The new fiscal year (2010) started on October 1, and the news isn’t good; the country is now $11,776,112,848,656.17 in debt, up $1.652 trillion from the previous year. This amount, while scaring the general populace half to death, doesn’t seem to phase the president or members of his administration too much.

The president commented at a Town Hall meeting in Bristol, Virginia: "They basically handed me a bill for $1.3 trillion and said, 'Here, fix it.' And now they're on TV saying, why haven't you fixed it yet -- in the middle of the greatest recession since the Great Depression."

It must be pointed out that the nation’s debt stood at $10.626 billion on Inauguration Day. So even though the previous Republican administration had a pretty big hand in the skyrocketing debt, it’s Obama’s hand — and signature — that has seen the amount move into the upper reaches of the stratosphere.

The president even conceded that he has added to the debt problem, saying: "Look, I understand the concern about debt. I'm looking at these spreadsheets every day. We dug ourselves a deep hole. We’re going to have to tighten our belt.”

How has the president helped the government tighten its belt? First, he signed a $787 billion stimulus plan that has seen hundreds of billions of dollars distributed with no accountability. Moreover, he continues to push for a health care reform bill that, even using the lowest-cost estimates, will cost about $774 billion over 10 years, according to the Congressional Budget Office.

According to the White House, "fixing" health care is a necessary first step toward repairing the economy. Administration spokesman Robert Gibbs has said: "We're not going to make progress on the deficit without dealing with health care."

Common sense says, however, that government spending can not save the economy. If spending is what drives an economy, the U.S. should by now see the greatest economic blessings on the planet; poverty would be eliminated and there would be little debt experienced in two-income, hard-working families, there would be more discretionary income for charities, unemployment would be down, and house sales and construction up. But such is not the case.

Every single penny that the government spends must first have been taken from the people either through taxation or it must be borrowed, sometimes even from foreign countries. Ultimately, borrowed money must eventually be repaid by current or future citizens. Whenever the government spends money, it isn’t creating new income, it’s redistributing what already exists. 

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DDW said:

	Lets start By shrinking the fedgov and it's associated agencies and bureaucracies!!!
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October 07, 2009
Votes: +2

Still Free said:

	The reason? The reason the Administration and the POTUS are unfazed is that their plans do not include the dollar. What's a trillion dollars here, or a trillion dollars there if the dollar no longer exists? Yes, the general populace is scared--I know I am. Get involved. Join JBS. Donate.
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October 07, 2009
Votes: +2

AmericanFreeman said:

	It's THEIR debt... ...Let THEM pay. We the People haven't been adequately represented in over 200 years. If it isn't OUR demand (by votes on issues, not figureheads), then it isn't OUR obligation. Just let them charge us off like normal creditors do. America will be better off without the input of the rest of the world, anyway.
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October 08, 2009
Votes: +1

jimcol51 said:

	The third tax "Every single penny that the government spends must first have been taken from the people either through taxation or it must be borrowed, sometimes even from foreign countries." And don't forget the hidden tax of inflation. A large percentage of this money comes from the Fed just printing it out of thin air - we all pay for that.
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October 09, 2009
Votes: +1

dab said:

	... Like the wrestler on tv says "Its mind over matter.....When you do not have a mind anymore, it doesnt matter". Seems most of the people in the congress have not a clue as to where we are going to get several trillion bucks, unless it plans to bankrupt the US and forces socialism/communism on us,"We the people".
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October 11, 2009
Votes: +1