“We don’t have a spending problem.”
Those soothing words apparently are none other than President Barack Obama’s. As the Wall Street Journal’s Stephen Moore reported, House Speaker John Boehner said that Obama insisted to him that America has a problem with health care, not federal expenditures.
Maybe the spendaholic-in-chief is missing something. America is being tortured by a free-spending federal government that acts irresponsibly on good days and illegally on bad ones.
In just the first quarter of fiscal year 2013, Washington dug Americans $293 billion deeper down the hole, the Congressional Budget Office announced Jan. 8. That pace likely will make this the fifth consecutive year with a federal deficit exceeding $1 trillion. This was obscene enough when President George W. Bush botched the 2008 financial meltdown. Since then, Obama gleefully has frolicked in red ink.
Also, federal welfare spending is set to increase 80 percent through fiscal year 2022 and total $11 trillion.