This graph was generated by the Congressional Budget Office showing the projected budget gaps through 2021. Ignore the gray shaded portion of the graph on the right side (for now) and focus on the period of time from the point when the Democrat Party took control of Congress in January 2007 through now. An analysis of this period of time below clearly shows our problem.
Government spending increased over 20% and revenues dropped 19% (normalized by the percentage of GDP). Our vice president’s theory that we have to spend more money in order not to go bankrupt is based on the ethereal projections of future revenue. This is the gray shaded portion of the graph that shows government spending levelling off but projected revenue increasing 50% in the next ten years. No sentient American believes our economy will recover and generate this level of revenue in this time frame. The only possible explanation would be that the US dollar will be devalued 50% (or likely more) and inflation will be responsible for this increase. However, this scenario would necessitate a corresponding increase in spending that is not accounted for in this projection.
As the people in the United States become educated on the scope of our debt and its impact on our future, reality is starting to manifest our destiny as shown in the current negotiations for the debt ceiling. No matter what “compromises” are negotiated in Washington, the economy and our nation’s credit rating are not participating in any form of “recovery”. Our destiny is in our hands and we must stand together and be resolute in our convictions: freedom must NEVER be given up for security. Do you think the 70 million government checks going out to people on August 3rd represent freedom?
David DeGerolamo
