Tea Party people know the media’s coverage is slanted and focused on only the cuts not the relentless problem of debt. Increasing debt is a threat to our security, freedom and our children’s chance at the American dream. Know the truth and it will set you free. Released a week ago- President Obama appointed 200 of his campaign donors to White House positions.
“I don’t take a dime of their [lobbyist] money, and when I am president, they won’t find a job in my White House.” – Senator Barack Obama on the campaign trail, 2008
1. If we prioritize our spending we won’t default.
The federal government takes in enough revenue to cover our debt obligations. The actual problem is the spending. We must act now to control our spending for the sake of America’s future.
“The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies.” – Senator Barack Obama, March 16, 2006
2. If they raise the limit they will spend it all-historical fact.
Since the debt ceiling was put into place, Congress has not failed to raise it when the debt was critically close to reaching and exceeding the limit. The debt ceiling has been raised 10 times in the last 11 years. Republicans will agree to raise it again. What is to stop Congress from raising it the next time we reach the limit? Isn’t that the point of the debt ceiling, to prevent the borrowing of more money??
“If Washington were serious about honest tax relief in this country, we would see an effort to reduce our national debt by returning to responsible fiscal policies. But we are not doing that…” – Senator Barack Obama, March 16, 2006
3. We have been warned by independent agencies and more to stop the reckless spending.
Moody’s, Standard & Poor’s, economists, and China have warned us to stop our reckless spending. Increasing the debt ceiling is the enabler to our spending problem. If the government isn’t able to borrow anymore money, they will be forced to start prioritizing spending.
“The more we depend on foreign nations to lend us money, the more our economic security is tied to the whims of foreign leaders whose interests might not be aligned with ours. Increasing America’s debt weakens us domestically and internationally. Leadership means that ”the buck stops here.” Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better. I therefore intend to oppose the effort to increase America’s debt limit.” – Senator Barack Obama, March 16, 2006
4. We don’t have to reinvent the wheel on spending.
If we return to 2003 spending levels we can begin to pull ourselves out of this fiscal crisis that we are in. If we went a step further back to the spending levels at the end of the Clinton administration, we could balance our budget. It is true that sacrifices will have to be made but if we don’t make those sacrifices now, just imagine how much harder it will be in the future.
“The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure.” – Senator Barack Obama, March 16, 2006
5. A rising national debt holds back jobs and the economy.
As the government continues to borrow money, confidence in the economy dwindles, business owners worry about how the government will pay its debts, and the talks of increasing government revenues by raising taxes causes businesses to save capital and plan for survival rather than planning for growth.
“The cost of our debt is one of the fastest growing expenses in the Federal budget. This rising debt is a hidden domestic enemy… interest payments are a significant tax on all Americans-a debt tax that Washington doesn’t want to talk about.” – Senator Barack Obama, March 16, 2006
6. Save at least $1 trillion by ending all wars, including Libya.
“I don’t oppose all wars. What I am opposed to is a dumb war.”
A quote from Barack Obama’s speech at an anti-Iraq war rally in Chicago, October 26, 2002. Note he expressed this sentiment just after the invasion of Iraq and years before other political heavyweight would agree about Bush’s Iraq policy.
7. Save millions of dollars and thereby creating jobs by cutting regulators and czars.
“On average, eliminating the job of a single regulator grows the American economy by $6.2 million and 98 private sector jobs annually.” Phoenix Center
“Change will not come if we wait for some other person or some other time. We are the ones we’ve been waiting for. We are the change that we seek. If the people cannot trust their government to do the job for which it exists – to protect them and to promote their common welfare – all else is lost.” – Senator Barack Obama on the campaign trail, 2008