Analysis: Obama's Unpatriotic Debt

Just how unpatriotic is Barack Obama? According to one leftist former Senator, Obama is more unpatriotic than former President George W. Bush. And just which leftist Senator would dare describe President Obama in such chilling terms?

Why, former senator Barack Obama, of course. In 2008, Obama, in Fargo, North Dakota, stated, “The problem is, is that the way Bush has done it over the last eight years is to take out a credit card from the Bank of China in the name of our children, driving up our national debt from $5 trillion for the first 42 presidents – #43 added $4 trillion by his lonesome, so that we now have over $9 trillion of debt that we are going to have to pay back — $30,000 for every man, woman and child. That’s irresponsible. It’s unpatriotic.

Well, now. The Bureau of Public Debt at the Treasury Department has announced that the National Debt is now $15.566 trillion. When President Bush left office it was $10.626 trillion.

Let’s do the math. Subtract Bush’s debt from Obama’s and we see that the debt has risen $4.940 trillion since Obama took office. In three years. And how much did the national debt rise in Bush’s eight years in office?  $4.899 trillion.

In his 2011 State of the Union address, Obama asserted, “Now, the final step – a critical step – in winning the future is to make sure we aren't buried under a mountain of debt.”  Hmmm. And Sarah Palin was lambasted for appropriately referring to Obama’s slogan, Winning the Future, as WTF?

When Obama sounded the call for hope and change, when he accused President Bushof being unpatriotic, he got away with it. But does anyone believe that if Obama were accused of being more unpatriotic than Bush the uproar would not be deafening?



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The past several months have seen the price of gold slump even as the Fed and other central banks have accelerated their massive expansion of paper money. Gold is off about 20% so far this year with silver down almost 30%. The old adage--“don’t fight the Fed”--particularly comes to mind now because the US equity markets have been setting new highs during this same period. All of these gains are nominal, you understand, but for terrified American policy makers and investors, nominal is just fine.

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