Obama’s Five Trillion Dollar Lie

Michael Snyder

The Economic Collapse

Tuesday, May 22, 2012

Why isn’t the U.S. economy in a depression right now? The number one
reason is because the federal government has stolen more than five
trillion dollars from future generations since Barack Obama was elected
and has used that money to pump up our grossly inflated standard of
living.

Whether the federal government spends money wisely or foolishly, the
truth is that the vast majority of it still ends up in the pockets of
the American people who then use it to buy the things they need for
their daily lives. If the U.S. government had not borrowed and spent an
extra five trillion dollars that we did not have over the past several
years, we would be in the middle of a rip-roaring economic depression
right now. So any talk that Barack Obama is “improving the economy” is a
total farce. It is a five trillion dollar lie. The reality is that
Barack Obama and the U.S. Congress have been stealing trillions of
dollars from future generations in order to make things tolerable in the
present. If the federal government adopted a balanced budget next
year, the debt-fueled prosperity that we are currently enjoying would
start disappearing very rapidly and all hell would break loose in
America.

At this point, the U.S. national debt is over 15.7 trillion dollars.

When Ronald Reagan took office it was less than a trillion dollars.

If you were to divide the national debt up equally, it would come to
more than $50,000 for every man, woman and child in the United States.

So the share of the national debt for an average family of four would be about $200,000.

When the government borrows and spends money that it does not have,
that increases the amount of dollars in circulation and it causes GDP to
go up.

That is one of the reasons why our politicians like to borrow and
spend money that we do not have. It makes the economic statistics look
good. They can point to those economic statistics as a reason to send
them back for another term.

This is a major flaw in our system. Most of our politicians do not
care about how they are raping future generations financially. Most of
them just care about getting elected again.

If you will notice carefully, neither Mitt Romney nor Barack Obama
are promising to balance the budget any time soon. Like so many
politicians in the past, they promise to do it “eventually”, but
“eventually” never arrives.

According to a recent article in the Washington Times,
Mitt Romney declared during a recent campaign appearance that he has no
plans to balance the federal budget in his first year….

“My job is to get America back on track to have a balanced budget. Now I’m not going to cut $1 trillion in the first year”

Why would he say that?

Why wouldn’t he want to balance the budget?

He went on to explain that….

“The reason,” he explained, “is taking a trillion
dollars out of a $15 trillion economy would cause our economy to shrink
[and] would put a lot of people out of work.”