OCTOBER 28, 2012 BY RICHARD LARSEN 3 COMMENTS

Why Obama Isnt Concerned About The Debt SC Terminating Fiscal Incompetence

As we head into the final stretch on the presidential campaign, the ultimate decision on who leads the nation into the future comes down to a few core issues for the most part. We must, as Americans who share a love for this republic, make a choice on whether a continuation “Forward” of the past four years or a different, more fiscally responsible course will ensure the perpetuity of the country.

With a $15 trillion economy and a $16 trillion federal debt, the United States is currently at 107% debt to GDP. Much of our debt has been funded the past three years by Quantitative Easing, with the Federal Reserve having printed over $3 trillion of new bills to increase circulation in M1 and incestuously buying our debt with that new currency.

Those factors, combined with four consecutive years of an average $1.44 trillion in deficit spending, have given us an economy and a currency that’s nearing an implosion stage. David M. Walker, former Comptroller General under President Clinton, says that at our current trajectory, the entire economy and currency will collapse in 2-3 years.

An important point must be made as it relates to the deficit. Many people have erroneously and fallaciously blamed George Bush for the deficits we now have because the two fronts on the war on terror, Iraq and Afghanistan, were “off budget.” Yes, they were “off budget,” meaning they were not included in the president’s or Congress’ budget figures, but they were not off the balance sheet. The cost of those conflicts was, by law, included in the total debt and total deficit figures each year.

To put the “off budget” concept into perspective, the massive spending of the past six years hasall been off budget. Nancy Pelosi never passed a budget in the four years she was Speaker of the House, and it’s been three years since the Senate passed a budget. The end result is that over $8 trillion in spending over the past six years has all been “off budget” but still included in the OMB (Office of Management and Budget) total expenditures for each of those years.

Economists are unanimous in their concerns for the “Taxmaggeddon” scenario we face at the beginning of 2013 when the tax cuts implemented in 2001 and 2003 and the adjustments from 2005 are set to expire on Dec. 31, 2012. This amounts to an automatic tax increase of over $600 billion that will impact everyone in every bracket. Two years ago, Obama said allowing expiration of those tax cuts was unfeasible until the economy improved. Well, two years ago, we had a GDP growth rate of 3.5%. We’re now at 1.3%. The case is even stronger now that none of those tax increases should be allowed, as they will most assuredly push the nation into another recession.

We also have a sequestration crisis facing the nation at the end of the year. This act has already imposed $45 billion in cuts to defense, will immediately cut another $60 billion, and will automatically impose over half-a-trillion in mandatory cuts to the military over the next several years if not acted on. Obama promised in the debate the other night that this will not happen, but he also promised us four years ago that he would cut the deficit in half. His “promises” ring hollow.

The logical question is who is most likely to remedy these crises? Certainly not the one who created the debt crisis. Remember, we were still at 58.6% debt to GDP at the beginning of his term, while now we’re at 107%. Certainly not the one who refuses even to meet with opposition party leadership, submitted such unreasonable budgets that they were unanimously rejected by Congress, and ignored his Simpson-Bowles commission’s report to reduce the deficit.

The one who obviously has an ability to solve these critical fiscal crises is the one who turned a state’s $3 billion deficit into a $1 billion surplus, without raising taxes, all with a legislature that was comprised 87% by the opposition party. Mitt Romney is the one who has proven he can realistically “reach across the aisle” and work out solutions to our financial plight.

Couple this with the fact that the despotic world leaders who hold greatest contempt for America have expressed their support for our sitting president. What does that tell you when Hugo Chavez, Raul Castro, and Vladimir Putin have all endorsed Obama? Mahmoud Ahmadinejad did four years ago and has not recanted.

Logic should dictate that the one who created our current mess and has already proven his fiscal ineptitude shouldn’t be trusted or expected to do anything different given another four years. The president has validated the Peter Principle, that all people rise to the level of their incompetence, and now it’s time for a change.

AP award winning columnist Richard Larsen is President of Larsen Financial, a brokerage and financial planning firm in Pocatello, and is a graduate of Idaho State University with a BA in Political Science and History and former member of the Idaho State Journal Editorial Board. He can be reached at rlarsenen@cableone.net.

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Comments

JoAnn523 says:
October 28, 2012 at 9:46 am
The thing that is totally boggling my mind is everybody, not only in America,but the entire World knows obummer is totally incompetent ,yet millions still worship the ground he hovers over! What is wrong with people are they tired of being free? Do they just want to give up and stand in line for a loaf of bread for hours?
It’s like something has been sprayed in the air to numb the minds of so many people.
I have to be missing something,but just do not know what that is at the moment.
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- Gabor Zolna says:
  October 28, 2012 at 11:15 am
  JoAnn523, sadly I feel that you are not missing anything, the Obama Chicago Machine has opened up every flood gate that they can to win the hearts and minds of the American people, through their stomachs. He and his dysfunctional Administration, coupled with his Propaganda Minister David Axelrod, have created millions of people to be totally and completely dependent on the Federal government.
  Absolutely every social service is busting at the seams, welfare, food stamps, disability insurance,Medicaid, coupled with Obama circumventing Congress with immigration policies, they have built up a very large voting block that will vote for Obama in expectations of their handouts still being provided to them.
  Obama’s Administration is similar to a freight train charging down the tracks with no one at the throttle. There are very few business minded individuals within his Administration, and Obama himself recently said that he is unable to help his daughter deal with her math homework,what more does anyone need to know?
  If Obama wins one way or another, America will soon be in its death throws.
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EdinNola says:
October 28, 2012 at 12:12 pm
It is Obama, but it is also much more than Obama. Its all part of the plan and you can read all about it at http://www.gov-truth.com
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Lt. Col. Calls Rush: "White House Can't Deny Obama Knew About Benghazi Attack Immediately"

Lt. Col. Calls Rush: “White House Can’t Deny Obama Knew About Benghazi Attack Immediately”

OCTOBER 28, 2012 BY DANIEL NOE 11 COMMENTS

Retired Lt. Col. & Special Ops Planner explains WH protocol to Rush Limbaugh.

