“And though all of these challenges went unsolved, we still managed to spend more money and pile up more debt, both as individuals and through our government, than ever before.President Obama confronts the touchiest subject in government, how to spend the money. As Ron Paul has mentioned in countless speeches and forums, government in the United States have taken the word “compromise” to mean spend the money on both Democrat and Republican projects, increasing the debt and causing money to vanish from tax payers pockets.
In other words, we have lived through an era where too often short-term gains were prized over long-term prosperity, where we failed to look beyond the next payment, the next quarter, or the next election.
A surplus became an excuse to transfer wealth to the wealthy instead of an opportunity to invest in our future. Regulations...
Regulations -- regulations were gutted for the sake of a quick profit at the expense of a healthy market. People bought homes they knew they couldn't afford from banks and lenders who pushed those bad loans anyway. And all the while, critical debates and difficult decisions were put off for some other time on some other day.”
He is correct, however, of his assessment, more than likely because he was in the meeting causing this entire deficit. Senator have the power to stop a budget that is not balanced, but he had done nothing to stop it. Now he is President, so his voice will be heard, right?
Obama than looks at history. Surplus became an excuse to transfer wealth to the wealthy. President Van Buren did do all of this to the surplus Andrew Jackson created; the last time the United States had a surplus. What this has to do with our current situation, I do not know. Maybe, President Obama is try to sneak a punch at the Federal Reserve, reminding them when Democrat Andrew Jackson shut down the Bank of the United State, creating the first and only surplus in the United States.
What am I saying!
Obama is referring to the budget surplus of the Clinton Administration, a creation of the Republican Congress defeating Hillary Care. He is stating that this budget surplus should have been spent on the project the Clinton Administration wanted to spend it on. He is trying to stretch a rumor. Yes, there was a surplus in the budget, but that means that we could start to pay off our debts; not start to gain more. A budget surplus is not a surplus, just a profit in taxes. The United States was still in a deficit.
On the housing crisis, President Obama, it was the Democrats that created the loan regulations to allow the banks to spread the wealth and give loan to those they knew could not pay it off. It would have been in their interest to not give these people money, but the Fed made them, Congress made them. It is your fault we are in this mess, Congress and all of it’s members that did not fight against this. Republican and Democrat, Left and Neo-Right. The True Right, those like Ron Paul, was against this, trying to stop it, but you did not listen. We are now in this mess because the government forced banks to give people loans that the banks knew people could not pay. In the Free Market, those people would not have been given loans, but when the Government gives banks a way out, it is a win-win situation. Goodness, just stop trying to help, you are bleeding the economy to death!
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