SCULLY: You know the numbers, $1.7 trillion debt, a national deficit of $11 trillion. At what point do we run out of money?Nobody will dispute the fact that California’s economy is in a mess and if you know anything about how American politics work you know that it is the State Assembly of California which controls California’s budget not its Governor. That is the case for all state and federal levels of government. It is State Assemblies or Congresses that controls State budgets. Now in California case Democrats have been in control of the State budget for decades ergo California’s decline from the Golden state to the folding state, as the state folds under years and years of additional state programs and additional cost which is symptomatic of what Democrats who are fiscally liberal do with the purse strings of a governmental budget.
OBAMA: Well, we are out of money now.
We all witnessed the California Legislature’s desperate attempt to put up six ballot initiatives, 1A-1F in order to pass their mismanagement onto the backs of the tax payers of California but they were met with a resounding “NO” on all propositions except the one which tied legislator’s pay with a constitution mandate to submit a timely yearly balanced budget to the Governor which the California legislature has failed to do for years.
Even so, when Barack Hussein Obama was asked in a recent C-Span interview with Steve Scully of C-Span about California’s plight Mr. Obama remarked: “I think that what you're seeing in states is that anytime you got a severe recession like this, as I said before, their demands on services are higher. So, they are sending more money out. At the same time, they're bringing less tax revenue in. And that's a painful adjustment…” (see transcript)
Translation please: Let’s see more and more services, spending more and more money while eroding their tax base by driving business out of the state or causing businesses to fold under egregious tax burdens, liabilities and regulations is what Mr. Obama is saying happened to California.
But alas, California is not alone, no in fact California here we come. That is, here comes the rest of the Federal government because when Mr. Scully asked Mr. Obama when did he think the U.S. government would run out of money with all of the new reforms and spending placed on it by his administration and the Democrat controlled Congress Mr. Obama straightforwardly declared that the United States government is already insolvent and we are already out of money! (see 28sec. video and please excuse poor video quality)
That’s correct Americans your President has declared America, your Country insolvent! We’re out of money but that didn’t stop the Democrats from pushing through trillions of dollars of pork spending which they and Obama renamed stimulus. And that isn’t stopping Al Gore and Henry Waxman from attempt to put through Climate Change legislation that will further destroy our economy. (see story)
In Addition to that, the lack of money won’t stop the Health Care reforms that the Obama administration is going to implement. But don’t sit around waiting for the gold plated Congressional Health care that you were promised when Democrats were campaigning for the presidency, no, what you will end up with if this legislation comes to pass is the DMV version of Health care, long lines and a poorly managed federal system.
Following is the almost 33minute interview with Steve Scully in which about 13 minutes in Mr. Obama discloses to the American people that America is broke. (see 32:27min. video)
So allow me to ask, is this any way for an insolvent government to be acting, that is, spending money that we don’t have for partisan political objectives which are meant to keep the ones who wrecked the government in the first place, in power?
And don’t you buy for one second that it wasn’t Obama and the Democrats that wrecked this economy. No matter how much he and his fellow Democrats attempt to blame the Bush administration they’ve got a very large problem in selling that old dried out lie to the American people which is, it is Congress that controls the purse strings of the budget and when this economy went careening out of control Democrats were in control of both House of Congress for two years and Barack Obama was in the Senate voting for all of the measures that sent us spiraling in to fiscal chaos. Even if he claims that it wasn’t him. (see story)
Like an earthquake along the San Andreas fault a Democrat controlled State assembly as sent California falling off into the fiscal Pacific Ocean soon to the joined in the watery world of socialism by the rest of the Nation led by Barack Obama and a Democrat controlled Congress.