And now for the fifth of my posts inspired by an editorial cartoon this week. Today’s was drawn by Chuck Asay.
Our government running up debt is a reality, and has been since before our country was founded. Article VI of the Constitution mentions that the new United States would still be responsible for all the debts incurred by the previous Confederation government. And pretty much every administration since then has run up the nation’s debt. But under President Obama deficit spending has ramped up to a whole new level. Here’s a telling graphic that is often posted at Gateway Pundit’s site:
Chillingly, the deficit run up by this administration in 2010 alone is close to $1.5 trillion. That’s in addition to what you see in the graph, which contains only figures up to 2009.
And what have we actually received for the $3 trillion deficit run up by President Obama’s administration? And how many generations ahead will be paying for this useless extravagance?