To Retire Our National Debt, We Must Retire Obama

By David Limbaugh
04/24/2011

Everyone but the blind and reckless agrees that the United States faces a dire financial crisis. But only one of the two major political parties is offering a plan that has a reasonable chance of averting this crisis and restoring the nation to financial health.

Obama’s ever-changing proposals, allegedly designed to tackle the problem, simply could not work. One of the following must be true: He doesn’t agree that the crisis is grave, doesn’t understand that his policies can’t work, doesn’t have the same vision about America as most of us, or doesn’t intend for his policies to work. Some people believe he’s intentionally damaging America, because they believe he’s too smart not to know that we face a crisis and that his policies can’t work.

I don’t pretend to comprehend the inner child of his past that apparently impels him to pursue this current path of destruction. My educated guess is that his leftist ideology blinds him to the inefficacy of failed liberal prescriptions but also that this same ideology tells him that if things don’t get appreciably better, then that’s OK, too, because America’s had more than its fair share of prosperity anyway.

Think about it. Through every fiber of his being runs a sense of injustice

US default could be disastrous choice for economy

By Bob L.
4-24-2011

Does any one think that the recession is over, or a Depression is just around the corner, well at this rate it is inevitable for total destruction.
=======================================================================================================================

TOM RAUM, Associated Press
Sat Apr 23

WASHINGTON – The United States has never defaulted on its debt and Democrats and Republicans say they don’t want it to happen now. But with partisan acrimony running at fever pitch, and Democrats and Republicans so far apart on how to tame the deficit, the unthinkable is suddenly being pondered.

The government now borrows about 42 cents of every dollar it spends. Imagine that one day soon, the borrowing slams up against the current debt limit ceiling of $14.3 trillion and Congress fails to raise it. The damage would ripple across the entire economy, eventually affecting nearly every American, and rocking global markets in the process.

A default would come if the government actually failed to fulfill a financial obligation, including repaying a loan or interest on that loan. The government borrows mostly by selling bonds to individuals and governments, with a promise to pay back the amount of the bond in a certain time period and agreeing to pay regular interest on that bond in the meantime.