Is The Debt Bomb Obama's Scandal Of Scandals?

OBAMA'S BIGGEST SCANDAL – RED INK

Exclusive: Joseph Farah sounds alarm over addition of $7 trillion in debt ... and counting

Published: 12 hours ago

 JOSEPH FARAH About | Email | Archive

  Receive author alerts  Subscribe to feed

• 
• Text smaller
• Text bigger

     30

There’s one Barack Obama scandal that won’t be fixed easily even after he’s gone.

In fact, even Obama himself characterized similar behavior by his predecessor as “recklessly irresponsible” – but that was on a much smaller scale.

It could take sacrifice by several future generations of Americans to overcome Obama’s own “recklessly irresponsible” conduct.

It could also result in America’s economic collapse long before then.

Of course, I’m talking about the exponential explosion of U.S. debt – a 66 percent increase, or $7 trillion – since Obama too office.

For those who might suggest Obama doesn’t bear all responsibility for borrowing and spending, consider what he said about George W. Bush’s increase in the debt of $2.7 trillion during the same period of time in office: When campaigning for the presidency, Obama said Bush did it “all by his lonesome.”

[See Obama's comments:]

It’s also worth noting that Obama voted against increasing the debt limit during the Bush years. Upon entering the White House, Obama turned around and said it was irresponsible not to increase the debt limit.

Even though Obama was willing to assign Bush all the blame for borrowing and spending during his administration, the truth is that it is unfair to point the finger only at the president – Bush or Obama. Since January 2011, it is worth noting that House Republicans have had the power all by themselves to freeze borrowing and spending. They haven’t even come close to doing it. Even though Obama likes to demonize Republicans as the folks holding him back from creating a utopia, the reality is that GOP officials have been his biggest enablers.

That’s why I created the “No More Red Ink” campaign back in 2011 to expose the bipartisan scandal of unchecked, unlimited borrowing and spending – as I describe it: “the end of constitutionally limited government.” Since that campaign began, we’ve sent millions of red letters to members of Congress trying, so far in vain, to awaken Republicans to their complicity in this immoral conduct.

Nevertheless, borrowing and spending continues unabated – without any checks and balances, without any national dialogue, without any informed debate.

It’s leading America inevitably to national economic suicide.

For a moment, let’s put the spotlight back on Obama, because, using the standard he used about his predecessor, this could be Obama’s biggest of the legion of scandals he has been involved in during his time in the White House.

It took America’s first 43 presidents 223 years to incur the country’s first $7 trillion in debt.

Obama did it in five and a half years.

In July 2008, while campaigning for the presidency, Obama launched a scathing indictment of Bush’s borrowing and spending: “The problem is … that the way Bush has done it over the last eight years is to take out a credit card from the Bank of China in the name of our children, driving up our national debt from $5 trillion for the first 42 presidents – number 43 added $4 trillion by his lonesome, so that we now have over $9 trillion of debt that we are going to have to pay back – $30,000 for every man, woman and child. That’s irresponsible. It’s unpatriotic.”

One must ask, if raising the debt by $4 trillion is irresponsible and unpatriotic, what is raising it by $7 trillion?

At the current rates of spending and borrowing, in five years the debt will be greater than America’s annual gross domestic product – which is the value of everything we produce as a population in a year.

Is there a bigger government scandal than this? If so, it would be hard to imagine.