Last week President Barack Obama told ABC News that the current national debt, which is approaching $17 trillion, is “sustainable,” and he does not feel the need to try to balance the budget.
Where is Herbert Hoover when we need an economic genius?
Just about every honest economist knows that running up massive debt without an effective strategy to improve the economy is flat-out dangerous. If the U.S. dollar collapses, there will be a worldwide depression that will make the recent recession look like an after-party at George Clooney’s house.
In the meantime, I can report the following federal expenditures that the president apparently has no problem overseeing:
Finally, if you check out the Alabama Watermelon Queen tour this year, know that you paid for some of it. If you visit Nebraska, you should know that your tax dollars funded a company that makes shampoo and toothpaste for pets. And if you like caviar, well, you paid for a website designed to bring those exotic fish eggs to “the masses.”
These expenditures are so stupid it hurts. But I also think they are a criminal misuse of our tax dollars. It is estimated that the federal government could save $400 billion a year by eliminating wasteful and redundant programs.
There comes a point when folks get the government they deserve. The American people re-elected Barack Obama knowing that he is the biggest spender of all American presidents to date. In fact, Obama has spent more federal money than every president combined up until George W. Bush’s second year in office. And to this day, Obama and the Democratic Party are proud of their spending record.
The donkey is the symbol of the Democratic Party. It should be the robosquirrel.
Bill O’Reilly is host of the Fox News Show, “The O’Reilly Factor” and author of the book “Pinheads and Patriots: Where You Stand in the Age of Obama.”