt ceiling. We will just have to cut spending to prevent our country from going over the limit. Congresswoman Michele Bachmann has the best answer to this problem: Don't raise the debt ceiling and stop spending money we simply don't have.
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