Out­rage: Ad­min­is­tra­tion is bankrupt­ing the na­tion

The Washington Times Weekly - - Commentary - Cal Thomas

“Nei­ther a bor­rower nor a lender be.” — William Shake­speare, “Hamlet”

Why won’t we lis­ten to what used to be called sage ad­vice be­fore the In­ter­net made too many of us think we are rein­vent­ing the world and noth­ing we think or try has ever been thought or tried be­fore?

The Obama ad­min­is­tra­tion is ru­mored to be se­ri­ously con­sid­er­ing a sec­ond stim­u­lus mea­sure to “im­prove” the econ­omy. Given the job losses since the last stim­u­lus, I’m not sure we can stand more of that kind of stim­u­la­tion. Never mind that mil­lions from the first stim­u­lus can­not be found and that bil­lions more have yet to be spent. And how soon Democrats for­get their once-great con­cern about bur­den­ing fu­ture gen­er­a­tions with debt and de­pen­dency.

Pres­i­dent Obama’s bud­get has pro­jected deficits of $9.1 tril­lion over the next decade. Brian Riedl of the Her­itage Foun­da­tion has looked into it and found the num­bers to be in­ac­cu­rate and mis­lead­ing. What the pres­i­dent’s bud­get ig­nored is an ad­di­tional $4 tril­lion in likely ad­di­tional spending, which ex­cludes, says Mr. Riedl, the fol­low­ing.

Ad­di­tional dis­cre­tionary spending ($1,545 bil­lion).

Health care re­form ($595 bil­lion in spending and $583 bil­lion in rev­enues). And that’s just for starters. As we have seen with Medi­care, ini­tial pro- jec­tions by the gov­ern­ment, no mat­ter who runs it, are al­most al­ways wrong.

Ad­di­tional ca­pand-trade out­lays and rev­enues ($821 bil­lion in spending and $214 bil­lion in rev­enues). Ex­tend­ing “ex­pir­ing” en­ti­tle­ments ($216 bil­lion in spending). No­tice that once any­thing be­comes an “en­ti­tle­ment,” end­ing it is a vir­tual im­pos­si­bil­ity.

Net in­ter­est ex­penses re­sult­ing from the in­creased deficit spending ($251 bil­lion in spending). Please read that last one again. We the tax­pay­ers are go­ing to be forced to spend $251 bil­lion in in­ter­est on the debt be­cause our gov­ern­ment can­not do what ev­ery Amer­i­can must do: con­trol spending.

More re­al­is­tic in­ter­est rates ($1,328 bil­lion in spending and $65 bil­lion in rev­enues).

That’s how the ad­min­is­tra­tion gets to $9.1 tril­lion. Re­mem­ber, this was go­ing to be an hon­est and trans­par­ent ad­min­is­tra­tion.

Mr. Riedl says the re­al­ity of the pres­i­dent’s bud­get dur­ing the next decade is much dif­fer­ent from the al­ready ou­tra­geous spending to which it ad­mits. Ac­cord­ing to Mr. Riedl’s anal­y­sis, the pres­i­dent’s bud­get agenda would ac­tu­ally re­sult in:

An ad­di­tional $5 tril­lion in spending, $1 tril­lion in rev­enues and $4 tril­lion in deficits dur­ing the next decade.

Bud­get deficits adding $13 tril­lion to the na­tional debt dur­ing the next decade. Again, reread that fig­ure. Say it out loud. Re­peat it to your spouse-part­ner­child (the chil­dren will be pay­ing for this) and your neigh­bor.

The na­tional debt held by the pub­lic sur­pass­ing $20 tril­lion by 2019, reach­ing nearly 100 per­cent of gross do­mes­tic prod­uct (GDP).

An­nual bud­get deficits ris­ing to nearly $3 tril­lion by 2019.

Spending sur­pass­ing 28 per­cent of GDP by 2019, shat- ter­ing the peace­time record set this year.

Wash­ing­ton spending more than $37,000 per house­hold in 2019, com­pared with $25,000 per house­hold (still too high) in 2008.

(See this and more at www.her­itage.org/Re­search/Bu dget/bg2319.cfm.)

This is why so many are an­gry. This ad­min­is­tra­tion is more than mort­gag­ing our fu­ture. It is bankrupt­ing it, all in the name of tak­ing care of us. The best thing gov­ern­ment can do for us is to get out of the way and let us care for our­selves. Th­ese num­bers are un­sus­tain­able. They are ou­tra­geous. And they will be­come a re­al­ity un­less enough Amer­i­cans rise up and say they are not go­ing to take it any­more.

It’s our money, not theirs. They are now steal­ing it be­fore we make it. Let’s hear some out­rage about this. Let’s sus­tain it through the next three elec­tion cy­cles, beginning next month with the gov­er­nors’ races in New Jer­sey and Vir­ginia. If we don’t, the fu­ture be­longs not to us, but to China, Ja­pan, Qatar, Venezuela and Saudi Ara­bia, among oth­ers — all hold­ers of our na­tional debt.

Cal Thomas is a na­tion­ally syndicated colum­nist.

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