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by Hope for Change (writer), , February 14, 2012

what has happened t the deficit under Obama, and why it will get worse

THE DEFICIT

In October of 2008, our national debt was $10 Trillion dollars. Now, after just three years under Barack Obama, our debt is at $15.3 Trillion. What has been the major driver of this massive debt?

Since 2008, there has been an astonishing 23% increase in the number of people getting federal aid of some kind, now up to 67 million Americans. About 12 million more Americans are now dependent on the federal government than there were just four years ago. These 67 million Americans receive – on average – about $32,000 per year in aid. This works out to just over $2.1 Trillion dollars per year. A family of 4 making $60,000 a year will actually have less disposable than a single parent with two kids making $14,500, because of all the loads of entitlements they can receive.

Even if we just stay on this current growth rate we’re in trouble. After racking up $5 Trillion in new debt in three years, does anyone think Obama will slow down? Actually, in a second Obama term our debt is going to grow even faster because:

1. Obamacare will put 30M more Americans on Medicare. This will result in more than 100 million Americans being on federal aid – about 1/3 of the population. Perhaps more than any other single factor, Obamacare will explode our national debt.

1. Obama will work hard to get even more people on entitlements because this is where he derives his power from. Liberals believe that if they can provide for your needs, they own your votes. Obama’s ultimate goal is to get as many people as possible dependent on the government – not fewer. Unfortunately for the rest of us, more people receiving government money means even more spending and even more debt.

1. Obama will also continue to talk about “fairness” in our tax system. He says that the wealthiest Americans aren’t paying enough. He’s lying. The fact is that:

• The wealthiest 1% - pay 37% of all federal taxes.
• The wealthiest 10% - pay 72% of all federal taxes.
• The lowest 49.5% - pay 0% of all federal taxes.

However, if reelected, Obama will find ways to tax and get more revenue from these wealthiest Americans. Beyond the fact that this is simply immoral, this will lead to a still weaker economy, which will further reduce revenues, which will further increase the deficit.

Obama knows he can’t get reelected on his record. He has shown what his strategy will be - to appeal to those who want something for free and hope there are enough of them. His campaign will be a never ending stream of commercials and speeches where he tells Americans that he is their Robin Hood – he will take from the rich and give to them. It’s up to those of us who understand how wrong this is for America to spread the word and make sure that a majority of Americans see through this and don’t buy into this lie.

There was news this week of more riots in Greece, with citizens protesting further cuts in all the things they’ve gotten used to getting for free. Margaret Thatcher once said “Socialism is great….until you run out of people to pay for things”. Greece has run out. Take a good look, and remind everyone you talk to that this is what lies ahead for us if we go down this path.

Hope for Change is a writer for BrooWaha. For more information, visit the writer's website.