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Debt crisis will only get worse unless we act
The Gazette Opinion Staff
Feb. 11, 2012 11:13 pm
In 1826, John Adams said, “There are two ways to conquer and enslave a nation: One is by the sword, the other is by debt.”
Before the latest request by Obama to increase the debt ceiling by yet another $1.2 trillion, we owed more than the GDP of 2011! In other words, we could take the entire output of the country for 2011 and it wouldn't pay off the debt! We are more insolvent now than we have ever been and we owe more than any country in history. We fret about the debts of Greece and other European countries. They are pikers - Greece's debt is measured in billions, ours is in the trillions!
All Obama needs to do is ask the Senate controlled by his liberal pals to block the House of Representatives from holding the line and the debt is increased by another trillion or so. If they don't, Obama threatens to stop Social Security checks to old folks. Please note that he doesn't threaten the welfare checks, heaven forbid! If he doesn't get his way, his buddies in the liberal press jump all over the Republicans, calling them insensitive, the party of the rich and uncaring about the less fortunate.
Folks, if we don't wake up, there will be no money for any checks. If you think we are in trouble now, just wait until ObamaCare kicks in and watch the deficit soar!
Gary Rees
Manchester
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