“We don’t have an urgent deficit crisis,” Obama said Friday at a town hall meeting on the campus of Binghamton University in Binghamton, N.Y. “The only crisis we have is the one that is manufactured in Washington and it’s ideological and the basic notion is that we shouldn’t be helping people get health care and we shouldn’t be helping kids who can’t help themselves and whose parents are under resourced, we shouldn’t be helping them get a leg up.”
Now either this president is lying or he has yet to read his own government's reports.
Government Accountability Office said earlier this year that "...absent policy changes...the federal government continues to face an unsustainable fiscal path."
• The non-partisan Congressional Budget Office warns that we have less than a decade to rectify the federal spending addiciton: "[a] growing imbalance between revenues and noninterest spending, combined with the spiraling cost of net interest, would swiftly push debt upward in an unsustainable way... The explosive path of federal debt ... underscores the need for major changes in current policies to put the nation on a sustainable fiscal course..."
• The public trustees of Medicare and Social Security continue to sound the alarm that the massive entitlement programs are headed for collapse: "Under current law, both of these vitally important programs are on unsustainable paths."
• Furthermore, government economists in the several states warn that the federal debt "circumstances are dire enough after four consecutive years of trillion-dollar deficits that politicians on each side of the aisle are beginning to realize serious budget repairs are necessary."
• Kleiner Perkins partner Mary Meeker, one of the most respected investment analysts in America, reports that the United States federal government "is on a parallel course to GM before its bankruptcy... [and if entitlement programs are not reformed, the U.S. balance sheet will go from bad to worse... The turning point: within 15 years, entitlements plus net interest expenses will absorb all -- yes, all -- of [federal] annual revenue."
This is just a random sampling. There are many, many more. There are hundreds of similar analyses from the government itself as well as the private sector.
Are the federal government's own actuaries all wrong and Obama right?
Are the federal government's own accountants all wrong and Obama right?
Are generally accepted accounting principles all wrong and Obama right?
Are centuries of mathematics all wrong and Obama right?
Are facts, logic, history and reason all wrong and Obama right?
Whether his actions are, as some have proposed, intentional or whether they are the product of a radical and blinkered ideology, the endgame will be the same.
We are headed rapidly for an economic whirlpool, a hydraulic that will -- like chaotic events that have occurred before throughout history -- catch most off-guard and send the country rapidly into desperately dangerous, uncharted waters.
And which segments of the population will be hardest hit by such an economic catastrophe? Will it be the super-rich, the Beltway elites, or former Presidents of the U.S.? Or will it be the poor, seniors living on fixed incomes, and young people trying to get their careers started?
Of all his countless fabrications, the lies the President tells the American people about spending and deficits are the most dangerous.
Hat tips: Mark Levin and BadBlue News Service.