John Boehner’s assessment of the national debt will probably be overshadowed in the news by more important topics. Looking at the current Drudge Report, the top eleven stories all deal with a night at the Oscars. As our economy is lowered into an open grave marked with a tombstone inscribed only with FREEDOM, few people want to discuss the only issue that should be our priority.
The Republicans in Congress want to cut $100 billion in spending this year. This amounts to 5.9% of the federal spending in this fiscal year that is unfunded or 2.7% of the total federal spending this year. Gasoline rose 17 cents a gallon last week: a 5.4% increase. Food prices are rising across the world and are the catalyst (or excuse) for the Jasmin Revolution.
The following excerpt from the Wall Street Journal puts this into perspective:
In accounts of the political unrest sweeping through the Middle East, one factor, inflation, deserves more attention. Nothing can be more demoralizing to people at the low end of the income scale—where great masses in that region reside—than increases in the cost of basic necessities like food and fuel. It brings them out into the streets to protest government policies, especially in places where mass protests are the only means available to shake the existing power structure.
A quick look at the budget deficit shows that the debt has increased 75% since the Democrat Party took control of Congress in 2006. Mr. Boehner’s assertion that the Obama administration “squandered” an opportunity to tackle the debt would have some merit if the administration had ever attempted to tackle this debt instead of exacerbate it. The truth is that rhetoric will not erase a national debt that has been engineered to destroy our country. Now that this country is bankrupt, the cost of “immorality” will be reflected in higher energy and food prices as the dollar collapses.
David DeGerolamo
John Boehner: Debt a ‘moral threat’ to the country
The national debt is a “moral threat” to the United States, House Speaker John Boehner said Sunday, an impending peril about which some people are realizing they “better start praying.”
Speaking in Nashville on Sunday night, the Ohio Republican described the country’s mounting financial obligations as “a mortal threat to our country … [and] also a moral threat,” calling it “immoral to bind our children to as leeching and destructive a force as debt” and “immoral to rob our children’s future and make them beholden to China.”
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