A Monumental Investment Scam


By: Patti Bankson

When President Obama released his budget May 14, this year, he told Americans, “We won’t be able to bring down this deficit overnight, given that the recovery is still taking hold and families across the country still need help. … Just as it would be a terrible mistake to borrow against our children’s future to pay our way today, it would be equally wrong to neglect their future by failing to invest in areas that will determine our economic success in this new century.” But, according to information from The Heritage Foundation, President Obama’s budget not only fails to reduce deficits “overnight”, his budget moves them in the opposite direction. This is what they say his budget would do: • Permanently expand the federal government by nearly 3 percent of gross domestic product (GDP) over 2007 pre-recession levels; • Borrow 42 cents for each dollar spent in 2010;

• Leave permanent deficits that top $1 trillion in as late as 2020;

Comparing the President’s budget deficit projections to the Congressional Budget Office’s budget under current law shows us that the policy changes embodied in Obama’s 2011 Budget put our country $2.5 trillion deeper in debt by 2020 than it other wise would be if current law were left unchanged.

Being cleverly adroit, the President doesn’t want to call any of this money hemorrhage “spending” or “going deeper into debt”; he prefers to call it “investing”. Whatever he calls what he’s doing, his thinking on the subject “goes to the core of the fundamental difference between leftists and conservatives in this country: liberals believe economic growth comes from wise investments by government experts; conservatives believe that economic growth stems from millions of Americans having the freedom to make their own economic decisions everyday.” … this president’s “bailouts, massive stimulus spending, and other dangerous interventionist policies (some of which began in 2008) have made Americans less economically free. The 2010 Index of Economic Freedom analyzes just how economically “free” a country is, and this year America saw a steep and significant decline, enough to make it drop altogether from the “free” category, the first time this has happened in the 16 years we’ve been publishing these indexes. The United States dropped to “mostly free”. As the Index shows, lack of freedom has a direct, negative effect on job growth. It should be no surprise that President Obama’s policies have taken us down the path to fewer jobs and record deficits.

When looking at just a small piece of this monumental “investment scam” one has to wonder why Bernie Madoff or Martha Stewart went to prison. Oh… that’s right! It was because they lied to congress about whatever… Seems kinda unfair doesn’t it? They lied to congress and BOOM! Locked up. Congress and the President lie to us and….. Boom! We’re locked up … left with them holding the keys (at least for now) that could set us free. We’ll see who’ll be “jingling” those keys down the road after November’s election. Keep fighting, folks… ‘cause it’s not over ‘til it’s over.

(Information from The Heritage Foundation, with their permission.)

Comments welcome at pbankson@cfl.rr.com and www.aconservativewoman.blogspot.com

© 2010 Patti Bankson

About The Author Patti Bankson:
Send comments to pbankson@cfl.rr.com © 2011 Patti Bankson The Way I See It / The Apopka Chief / www.thelandofthefree.net

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