Presidents love to lie about cutting spending.
New video produced by the non-partisan Bankrupting America on Washington’s history of inaction on cutting spending
Talk Is Cheap, Overspending Is Not
In 1986 our debt was $2.1 trillion and Washington was making promises to rein in our excessive spending. Twenty-seven years later Washington is still making promises, but the only differences we see are a $16.5 trillion debt and better picture quality on C-SPAN.
If we’ve learned anything since then, it’s that the only thing a talking politician is good for is a distraction. #TalkIsCheap.
DB here. Dallas Fed President Richard Fisher calculated that the government's unfunded liability for Social Security and Medicare alone comes to a staggering $99.2 trillion, or $330,000 for every man, woman, and child in the United States.
It's an impossible figure, but still on the low side compared to this estimate of $222 trillion published at Bloomberg.
The national debt has grown by $6 trillion since the Spender-In-Chief took office, and four more $1 trillion deficits are on the way before Obankster leaves Washington in 2016.
Check the debt clock and decide for yourself. Is there anything, anything at all, that appears 'under control' to you?
Bonus - David Walker with Jon Stewart.
"There is no party of fiscal responsibility in Washington."
"When the statutory budget controls expired in 2002, Washington lost total control. Unfunded tax cuts, unfunded war costs, expansion of entitlement benefits. And we are where we are today."