August 22, 2012
Four years ago, President Obama said, “… I’m pledging to cut the deficit, we inherited, by half by the end of my first term in office”. (See for yourself, at about 1:30 in.) Reported today: “The Congressional Budget Office made it official today, projecting a $1 trillion-plus budget deficit for the fourth straight year”. What [ Read more ]
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July 26, 2011
Neither President Obama nor Speaker Boehner tell the full debt story. They try to scare us by saying that if the debt ceiling is not raised, our credit rating might be lowered. But President Obama’s plans to increase our debt by at least $1 trillion annually for the foreseeable future is a bigger and definite threat to our credit rating. Our already significant interest payments won’t be affordable. China and credit rating companies warn us that we are creating too much debt. It is just a matter of time before our huge, growing debt to cause our credit rating to fall.
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