Federal Reserve Bank Remember when you were a child and you wanted one of your parents to buy you something and they would sometimes say, "Sorry, not today, remember money doesn't grow on trees?" If you ever experienced this, as I did, you didn't realize at the time that your parents were trying to teach you a lesson about money. As you later certainly learned, you either use it wisely or you might not have it when you need it.
Today, however, our society has turned things upside down. Wants often take priority over needs and it is not unusual to find people mired in debt which they can't even hope to retire. No place is this found more often than in the government, which continually spends more than it has and is today leaving our future generations in hock to foreign countries and other entities in huge amounts, debt that our kids and grandkids were not responsible for generating.
Take our current President as the prime example. When elected to office in 2008, he promised to cut our national debt in half by the end of his first term. Was he successful? Not only was he unsuccessful, he didn't even try. The debt rose from approximately $10T to $16T and he succeeded in increasing it by over $1T per year in his first term, a record for spending. Today we find ourselves nearly $17T in debt with no signs of the increases slowing down. President Obama knows, however, that money doesn't grow on trees, but he obviously believes that creating it out of thin air by way of the printing press is the way to go.
Friends, let's face the facts: we as a nation are broke. We can't keep on spending the way we've been doing or we will not only face bankruptcy--we will face the end of our society as we know it. Our Founders knew this and warned against government getting too big for its means, but for some reason we think we know better and we continually elect politicians (both parties) who promise us that they can provide everything we need with no worry. They are, in fact, buying votes with their lies which we readily accept as true. Later they retire to a fat retirement check and no worries while we struggle with what they left us.
We have a chance in the next month to turn this around. How? By urging our Congress to do something dramatic to slow the spending. And there is a way to do it which will be a good start while also having the effect of killing an albatross law that no one likes or wants: Obamacare. Sens. Ted Cruz, Mike Lee and others have proposed to approve an increase in the debt ceiling, which will be required by September 30th, which funds all requirements except Obamacare. Since Obamacare is set to by fully operational on January 1, 2014, halting funding will halt its final implementation while also eliminating nearly 20% of the budget. All other government programs, including Defense, Social Security, Medicaid and so much more will be funded but not Obamacare.
Now the President says that if these Republican Senators have their way they will be responsible for shutting down the government but that is categorically incorrect. The entire government will be funded except Obamacare. If the government is shut down it will be because a stubborn President won't admit the truth. And the truth is that he will have been the one to shut down the government, despite the fact that he has already violated law by tampering with the Obamacare law that he sought and approved. See how he's tried to turn things around to save his own position? He's been practicing doublespeak every since he was first elected.
This effort will be the first step to common sense in government in a long time. I urge each of you to support it and help us get a handle on expenditures. If we want to be the leader of the Free World, we've got to do something and it must start now. And you'll also have the satisfaction of knowing that the entire Obamacare fiasco will have to be reworked to do what is needed: the return to a patient-doctor centered healthcare program, not one operating by government edict and shortages. Let's get rid of this unworkable law while we still can.
Think about, pray on it and I'm sure you'll see the benefit of this approach. It will be one big step toward fiscal solvency in the years ahead while also helping us to provide a workable and affordable health system that does not divide our citizens. Spending within our means, what a novel approach.
Excellent health care: priceless.
God bless each of you and have a blessed day.
Today, however, our society has turned things upside down. Wants often take priority over needs and it is not unusual to find people mired in debt which they can't even hope to retire. No place is this found more often than in the government, which continually spends more than it has and is today leaving our future generations in hock to foreign countries and other entities in huge amounts, debt that our kids and grandkids were not responsible for generating.
Take our current President as the prime example. When elected to office in 2008, he promised to cut our national debt in half by the end of his first term. Was he successful? Not only was he unsuccessful, he didn't even try. The debt rose from approximately $10T to $16T and he succeeded in increasing it by over $1T per year in his first term, a record for spending. Today we find ourselves nearly $17T in debt with no signs of the increases slowing down. President Obama knows, however, that money doesn't grow on trees, but he obviously believes that creating it out of thin air by way of the printing press is the way to go.
Friends, let's face the facts: we as a nation are broke. We can't keep on spending the way we've been doing or we will not only face bankruptcy--we will face the end of our society as we know it. Our Founders knew this and warned against government getting too big for its means, but for some reason we think we know better and we continually elect politicians (both parties) who promise us that they can provide everything we need with no worry. They are, in fact, buying votes with their lies which we readily accept as true. Later they retire to a fat retirement check and no worries while we struggle with what they left us.
We have a chance in the next month to turn this around. How? By urging our Congress to do something dramatic to slow the spending. And there is a way to do it which will be a good start while also having the effect of killing an albatross law that no one likes or wants: Obamacare. Sens. Ted Cruz, Mike Lee and others have proposed to approve an increase in the debt ceiling, which will be required by September 30th, which funds all requirements except Obamacare. Since Obamacare is set to by fully operational on January 1, 2014, halting funding will halt its final implementation while also eliminating nearly 20% of the budget. All other government programs, including Defense, Social Security, Medicaid and so much more will be funded but not Obamacare.
Now the President says that if these Republican Senators have their way they will be responsible for shutting down the government but that is categorically incorrect. The entire government will be funded except Obamacare. If the government is shut down it will be because a stubborn President won't admit the truth. And the truth is that he will have been the one to shut down the government, despite the fact that he has already violated law by tampering with the Obamacare law that he sought and approved. See how he's tried to turn things around to save his own position? He's been practicing doublespeak every since he was first elected.
This effort will be the first step to common sense in government in a long time. I urge each of you to support it and help us get a handle on expenditures. If we want to be the leader of the Free World, we've got to do something and it must start now. And you'll also have the satisfaction of knowing that the entire Obamacare fiasco will have to be reworked to do what is needed: the return to a patient-doctor centered healthcare program, not one operating by government edict and shortages. Let's get rid of this unworkable law while we still can.
Think about, pray on it and I'm sure you'll see the benefit of this approach. It will be one big step toward fiscal solvency in the years ahead while also helping us to provide a workable and affordable health system that does not divide our citizens. Spending within our means, what a novel approach.
Excellent health care: priceless.
God bless each of you and have a blessed day.
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