The United States national debt currently stands at 10.71 trillion dollars. Individually that comes out to a 37,000 dollar tab for every American citizen. If you're earning less than 37,000 dollars you have a problem because the government is busy piling on a debt that you can't repay.
The bailouts and spending packages attempt to use government spending as a remedy for the "failures of the free market". But where can the government raise that money except by skimming more off the top of that same free market? The government does not generate revenue, it spends it.
If the free market is gambling in Las Vegas, the government is sitting at home watching the Home Shopping Network and running up fantastic amounts of debt on the free market's credit cards. The more the government taxes and spends, the more blatantly parasitic it becomes, and the latest attempts to leash the free market to do the bidding of the government is right up there with killing the goose that laid the golden eggs.
Obama's giant spending bill disguised as a stimulus package is set to push the debt ceiling even higher. The potentially 1 Trillion Dollar spending bill, rushed through by the Congress of Corruption, and backed by Tax Cheat Geithner, the man responsible for doing more damage to the US economy than a tornado to a pine forest, the massive frivolous spending bill will only spend the US deeper into debt.
We're already headed for a budget deficit of 1.2 trillion, but rather than exercising budgetary discipline, Obama and his cohorts are piling on the pork as if there was no tomorrow. As the National Debt continues to climb, the value of US Bonds becomes further devalued. Increasing deficit spending makes America's financial situation that much worse. If the national debt passes 70 percent of GDP, something it was projected to do even before Obama's Spending Spree, we might be looking at a true economic free fall.
Obama's fallacy of insisting that government spending drive economic recovery overlooks the fact that the money the government is spending can only be derived by further bleeding an already depressed economy through taxation and higher debt levels. Fairly soon Geithner will be forced to raise the debt ceilling again, taking the US national debt past 12 trillion dollars. And by the time 3/4rs of the GDP is debt, the US economy will quickly begin to look like that of an African nation that keeps borrowing itself deeper and deeper into a hopeless spiral of debt.
As Margaret Thatcher pointed out, the problem with socialism is that sooner or later you run out of other people's money. Of course when you begin nationalizing other people's money thereby cutting off their productive ability to create more revenue, you run out of their money a lot faster... as every Communist country in the world has demonstrated exhaustively for our benefit.
That is why Obama's attempt to pass off a blatant spending bill as a stimulus package is nothing short of economic fraud, a problem most of his Cabinet of Crooks seems to suffer from. The government is not our economic savior, most of the time it is the problem. The free market has its flaws, but a tax and spend government draws more and more money out of the system, and into the rat holes of its own bureaucracy, and in kickbacks to its own political supporters.
Paying taxes may be patriotic, but spending tax money isn't. Generations of irresponsible tax and spend politics has bulked up the national debt well above the belt. And the longer it goes on, the weaker the economy becomes, turning more vulnerable to even small setbacks, and relying on riskier and riskier investment strategies in order to stay ahead of the ever hungrier appetite of the Taxman.
The pro-Obama media pushed the perception of a collapsing economy, which combined with the antics of government mandated mortgage lending, as well as some of Obama's own supporters at places like Countrywide, created the current economic crisis. Rather than take responsibility for it, Obama is pushing the same tax and spend politics combined with increased government control that have turned America into a debtor nation in the first place.
A true economic recovery begins by cutting government spending. Taking the government boot off the economy's neck, and its greasy hand out of its pockets, is vital for any real economic recovery to begin.