I, like all of you, share the concern with the national debt. This is been a perennial topic for generations, and because we're still talking about it today, no viable solution has been reached. I am also in agreement that the time to act is now in order to preserve it fiscally fit nation for our future and the future of those who come after us. At the end of last month, we concluded our fourth year in a row in which the national debt has exceeded $1 trillion. Obviously, Washington is not serious about seeking a solution to this long-term problem of long term debt.
Each time we elect a president, their administration pledges to put us on a track for a balanced budget, a surplus, and retirement of our debt. As we know, that has not happened recently. After major dissatisfaction with the previous administration, we elected our current president abound with pledges to cut the deficit in half by the end of his first term. This president has claimed to inherit $1 trillion fiscal deficit and pledged in February 2009 that he would cut that deficit in half by the end of his first term. If we look at the results of the last fiscal year which ended on September 30, it was not even close. We elected this president on the pledge that he would go through the budget line by line looking at every program and asking if it was effective. But for the politically aware, we know that the president has not passed a budget in the past three years. So I guess that means promise kept. To quote the president: In 2008, candidate Obama said, "We now have over $9 trillion of debt that we are going to have to pay back.... That's irresponsible. It's unpatriotic." And in 2007, he said, "[W]e are also not running up deficits and asking China to bail us out ... it's pretty hard to have a tough negotiation when the Chinese are our bankers."
President Barack Obama and Vice President Joe Biden seemed especially energized on the campaign trail. They are doing what they do best--campaigning. They've also been recently criticized for having no second term agenda. And how do they answer? With a recently thrown together pamphlet with several points on how they will conduct their second term.
The problem is that this pamphlet is about economic patriotism. Economic patriotism is Obama's euphemism for "let's raise taxes." And when they say "let's raise taxes, "they're including everybody on that. Not just the rich, not just the wealthy, not just the 1%. Everybody.