The Public Debt
April 28, 2011 by Bob Livingston
It seems no one in and around Washington, D.C. — not President Barack Obama, not Congressional Democrats, not Congressional Republicans — is willing to tackle the overriding issue dragging down the United States: Federal spending.
Republicans talk about cutting pennies from the growth of government, and Democrats and their sycophantic media label the cuts as extreme. Republicans aren’t even talking about cutting government back to 2008 levels, yet the media talking heads and Democratic leaders become apoplectic when they discuss the Republican budget proposal.
In 2008, the Federal government spent almost $1 trillion less than Obama proposes to spend in his 2012 budget. Obama says his spending is necessary to ensure the operation of the country. Yet government functioned in 2008 on less money. There were no calamities, no catastrophes, no starving masses.
In the past four years, the so-called Federal debt has grown from $9.985 trillion to $14.3 trillion. But the elected elites, Democrat and Republican alike, are unable to even adequately address the deficit — the difference between revenues and expenditures — much less the debt.
President George Washington once said, “No pecuniary consideration is more urgent than the regular redemption and discharge of the public debt.”
That was true in the 18th century. It’s true today. We need to find some statesmen who believe it.