Friday, August 13, 2010

I Spend, You Pay

In his eight year presidency, George Bush increased the national debt from $5.7 Trillion to a whopping $9.8 Trillion. That amounts to a sickening $43 Billion per month. To personalize the amount, it is $1,700 per year for each resident in the United States.

Enter Barack Obama who scoffed at Bush's spending and so got himself elected. But what Mr Obama has done makes Bush appear to be a world-class tightwad. In the eighteen months since Obama swore the oath, our national debt has been jacked up by $178 Billion per month. Poor Georgie is chopped liver next to Barry.

Now let's personalize what Obama has done. The average American household amounts to 3.14 people. Obama, behaving like a giddy teenager with his first credit card, has racked up NEW debt that amounts to $1,850 per month for that average sized American household! That is $22,200 per year. With the median household income at $52,000, the mad spender's unpaid bill is 42% of that income. Put another way, the debt increase is equal to the median household's gross income earned from January 1st to June 7th.

Recently, Mr Obama used the metaphor of (the Republicans) running the car into the ditch and now wanting to re-take control of the keys to the car. A more accurate use, and an extension, of the metaphor still has the Republicans driving the car into the ditch. Then, into the car jump Barack, Nancy and Harry. These three wild-eyed "progressives", evoking memories of Thelma and Louise, crazily zig zag the car until it goes over a cliff.

However, unlike Thelma and Louise, the trio of spendthrifts bail out of the car before it actually flies off of the cliff. Who's in the car? Our children and grandchildren -- the ones that pay the tab that Obama rang up. Charge it, baby.

Change.

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