Isn’t it amazing how the politicos in Washington get their shorts in a wad over uniforms for the U.S. olympic team being made in China? Too bad they aren’t as concerned when it comes to borrowing their money.
While the economy slows down, and unemployment is at record levels for a record amount of time, President Obama’s message is revealing more and more of his Marxist philosophy and fascist economic model tendencies when he says that small business owners did not make their business or make them grow. “If you’re successful in business, you didn’t get there on your own,” he said. That “someone else” he suggests is the government. A defeatist attitude for free-market capitalism and, for America as we know it. And particularly dangerous coming from our president.
As an aside from the debate in Washington about whether or not to raise the debt ceiling, spend less, or balance the budget, there is something else just as ominous to the country and future generations that you should know about.
We all understand that borrowing money has a direct cost to it, the interest rate. Interest rates now are at all-time lows. No problem. When interest rates go back up, big problem.
Sen. Tom Coburn expounds on the “Debt Bomb.” “The problem isn’t that we haven’t agreed, the problem is that we’ve agreed way too much,” explained Senator Tom Coburn (R-OK) in a recent interview with The Heritage Foundation. “Otherwise we wouldn’t have trillion-dollar deficits, $16 trillion in debt, and unfunded liabilities of $113-131 trillion.”