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Roanoke Times, 4-4-11, Pg 1: State funding cut backs impact localities; funding needs could preclude raises; cutting funding a ‘slap in the face’.
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The liberal media continues to lament and highlight and emphasize their views of the disaster of reducing government budgets and spending and borrowing.
Nowhere do they highlight the disaster of the revenue (income) being consumed by the service on the debt (interest payments) and the crushing tax impacts on the 50% of Americans who are carrying the tax load! In addition these burdens are being compounded by big increases in energy and food costs thanks to the Obama policies on energy and ethanol.
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For over indebted individuals, businesses and governments, interest payments consume the funds required for living and growing and financial survival.
Our people, localities, Authorities, states, the federal government and many businesses have sunken into a swamp of debt and financial commitments that threaten their ability to survive bankruptcy. We have a debilitating spending and borrowing addiction with yet another two million home foreclosures in the process.
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Obama and the Democrats have totally ignored the results of Obama’s Debt Commission:
NEW YORK (CNNMoney.com) -- The country got a little shock therapy last week when the co-chairmen of President Obama's debt commission offered their recommendations for curbing U.S. debt. One of their goals: reduce deficits by $4 trillion over the next decade.
http://money.cnn.com/2010/11/17/news/economy/debt_commission_rivlin_domenici/index.htm
If that were done, and it’s clear Obama has rejected his own Commission, it would have a very small impact on the current $14.4 TRILLION national debt and the interest due.
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Instead of addressing these critical problems Obama and the Democrats are threatening to shut-down the federal government over a paltry and anemic $60 Billion reduction in this years $1.4 TRILLION budget deficit! That’s a 4% reduction in just the deficit portion of the spending!
The $60 Billion reduction is 1.6% of Obama's proposed $3.7 TRILLION 2011 budget that will result in an additional $1.4 TRILLION deficit and debt.
The people I know have all reduced their spending by a lot more than 2% and they don’t understand why the government can’t do the same!
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What a sad and disappointing period in American Leadership History!
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Prior Items:
http://roanokeslant.blogspot.com/2011/03/roanoke-times-editors-helping-drive.html
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http://roanokeslant.blogspot.com/2011/03/miami-ice-recall-mayor-for-tax-spend.html
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http://roanokeslant.blogspot.com/2011/01/obama-i-have-just-begun-to-spend-your.html
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