After Tripling The Deficit Obama Says It’s “Time To Get Serious” About Reducing National Debt
I’ll believe it when I see it:
Nov. 2 (Bloomberg)—President Barack Obama said the U.S. economy has pulled “back from the brink” and the government must now “get serious” about reducing debt and helping spur job growth.
Addressing a panel of economists and business and labor leaders, the president said the government and private industry must take “bold, innovative action” to bring the unemployment rate down and lay the foundation for future growth.
“We just are not where we need to be yet,” Obama told his Economic Recovery Advisory Board, headed by former Federal Reserve Chairman Paul Volcker. Along with helping promote job growth, “The government is going to have to get serious about reducing our debt levels.”
Here’s a hint: Stop spending money.
Cancel the rest of the stimulus, which is creating jobs at the cost of hundreds of thousands of dollars per job and billions in new deficits for future generations to pay off with interest.
Stop stupid programs like “cash for clunkers” which provided $4,500 vehicle purchase subsidies at an expense of roughly $24,000 per subsidy.
Stop pursuing the health care bill which will be a massive new entitlement program that will contribute billions to our national debt.
Stop pursuing expansions of government regulations on our economy like expanding unemployment entitlements and the minimum wage. These things are a burden upon the economy and stifle economic growth and prosperity.
Put simply, if Obama would stop growing the government in general we could get to a point where we could start paying down our national debt. But Obama doesn’t want to do that, because from an independent and self-sufficient populace he wants a nation of Americans dependent on the government. Because that gives people like him, instead of people in general, the power.
