The Debt Limit and Generational Theft – Should We Prosecute the Criminals?

January 16, 2013 in America's Collapse, Congress, Debt Limit, Economic, Economic Deception, Economy, Generational Theft, Obama-Nomics, Obamanation, President Obama

 

obama1Barack Hussein Obama’s agenda is to demonize fiscal conservatives so they he can continue to give away “Obama phones” from his “stash” to his constituency. Actually his “stash” is a bunch of generational IOUs to our children and grandchildren that won’t be worth the paper their printed on.

Let’s try to break down the consequences of Obama’s fondness for a disgraceful Spending  appetite.

The Annual Income to Federal Government $2.2 trillion

Obama will Spend$3.8 trillion in the coming fiscal year.

The Debt for this year alone $1.6 trillion

The national debt is $16.5 trillion

 

Since Trillions are too big for people to comprehend let’ s strike the last 8 zeros and treat these Federal figures as if they were being used in your household.

 

$38,000 Spending  – $ 22,000 Income = $16,000 Household deficit spending this year

Or:

$165,000 Cumulative debt + $16,000 Current Debt = $181,000 Total Cumulative Household Debt

This is a Problem!!!

 

The Total Cuts in the recent Budget Control Act were 38.5 billion.

 

Strike the zeros and it takes the cuts amount to a measly $38.50 from the household Deficit debt this year or:

 

 $16,000 – $38.50 = $15,961.50 Your Household Deficit spending for this year alone

$165000 + $15,961.50 = $180,961.50 Total Cumulative  Household Debt

Yes this is the Obama Math in play. How long could you or would your creditors allow you to rack up these credit card charges without forcing you into bankruptcy? Yet we have been doing just this for decades now. Once our creditors acknowledge our inability to pay off our debt, our interest rate, as we have seen in Greece, will be so onerous that there will be riots in the streets when basic government necessities can no longer be provided. We’re not talking about “Obama phones”, but rather necessities like food medicine etc.

Our federal government can and must do better than that.

Whenever the President and Congress talk about Borrowing, we should look at it in household terms.  In the above example it should be evident to all, that there is really no real ability and therefore no real intention to pay back the accumulated $15,961.50 debt.

Borrowing is when you ask a lender to give you money and based upon your financial position, he agrees and you agree to pay it back in some predetermined term  at an agreed upon interest rate.

What is occurring in the above example and what the Obama Administration is advocating is generational theft from our Children and grandchildren who have no voice in the matter!

This generational borrowing is stealing, and criminal behavior that must be punished because we must  Stop Stealing from our Children and Stop the Overspending.