Comments

JoAnn523 says:
October 28, 2012 at 11:00 am
Bottom line, obummer just couldn’t let his bullying terrorist comrade’s get injured by the horrible American troops! GOD please don’t let me hate him so much!!! How can this keep going on? Its like the worst horror movie I’ve ever seen! Only people like Clive Barker could come up with a hideous character like obummer! Things like this just do not happen in America so it must be a nightmare!
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Networker4321 says:
October 28, 2012 at 11:48 am
I tryy to click on many of the side banner articles like “Bombshell: Clinton ordered more Security in Benghazi, Obama denied request” But that shows as a “bad line, error 502. Are we being blocked, have these been taken down?
i am not paranoid, nor am I a conspiracy theorist but, this is happening way too often.
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watchman48 says:
October 28, 2012 at 12:20 pm
If this is not enough ammo for the top military brass to use for grounds of removing Pres. Obamaand all of his administration from the White House, WHAT IS?
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bentonbain says:
October 28, 2012 at 12:40 pm
There was no rescue attempt because this was an Obama & Clinton planned kidnapping of the ambassador for the Muslim Brotherhood to trade for the blind sheikh that Egypt wants released. This is why those in the annex were told to “Stand Down” so they did not interfere in the kidnapping. This was Obama’s October surprise being a hero by trading the blind sheikh for the kidnapped ambassador. Obama has had 100s of meetings with these Muslim terrorist groups in the White House. Obama was born and raised as a Communist Muslim, his ring is a Allah ring, Jarrett is Obama’s main adviser is a Muslim. Hillary’s secretary is a Muslim with connections to the Muslim Brotherhood.
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giljones says:
October 28, 2012 at 3:53 pm
High Crimes and Misdemeanors, hmm, let me see, hah!…this is a High Crime…Off with his head!! And all the others who wants to see him keep it…Semper Fi
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- watchman48 says:
  October 28, 2012 at 4:08 pm
  giljones – That would make us no better than the muslims…. First a trial and if found guilty let the sentence fit the crime.
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michael11 says:
October 28, 2012 at 6:38 pm
Why isn’t anybody pressing the President on, “WHO ORDERED THE STAND DOWN, THREE TIME?), He is the one that America need’s to go on trial, found guilty, then put in front of a firing squad, and kill the killer of these four American Patriots. I can’t fathom the thought of this ONE GUY sitting down with those who are saying, we need to go and rescue, but he just sit’s there saying stand down, stand down, stand down, I hope those words haunt him the rest of his lfe, that every morning, when he wakes, those words continuely penetrate his clueless mind every second of the day. I am so sick of this administration, that even in comparison to President Jimmy Carter and his Iranian hostage debacle, I would now take Jimmy anyday as my President then this clueless amature we have as President today. Nothing but lies comes out of the President, the VP, the State Dept heads, the Chief CIA boss, and certainly this no count Defense Sect, The Ambassador to the UN, and every other no count so called boss’es, MOUTHS, they are All protecting that one no count, clueless amature of a leader, HE/She is a Complete embarrassment the this great country, and for those who voted these amatures in, we know why you all did it, because, all you dumb anus’s can ONLY think of yourselves, and NOT the country, You voted your pockets, when he promised you Obama money. Obama Phones, or a stimuless that completely went to waste, but all you who recieved the stimuless money, went laughing all the way to the bank, but voted for Obama just the same, gutless, lazy people, who are not smart enough to vote any other way, because they can not think for themselves, they had to have the Obama team bribe them in order to vote, then voted for that amature of a president. America really need to re-think the age limit to voting, and go back to 21, and even that is to darn young.
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siquijorisland says:
October 28, 2012 at 8:09 pm
this guy knows what he is taking about when this type of message is generated it is automatically send by multiple routs and bells and lights and whistles go off in the receivers area. to no missing the message. This is like saying i did not hear or see the firetruck.
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Thomas Paine says:
October 28, 2012 at 8:28 pm
DON’T FORGET: Operation Benghazi Accountability-
1 MILLION CALLS TO THE WHITE HOUSE TOMORROW-
PHONE-
202-266-7453
or
202-456-1414
Please share this.
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Thomas Paine says:
October 28, 2012 at 8:30 pm
DON’T FORGET: Operation Benghazi Accountability-
LETS DEMAND ANSWERS
1 MILLION CALLS TO THE WHITE HOUSE TOMORROW-
PHONE-
202-266-7453
or
202-456-1414
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Pete says:
October 28, 2012 at 9:07 pm
Obuminable and his anti-American, pro-muslim terrorist cronies will deny any wrongdoing. I look for them to blame Bush. It is time we rise up together and retire the whole bunch of Obuminites to Gitmo or Leavenworth. Perhaps Obuminable, if indicted and convicted for treason and murder (as he should be) could share a cell with a few former military men who have lost friends and/or family members in combat. Obuminable must not be allowed to get away with this murder of American citizens.
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