President Obama sold our children into debt. He did it as surely as if the children had taken student loans and car payments.. except our children received no education and no car in return. Today’s children have 56 thousand dollars of government debt at birth. They pay for it with everything they buy. The real question is why.
Where was the money spent? Obama made sure his crony political contributors got paid even though a record number of us are out of work. “Shovel ready projects” were designed to shovel money to politically connected companies who siphoned some of the “free money” back to the politicians. We voted a Chicago politician into office, and that is the Chicago way.
How long should that political bribery continue? My last name isn’t Bush or Clinton, so I can’t think of a reason our children should pay taxes so politicians can continue to buy donations with public money. Why should our kids pay tomorrow for corrupt politicians from yesterday? Our children should repudiate the public debt. Come to think of it…so should we.
The corrupt political scheme continues for this simple reason. Most Americans are asleep and don’t monitor their government. The present system of massive government spending and debt will continue as long as government bond holders can buy politicians. Eventually, private stock holders will out bid government bond holders. Then the system will collapse and be rebuilt.
Of course, the holders of government bonds will not go easily into history. The US government already forced US banks to buy government bonds. That is why the banks make such large political kickbacks to politicians.
Watch out for the day that the US government says the rest of us have to buy government bonds. That is the day to move your money overseas…if you still can.