They run up the bill to astronomical levels and then demand we keep spending, even while noting we are headed to bankruptcy. How absurd. You can’t have it both ways.
Add to that the fact that Obama doesn’t have a plan to tackle the ‘unsustainable’ trend we are on. The only logical conclusion to this absurdity is that the Obama administration doesn’t care about America’s future. It’s that simple.
(CNSNews.com) – Treasury Secretary Timothy Geithner said that the U.S. government’s long-term fiscal commitments are “unsustainable,” but that they should not be the country’s top priority, because the government still needs to “do things.”
“Our fiscal commitments are unsustainable over the long run, but we cannot put our long-run fiscal challenges above all others,” Geithner told the Economic Club of Chicago on Wednesday. “We have to be willing to do things, not just cut things.” …
In his speech, Geithner said that the government must take a balanced approach of raising taxes and cutting spending in order to preserve the president’s spending priorities.
“The president has a different strategy for economic growth. He believes that while our long-term fiscal problems are formidable, we can address them over time with a balanced package of reforms that preserve room for investments that will help us grow,” he said.
However, President Obama has produced no such plan, and his most recent budget does not include anything similar to what Geithner described. In fact, Geithner himself has admitted that the administration does not have a definitive plan, telling Congress in February that the administration had no “definitive solution” to the nation’s long-term debt crisis.
“We’re not coming before you to say we have a definitive solution to our long-term problem,” Geithner told House Budget Committee Chairman Paul Ryan (R-Wis.). “What we do know is we don’t like yours.”
Geithner said that the government still needs to spend money on programs like the Export-Import Bank, transportation, and welfare programs, taking direct aim at Rep. Ryan’s latest budget proposal, calling it a “dark and pessimistic vision of America.”
“Cutting government investments in education and infrastructure and basic science is not a growth strategy. Cutting deeply into the safety net for low-income Americans is not financially necessary and cannot plausibly help strengthen economic growth. Repealing Wall Street reform will not make the economy grow faster — it would just make us more vulnerable to another crisis.
“This strategy is a recipe to make us a declining power — a less exceptional nation. It is a dark and pessimistic vision of America.”