Barack Obama
U.S. debt has increased to the point it now equals American economic revenues ($15 trillion). To those of you that think the nation has broken even, not quite. At the rate it is rising, the national debt shall surpass the money coming in to the country, via corporate revenues, by the end of the year. Too much spending and too little saving on the government's part.
Moreover, it is not good for any nation to carry such an enormous amount of debt. It negatively impacts international ratings and the country's economic pull in the world. It also weakens the national currency. Congressional House Speaker, John Boehner, stated of U.S. President, Barack Obama's wild spending, "Everything is on the table. We're broke. Let's be honest with ourselves."
Republican House Budget Committee Chairman, Paul Ryan, stated, "We'll see the details of this budget tomorrow, but it looks like to me that it is going to be very small on spending discipline and a lot of new spending so-called investments. Borrowing and spending is not the way to prosperity. Today's deficits means tomorrow's tax increases, and that costs jobs."
President Obama, has increased the national deficit more than any other Commander-in-Chief in American history. The President's proposed budget for this year is the most expensive in U.S. history. These are distinctions he could have done without. President Obama continues to engage in unruly spending, devoting taxpayer funds to wasteful projects that are not a necessity, rather than cutting back on costs to pull the nation out of a financial depression.
Additional errors were made when many billions in stimulus funds, which is taxpayer money, were thrown at large corporations, without any contractual stipulations the funds were to be spent on job creation, providing stiff penalties for any incidents of theft or misuse. As a result, said money is being hoarded by corporations and their officers, to the tune of $1.5 trillion dollars, according to estimates. There have been incidents of theft of said taxpayer money as well.
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