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Saturday, October 6, 2012

Opinion on America's Debt Problem

With the Federal Debt now at $16 Trillion plus dollars and the annual Federal Deficit running at over $1 Trillion AND with no end in sight, the following quote takes on new meaning, especially after the $5+ Trillion dollars that Obama and his Administration has added to the burden for our children and grand children.

"The fact that we are here today to debate raising America's debt limit is a sign of leadership failure. It is a sign that the US Government cannot pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government's reckless fiscal policies. Increasing America's debt weakens us domestically and internationally. Leadership means that, "the buck stops here.' Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better." 

~ Senator Barack H. Obama, March 2006

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