There is no spending problem: Earth to Obama, Come in

Yesterday, I wrote about the debt limit. I posed the following question about the view of the President on spending cuts and the problems caused by the increasing of national debt. In part, it went:  

Liberals refuse to address the spending issue. Mr. Obama says he is not even going to discuss or negotiate the debt limit. Mr. Obama either believes the amount of debt is not a problem, is willing to take the risk that it will not hurt the country on his watch or does not care as long as the largesse of the government and a growing reliance on it continues. I do not know which one it is but any of them are feckless and dangerous policy.

We have the answer now. It comes from a conversation (if you can call it that) Mr. Obama and House Majority Leader Boehner had several weeks ago during the fiscal cliff negotiations.  To wit,

Mr. Boehner told the Wall Street Journal "At one point several weeks ago, "the President said to me, 'We don't have a spending problem.'"

Now that is a revelation and very telling. It demonstrates the philosophy and mindset of the President. It is also contra to almost all rational economic thinking and the statement rebukes Mr. Obama's own debt commission, which made clear spending is the driving force behind the nation's debt crisis.

Spending not a problem? Even with the latest round of tax increases, the federal deficit will be more than a trillion dollars this year—the fifth year in a row. The government borrows somewhere about 40 cents of every dollar it spends. The federal debt will increase to more than $17 trillion by the end of the year.

 It is hard to know how to react to such a statement of such, really, nonsense. It has not gotten much attention even though the polls show a vast majority of American would disagreee with it. It is disheartening and such an attitude portends more rancor to come not to mention econmic consequences.  I am not surprised but not much else to say on the issue. Now we know the answer. No wonder Republicans are preparing to go to the mattresses.

 

 

Comments

[Rex]

What about all the spending reductions already agreed to?
What amazes me about Republicans is that they forget about the victories they've already achieved.
I thought elephants never forgot.