A couple of years ago, the president of the United States told us deficits don't matter. That was also to infer that the national debt does not matter. Today, and for the past couple of weeks, it seems like the national debt is all that matters.
How did we get to this situation? Many presidents have worked with budgets that have had deficits. A few have had surpluses, but many more have had deficits. Some have had huge deficits. The size of these huge deficits is no relative. Recent presidents have had budgets that have created deficits annually into the hundreds of billions of dollars. That seems like a lot of money. But the current administration has had deficits of 1 1/2 trillion dollars annually for the past three years. That seems like a lot of money.
Most recent presidents have again and again claim to want to do something about the annual budget deficit and the national debt. Few have actually done anything about it. Raising the debt ceiling has usually had little impact on our day-to-day life. So how did the annual deficit gets so large? Our national debt has increased 40% in the past three years. That has added $4 trillion to the $10 trillion that President Obama came to office with. Having made some campaign promises to get the national deficit under control and the economy rolling again, I'm having a hard time finding any sort of positive results.
This is the third annual summer of recovery. But because the economy is still in such bad shape, even the Democrats are not using that phrase this year. This was supposed to be an historic presidency. Well it is. For the first time in history, the United States' credit is at risk of default. Unemployment is at a rate that is being compared to the Great Depression. And it is lasting almost as long. The federal government has grown at an unprecedented rate. And during this time of economic instability, the president has focused on $1 trillion entitlement. So what's the cure to get the economy going this time? Higher taxes.
Even with the debt negotiations, $1 trillion is being sought in revenue growth. I don't think there's anyone dumb enough to not be able to translate that phrase into tax increases. There's only a few liberals out there who think they're still fooling people. With the health care bill there also came $1 trillion worth of revenue growth. So now the president wants to raise taxes to trillion dollars over 10 years? As bad as that seems, with trillion dollar annual deficits, it's hard to conclude how this will really make a difference.
When the president took office, he increased discretionary domestic spending by about 78 %. This is according to Paul Ryan. So with the dramatic increase in discretionary domestic spending, how did we get to a point where nothing can be cut? Any cuts will harm children and kill the elderly. That's what the liberals are trying to tell us.
In last November's election, Republicans were swept into office due to their promises to cut spending and limit government. Yet all of their cots are being met with complete resistance by the Democrats. Then comes the blame game and we wonder why we're polarized. Tea party Republicans had a simple message: we are taxed enough already.
Again comes the banter that we can't make the tough decisions. Well, the Republicans have put out a couple of plans that get shot down as gimmicks yet the Democrats and the president had no plan at all. It really shouldn't come as a surprise, because the president has not put a budget out in over two years. His plan is to get as many people dependent on the government as possible. We have seen that in the growth of the number of people who now need food stamps and other welfare programs. Tough decisions can't be made by people who have been weakened by government dependence. The free market has been something that has been demonized. Anybody who wants to make money has been labeled as greedy. They have been labeled as greedy by people who are envious of personal success.
People like President Obama and Warren Buffett have come out and said that people at their income levels should be paying more taxes. Yet there is no evidence that they write generous checks to the federal government. Warren Buffett says he makes generous donations to charities. That's great that he does, but let's ask the question, why? Why doesn't he just write a check to the government? If the government should get more of his money, they should know better what to do with it then he went directing it to a charity. That's the liberal mindset. Government knows better than we do. And why is Warren Buffett still worth 50 billion? According to the president, he has reached the point that more money will not buy him anything better. He already has it all, so the government should be sharing in his success. If the government had his 50 billion, they could spend it wisely in about... an afternoon.
So what's going to happen by August 2? I predict a last-minute deal to keep the United States from defaulting on its debt. Then, Barry will be able to march off to his birthday party, claimed victory for his leadership, and blame Republicans for driving up the national debt. And the rest of us will be left to wonder what happened to this historic presidency that was supposed to get the economy back on track, unite the country, and transcend the partisan bickering that everybody hates yet still participates.